巧蓁
2022-06-18
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U.S. Super Stock Options Expiry May Bring Short Market Respite<blockquote>美国超级股票期权到期或为市场带来短暂喘息</blockquote>
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Buying a call option is a bet the underlying asset will rise in price, while the opposite holds for a put option.</p><p><blockquote>期权赋予买方在给定日期以给定价格买卖证券的权利。购买看涨期权期权是押注标的资产价格将上涨，而看跌期权则相反。</blockquote></p><p>Analytic services SpotGamma said there are a significant number of deep "in-the-money" puts expiring, similar in size to when markets crashed in March 2020, referring to protective options that have risen in value due to the market's fall.</p><p><blockquote>分析服务SpotGamma表示，有大量深度“价内”看跌期权即将到期，其规模与2020年3月市场崩盘时相似，指的是因市场下跌而价值上涨的保护性期权。</blockquote></p><p>"These positions are likely adding to the overall market volatility," said SpotGamma founder Brent Kochuba.</p><p><blockquote>SpotGamma创始人Brent Kochuba表示：“这些头寸可能会加剧整体市场波动。”</blockquote></p><p>Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.</p><p><blockquote>高盛本周估计，约3.4万亿美元的美国股票期权将于周五到期，这一数字远高于通常的季度数据。</blockquote></p><p>U.S. markets will be shut on Monday for the Juneteenth holiday.</p><p><blockquote>美国市场将于周一因六月节假期休市。</blockquote></p><p>Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.</p><p><blockquote>一些市场参与者预计，由于投资者面临可能的经济衰退，对投资组合的对冲需求将会增加。他们表示，大量看跌头寸到期也可能在短期内提供一些缓解。</blockquote></p><p>The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.</p><p><blockquote>美联储周三加息75个基点，以及进一步加息以抑制数十年来高通胀的可能性，使标普500有望创下自2020年大流行导致的崩盘以来最糟糕的单周表现。</blockquote></p><p>The U.S. benchmark index is already in a bear market, after falling more than 20% from its all-time high.</p><p><blockquote>美国基准指数从历史高点下跌了20%以上，已经处于熊市。</blockquote></p><p>"Now that the big Fed shoe has dropped, in the absence of other news, markets may take a breather...but a sustained recovery may remain elusive for now," Oyster said.</p><p><blockquote>Oyster表示：“既然美联储的大鞋已经落下，在没有其他消息的情况下，市场可能会喘口气……但持续复苏目前可能仍难以实现。”</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Super Stock Options Expiry May Bring Short Market Respite<blockquote>美国超级股票期权到期或为市场带来短暂喘息</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Super Stock Options Expiry May Bring Short Market Respite<blockquote>美国超级股票期权到期或为市场带来短暂喘息</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2022-06-17 23:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>An unusually large quarterly expiration of U.S. stock futures and options on Friday is likely to boost trading volumes and add to volatility, market strategists said, with some even expecting it to trigger a relief rally at the end of a turbulent week.</p><p><blockquote><html><head></head><body>市场策略师表示，周五美国股指期货和期权的季度到期量异常大，可能会提振交易量并加剧波动性，一些人甚至预计这将在动荡的一周结束时引发缓解性反弹。</body></html></blockquote></p><p>Friday marks the once-a-quarter, simultaneous expiry of stock options, stock index futures and index option contracts, with investors unwinding old positions and putting on new ones.</p><p><blockquote>周五标志着股票期权、股指期货和指数期权合约每季度同时到期一次，投资者平仓新仓。</blockquote></p><p>"Many market makers who sold puts hedged their exposure with a short market position," said Michael Oyster, chief investment officer at Chicago-based Options Solutions.</p><p><blockquote>总部位于芝加哥的Options Solutions首席投资官Michael Oyster表示：“许多出售看跌期权的做市商通过市场空头头寸对冲了风险敞口。”</blockquote></p><p>"As those put options expire, the hedges are reversed, in this case through a short-covering purchase," Oyster said, adding this could provide some support to the market.</p><p><blockquote>Oyster表示：“当这些看跌期权到期时，对冲会被逆转，在这种情况下是通过空头回补购买。”他补充说，这可能会为市场提供一些支撑。</blockquote></p><p>About 64% of all S&P 500 index puts stand to expire "in-the-money", while 96% of the June call open interest is set to expire "out-of-the-money" or worthless, Options Solutions said.</p><p><blockquote>Options Solutions表示，约64%的标普500指数看跌期权将以“价内”到期，而96%的6月看涨期权未平仓合约将以“价外”或毫无价值的方式到期。</blockquote></p><p>An option gives the buyer the right to buy or sell a security at a given price on a given date. Buying a call option is a bet the underlying asset will rise in price, while the opposite holds for a put option.