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decayer888

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2021-03-13

Better time to trade!

US Daylight Saving Time<blockquote>美国夏令时</blockquote>

2021-03-01

Lol

Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</blockquote>

2021-02-27

To the moon!

Gamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</blockquote>

2021-02-26

Nice

Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>

2021-02-26

Nice

抱歉，原内容已删除

2021-02-24

[财迷] [财迷] [财迷] [财迷]

Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</blockquote>

2021-02-17

This is not good

抱歉，原内容已删除

2021-02-17

Awesome

抱歉，原内容已删除

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time to trade!&nbsp;","listText":"Better time to trade!&nbsp;","text":"Better time to trade!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326937950","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://www.laohu8.com/m/news/1199156489?lang=zh_CN&edition=full","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time<blockquote>美国夏令时</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02：00开始，北美地区进入夏令时，直到美国东部时间2021年11月7日02：00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>于是，从3月14日周一开始，美国市场将在北美夏令时期间提前一小时开盘和收盘，即美国交易时间改为北京时间21:30至次日凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天会持续更长时间到晚上。北美和欧洲的大部分地区遵循这一习俗，而其他地方的大多数国家则不这样做。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。坚持现状是义不容辞的责任。</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>US Daylight Saving Time<blockquote>美国夏令时</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\">\nUS Daylight Saving Time<blockquote>美国夏令时</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-11 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02：00开始，北美地区进入夏令时，直到美国东部时间2021年11月7日02：00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>于是，从3月14日周一开始，美国市场将在北美夏令时期间提前一小时开盘和收盘，即美国交易时间改为北京时间21:30至次日凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天会持续更长时间到晚上。北美和欧洲的大部分地区遵循这一习俗，而其他地方的大多数国家则不这样做。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。坚持现状是义不容辞的责任。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362195967,"gmtCreate":1614604990059,"gmtModify":1703478742640,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362195967","repostId":"1178645947","repostType":4,"repost":{"id":"1178645947","kind":"news","pubTimestamp":1614600502,"share":"https://www.laohu8.com/m/news/1178645947?lang=zh_CN&edition=full","pubTime":"2021-03-01 20:08","market":"us","language":"en","title":"Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178645947","media":"zerohedge","summary":"Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non","content":"<p>Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.</p><p><blockquote>好吧，我们可能终于有了一个答案，为什么Robinhood首席执行官Vlad Tenev在过去几周如此渴望进行不间断的公关之旅——其中包括从在国会作证到与Dave Portnoy一起出现在Barstool Sports上的一切。</blockquote></p><p> Because despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.</p><p><blockquote>因为尽管最近几周出现了混乱，但该公司看起来决心最早在今年3月推进保密的首次公开募股。</blockquote></p><p> Rumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.</p><p><blockquote>今年已经在讨论有关Robinhood IPO的传言，但许多人认为，最近涉及游戏驿站的狂热——以及随后针对Robinhood的公关活动——可能会破坏这些计划，至少在2021年下半年之前是这样。</blockquote></p><p> But the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.</p><p><blockquote>但据彭博社和路透社上周报道，该公司“在过去一周与承销商就在几周内提交文件进行了谈判”。此前有报道称，高盛将主导IPO的准备工作，该公司的估值可能超过200亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/534ce1aac2b18e77fbbee5fed74cd35c\" tg-width=\"500\" tg-height=\"314\"></p><p><blockquote></blockquote></p><p> Most recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday:&nbsp;“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit.&nbsp;It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”</p><p><blockquote>最近，该公司发现自己陷入了与投资传奇人物查理·芒格的口水战，芒格上周四表示：“我讨厌这种引诱人们参与投机狂欢的行为。[罗宾汉]可能会看涨期权投资，但那都是胡说八道。这实际上只是疯狂的投机，就像赌场赌博或赛马场投注一样。破坏性的资本主义由来已久，这些交易狂欢是由从中获利的人大肆宣扬的。”</blockquote></p><p> “If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I<b>&nbsp;think it’s a dirty way to make money</b>, and I think that we’re crazy to allow it,” Munger said last week.</p><p><blockquote>“如果你向他们出售赌博服务，并像许多专门引诱赌徒的新经纪人一样从顶部赚取利润，我会<b>我认为这是一种肮脏的赚钱方式</b>，我认为我们允许它是疯狂的，”芒格上周表示。</blockquote></p><p> Continuing to do<s>damage control</s>public relations, Robinhood fired back, calling&nbsp;<b>his comments&nbsp;“disappointing and elitist.”</b>&nbsp;A Robinhood spokeswoman responded:&nbsp;“In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”</p><p><blockquote>继续做<s>损害控制</s>公关，罗宾汉回击，打电话<b>他的评论“令人失望且精英化”。</b>Robinhood发言人回应称：“新一代投资者一下子受到了批评，而这一评论忽视了我们国家当今正在发生的文化转变。Robinhood的创建是为了让那些无法获得代际财富或随之而来的资源开始投资美国股市。”</blockquote></p><p> We're guessing Munger, or Berkshire, won't be participating in the IPO.</p><p><blockquote>我们猜测芒格或伯克希尔不会参与IPO。</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>Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</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\">\nRobinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-01 20:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.</p><p><blockquote>好吧，我们可能终于有了一个答案，为什么Robinhood首席执行官Vlad Tenev在过去几周如此渴望进行不间断的公关之旅——其中包括从在国会作证到与Dave Portnoy一起出现在Barstool Sports上的一切。</blockquote></p><p> Because despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.</p><p><blockquote>因为尽管最近几周出现了混乱，但该公司看起来决心最早在今年3月推进保密的首次公开募股。</blockquote></p><p> Rumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.</p><p><blockquote>今年已经在讨论有关Robinhood IPO的传言，但许多人认为，最近涉及游戏驿站的狂热——以及随后针对Robinhood的公关活动——可能会破坏这些计划，至少在2021年下半年之前是这样。</blockquote></p><p> But the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.</p><p><blockquote>但据彭博社和路透社上周报道，该公司“在过去一周与承销商就在几周内提交文件进行了谈判”。此前有报道称，高盛将主导IPO的准备工作，该公司的估值可能超过200亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/534ce1aac2b18e77fbbee5fed74cd35c\" tg-width=\"500\" tg-height=\"314\"></p><p><blockquote></blockquote></p><p> Most recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday:&nbsp;“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit.&nbsp;It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”</p><p><blockquote>最近，该公司发现自己陷入了与投资传奇人物查理·芒格的口水战，芒格上周四表示：“我讨厌这种引诱人们参与投机狂欢的行为。