{"id":33,"date":"2017-03-29T11:02:54","date_gmt":"2017-03-29T11:02:54","guid":{"rendered":"http:\/\/dobretrejdy.com\/?p=33"},"modified":"2022-01-04T18:11:22","modified_gmt":"2022-01-04T16:11:22","slug":"assignment-prirazeni-opci","status":"publish","type":"post","link":"https:\/\/dobretrejdy.com\/?p=33","title":{"rendered":"Assignment (p\u0159i\u0159azen\u00ed) opc\u00ed"},"content":{"rendered":"

\u00a0 \u00a0V\u00a0brzk\u00e9m r\u00e1nu mi zacvrlikal mobiln\u00ed telefon s\u00a0notifikac\u00ed z\u00a0Message Center m\u00e9ho brokera o jak\u00e9si ud\u00e1losti na m\u00e9m obchodn\u00edm \u00fa\u010dtu. Pohledem na stav m\u00e9ho portfolia zji\u0161\u0165uji, \u017ee se mi na \u00fa\u010dtu zni\u010dehonic objevilo 100 kusu Long akci\u00ed spole\u010dnosti Exxon Mobil Corp. (XOM)<\/strong>, kter\u00e9 jsem nem\u011bl v\u00a0\u017e\u00e1dn\u00e9m p\u0159\u00edpad\u011b v\u00a0\u00famyslu v\u016fbec vlastnit. Ano, m\u011bl jsem vyps\u00e1nu Short Put opci se strikem 80 na akcie t\u00e9to spole\u010dnost, ale vlastnit jsem je necht\u011bl. Nav\u00edc v\u00a0obchodn\u00ed platform\u011b vid\u00edm, \u017ee tato short opce mi z\u00a0\u00fa\u010dtu zmizela. Co se tedy stalo? M\u00e1 op\u010dn\u00ed pozice 1 x Short Put 80 se stala p\u0159edm\u011btem Assignment procedury, tedy tzv. p\u0159i\u0159azen\u00ed. Jak si to mohu vysv\u011btlit?<\/span><\/p>\n

\u00a0 Assignment<\/strong> (p\u0159i\u0159azen\u00ed) opce je v\u00fdsledkem Exercise Long opce<\/strong>, kter\u00e1 je na stejn\u00e9 podkladov\u00e9 aktivum, m\u00e1 stejn\u00fd strike a stejnou dobu expirace. Toto p\u0159i\u0159azen\u00ed m\u016f\u017ee postihnou jen ty op\u010dn\u00ed obchodn\u00edky, kte\u0159\u00ed dr\u017e\u00ed kr\u00e1tkou op\u010dn\u00ed pozici, jsou tedy Short Call nebo Short Put. P\u0159i\u0159azen\u00ed nemohu nijak ovlivnit a jsem zcela z\u00e1visl\u00fd na procedu\u0159e n\u011b\u010d\u00ed Exercise a n\u00e1sledn\u00e9ho v\u00fdb\u011bru m\u00e9 Short opce. P\u0159i\u0159azen\u00ed mus\u00edm jako vypisovatel opce strp\u011bt a zejm\u00e9na b\u00fdt na n\u011bj p\u0159ipraven. P\u0159i\u0159azen\u00ed na opci americk\u00e9ho typu mohu tedy za \u017eivota op\u010dn\u00edho kontraktu jako vypisovatel opce o\u010dek\u00e1vat t\u00e9m\u011b\u0159 kdykoliv, pravd\u011bpodobnost, jestli budu nebo nebudu p\u0159i\u0159azen z\u00e1vis\u00ed na mnoha tr\u017en\u00edch okolnostech, v\u00a0obecn\u00e9m smyslu v\u0161ak pravd\u011bpodobnost mo\u017enosti p\u0159i\u0159azen\u00ed dramaticky stoup\u00e1 s\u00a0t\u00edm, jak se m\u00e1 Short opce pono\u0159uje \u201edo pen\u011bz\u201c, obecn\u011b tedy, \u010d\u00edm v\u00edce je opce ITM t\u00edm je tato pravd\u011bpodobnost v\u011bt\u0161\u00ed.<\/span><\/p>\n

\u00a0 Je nutn\u00e9 se p\u0159i\u0159azen\u00ed ob\u00e1vat? Ano i ne, to z\u00e1le\u017e\u00ed na okolnostech, za jak\u00fdch jsem jako vypisovatel opci tuto vypsal a jak\u00e9 tr\u017en\u00ed podm\u00ednky nyn\u00ed panuj\u00ed.<\/span><\/p>\n

