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標題: 完全股票期權操作手冊 (for 新手或玩開指數期權) [打印本頁]

作者: chc499 時間: 2009-11-17 22:07 標題: 完全股票期權操作手冊 (for 新手或玩開指數期權)

完全股票期權操作手冊 (for 新手或玩開指數期權)
很高興繼續寫下股票期權的步驟, 如下:

**簡介(有空才看也可以)
http://www.hkex.com.hk/invedu/booklet/Stock%20Option_c.pdf

1.開户口 (股票期權不同股票户口,也不同指數權户口, 最好跟股票户口一起,方便股票實貨交收)
大部份問題,小弟在以下文章提到。

2選股, 指數成分股就可以做期權, 名單如下:
http://www.hkex.com.hk/prod/so/classlist_so_c.htm

3.睇報價(免費港交所网頁睇,付費(即時)睇WinQuote),及按金水平 (買權不用按金,沽(short)權才要按金)
https://www.hkex.com.hk/chi/ddp/List_Of_Underlying_C.asp?PgId=13
https://www.hkex.com.hk/chi/market/rm/rm_dcrm/riskdata/margin_seoch/mertc_seoch.htm

4.策略 ,毛利率
牛市每月找低位short put收權金, 如收貨就坐貨, 或等高位Short call出去(簡單看保力加日線圖就可以, 要賺到最盡捉高低位就要請教MT。這樣就可以賺2次,幾和味!!!)

毛利率約20-40% 回報 (比ELI, ELN, Accumulator, 更安全,更有掌握,更好利潤!!!!

)

5 落盤, 电話落盤最簡單

, 电腦落盤最自由

6 平倉,止賺,止蝕(不接貨策略参考以下文章)

其他有用Links, 自己睇啦, 不能說得太白 (3月HKEX.com.hk 新 Updated)..........

http://www.hkex.com.hk/chi/ddp/Most_Active_Contracts_C.asp?MarketId=4

如有其他資料補充,希望其他高手指正....

如果以上資料有用,煩回覆一吓

最後希望名位賺多d, 秘撈一年出多12個月糧冇問題

[ 本帖最後由 chc499 於 2010-3-25 13:08 編輯 ]

作者: chc499 時間: 2009-11-17 22:21

指數期權跟股票期權不同之處

最大不同, 是指數用錢結算, 到期曰才結算(歐式期權), 但股票期權是用股票交收, 任何時間入價都有可能以股票接貨, 被Call 走(美式期權)...
只要有實貨, 就不怕每月Short Call, 有錢就不怕short Put

作者: chc499 時間: 2009-11-17 22:30

股票期權之好處

我覺得股票期權是不用花太多時間睇住, 適合各位懶的散户

有d人覺得股票期權安全些,而我覺得股票期權跟指數期權相關性低(即指數上落未必影響到股票期權)

現在股票市場上多數股票每年派0,,1,2 次息, (5仔派4次), 但做了股票期權後每年加起來就有12-13次息, 這個好處, 大大提高揸股票(冇揸股票)的樂趣

作者: chc499 時間: 2009-11-17 22:34

選股參考
可找自己最鐘意, 大大隻, 市場流通量大, 波幅小(股價比較穩定), (有d人鐘意波幅大,博賺多d)

多人做的有5, 2628,388,941...其他我大部份未想過要做。菜單可看
http://www.hkex.com.hk/prod/so/classlist_so_c.htm

作者: chc499 時間: 2009-11-17 22:41

不接貨策略:

不接貨是可以的, Short 價外, 遠期些 E.g short 388 Dec $135 @ $2.9 Permium, 如果就來到價或權金上到2倍 eg $6, 就止蝕或搬到下月或1月$6-7 Short Put 位。冇預備接貨就要睇緊D, 玩法不一樣, 壓力也大些。相反有d人等上車,非常希望用$135-2.9價買貨。

作者: chc499 時間: 2009-11-17 22:56

即月期權跟下月(遠期)期權不同之處

即月期權縮得快,期權金唔太高, 長期權縮得慢,期權金高d。
如果對後市有清晰方向,做長期可以, 如果對後市冇方向,做即月比較穩健。
如指數無故被質低(2628, 388, 941,5....質到超低) , 可沽下個月權;例如小弟對大方向有信心,睇上;11月頭做了12月SP 2628$34,35,36 @$1.77,$1.34,$0.98 SP388 $135@ $6.48, 。如市場不太明朗, 升跌都冇信心, 就做本月好了 .