[罗宾汉]可能会看涨期权投资，但那都是胡说八道。这实际上只是疯狂的投机，就像赌场赌博或赛马场投注一样。破坏性的资本主义由来已久，这些交易狂欢是由从中获利的人大肆宣扬的。”</blockquote></p><p> “If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I<b>&nbsp;think it’s a dirty way to make money</b>, and I think that we’re crazy to allow it,” Munger said last week.</p><p><blockquote>“如果你向他们出售赌博服务，并像许多专门引诱赌徒的新经纪人一样从顶部赚取利润，我会<b>我认为这是一种肮脏的赚钱方式</b>，我认为我们允许它是疯狂的，”芒格上周表示。</blockquote></p><p> Continuing to do<s>damage control</s>public relations, Robinhood fired back, calling&nbsp;<b>his comments&nbsp;“disappointing and elitist.”</b>&nbsp;A Robinhood spokeswoman responded:&nbsp;“In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”</p><p><blockquote>继续做<s>损害控制</s>公关，罗宾汉回击，打电话<b>他的评论“令人失望且精英化”。</b>Robinhood发言人回应称：“新一代投资者一下子受到了批评，而这一评论忽视了我们国家当今正在发生的文化转变。Robinhood的创建是为了让那些无法获得代际财富或随之而来的资源开始投资美国股市。”</blockquote></p><p> We're guessing Munger, or Berkshire, won't be participating in the IPO.</p><p><blockquote>我们猜测芒格或伯克希尔不会参与IPO。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/robinhood-said-push-forward-ipo-plans-march-despite-recent-chaos\">zerohedge</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":{},"source_url":"https://www.zerohedge.com/markets/robinhood-said-push-forward-ipo-plans-march-despite-recent-chaos","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178645947","content_text":"Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.\nBecause despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.\nRumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.\nBut the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.\n\nMost recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday: “I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit. It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”\n“If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I think it’s a dirty way to make money, and I think that we’re crazy to allow it,” Munger said last week.\nContinuing to dodamage controlpublic relations, Robinhood fired back, calling his comments “disappointing and elitist.” A Robinhood spokeswoman responded: “In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”\nWe're guessing Munger, or Berkshire, won't be participating in the IPO.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366043825,"gmtCreate":1614368123667,"gmtModify":1703477027781,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"To the moon!&nbsp;","listText":"To the moon!&nbsp;","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366043825","repostId":"1146313632","repostType":4,"repost":{"id":"1146313632","kind":"news","pubTimestamp":1614334339,"share":"https://www.laohu8.com/m/news/1146313632?lang=zh_CN&edition=full","pubTime":"2021-02-26 18:12","market":"us","language":"en","title":"Gamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146313632","media":"Options AI: Learn","summary":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from ","content":"<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><p><blockquote><b>游戏驿站公司。</b>过去几天股价飙升，较上周一度上涨近200%（但仍较近期轧空高点大幅下跌）。我们将看看像游戏驿站这样波动性很大的股票的期权中出现的独特情况，以及在交易期权之前可能需要考虑的一些事情。</blockquote></p><p><hr><b>Gamestop: The Expected Move</b></p><p><blockquote><hr/><b>游戏驿站：预期的举动</b></blockquote></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><blockquote>首先，看看期权如何为即将到来的走势定价。这是游戏驿站的期权AI预期走势图，预计本周五收盘价将出现近30%的走势。下个月的价格将上涨大约80%。包含盈利事件的月份（未经确认）：</blockquote></p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Gamestop: Call Spreads vs Outright Calls</p><p><blockquote>游戏驿站：看涨期权价差与彻底的评级</blockquote></p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p><blockquote>以3月19日为到期日，我们首先查看看涨利差，并直接与直接评级进行比较。像游戏驿站这样不稳定的股票，评级的股价可能会很昂贵。正因为如此，许多交易者诉诸远超本钱的评级买入。对上行评级的需求增加了这些评级的波动性，使其相对于平价评级的价格昂贵——这种现象被称为倾斜。然而，对于那些看涨的人来说，这可能会创造一个利用价差而不是直接购买看涨期权的机会。让我们看看怎么做。</blockquote></p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p><blockquote>在这里，我们将重点关注一种替代方案——使用借方利差来降低定向交易的总体成本（同时通过降低盈亏平衡水平来提高交易本身的盈利概率）。它通过出售那些相对昂贵的价外评级来帮助购买更接近价外的看涨期权来实现这一目标。</blockquote></p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p><blockquote>随着游戏驿站接近105美元，<b>3月19日110/190借方看涨期权利差</b>大约为15美元，目标是3月19日的看涨预期走势。借方看涨期权利差需要该股在3月19日高于125美元才能盈利。</blockquote></p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><blockquote>相比之下，GME 3月19日200评级的交易价格为29美元。这几乎是200美元看涨期权的成本的两倍，需要股票在3月19日之前高于229美元……而看涨期权的价差需要股票高于125美元。以下是期权人工智能图表上这两种交易的并排比较。一、200家看涨期权：</blockquote></p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And next, the 145/200 debit call spread:</p><p><blockquote>接下来，145/200借方看涨期权利差：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p><blockquote>正如您所看到的，看涨期权价差不仅更便宜，而且上涨盈利的点也更接近股票当前的交易价格。（如盈亏平衡的灰色价格所示。）</blockquote></p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p><blockquote>关于盈利概率的一个注记。这些交易显示的利润概率基于分配给交易盈亏平衡的delta。105美元股票的200看涨期权交易价格接近50 deltas，这一事实表明游戏驿站波动对其期权产生了多么扭曲的影响（难以借贷、扭曲零售对价外评级的需求）。</blockquote></p><p>Directional Butterflies vs Outright Puts</p><p><blockquote>定向蝶形与直接看跌期权</blockquote></p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p><blockquote>高波动性也会影响看跌期权交易。像游戏驿站这样的高波动性股票的一个反直觉的方面是，其隐含波动率可能会随着股票走高而上升，随着股票走低而下降。这与我们通常对波动性的看法相反。因此，随着股票走低，直接买入看跌期权会带来波动性崩溃（从而导致溢价崩溃）的风险。因此，即使股票正朝着预期的方向移动，作为期权持有者，您可能无法实现预期的收益。</blockquote></p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p><blockquote>应对股票高隐含波动率的一种方法（尤其是在持有看跌观点时）是成为期权溢价的净卖家。向看涨期权交易者出售，而不是加入看跌期权交易者。传统上，这可能采取出售信贷看涨期权利差的形式。但在GME的情况下，这意味着以比更接近资金的看涨期权更高的波动性购买（昂贵的）上行看涨期权（如上所述）。</blockquote></p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p><blockquote>因此，交易者可以考虑的一种期权策略是使用蝴蝶。期权交易通常与中性交易观点相关，但在这里适用于实际创建目标（看跌）方向观点。</blockquote></p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><blockquote>举个例子，这里有一只蝴蝶，其中心罢工集中在80美元的股票上，到期日为3月19日：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p><p><blockquote>这只130/80/30蝴蝶的盈亏平衡点为115和45，这意味着如果股票在3月19日到期时处于这两个价格之间，交易是有利可图的……如果股票处于或接近80美元，则会出现最大收益。它具有空头溢价的额外动力，如果股票保持在其范围内，如果隐含波动率被压缩，则按市值计算将会上涨。</blockquote></p><p></p>","source":"lsy1614334070724","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>Gamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</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\">\nGamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Options AI: Learn</strong><span class=\"h-time small\">2021-02-26 18:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><p><blockquote><b>游戏驿站公司。