\u00a0\u00a0\u00a0 Vypisovatel (prodejce, seller) opce, kter\u00fd po\u0159izuje na sv\u016fj \u00fa\u010det Short op\u010dn\u00ed pozici, dost\u00e1v\u00e1 na sv\u016fj \u00fa\u010det za tuto transakci zaplaceno, z\u00edsk\u00e1v\u00e1 Pr\u00e9mium<\/strong>. Toto Pr\u00e9mium, pokud opci vyp\u00ed\u0161u (prod\u00e1m), mi ji\u017e nikdo nem\u016f\u017ee vz\u00edt. Toto se tak\u00e9 stalo, kdy\u017e jsem p\u0159ed \u010dtrn\u00e1cti dny vypsal Short Put opci na akcie XOM se strikem 80, kdy\u017e XOM se tehdy obchodoval za 82.30 USD. Moje vypsan\u00e1 opce byla \u201emimo pen\u00edze\u201c (OTM) a j\u00e1 spekuloval, \u017ee do expirace jej\u00ed cena neklesne pod strike m\u00e9 opce (pod 80) a tato opce p\u0159i expiraci vypr\u0161\u00ed jako bezcenn\u00e1. Za opci jsem p\u0159i jej\u00edm v\u00fdpisu utr\u017eil 130 USD jako Pr\u00e9mium. Tyto mi na \u00fa\u010dtu p\u0159ibyly a nikdo mi je ji\u017e nevezme. Proto\u017ee jsem opci prodal, mohu, ve sv\u011btle v\u00fd\u0161e uveden\u00e9ho, o\u010dek\u00e1vat p\u0159i\u0159azen\u00ed na t\u00e9to m\u00e9 opci. Je mi zn\u00e1mo, \u017ee pokud budu na t\u00e9to opci p\u0159i\u0159azen, obdr\u017e\u00edm na sv\u016fj \u00fa\u010det 100 x Long akcie XOM. Proto\u017ee m\u016fj strike opce je 80, budou mi akcie v\u00a0takov\u00e9m p\u0159\u00edpad\u011b p\u0159ips\u00e1ny na \u00fa\u010det za po\u0159izovac\u00ed hodnotu, kter\u00e1 je strikem m\u00e9 opce, co\u017e znamen\u00e1 za 80 USD\/kus. Proto\u017ee jsem ale utr\u017eil za opci Pr\u00e9mium ve v\u00fd\u0161i 130 USD moje po\u0159izovac\u00ed n\u00e1klady na p\u0159i\u0159azovan\u00e9 akcie se tak \u201evylep\u0161\u00ed\u201c pr\u00e1v\u011b o p\u0159ijat\u00e9 Pr\u00e9mium, tedy o 1.30 USD na ka\u017edou akcii. V\u00a0sou\u010dtu bych tak akcie po\u0159\u00eddil za 80 USD \u2013 1,30 USD (Pr\u00e9mium) = 78,70 USD za ka\u017ed\u00fd kus. Z\u00a0tohoto v\u00fdpo\u010dtu budu vych\u00e1zet a tento bude tvo\u0159it dva z\u00e1kladn\u00ed sc\u00e9n\u00e1\u0159e \u201eobav z\u00a0p\u0159i\u0159azen\u00ed\u201c<\/span><\/p>\n