股票期權月頭,月中也可做下月的,無乜所謂。但指數就難d做遠期。

作者: chc499 時間: 2009-11-18 16:02

今日開少少 388 SP $137.5 12月 @ $4.05 , 並排隊買些實貨, 再跌就再做..由8月開始,已預備好倉到12月,.

作者: chc499 時間: 2009-11-20 10:46

為何如此優質股票要打靶呢?
買咗388, 就把它放好, 有時開 d 期權, 賺多3-5元, 不好怕市場波幅, 是正常的, 如果冇心接貨, eg SP140, 就平咗佢可以。以小博大多數唔掂的,-------> 68431

作者: chingnga 時間: 2009-11-23 12:13

thank you c-hing

作者: ddy88 時間: 2009-12-1 10:54

师兄，你写的资料简直就是我们初哥的指路明灯！非常感谢！

作者: floydhk 時間: 2009-12-1 11:01

Thanks..good tutorial

作者: floydhk 時間: 2009-12-1 11:11

不過short stock option 可能隨時被行駛...即係隨時被行駛接貨.成手都係貨....???

作者: chc499 時間: 2009-12-1 11:43

引用:

原帖由 floydhk 於 2009-12-1 11:11 發表
不過short stock option 可能隨時被行駛...即係隨時被行駛接貨.成手都係貨....???

早晨dear Floydhk Hing,
小弟多數的經歷是股票期權9成月尾才被Call貨,接貨(可能大户月尾舞高弄底指數股之故)。做股票期權真的有辣有唔辣, 比較返指數權,做錯stock options 就成手貨, (睇當時情況及其股票質素),基本上可守(熊市不能守), 或者把股票ShortCall (AT the money) 出去。而指數權, 2天前如入價, 基本上$50/点計數,轉倉也是比較困難,冇仇報呢

2日前大震,$140,137.5,135收了388, 再ShortCall $4.0($140), $5.5($137.5)出去, 計好條數, 真的可以守吓呢...

作者: suyun 時間: 2009-12-1 23:03

师兄,谢谢指点

作者: chingnga 時間: 2009-12-10 15:28

CHC hing , 好高興認識你,我是新手,先我會學習你post的股票期權手冊,thanks

作者: chc499 時間: 2009-12-11 22:51

引用:

原帖由 chingnga 於 2009-12-10 15:28 發表
CHC hing , 好高興認識你,我是新手,先我會學習你post的股票期權手冊,thanks

Thanks dear Chingnga;
跟MT學期權可以了,我寫的只是期權一部份呢, 開倉,只賺,只蝕可以做到有系统,不慌不忙......

作者: yokito530 時間: 2009-12-29 17:48

chc hing我報讀左MT SIR既太極期權. 唔知可以應用到股票期權嗎? 之前俾D牛仔, 熊仔, 輪仔食左唔小身家, 希望學多D期權知識唔好再輸咁多囉.

作者: chc499 時間: 2009-12-30 17:44

引用:

原帖由 yokito530 於 2009-12-29 17:48 發表
chc hing我報讀左MT SIR既太極期權. 唔知可以應用到股票期權嗎? 之前俾D牛仔, 熊仔, 輪仔食左唔小身家, 希望學多D期權知識唔好再輸咁多囉.

可以的。股票權簡單過指數權。牛熊係大户對冲咗,才賣給大家(所以未能有校對冲)。不過期權波幅大,要小心使用此等大殺傷力武器。大家可学多d並諗多d持性及跟牛能熊, Warrants 不同之處

作者: chc499 時間: 2009-12-31 12:14

引用:

原帖由 chc499 於 2009-12-30 17:44 發表

可以的。股票權簡單過指數權。牛熊係大户對冲咗,才賣給大家(所以未能有校對冲)。不過期權波幅大,要小心使用此等大殺傷力武器。大家可学多d並諗多d持性及跟牛能熊, Warrants 不同之處 ...