</b>过去几天股价飙升，较上周一度上涨近200%（但仍较近期轧空高点大幅下跌）。我们将看看像游戏驿站这样波动性很大的股票的期权中出现的独特情况，以及在交易期权之前可能需要考虑的一些事情。</blockquote></p><p><hr><b>Gamestop: The Expected Move</b></p><p><blockquote><hr/><b>游戏驿站：预期的举动</b></blockquote></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><blockquote>首先，看看期权如何为即将到来的走势定价。这是游戏驿站的期权AI预期走势图，预计本周五收盘价将出现近30%的走势。下个月的价格将上涨大约80%。包含盈利事件的月份（未经确认）：</blockquote></p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Gamestop: Call Spreads vs Outright Calls</p><p><blockquote>游戏驿站：看涨期权价差与彻底的评级</blockquote></p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p><blockquote>以3月19日为到期日，我们首先查看看涨利差，并直接与直接评级进行比较。像游戏驿站这样不稳定的股票，评级的股价可能会很昂贵。正因为如此，许多交易者诉诸远超本钱的评级买入。对上行评级的需求增加了这些评级的波动性，使其相对于平价评级的价格昂贵——这种现象被称为倾斜。然而，对于那些看涨的人来说，这可能会创造一个利用价差而不是直接购买看涨期权的机会。让我们看看怎么做。</blockquote></p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p><blockquote>在这里，我们将重点关注一种替代方案——使用借方利差来降低定向交易的总体成本（同时通过降低盈亏平衡水平来提高交易本身的盈利概率）。它通过出售那些相对昂贵的价外评级来帮助购买更接近价外的看涨期权来实现这一目标。</blockquote></p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p><blockquote>随着游戏驿站接近105美元，<b>3月19日110/190借方看涨期权利差</b>大约为15美元，目标是3月19日的看涨预期走势。借方看涨期权利差需要该股在3月19日高于125美元才能盈利。</blockquote></p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><blockquote>相比之下，GME 3月19日200评级的交易价格为29美元。这几乎是200美元看涨期权的成本的两倍，需要股票在3月19日之前高于229美元……而看涨期权的价差需要股票高于125美元。以下是期权人工智能图表上这两种交易的并排比较。一、200家看涨期权：</blockquote></p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And next, the 145/200 debit call spread:</p><p><blockquote>接下来，145/200借方看涨期权利差：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p><blockquote>正如您所看到的，看涨期权价差不仅更便宜，而且上涨盈利的点也更接近股票当前的交易价格。（如盈亏平衡的灰色价格所示。）</blockquote></p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p><blockquote>关于盈利概率的一个注记。这些交易显示的利润概率基于分配给交易盈亏平衡的delta。105美元股票的200看涨期权交易价格接近50 deltas，这一事实表明游戏驿站波动对其期权产生了多么扭曲的影响（难以借贷、扭曲零售对价外评级的需求）。</blockquote></p><p>Directional Butterflies vs Outright Puts</p><p><blockquote>定向蝶形与直接看跌期权</blockquote></p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p><blockquote>高波动性也会影响看跌期权交易。像游戏驿站这样的高波动性股票的一个反直觉的方面是，其隐含波动率可能会随着股票走高而上升，随着股票走低而下降。这与我们通常对波动性的看法相反。因此，随着股票走低，直接买入看跌期权会带来波动性崩溃（从而导致溢价崩溃）的风险。因此，即使股票正朝着预期的方向移动，作为期权持有者，您可能无法实现预期的收益。</blockquote></p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p><blockquote>应对股票高隐含波动率的一种方法（尤其是在持有看跌观点时）是成为期权溢价的净卖家。向看涨期权交易者出售，而不是加入看跌期权交易者。传统上，这可能采取出售信贷看涨期权利差的形式。但在GME的情况下，这意味着以比更接近资金的看涨期权更高的波动性购买（昂贵的）上行看涨期权（如上所述）。</blockquote></p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p><blockquote>因此，交易者可以考虑的一种期权策略是使用蝴蝶。期权交易通常与中性交易观点相关，但在这里适用于实际创建目标（看跌）方向观点。</blockquote></p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><blockquote>举个例子，这里有一只蝴蝶，其中心罢工集中在80美元的股票上，到期日为3月19日：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p><p><blockquote>这只130/80/30蝴蝶的盈亏平衡点为115和45，这意味着如果股票在3月19日到期时处于这两个价格之间，交易是有利可图的……如果股票处于或接近80美元，则会出现最大收益。它具有空头溢价的额外动力，如果股票保持在其范围内，如果隐含波动率被压缩，则按市值计算将会上涨。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://learn.optionsai.com/gamestop-and-high-volatility-options/\">Options AI: Learn</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":{"GME":"游戏驿站"},"source_url":"https://learn.optionsai.com/gamestop-and-high-volatility-options/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146313632","content_text":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.Gamestop: The Expected MoveFirst, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):Gamestop: Call Spreads vs Outright CallsUsing March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.With Gamestop near $105, the March 19th 110/190 Debit Call Spread is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:And next, the 145/200 debit call spread:As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).Directional Butterflies vs Outright PutsHigh volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368989970,"gmtCreate":1614272582690,"gmtModify":1703475729250,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368989970","repostId":"1165777611","repostType":4,"repost":{"id":"1165777611","kind":"news","pubTimestamp":1614247990,"share":"https://www.laohu8.com/m/news/1165777611?lang=zh_CN&edition=full","pubTime":"2021-02-25 18:13","market":"us","language":"en","title":"Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165777611","media":"Barrons","summary":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyana","content":"<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>","source":"lsy1601382232898","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>Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</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\">\nWall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-25 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA\">Barrons</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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165777611","content_text":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.\nPiper tech analystHarsh Kumarsays the timing is right for an Apple (ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.\nApple has so far declined to comment about any car plans recently.\nKumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.\nHe assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.\nFor tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.\nOne factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike WardtellsBarron’s.\nWard says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.\nMorgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.\nHe believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.\nThat threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.\nJ.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.\nThe firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.\nAnother thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.\nWedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”\nQuantumScape (QS) is pioneering solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.\nApple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.