请问什么是option writer?

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期权(option)是一种基于标的证券价值的合同。买方有权利但没有义务在特定日期或之前以确定的价格购买/出售资产.

期权出售人(option writer),也被称为授予人或卖方,是出售期权并通过建立头寸从买方那里收取期权费的人。某人创建了一个新的期权合约,并将其出售给寻求购买该合约的交易员。出售的标的证券可以是有担保期权、无担保期权或无担保期权。如果承销人拥有标的证券,那么它就成为备兑期权。如果出售人不拥有标的期权,那么它就是无标的期权。

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option writer是指期权卖方,其在Investopedia网站中有如下定义:

A writer (sometimes referred to as a grantor) is the seller of an option who opens a position to collect a premium payment from the buyer. Writers can sell call or put options that are covered or uncovered. An uncovered position is also referred to as a naked option. For example, the owner of 100 shares of stock can sell a call option on those shares to collect a premium from the buyer of the option; the position is covered because the writer owns the stock that underlies the option and has agreed to sell those shares at the strike price of the contract. A covered put option would involve being short the shares and writing a put on them. If an option is not covered the option writer theoretically faces the risk of very large losses if the underlying moves against them.

 

即:卖方(也称设保人)是期权的卖方,其开立头寸以向买方收取溢价。卖方可以出售覆盖或未覆盖的看涨期权或看跌期权。未覆盖期权也称为裸期权。例如,持有 100 股股票的所有者可以出售这些股票的看涨期权,以向期权买方收取溢价; 该头寸被覆盖是因为卖方拥有作为期权基础的股票,并同意以合约的履约价出售该等股票。有保障的看跌期权将涉及做空股票并对其进行看跌期权。如果期权没有被覆盖,期权卖方理论上面临着如果标的物对他们不利的巨大损失的风险。

 

Option buyers are given the right to buy or sell an underlying security, within a certain time frame, at a specified price by the option seller or writer.

期权买方有权在特定时间范围内以期权卖方或卖方指定的价格买卖标的证券。

 

The primary objective for option writers is to generate income by collecting premiums when contracts are sold to open a position.

期权卖方的主要目标是通过在卖出合约开仓时收取溢价来产生收入。

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