exercise price

简明释义

合约价

英英释义

例句

1.Investors often consider the exercise price when evaluating the potential profit from options.

投资者在评估期权潜在利润时，通常会考虑行使价格。

2.If the market price exceeds the exercise price, the option is considered 'in the money'.

如果市场价格超过行使价格，则该期权被视为“有利可图”。

3.The stock option grant has an exercise price of $50 per share.

这份股票期权授予的行使价格为每股50美元。

4.A lower exercise price can make a call option more attractive.

较低的行使价格可以使看涨期权更具吸引力。

5.When negotiating an employee stock option, the exercise price is a critical factor.

在谈判员工股票期权时，行使价格是一个关键因素。

作文

Understanding the concept of the exercise price is crucial for anyone involved in options trading or financial markets. The exercise price, also known as the strike price, is the predetermined price at which an option holder can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset. This price plays a pivotal role in determining the profitability of an options contract and is a key factor that traders consider when making their investment decisions.To illustrate the significance of the exercise price, let’s consider a practical example. Suppose an investor purchases a call option for Company XYZ with an exercise price of $50. If the market price of XYZ shares rises to $70 before the option expires, the investor can exercise the option, buying the shares at the exercise price of $50 and then selling them at the current market price of $70, thus realizing a profit of $20 per share. Conversely, if the market price falls below the exercise price, say to $40, the investor would likely choose not to exercise the option, as it would result in a loss.The exercise price is not only crucial for potential profits but also affects the overall strategy of trading options. Traders often select options with different exercise prices based on their market outlook. For instance, an investor who believes that the stock will rise significantly might opt for a call option with a higher exercise price, while someone with a more conservative approach may choose a lower exercise price to increase the chances of exercising the option profitably.Another important aspect to consider is the relationship between the exercise price and the current market price of the underlying asset. This relationship defines whether an option is 'in-the-money', 'at-the-money', or 'out-of-the-money'. An option is considered 'in-the-money' if exercising it would lead to a positive cash flow. For example, a call option is 'in-the-money' if the market price exceeds the exercise price. Conversely, a put option is 'in-the-money' if the market price is below the exercise price. Options that are 'at-the-money' have a market price equal to the exercise price, while those that are 'out-of-the-money' do not provide any immediate financial benefit if exercised.Furthermore, the exercise price is influenced by various factors, including market volatility, time until expiration, and the intrinsic value of the underlying asset. High volatility generally increases the premium of options, as the likelihood of the asset reaching the exercise price increases. Additionally, the closer an option gets to its expiration date, the more critical the exercise price becomes, as there is less time for the asset price to move favorably.In conclusion, grasping the concept of the exercise price is essential for successful options trading. It directly impacts the potential profitability of an options contract and informs strategic decisions made by traders. Whether one is a novice or an experienced trader, understanding how to evaluate and utilize the exercise price effectively can lead to more informed and potentially profitable investment choices in the financial markets.

理解执行价格的概念对任何参与期权交易或金融市场的人来说都是至关重要的。执行价格，也称为行使价格，是期权持有者可以以该预定价格购买（在看涨期权的情况下）或出售（在看跌期权的情况下）基础资产的价格。这个价格在确定期权合约的盈利能力方面起着关键作用，也是交易者在做出投资决策时考虑的一个重要因素。为了说明执行价格的重要性，让我们考虑一个实际的例子。假设一位投资者以执行价格为50美元购买了公司XYZ的看涨期权。如果XYZ股票的市场价格在期权到期之前上涨到70美元，投资者可以行使期权，以执行价格50美元买入股票，然后以当前市场价格70美元出售，从而实现每股20美元的利润。相反，如果市场价格跌破执行价格，例如降到40美元，投资者可能会选择不行使期权，因为这会导致损失。执行价格不仅对潜在利润至关重要，还影响期权交易的整体策略。交易者通常根据市场前景选择不同执行价格的期权。例如，相信股票将大幅上涨的投资者可能会选择具有较高执行价格的看涨期权，而采取更保守策略的人可能会选择较低的执行价格以增加盈利性行使期权的机会。另一个重要方面是执行价格与基础资产当前市场价格之间的关系。这种关系定义了期权是“价内”、“平价”还是“价外”。如果行使期权会导致正现金流，则该期权被视为“价内”。例如，当市场价格超过执行价格时，看涨期权被认为是“价内”。相反，当市场价格低于执行价格时，看跌期权才被视为“价内”。当期权的市场价格等于执行价格时，被称为“平价”，而那些无法通过行使获得任何即时财务利益的期权则被称为“价外”。此外，执行价格还受到多种因素的影响，包括市场波动性、到期时间和基础资产的内在价值。高波动性通常会增加期权的溢价，因为资产达到执行价格的可能性增加。此外，期权离到期日越近，执行价格就越重要，因为资产价格有更少的时间朝有利方向移动。总之，掌握执行价格的概念对于成功的期权交易至关重要。它直接影响期权合约的潜在盈利能力，并为交易者的战略决策提供信息。无论是新手还是经验丰富的交易者，理解如何有效评估和利用执行价格都能带来更明智、更有可能盈利的投资选择。