\nInvestors, it appears, have other more pressing issues on their minds.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368980686,"gmtCreate":1614272517145,"gmtModify":1703475728389,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368980686","repostId":"2114317810","repostType":4,"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363180858,"gmtCreate":1614102269074,"gmtModify":1634551158750,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363180858","repostId":"1107213324","repostType":4,"repost":{"id":"1107213324","kind":"news","pubTimestamp":1614076514,"share":"https://www.laohu8.com/m/news/1107213324?lang=zh_CN&edition=full","pubTime":"2021-02-23 18:35","market":"us","language":"en","title":"Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107213324","media":"MarketWatch","summary":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treas","content":"<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历史上跑赢大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>不断上升的美国国债收益率让股市不寒而栗，尤其是对于飙升的科技相关股票而言。但雷蒙德·詹姆斯表示，历史表明，当收益率“出于正确的原因”上升时，科技股和周期性敏感股往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)私人客户集团首席投资官拉里·亚当(Larry Adam)在周末报告中表示，正确的原因是“经济增长改善和通胀‘健康’上升”。这些原因将10年期国债收益率推至略低于1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam重点介绍了下图，该图细分了标普500 11个行业中每个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“自1990年以来，在利率上升的环境下，周期性较强的行业表现优于大盘，”亚当指出。“相对于标普500的平均年化表现及其跑赢标普500的时间百分比对于科技、非必需消费品和工业行业（我们的三个首选行业）来说是最大的”，而公用事业、房地产等股息收益率较高的行业和消费品往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克100指数下跌2.6%，纳斯达克综合指数下跌2.5%，跌幅最大。两者都倾向于大盘股、科技股。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上被归咎于政府支出增加和超宽松货币政策导致通胀可能飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通胀不仅不太可能“短路”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>他写道：“在分析标普500在不同核心通胀水平下的表现时，在核心通胀在1-4%之间的环境下，股市的表现高于平均水平。”</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当表示，当通胀与经济活动改善同时发生时，这些水平的通胀通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时也从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>Raymond James预计核心通胀率在2%左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）相对于标普500的平均同比表现最为强劲）和非必需消费品行业（+2%）。</blockquote></p><p></p>","source":"market_watch","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>Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</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\">\nCan the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-23 18:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历史上跑赢大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>不断上升的美国国债收益率让股市不寒而栗，尤其是对于飙升的科技相关股票而言。但雷蒙德·詹姆斯表示，历史表明，当收益率“出于正确的原因”上升时，科技股和周期性敏感股往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)私人客户集团首席投资官拉里·亚当(Larry Adam)在周末报告中表示，正确的原因是“经济增长改善和通胀‘健康’上升”。这些原因将10年期国债收益率推至略低于1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam重点介绍了下图，该图细分了标普500 11个行业中每个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“自1990年以来，在利率上升的环境下，周期性较强的行业表现优于大盘，”亚当指出。“相对于标普500的平均年化表现及其跑赢标普500的时间百分比对于科技、非必需消费品和工业行业（我们的三个首选行业）来说是最大的”，而公用事业、房地产等股息收益率较高的行业和消费品往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克100指数下跌2.6%，纳斯达克综合指数下跌2.5%，跌幅最大。两者都倾向于大盘股、科技股。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上被归咎于政府支出增加和超宽松货币政策导致通胀可能飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通胀不仅不太可能“短路”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>他写道：“在分析标普500在不同核心通胀水平下的表现时，在核心通胀在1-4%之间的环境下，股市的表现高于平均水平。”</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当表示，当通胀与经济活动改善同时发生时，这些水平的通胀通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时也从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>Raymond James预计核心通胀率在2%左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）相对于标普500的平均同比表现最为强劲）和非必需消费品行业（+2%）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page\">MarketWatch</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","NDX":"纳斯达克100指数",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107213324","content_text":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note to just shy of 1.4%, or about their highest in a year. Yields also are coming off their largest weekly rise in six weeks.Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&P 500’s 11 sectors and the percentage of time each sector outperforms the S&P 500 in a rising rate environment.RAYMOND JAMES“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&P 500 and the percentage of time it outperforms the S&P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.The Dow Jones Industrial Average was positive, while the S&P 500 was off 0.8%.The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.“When analyzing how the S&P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).","news_type":1,"symbols_score_info":{"NDX":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385629818,"gmtCreate":1613545562834,"gmtModify":1634553217737,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"This is not good","listText":"This is not good","text":"This is not good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385629818","repostId":"1120526689","repostType":4,"isVote":1,"tweetType":1,"viewCount":620,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385620899,"gmtCreate":1613545331811,"gmtModify":1634553218207,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/385620899","repostId":"2112835999","repostType":4,"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":326937950,"gmtCreate":1615573250570,"gmtModify":1703491199132,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Better time to trade!&nbsp;","listText":"Better time to trade!&nbsp;","text":"Better time to trade!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326937950","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://www.laohu8.com/m/news/1199156489?lang=zh_CN&edition=full","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time<blockquote>美国夏令时</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02：00开始，北美地区进入夏令时，直到美国东部时间2021年11月7日02：00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>于是，从3月14日周一开始，美国市场将在北美夏令时期间提前一小时开盘和收盘，即美国交易时间改为北京时间21:30至次日凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天会持续更长时间到晚上。