要說清楚些,指數權威カ大,10數張Long 對方向就似揸幾張大期(参考SP system對冲值)

相對地股票權因按金低,做多咗有時唔知(幾佰手都唔多覺),鋤得勁,冇錢接貨就危險

作者: suyun 時間: 2010-1-18 22:49 標題: 回復 1# chc499 的帖子

谢谢师兄指点

作者: MT99 時間: 2010-2-13 21:25

大家好！恭喜發財！我也恭祝大家龍精虎猛，財源廣進，萬事勝意，身體健康！chc兄今年賺多D！ MT

作者: chc499 時間: 2010-2-23 02:02

引用:

原帖由 MT99 於 2010-2-13 21:25 發表
大家好！恭喜發財！我也恭祝大家龍精虎猛，財源廣進，萬事勝意，身體健康！chc兄今年賺多D！ MT

Thanks MT,
在此板面我也祝MT 身體健康,精力充沛,腦根靈活,幫助大家睇準個市。
所謂一分耕耘,一分收獲, 小弟希望大家都有智慧,一起開倉,平倉,take profits..............

Looking forwards to joining the party On Sunday 28th Feb.

作者: s168 時間: 2010-2-26 15:03 標題: chc499

thank chc499: 简直就是我们初哥的指路明灯！非常感谢

作者: leung 時間: 2010-3-15 07:26

作者: chc499 時間: 2010-3-15 11:54

大家好,小弟睇到港交所有用資科同Links 唔同哂,我會盡把Update 返,今日番緊エ,收工就改....

作者: kenken05 時間: 2010-3-24 09:30

C兄! 請問香港有邊幾間大行做股票期權呢?

作者: Surfer58 時間: 2010-3-24 11:54

引用:

原帖由 kenken05 於 2010-3-24 09:30 發表
C兄! 請問香港有邊幾間大行做股票期權呢?

而家好多間都有, depends 您用開邊間或者手續費而定

作者: chc499 時間: 2010-3-25 13:00

開户口不是問題,之前有提過,上網打"期權開户口"或聽吓出面講座就可以

PS.小弟己Updated 返有用連結 page 1,希望大家有空望望....
做到幾多, 就靠有冇用功分析市況和策略,祝好運

CHC499

作者: cvc 時間: 2010-4-15 01:45

C-Hing,

I have #2628, SC37 last month, I want to buy this share again, now I have just SP38 MAY, shall I also SP38 APR. if it goes further down. Many thanks

作者: chc499 時間: 2010-4-15 14:45

引用:

原帖由 cvc 於 2010-4-15 01:45 發表
C-Hing,

I have #2628, SC37 last month, I want to buy this share again, now I have just SP38 MAY, shall I also SP38 APR. if it goes further down. Many thanks

Thanks CVC Hing,

If you have SC $37 last month, you would have your 2628 stocks called out. For this month, I have no idea whether it is above $38 or below $38 close. Aggresively do both would be fine (if you have the stocks and have money to recieve the stocks).If I really do that trades (foresee the stocks will be around $38 close), I must close both SC,SP before the closing day on 29th April. Let say you SP, SC for around $0.6 and could settle then with around $0.2 (please be noted that it is kind of high risk).

作者: chc499 時間: 2010-4-15 14:53

引用:

原帖由 cvc 於 2010-4-15 01:45 發表
C-Hing,

I have #2628, SC37 last month, I want to buy this share again, now I have just SP38 MAY, shall I also SP38 APR. if it goes further down. Many thanks

Thanks CVC, Since you want to buy the stocks, you could short put $38 in April( I may do some to follow you too). The concern is do you have enough deposit or what do you do if 2628 really drop a lot from April to May or even up to June..

作者: lofu 時間: 2010-7-7 01:24

CHC hing,

Really very good tutorial.

作者: gundam78 時間: 2010-7-9 12:48

Hi C-Hing,

I am very new and in learning Option. I see the discussion that we should have stock on-hand when doing SC or SP on Stock Option. What happens if my option is called out while I don't have any stock on-and? Are there some rules that I must settle within a period of time (how long?)? Or, what penalty will be happened?

作者: chc499 時間: 2010-7-12 17:15

引用:

原帖由 gundam78 於 2010-7-9 12:48 發表
Hi C-Hing,

I am very new and in learning Option. I see the discussion that we should have stock on-hand when doing SC or SP on Stock Option. What happens if my option is called out while I don't have ...

Thanks gundam78,

a lot of new traders may have similar questions like what you mentioned. Usually Short Put means you want to buy that stocks at a lower price (you should have the money in case the SP is in the money) Short Call usually mean you have the stocks and doesn't matter the stocks would be called out. If you have short options and no money to recieve or no stocks to give away, you must settle the options at or before the closing day at the price quoted (you have to call the agent to close it and don't let it close by itself after closing day). Usually volatility for stocks options is low, comparing to index options. The worst case is when you nake short( shorting with no protection) options and the options turned out a big move up or down, you may suffer a big loss since the risk for nake short is unlimited. Frankly said there are more things out of such few lines. You could go to MT's free tutorial to know more...