V\u00edtan\u00e9 Assignment (p\u0159i\u0159azen\u00ed)<\/span><\/strong><\/h1>\n

\u00a0\u00a0\u00a0 Cena akcie XOM<\/strong> v\u00a0moment\u011b p\u0159i\u0159azen\u00ed m\u00e9 XOM Short Put na strike 80 bude nad 78.70 USD<\/strong>. Je jasn\u00e9, \u017ee ceny XOM se pohybuj\u00ed v\u00a0\u010dase r\u016fzn\u00fdmi sm\u011bry, nahoru, dol\u016f, stagnuj\u00ed, v\u00a0m\u00e9m p\u0159\u00edpad\u011b se toto po\u0159\u00e1d d\u011bje tak, \u017ee cena XOM je vy\u0161\u0161\u00ed ne\u017e 78.70 USD. Jsem na sv\u00e9 opci p\u0159i\u0159azen a pro ilustraci mohu p\u0159edpokl\u00e1dat, \u017ee cena je 80.50 USD. Akcie tedy od v\u00fdpisu m\u00e9 Sort opce klesala. V\u00fdsledkem p\u0159i\u0159azen\u00ed je Notice Of Assignment, rann\u00ed zpr\u00e1va od brokera o tom, \u017ee jsem byl na t\u00e9to opci p\u0159i\u0159azen a na \u00fa\u010dtu se mi objevuj\u00ed 100x Long akcie XOM. P\u0159i cen\u011b aktu\u00e1ln\u00ed XOM ve v\u00fd\u0161i 80.50 neud\u011bl\u00e1m nic jednodu\u0161\u0161\u00edho, \u017ee akcie ihned po Open trh\u016f za tuto cenu prod\u00e1m. Jak\u00e9 jsou v\u00fdsledky t\u00e9to operace. Za opci jsem utr\u017eil +130 USD, na p\u0159i\u0159azen\u00e9 100x Long akcie XOM za cenu strike 80 jsem vynalo\u017eil -8.000 USD, za jejich okam\u017eit\u00fd prodej za aktu\u00e1ln\u00ed tr\u017en\u00ed cenu 80.50 USD jsem utr\u017eil +8.050 USD. V\u0161e mi z\u00a0\u00fa\u010dtu zmizelo a z\u016fstaly pouze pen\u00edze jako v\u00fdsledek cel\u00e9 transakce, a to ve v\u00fd\u0161i profitu +180 USD<\/span><\/strong>. Zlat\u00e9 p\u0159i\u0159azen\u00ed. Takto s\u00a0kladn\u00fdm v\u00fdsledkem by to dopadlo v\u017edy, kdy\u017e je v\u00a0okam\u017eiku p\u0159i\u0159azen\u00ed moment\u00e1ln\u00ed cena akcie nad cenou 78.70 USD. V\u00a0takov\u00e9m p\u0159\u00edpad\u011b d\u011bkujeme dr\u017eiteli Long Put opce na strike 80, \u017ee na\u0159\u00eddil jej\u00ed Exercise a j\u00e1 byl vybr\u00e1n, \u017ee jsem byl na opci p\u0159i\u0159azen. D\u011bkuji takov\u00e9mu obchodn\u00edkovi, \u017ee mi daroval cel\u00e9 Pr\u00e9mium a je\u0161t\u011b mi dovolil n\u011bco vyd\u011blat na transakci s p\u0159i\u0159azen\u00fdmi\u00a0akciemi. Z\u00a0tohoto p\u0159\u00edkladu tak\u00e9 vypl\u00fdv\u00e1, \u017ee takov\u00e9 p\u0159i\u0159azen\u00ed bude velmi vz\u00e1cn\u00fdm jevem, proto\u017ee takovou transakci si dr\u017eitel\u00e9 Long opc\u00ed uv\u011bdomuj\u00ed a zcela jist\u011b by Exercise sv\u00e9 opce, kter\u00e1 je OTM (mimo pen\u00edze) nena\u0159\u00eddili.<\/span><\/p>\n

Nev\u00edtan\u00e9 Assignment (p\u0159i\u0159azen\u00ed)<\/span><\/strong><\/h1>\n

\u00a0\u00a0Cena akcie XOM<\/strong> v\u00a0moment\u011b p\u0159i\u0159azen\u00ed m\u00e9 XOM Short Put na strike 80 bude pod 78.70 USD<\/strong>. Po downtrendu na XOM, kter\u00fd jsem neo\u010dek\u00e1val, se cena XOM nach\u00e1z\u00ed pod 78.70 USD. Jsem na sv\u00e9 opci p\u0159i\u0159azen a pro ilustraci mohu p\u0159edpokl\u00e1dat, \u017ee cena je 78 USD. Cena akcie tedy od v\u00fdpisu m\u00e9 Short opce klesala, a to siln\u011b a\u017e pod m\u016fj strike, nyn\u00ed je ji\u017e m\u00e1 XOM Short Put opce na strike 80 ITM. V\u00fdsledkem p\u0159i\u0159azen\u00ed je op\u011bt Notice Of Assignment, rann\u00ed zpr\u00e1va od brokera o tom, \u017ee jsem byl na t\u00e9to opci p\u0159i\u0159azen a na \u00fa\u010dtu se mi objevuj\u00ed 100x akcie XOM. P\u0159i cen\u011b aktu\u00e1ln\u00ed XOM ve v\u00fd\u0161i 78 se rozhoduji, \u017ee pozici ukon\u010d\u00edm tak, \u017ee akcie ihned po Open trh\u016f za tuto cenu prod\u00e1m. Jak\u00e9 jsou v\u00fdsledky t\u00e9to operace. Za opci jsem utr\u017eil +130 USD, na p\u0159i\u0159azen\u00e9 100x Long akcie XOM za cenu strike 80 jsem vynalo\u017eil -8.000 USD, za jejich okam\u017eit\u00fd prodej za aktu\u00e1ln\u00ed tr\u017en\u00ed cenu 78 USD jsem utr\u017eil +7.800 USD. V\u0161e mi z\u00a0\u00fa\u010dtu zmizelo a z\u016fstaly pouze pen\u00edze, jako v\u00fdsledek cel\u00e9 transakce, a to ve v\u00fd\u0161i ztr\u00e1ty -70 USD<\/span><\/strong>. Ztr\u00e1tov\u00fd obchod. Takto se z\u00e1porn\u00fdm v\u00fdsledkem by to dopadlo v\u017edy, kdy\u017e je v\u00a0okam\u017eiku p\u0159i\u0159azen\u00ed moment\u00e1ln\u00ed cena akcie pod cenou 78.70 USD. V\u00a0takov\u00e9m p\u0159\u00edpad\u011b dr\u017eitel Long Put opce na strike 80 na sv\u00e9m na\u0159\u00edzen\u00e9m Exercise vyd\u011blal a m\u00e9 p\u0159i\u0159azen\u00ed vedlo ke ztr\u00e1tov\u00e9mu obchodu. Z\u00a0takov\u00e9ho p\u0159\u00edkladu tak\u00e9 vypl\u00fdv\u00e1, \u017ee takov\u00e9 p\u0159i\u0159azen\u00ed by mohlo b\u00fdt dosti pravd\u011bpodobn\u00e9, proto\u017ee d\u016fsledek takov\u00e9 transakce si dr\u017eitel\u00e9 Long opc\u00ed op\u011bt uv\u011bdomuj\u00ed. Na rozd\u00edl od n\u00e1s toti\u017e takovou Exercise Long Put 80 z\u00edsk\u00e1vaj\u00ed 100x Short akcie XOM za 80 USD a tyto maj\u00ed mo\u017enost okam\u017eit\u011b zlikvidovat za 78 USD. Dr\u017eitel\u00e9 Short podklad\u016f toti\u017e v\u017edy vyd\u011blaj\u00ed, kdy\u017e prodaj\u00ed dr\u00e1\u017e a levn\u011bji koup\u00ed zp\u011bt.<\/span><\/p>\n