北美和欧洲的大部分地区遵循这一习俗，而其他地方的大多数国家则不这样做。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。坚持现状是义不容辞的责任。</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>US Daylight Saving Time<blockquote>美国夏令时</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\">\nUS Daylight Saving Time<blockquote>美国夏令时</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-11 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p><blockquote>从美国东部时间3月14日（本周日）02：00开始，北美地区进入夏令时，直到美国东部时间2021年11月7日02：00结束。</blockquote></p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><blockquote>于是，从3月14日周一开始，美国市场将在北美夏令时期间提前一小时开盘和收盘，即美国交易时间改为北京时间21:30至次日凌晨04:00，交易前时间为16:00至21:30，交易后时间为04:00至8:00。</blockquote></p><p><b>What is daylight saving time?</b></p><p><blockquote><b>什么是夏令时？</b></blockquote></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p><blockquote>夏令时是在夏季将时钟拨快一小时的做法，这样白天会持续更长时间到晚上。北美和欧洲的大部分地区遵循这一习俗，而其他地方的大多数国家则不这样做。</blockquote></p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p><p><blockquote>夏威夷、美属萨摩亚、关岛、波多黎各、美属维尔京群岛和亚利桑那州大部分地区不实行夏令时。坚持现状是义不容辞的责任。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362195967,"gmtCreate":1614604990059,"gmtModify":1703478742640,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362195967","repostId":"1178645947","repostType":4,"repost":{"id":"1178645947","kind":"news","pubTimestamp":1614600502,"share":"https://www.laohu8.com/m/news/1178645947?lang=zh_CN&edition=full","pubTime":"2021-03-01 20:08","market":"us","language":"en","title":"Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178645947","media":"zerohedge","summary":"Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non","content":"<p>Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.</p><p><blockquote>好吧，我们可能终于有了一个答案，为什么Robinhood首席执行官Vlad Tenev在过去几周如此渴望进行不间断的公关之旅——其中包括从在国会作证到与Dave Portnoy一起出现在Barstool Sports上的一切。</blockquote></p><p> Because despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.</p><p><blockquote>因为尽管最近几周出现了混乱，但该公司看起来决心最早在今年3月推进保密的首次公开募股。</blockquote></p><p> Rumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.</p><p><blockquote>今年已经在讨论有关Robinhood IPO的传言，但许多人认为，最近涉及游戏驿站的狂热——以及随后针对Robinhood的公关活动——可能会破坏这些计划，至少在2021年下半年之前是这样。</blockquote></p><p> But the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.</p><p><blockquote>但据彭博社和路透社上周报道，该公司“在过去一周与承销商就在几周内提交文件进行了谈判”。此前有报道称，高盛将主导IPO的准备工作，该公司的估值可能超过200亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/534ce1aac2b18e77fbbee5fed74cd35c\" tg-width=\"500\" tg-height=\"314\"></p><p><blockquote></blockquote></p><p> Most recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday:&nbsp;“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit.&nbsp;It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”</p><p><blockquote>最近，该公司发现自己陷入了与投资传奇人物查理·芒格的口水战，芒格上周四表示：“我讨厌这种引诱人们参与投机狂欢的行为。[罗宾汉]可能会看涨期权投资，但那都是胡说八道。这实际上只是疯狂的投机，就像赌场赌博或赛马场投注一样。破坏性的资本主义由来已久，这些交易狂欢是由从中获利的人大肆宣扬的。”</blockquote></p><p> “If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I<b>&nbsp;think it’s a dirty way to make money</b>, and I think that we’re crazy to allow it,” Munger said last week.</p><p><blockquote>“如果你向他们出售赌博服务，并像许多专门引诱赌徒的新经纪人一样从顶部赚取利润，我会<b>我认为这是一种肮脏的赚钱方式</b>，我认为我们允许它是疯狂的，”芒格上周表示。</blockquote></p><p> Continuing to do<s>damage control</s>public relations, Robinhood fired back, calling&nbsp;<b>his comments&nbsp;“disappointing and elitist.”</b>&nbsp;A Robinhood spokeswoman responded:&nbsp;“In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”</p><p><blockquote>继续做<s>损害控制</s>公关，罗宾汉回击，打电话<b>他的评论“令人失望且精英化”。</b>Robinhood发言人回应称：“新一代投资者一下子受到了批评，而这一评论忽视了我们国家当今正在发生的文化转变。Robinhood的创建是为了让那些无法获得代际财富或随之而来的资源开始投资美国股市。”</blockquote></p><p> We're guessing Munger, or Berkshire, won't be participating in the IPO.</p><p><blockquote>我们猜测芒格或伯克希尔不会参与IPO。</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>Robinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</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; 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}\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\">\nRobinhood Said To Push Forward With IPO Plans For March, Despite Recent Chaos<blockquote>尽管最近出现混乱，Robinhood表示仍将推进3月份的IPO计划</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-01 20:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.</p><p><blockquote>好吧，我们可能终于有了一个答案，为什么Robinhood首席执行官Vlad Tenev在过去几周如此渴望进行不间断的公关之旅——其中包括从在国会作证到与Dave Portnoy一起出现在Barstool Sports上的一切。</blockquote></p><p> Because despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.</p><p><blockquote>因为尽管最近几周出现了混乱，但该公司看起来决心最早在今年3月推进保密的首次公开募股。</blockquote></p><p> Rumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.</p><p><blockquote>今年已经在讨论有关Robinhood IPO的传言，但许多人认为，最近涉及游戏驿站的狂热——以及随后针对Robinhood的公关活动——可能会破坏这些计划，至少在2021年下半年之前是这样。</blockquote></p><p> But the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.</p><p><blockquote>但据彭博社和路透社上周报道，该公司“在过去一周与承销商就在几周内提交文件进行了谈判”。此前有报道称，高盛将主导IPO的准备工作，该公司的估值可能超过200亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/534ce1aac2b18e77fbbee5fed74cd35c\" tg-width=\"500\" tg-height=\"314\"></p><p><blockquote></blockquote></p><p> Most recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday:&nbsp;“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit.&nbsp;It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”</p><p><blockquote>最近，该公司发现自己陷入了与投资传奇人物查理·芒格的口水战，芒格上周四表示：“我讨厌这种引诱人们参与投机狂欢的行为。[罗宾汉]可能会看涨期权投资，但那都是胡说八道。这实际上只是疯狂的投机，就像赌场赌博或赛马场投注一样。破坏性的资本主义由来已久，这些交易狂欢是由从中获利的人大肆宣扬的。”</blockquote></p><p> “If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I<b>&nbsp;think it’s a dirty way to make money</b>, and I think that we’re crazy to allow it,” Munger said last week.</p><p><blockquote>“如果你向他们出售赌博服务，并像许多专门引诱赌徒的新经纪人一样从顶部赚取利润，我会<b>我认为这是一种肮脏的赚钱方式</b>，我认为我们允许它是疯狂的，”芒格上周表示。</blockquote></p><p> Continuing to do<s>damage control</s>public relations, Robinhood fired back, calling&nbsp;<b>his comments&nbsp;“disappointing and elitist.”</b>&nbsp;A Robinhood spokeswoman responded:&nbsp;“In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”</p><p><blockquote>继续做<s>损害控制</s>公关，罗宾汉回击，打电话<b>他的评论“令人失望且精英化”。</b>Robinhood发言人回应称：“新一代投资者一下子受到了批评，而这一评论忽视了我们国家当今正在发生的文化转变。