[ 本帖最後由 chc499 於 2010-7-12 17:21 編輯 ]

作者: reservoir888 時間: 2010-9-2 00:36

Thank You C-Hing

作者: reservoir888 時間: 2010-9-2 22:21

Thank You C-Hing

作者: gundam78 時間: 2010-9-5 00:30

Dear C-Hing,

I'd like to know how to input the symbol (whtat is the format) to retrieve the Option data in WinQoute say 2628, HSI, etc.? I input 2628 or HSI; it said invalid option symbol 2628Uo.

Thank you!

作者: chc499 時間: 2010-9-11 11:22

引用:

原帖由 gundam78 於 2010-9-5 00:30 發表
Dear C-Hing,

I'd like to know how to input the symbol (whtat is the format) to retrieve the Option data in WinQoute say 2628, HSI, etc.? I input 2628 or HSI; it said invalid option symbol 2628Uo.

Th ...

Sorry for repling late, Gundam78. To see the data of 2628 you could Push the Opt button and iinput CLIO or H2628O for the pricing. Also somepeople like to see a price strike of a chart or volume trade in a day, that will be pushing the buttons of Int (當天成交) or chart (即曰圖表) and then input CLI3200T0 to see the chart.. (CLI= 2628short form, 3200=Pirce of $32, T=Put in Sept, 0 =yr of 2010)....

For HSI you could input hsi20000T0 (index options put 20000 in sept) to see the similar output..
Hope these things help ^_^

[ 本帖最後由 chc499 於 2010-9-11 11:45 編輯 ]

作者: gundam78 時間: 2010-9-11 22:17

Dear chc499,

It's very helpful! For about "T" in Sep, I remember MT sir has talked it in the lesson but I forget where I write down the notes. Would you mind to tell me more about the month input (say, to view Call of CLI on March, or view Put of CLI on July, etc.). I remember it seems to use TUVXY....Thanks!

Regards,

gundam78

作者: chc499 時間: 2010-9-12 00:27

引用:

原帖由 gundam78 於 2010-9-11 22:17 發表
Dear chc499,

It's very helpful! For about "T" in Sep, I remember MT sir has talked it in the lesson but I forget where I write down the notes. Would you mind to tell me more about the month input (sa ...

Dear Gundam hing, it is not difficult to remember the symbols for the months..
Call from Jan to Dec will always be
ABCDEFGHIJKL
Put from Jan to Dec will always be
MNOPQRSTUVWX

So to view 2628 a price strike will be as follow:
CLI3000I0
2628 $30 Call(Sept) yr2010

CLI3100O1
2628 $31 Put(March) yr2011

[ 本帖最後由 chc499 於 2010-9-12 00:36 編輯 ]

作者: gundam78 時間: 2010-9-25 11:21

Dear chc449 c-Hing,

It's many thanks for your help! I can learn more from you! In using winQ, Function -> Option, when I input HSI, it show "HSIU0" is an invalid option symbol!". When I input "HSIO", it shows "恆指大權 1009". What is wrong on me? And how to show "恆指小權" ?

And there are "(V)Bid", "(V)Ask", "L.Trade(V)". Is that mean the following?

"(V)Bid" =buy option price (call/put)
"(V)Ask"=sell option price (call/put)
"L.Trade(V)" =?? which I cannot guess, for example, 278S, 430S, 2189S, .... which is different on both Call and Put side.
R.Chg =?? which I also cannot guess, it is always negative number from -1, -3, ...-182

Many Thanks!

Gundam78

作者: chc499 時間: 2010-9-27 18:23 標題: 回復 41# gundam78 的帖子

Thanks again, dear gundam78,
small options for hengsend index is MHIO (you may look into search button to find everything you need there).

since we are interested in options related to hong kong stocks, hong kong indexes, we can list the symbol of HK futures to find what we need.

To understand Vbid, VAsk, L.trade(V), what we need is to open SP trader and find out what they mean..
V Bid ,V Ask= (V=排頭位數量) 及買,賣價

V L.trade= (V=成交位數量) 及成交價

R.change = 價位跟昨天變化.. (好像今日升, Call options 升=+數, Put options 趺= - 數)

PS, it is easy to see pictures as below

[attach]512[/attach]

[ 本帖最後由 chc499 於 2010-9-27 18:35 編輯 ]

作者: gundam78 時間: 2010-9-29 00:30

Dear chc499 c-Hing,

Your information is valuable and helpful to all our new player! Many Thanks!