</p><p><blockquote>期权赋予买方在给定日期以给定价格买卖证券的权利。购买看涨期权期权是押注标的资产价格将上涨，而看跌期权则相反。</blockquote></p><p>Analytic services SpotGamma said there are a significant number of deep "in-the-money" puts expiring, similar in size to when markets crashed in March 2020, referring to protective options that have risen in value due to the market's fall.</p><p><blockquote>分析服务SpotGamma表示，有大量深度“价内”看跌期权即将到期，其规模与2020年3月市场崩盘时相似，指的是因市场下跌而价值上涨的保护性期权。</blockquote></p><p>"These positions are likely adding to the overall market volatility," said SpotGamma founder Brent Kochuba.</p><p><blockquote>SpotGamma创始人Brent Kochuba表示：“这些头寸可能会加剧整体市场波动。”</blockquote></p><p>Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.</p><p><blockquote>高盛本周估计，约3.4万亿美元的美国股票期权将于周五到期，这一数字远高于通常的季度数据。</blockquote></p><p>U.S. markets will be shut on Monday for the Juneteenth holiday.</p><p><blockquote>美国市场将于周一因六月节假期休市。</blockquote></p><p>Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.</p><p><blockquote>一些市场参与者预计，由于投资者面临可能的经济衰退，对投资组合的对冲需求将会增加。他们表示，大量看跌头寸到期也可能在短期内提供一些缓解。</blockquote></p><p>The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.</p><p><blockquote>美联储周三加息75个基点，以及进一步加息以抑制数十年来高通胀的可能性，使标普500有望创下自2020年大流行导致的崩盘以来最糟糕的单周表现。</blockquote></p><p>The U.S. benchmark index is already in a bear market, after falling more than 20% from its all-time high.</p><p><blockquote>美国基准指数从历史高点下跌了20%以上，已经处于熊市。</blockquote></p><p>"Now that the big Fed shoe has dropped, in the absence of other news, markets may take a breather...but a sustained recovery may remain elusive for now," Oyster said.</p><p><blockquote>Oyster表示：“既然美联储的大鞋已经落下，在没有其他消息的情况下，市场可能会喘口气……但持续复苏目前可能仍难以实现。”</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/u-super-stock-options-expiry-142037424.html\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://finance.yahoo.com/news/u-super-stock-options-expiry-142037424.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164445096","content_text":"An unusually large quarterly expiration of U.S. stock futures and options on Friday is likely to boost trading volumes and add to volatility, market strategists said, with some even expecting it to trigger a relief rally at the end of a turbulent week.Friday marks the once-a-quarter, simultaneous expiry of stock options, stock index futures and index option contracts, with investors unwinding old positions and putting on new ones.\"Many market makers who sold puts hedged their exposure with a short market position,\" said Michael Oyster, chief investment officer at Chicago-based Options Solutions.\"As those put options expire, the hedges are reversed, in this case through a short-covering purchase,\" Oyster said, adding this could provide some support to the market.About 64% of all S&P 500 index puts stand to expire \"in-the-money\", while 96% of the June call open interest is set to expire \"out-of-the-money\" or worthless, Options Solutions said.An option gives the buyer the right to buy or sell a security at a given price on a given date. Buying a call option is a bet the underlying asset will rise in price, while the opposite holds for a put option.Analytic services SpotGamma said there are a significant number of deep \"in-the-money\" puts expiring, similar in size to when markets crashed in March 2020, referring to protective options that have risen in value due to the market's fall.\"These positions are likely adding to the overall market volatility,\" said SpotGamma founder Brent Kochuba.Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.U.S. markets will be shut on Monday for the Juneteenth holiday.Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.The U.S. benchmark index is already in a bear market, after falling more than 20% from its all-time high.\"Now that the big Fed shoe has dropped, in the absence of other news, markets may take a breather...but a sustained recovery may remain elusive for now,\" Oyster said.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":397,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/689685777"}
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