Robinhood的创建是为了让那些无法获得代际财富或随之而来的资源开始投资美国股市。”</blockquote></p><p> We're guessing Munger, or Berkshire, won't be participating in the IPO.</p><p><blockquote>我们猜测芒格或伯克希尔不会参与IPO。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/robinhood-said-push-forward-ipo-plans-march-despite-recent-chaos\">zerohedge</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":{},"source_url":"https://www.zerohedge.com/markets/robinhood-said-push-forward-ipo-plans-march-despite-recent-chaos","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178645947","content_text":"Well, we might finally have an answer as to why Robinhood CEO Vlad Tenev was so eager to go on a non-stop PR tour over the last few weeks - one that included everything from testifying in front of congress to appears with Dave Portnoy on Barstool Sports.\nBecause despite all of the chaos of recent weeks, the company looks hell bent on pushing forward for a confidential Initial Public Offering as early as March this year.\nRumors about a Robinhood IPO were already being discussed this year, but many assumed that the recent frenzy involving GameStop - and the ensuing PR campaign against Robinhood - would likely derail the plans, at least until the second half of 2021.\nBut the company has \"held talks in the past week with underwriters about moving forward with a filing within weeks\", Bloomberg and Reutersreportedlast week. It had already been reported that Goldman Sachs would lead the preparations for the IPO, which could value the company at more than $20 billion.\n\nMost recently, the firmfound itself in a war of wordswith investing legend Charlie Munger, who said last Thursday: “I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit. It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”\n“If you are selling them gambling services, where you rake profits off the top like many of these new brokers who specialize in luring the gamblers in, I think it’s a dirty way to make money, and I think that we’re crazy to allow it,” Munger said last week.\nContinuing to dodamage controlpublic relations, Robinhood fired back, calling his comments “disappointing and elitist.” A Robinhood spokeswoman responded: “In one fell swoop an entire new generation of investors has been criticized and this commentary overlooks the cultural shift that is taking place in our nation today. Robinhood was created to allow people who don’t have access to generational wealth or the resources that come with it to begin investing in the U.S. stock market.”\nWe're guessing Munger, or Berkshire, won't be participating in the IPO.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385620899,"gmtCreate":1613545331811,"gmtModify":1634553218207,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/385620899","repostId":"2112835999","repostType":4,"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366043825,"gmtCreate":1614368123667,"gmtModify":1703477027781,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"To the moon!&nbsp;","listText":"To the moon!&nbsp;","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366043825","repostId":"1146313632","repostType":4,"repost":{"id":"1146313632","kind":"news","pubTimestamp":1614334339,"share":"https://www.laohu8.com/m/news/1146313632?lang=zh_CN&edition=full","pubTime":"2021-02-26 18:12","market":"us","language":"en","title":"Gamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146313632","media":"Options AI: Learn","summary":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from ","content":"<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><p><blockquote><b>游戏驿站公司。</b>过去几天股价飙升，较上周一度上涨近200%（但仍较近期轧空高点大幅下跌）。我们将看看像游戏驿站这样波动性很大的股票的期权中出现的独特情况，以及在交易期权之前可能需要考虑的一些事情。</blockquote></p><p><hr><b>Gamestop: The Expected Move</b></p><p><blockquote><hr/><b>游戏驿站：预期的举动</b></blockquote></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><blockquote>首先，看看期权如何为即将到来的走势定价。这是游戏驿站的期权AI预期走势图，预计本周五收盘价将出现近30%的走势。下个月的价格将上涨大约80%。包含盈利事件的月份（未经确认）：</blockquote></p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Gamestop: Call Spreads vs Outright Calls</p><p><blockquote>游戏驿站：看涨期权价差与彻底的评级</blockquote></p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p><blockquote>以3月19日为到期日，我们首先查看看涨利差，并直接与直接评级进行比较。像游戏驿站这样不稳定的股票，评级的股价可能会很昂贵。正因为如此，许多交易者诉诸远超本钱的评级买入。对上行评级的需求增加了这些评级的波动性，使其相对于平价评级的价格昂贵——这种现象被称为倾斜。然而，对于那些看涨的人来说，这可能会创造一个利用价差而不是直接购买看涨期权的机会。让我们看看怎么做。</blockquote></p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p><blockquote>在这里，我们将重点关注一种替代方案——使用借方利差来降低定向交易的总体成本（同时通过降低盈亏平衡水平来提高交易本身的盈利概率）。它通过出售那些相对昂贵的价外评级来帮助购买更接近价外的看涨期权来实现这一目标。</blockquote></p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p><blockquote>随着游戏驿站接近105美元，<b>3月19日110/190借方看涨期权利差</b>大约为15美元，目标是3月19日的看涨预期走势。借方看涨期权利差需要该股在3月19日高于125美元才能盈利。</blockquote></p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><blockquote>相比之下，GME 3月19日200评级的交易价格为29美元。这几乎是200美元看涨期权的成本的两倍，需要股票在3月19日之前高于229美元……而看涨期权的价差需要股票高于125美元。以下是期权人工智能图表上这两种交易的并排比较。一、200家看涨期权：</blockquote></p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And next, the 145/200 debit call spread:</p><p><blockquote>接下来，145/200借方看涨期权利差：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p><blockquote>正如您所看到的，看涨期权价差不仅更便宜，而且上涨盈利的点也更接近股票当前的交易价格。（如盈亏平衡的灰色价格所示。）</blockquote></p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p><blockquote>关于盈利概率的一个注记。这些交易显示的利润概率基于分配给交易盈亏平衡的delta。105美元股票的200看涨期权交易价格接近50 deltas，这一事实表明游戏驿站波动对其期权产生了多么扭曲的影响（难以借贷、扭曲零售对价外评级的需求）。</blockquote></p><p>Directional Butterflies vs Outright Puts</p><p><blockquote>定向蝶形与直接看跌期权</blockquote></p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p><blockquote>高波动性也会影响看跌期权交易。像游戏驿站这样的高波动性股票的一个反直觉的方面是，其隐含波动率可能会随着股票走高而上升，随着股票走低而下降。这与我们通常对波动性的看法相反。因此，随着股票走低，直接买入看跌期权会带来波动性崩溃（从而导致溢价崩溃）的风险。因此，即使股票正朝着预期的方向移动，作为期权持有者，您可能无法实现预期的收益。</blockquote></p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p><blockquote>应对股票高隐含波动率的一种方法（尤其是在持有看跌观点时）是成为期权溢价的净卖家。向看涨期权交易者出售，而不是加入看跌期权交易者。传统上，这可能采取出售信贷看涨期权利差的形式。但在GME的情况下，这意味着以比更接近资金的看涨期权更高的波动性购买（昂贵的）上行看涨期权（如上所述）。</blockquote></p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p><blockquote>因此，交易者可以考虑的一种期权策略是使用蝴蝶。期权交易通常与中性交易观点相关，但在这里适用于实际创建目标（看跌）方向观点。