輸錢唔使愁嘅！學多種投資技巧，下次贏錢嗰個可能就係你

#投資有道 #投資 #股票 #美股 #港股 #投資組合 #注碼控制 #ED_S3 #EDAPP13 #經濟一週

軟銀被揭露買進大量科技股的買權。
不過就 Bloomberg 的說法，實際上軟銀只是比較有名，他的交易量在近期大量增加的買權合約中並不具有主導地位。
總之，可能是大家嫌股票漲太慢，就去買進買權了，而如果這個時候股票漲了，那些賣出買權的交易員/券商/投資人，可能就要買股票來避險，這麼一來又繼續推升股價跟買權波動率......就會吸引更多人跳進來買買權。

感覺像最近的流動性挖礦，覺得挖礦太慢，手續費太貴，然後直接去買幣.......然後，壽司就變成壽衣了。

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“Softbank as a call buyer makes sense, as does the underlying buying it generates. But trades less than 10 contracts swamped the rumored Softbank buys, so clearly others were trying to tag along for the ride,” Goepfert said. “Not sure why now versus other years, other than stay-at-home boredom. Maybe the retail crowd saw this as their last, best change to get rich quick.”

Asked if options positions in the market, which can force dealers to buy shares to hedge when they start to move, might be a catalyst in moves like Salesforce.com’s, Tengler said: “Yeah definitely,” adding, “I’m not an options expert, but it does drive short-term moves pretty dramatically.”
https://www.bloomberg.com/news/articles/2020-09-05/huge-swings-in-options-overrun-stocks-leave-fund-manager-baffled?sref=nX3sHuam

梧：有網友問咩係negative gamma trade，等在下拋下書包先。

首先要知道乜嘢係delta。

Delta ＝ 衍生工具價格變動 / 相關資產價格變動
Gamma ＝ Delta嘅變動率（用數學Jargon就係delta嘅derivative）

咁咩叫negative gamma？如果玩過options或做開options trading嘅朋友就會明白，在下就用options嚟做example。簡單嚟講，當你short put options嘅時候你就會自動中negative gamma（call options都係一樣，只係方向唔同姐），意思即係話如果相關資產價格跌（eg.即係股票跌）嘅時候gamma會越嚟越大。用人話講就係所謂嘅 「無限風險有限回報」，當你嘅options喺好撚遠（deep OTM）嘅時候gamma近乎零，越接近ATM gamma就越大，ATM嘅話gamma就係最大。

套用返落而家呢個市－－呢一兩個禮拜跌到仆街仲要跌得好急，因為negative gamma嘅關係，即係話short put options嘅人/莊家就會承受好大嘅loss，咁喺呢個情況下仲可以點樣做對沖？咪沽underlying asset囉，繼而做成蝴蝶效應，個市越跌得急就要越沽，因為大莊家要neutralize risk（即係跟返啲相關希臘文字嘅指標去控制風險）。