Best Regards,

Gundam78

作者: 6li 時間: 2010-10-29 16:23

thank's for sharing

作者: 666 時間: 2011-1-10 13:08

我是新手,我想sp 388 可以?

作者: 666 時間: 2011-1-10 13:17

是否價外賺多的

作者: 我要做大戶 時間: 2011-1-10 23:27

引用:

原帖由亞伯於 2011-1-10 13:10 發表

新手老手一樣可以 SP 的 .............

亞伯兄果然幽默~haha~^^

作者: wl35 時間: 2011-1-10 23:42

thanks c-hing

作者: batispaul 時間: 2011-2-24 07:13

hi all c hing,
i short Mar 11 [email=941@70]941@70[/email] (0.88) and Apr 11 [email=941@70]941@70[/email] (0.94), will i receive the stock if the price drop to $70 in Feb?

作者: batispaul 時間: 2011-2-24 19:57

hi all c hing,
i short Mar 11 - 941@ 70 (0.88) and Apr 11 - 941@ 70 (0.94), will i receive the stock if the price drop to $70? Thx for your help...

作者: chc499 時間: 2011-2-25 17:07

引用:

原帖由 batispaul 於 2011-2-24 19:57 發表
hi all c hing,
i short Mar 11 - 941@ 70 (0.88) and Apr 11 - 941@ 70 (0.94), will i receive the stock if the price drop to $70? Thx for your help...

Dear Batispaul:
Thanks for the question. And I am sorry for replying late.. If you short Put of 941 and the price is lower than 70, there is a chance to recieve the stocks any time when your agent calls you (may recieve , may not recieve). My experience is to recieve the stocks usually (on the closing day)you will have the stocks one day after closing day. Let say you short put for March , you will pay attention to the price on the closing day of March. If you don't want to recieve the stocks you better close the short puts in the morning of the closing day (by 12:30pm) and I heard that when some stocks options are not popular, they are difficult to settle (no one offers the price for you to close)......I hope this can help....... ^_^

and if i have time again i will move questions to another thread so tha people can see this thread as an instruction for stock option procedures..

[ 本帖最後由 chc499 於 2011-2-25 17:10 編輯 ]

作者: batispaul 時間: 2011-3-3 23:34

Thank you.. c hing

作者: gundam78 時間: 2011-3-20 21:24

Dear chc499 c-hing,

I'd like to know if SP Trader can place scheduled option order or not? It's becasue I need to work on day-time and wana to set it at night instead. Thanks!

Best Regards,

gundam78

作者: chc499 時間: 2011-3-22 01:28

Dear Gundam Hing,,

I asked MT 2 days ago, He said SP can't take the order Overnight...

Chc499

引用:

原帖由 gundam78 於 2011-3-20 21:24 發表
Dear chc499 c-hing,

I'd like to know if SP Trader can place scheduled option order or not? It's becasue I need to work on day-time and wana to set it at night instead. Thanks!

Best Regards,

gundam7 ...

[ 本帖最後由 chc499 於 2011-3-24 18:02 編輯 ]

作者: fulaukwng 時間: 2011-6-10 16:43 標題: 回復 8# chc499 的帖子

thank you very much for your kind and clear advice !

作者: cyc_billy_bt 時間: 2011-10-3 12:07 標題: where to open account for Option Trade

where to open account for Option Trade?

作者: hycheung 時間: 2011-12-13 09:02

作者: vania 時間: 2012-5-22 08:33 標題: 回復 1# chc499 的帖子

师兄，你写的资料就是我们初哥的指路明灯！非常感谢！

作者: vania 時間: 2012-5-22 10:50

Hi 師兄, 你們好!

我是期權新手
我分別做了941的 S.C. @80.00-4.05 和 @90.00-1.52
S.P. @90.00 - 5.2 現在應如何處理, 請指教, 謝謝

我想用 #2 開期權倉 , 賺取期權金, 應如何開, 請指教, 謝謝

我對價外, 價內還是弄不清楚, 仍在老力

作者: 沈年 時間: 2014-7-18 15:38

顶......叹为观止.....

歡迎光臨至尊論壇 (http://www.option-king.net/bbs/)