</blockquote></p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><blockquote>举个例子，这里有一只蝴蝶，其中心罢工集中在80美元的股票上，到期日为3月19日：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p><p><blockquote>这只130/80/30蝴蝶的盈亏平衡点为115和45，这意味着如果股票在3月19日到期时处于这两个价格之间，交易是有利可图的……如果股票处于或接近80美元，则会出现最大收益。它具有空头溢价的额外动力，如果股票保持在其范围内，如果隐含波动率被压缩，则按市值计算将会上涨。</blockquote></p><p></p>","source":"lsy1614334070724","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>Gamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</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\">\nGamestop And High Volatility Options<blockquote>游戏驿站和高波动性期权</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Options AI: Learn</strong><span class=\"h-time small\">2021-02-26 18:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><p><blockquote><b>游戏驿站公司。</b>过去几天股价飙升，较上周一度上涨近200%（但仍较近期轧空高点大幅下跌）。我们将看看像游戏驿站这样波动性很大的股票的期权中出现的独特情况，以及在交易期权之前可能需要考虑的一些事情。</blockquote></p><p><hr><b>Gamestop: The Expected Move</b></p><p><blockquote><hr/><b>游戏驿站：预期的举动</b></blockquote></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><blockquote>首先，看看期权如何为即将到来的走势定价。这是游戏驿站的期权AI预期走势图，预计本周五收盘价将出现近30%的走势。下个月的价格将上涨大约80%。包含盈利事件的月份（未经确认）：</blockquote></p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Gamestop: Call Spreads vs Outright Calls</p><p><blockquote>游戏驿站：看涨期权价差与彻底的评级</blockquote></p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p><blockquote>以3月19日为到期日，我们首先查看看涨利差，并直接与直接评级进行比较。像游戏驿站这样不稳定的股票，评级的股价可能会很昂贵。正因为如此，许多交易者诉诸远超本钱的评级买入。对上行评级的需求增加了这些评级的波动性，使其相对于平价评级的价格昂贵——这种现象被称为倾斜。然而，对于那些看涨的人来说，这可能会创造一个利用价差而不是直接购买看涨期权的机会。让我们看看怎么做。</blockquote></p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p><blockquote>在这里，我们将重点关注一种替代方案——使用借方利差来降低定向交易的总体成本（同时通过降低盈亏平衡水平来提高交易本身的盈利概率）。它通过出售那些相对昂贵的价外评级来帮助购买更接近价外的看涨期权来实现这一目标。</blockquote></p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p><blockquote>随着游戏驿站接近105美元，<b>3月19日110/190借方看涨期权利差</b>大约为15美元，目标是3月19日的看涨预期走势。借方看涨期权利差需要该股在3月19日高于125美元才能盈利。</blockquote></p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><blockquote>相比之下，GME 3月19日200评级的交易价格为29美元。这几乎是200美元看涨期权的成本的两倍，需要股票在3月19日之前高于229美元……而看涨期权的价差需要股票高于125美元。以下是期权人工智能图表上这两种交易的并排比较。一、200家看涨期权：</blockquote></p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And next, the 145/200 debit call spread:</p><p><blockquote>接下来，145/200借方看涨期权利差：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p><blockquote>正如您所看到的，看涨期权价差不仅更便宜，而且上涨盈利的点也更接近股票当前的交易价格。（如盈亏平衡的灰色价格所示。）</blockquote></p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p><blockquote>关于盈利概率的一个注记。这些交易显示的利润概率基于分配给交易盈亏平衡的delta。105美元股票的200看涨期权交易价格接近50 deltas，这一事实表明游戏驿站波动对其期权产生了多么扭曲的影响（难以借贷、扭曲零售对价外评级的需求）。</blockquote></p><p>Directional Butterflies vs Outright Puts</p><p><blockquote>定向蝶形与直接看跌期权</blockquote></p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p><blockquote>高波动性也会影响看跌期权交易。像游戏驿站这样的高波动性股票的一个反直觉的方面是，其隐含波动率可能会随着股票走高而上升，随着股票走低而下降。这与我们通常对波动性的看法相反。因此，随着股票走低，直接买入看跌期权会带来波动性崩溃（从而导致溢价崩溃）的风险。因此，即使股票正朝着预期的方向移动，作为期权持有者，您可能无法实现预期的收益。</blockquote></p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p><blockquote>应对股票高隐含波动率的一种方法（尤其是在持有看跌观点时）是成为期权溢价的净卖家。向看涨期权交易者出售，而不是加入看跌期权交易者。传统上，这可能采取出售信贷看涨期权利差的形式。但在GME的情况下，这意味着以比更接近资金的看涨期权更高的波动性购买（昂贵的）上行看涨期权（如上所述）。</blockquote></p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p><blockquote>因此，交易者可以考虑的一种期权策略是使用蝴蝶。期权交易通常与中性交易观点相关，但在这里适用于实际创建目标（看跌）方向观点。</blockquote></p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><blockquote>举个例子，这里有一只蝴蝶，其中心罢工集中在80美元的股票上，到期日为3月19日：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p><p><blockquote>这只130/80/30蝴蝶的盈亏平衡点为115和45，这意味着如果股票在3月19日到期时处于这两个价格之间，交易是有利可图的……如果股票处于或接近80美元，则会出现最大收益。它具有空头溢价的额外动力，如果股票保持在其范围内，如果隐含波动率被压缩，则按市值计算将会上涨。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://learn.optionsai.com/gamestop-and-high-volatility-options/\">Options AI: Learn</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":{"GME":"游戏驿站"},"source_url":"https://learn.optionsai.com/gamestop-and-high-volatility-options/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146313632","content_text":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.Gamestop: The Expected MoveFirst, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):Gamestop: Call Spreads vs Outright CallsUsing March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.With Gamestop near $105, the March 19th 110/190 Debit Call Spread is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:And next, the 145/200 debit call spread:As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).Directional Butterflies vs Outright PutsHigh volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368989970,"gmtCreate":1614272582690,"gmtModify":1703475729250,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368989970","repostId":"1165777611","repostType":4,"repost":{"id":"1165777611","kind":"news","pubTimestamp":1614247990,"share":"https://www.laohu8.com/m/news/1165777611?lang=zh_CN&edition=full","pubTime":"2021-02-25 18:13","market":"us","language":"en","title":"Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165777611","media":"Barrons","summary":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyana","content":"<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>","source":"lsy1601382232898","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>Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</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\">\nWall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-25 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA\">Barrons</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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165777611","content_text":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.\nPiper tech analystHarsh Kumarsays the timing is right for an Apple (ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.\nApple has so far declined to comment about any car plans recently.\nKumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.\nHe assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.\nFor tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.\nOne factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike WardtellsBarron’s.\nWard says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.\nMorgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.\nHe believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.\nThat threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.\nJ.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.\nThe firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.\nAnother thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.\nWedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”\nQuantumScape (QS) is pioneering solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.\nApple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.\nInvestors, it appears, have other more pressing issues on their minds.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368980686,"gmtCreate":1614272517145,"gmtModify":1703475728389,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368980686","repostId":"2114317810","repostType":4,"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363180858,"gmtCreate":1614102269074,"gmtModify":1634551158750,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363180858","repostId":"1107213324","repostType":4,"repost":{"id":"1107213324","kind":"news","pubTimestamp":1614076514,"share":"https://www.laohu8.com/m/news/1107213324?lang=zh_CN&edition=full","pubTime":"2021-02-23 18:35","market":"us","language":"en","title":"Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107213324","media":"MarketWatch","summary":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treas","content":"<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历史上跑赢大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>不断上升的美国国债收益率让股市不寒而栗，尤其是对于飙升的科技相关股票而言。但雷蒙德·詹姆斯表示，历史表明，当收益率“出于正确的原因”上升时，科技股和周期性敏感股往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)私人客户集团首席投资官拉里·亚当(Larry Adam)在周末报告中表示，正确的原因是“经济增长改善和通胀‘健康’上升”。这些原因将10年期国债收益率推至略低于1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam重点介绍了下图，该图细分了标普500 11个行业中每个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“自1990年以来，在利率上升的环境下，周期性较强的行业表现优于大盘，”亚当指出。“相对于标普500的平均年化表现及其跑赢标普500的时间百分比对于科技、非必需消费品和工业行业（我们的三个首选行业）来说是最大的”，而公用事业、房地产等股息收益率较高的行业和消费品往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克100指数下跌2.6%，纳斯达克综合指数下跌2.5%，跌幅最大。两者都倾向于大盘股、科技股。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上被归咎于政府支出增加和超宽松货币政策导致通胀可能飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通胀不仅不太可能“短路”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>他写道：“在分析标普500在不同核心通胀水平下的表现时，在核心通胀在1-4%之间的环境下，股市的表现高于平均水平。”</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当表示，当通胀与经济活动改善同时发生时，这些水平的通胀通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时也从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>Raymond James预计核心通胀率在2%左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）相对于标普500的平均同比表现最为强劲）和非必需消费品行业（+2%）。</blockquote></p><p></p>","source":"market_watch","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>Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</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\">\nCan the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否经受住通胀和债券收益率上升的考验？历史是这么说的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-23 18:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历史上跑赢大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>不断上升的美国国债收益率让股市不寒而栗，尤其是对于飙升的科技相关股票而言。但雷蒙德·詹姆斯表示，历史表明，当收益率“出于正确的原因”上升时，科技股和周期性敏感股往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)私人客户集团首席投资官拉里·亚当(Larry Adam)在周末报告中表示，正确的原因是“经济增长改善和通胀‘健康’上升”。这些原因将10年期国债收益率推至略低于1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam重点介绍了下图，该图细分了标普500 11个行业中每个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“自1990年以来，在利率上升的环境下，周期性较强的行业表现优于大盘，”亚当指出。“相对于标普500的平均年化表现及其跑赢标普500的时间百分比对于科技、非必需消费品和工业行业（我们的三个首选行业）来说是最大的”，而公用事业、房地产等股息收益率较高的行业和消费品往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克100指数下跌2.6%，纳斯达克综合指数下跌2.5%，跌幅最大。两者都倾向于大盘股、科技股。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上被归咎于政府支出增加和超宽松货币政策导致通胀可能飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通胀不仅不太可能“短路”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>他写道：“在分析标普500在不同核心通胀水平下的表现时，在核心通胀在1-4%之间的环境下，股市的表现高于平均水平。”</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当表示，当通胀与经济活动改善同时发生时，这些水平的通胀通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时也从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>Raymond James预计核心通胀率在2%左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）相对于标普500的平均同比表现最为强劲）和非必需消费品行业（+2%）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page\">MarketWatch</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","NDX":"纳斯达克100指数",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107213324","content_text":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note to just shy of 1.4%, or about their highest in a year. Yields also are coming off their largest weekly rise in six weeks.Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&P 500’s 11 sectors and the percentage of time each sector outperforms the S&P 500 in a rising rate environment.RAYMOND JAMES“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&P 500 and the percentage of time it outperforms the S&P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.The Dow Jones Industrial Average was positive, while the S&P 500 was off 0.8%.The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.“When analyzing how the S&P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).","news_type":1,"symbols_score_info":{"NDX":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385629818,"gmtCreate":1613545562834,"gmtModify":1634553217737,"author":{"id":"3575264690171965","authorId":"3575264690171965","name":"decayer888","avatar":"https://static.tigerbbs.com/828dc7d367ee9ed3b820e81d666f985e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264690171965","authorIdStr":"3575264690171965"},"themes":[],"htmlText":"This is not good","listText":"This is not good","text":"This is not good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385629818","repostId":"1120526689","repostType":4,"isVote":1,"tweetType":1,"viewCount":620,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}