\u00a0 Dal\u0161\u00edm p\u0159\u00edkladem \u201enev\u00edtan\u00e9ho p\u0159i\u0159azen\u00ed\u201c je spojeno s v\u00fdplatou dividendy<\/strong>. Pokud vyp\u00ed\u0161eme Short Call opci na akcii, kter\u00e1 vypl\u00e1c\u00ed Dividendu za \u017eivota opce a tato opce se v\u00a0noci na Ex-Dividend Day ocitne ITM, to znamen\u00e1 strike bude pod sou\u010dasnou cenou, je zna\u010dn\u00e1 pravd\u011bpodobnost, \u017ee budeme na takov\u00e9 opci p\u0159i\u0159azeni. Staneme se tzv, \u201eDividendov\u00e9 arbitr\u00e1\u017ee\u201c jej\u00ed\u017e techniky budu velmi podrobn\u011b popisovat v\u00a0jin\u00fdch \u010dl\u00e1nc\u00edch<\/strong>. Obecn\u011b je to ale v\u00a0principu v\u00fdsledek hromadn\u00e9ho Exercise dr\u017eitel\u016f ITM Long Call opc\u00ed na tuto akcii, kte\u0159\u00ed p\u0159ed Ex-Dividend Day cht\u011bj\u00ed nam\u00edsto sv\u00fdch Long Call cht\u00edt m\u00edt na \u00fa\u010dtu Long akcie, kter\u00e9 je oprav\u0148uj\u00ed ke zkas\u00edrov\u00e1n\u00ed dividendy. Nejhor\u0161\u00ed na takov\u00e9m p\u0159i\u0159azen\u00ed je ale skute\u010dnost, \u017ee jeho v\u00fdsledkem je obdr\u017een\u00ed dividendov\u00fdch Short akci\u00ed na m\u00e9m \u00fa\u010dtu v\u00a0noci p\u0159ed Ex-Dividend Day. To m\u00e1 za n\u00e1sledek, \u017ee je v\u00e1m je\u0161t\u011b z\u00a0\u00fa\u010dtu str\u017eena Dividenda v\u00a0pln\u00e9 v\u00fd\u0161i, ano je to tak, dr\u017eitel Short akcie mus\u00ed Dividendu zaplatit, pokud je m\u00e1 p\u0159ips\u00e1ny na \u00fa\u010det nejpozd\u011bji do Ex-Dividend Day, co\u017e se v\u00a0p\u0159\u00edpad\u011b takov\u00e9ho \u201edividendov\u00e9ho\u201c Assignment stane.<\/span><\/p>\n

\u00a0\u00a0 Garantem<\/strong> pln\u011bn\u00ed op\u010dn\u00edch kontrakt\u016f na americk\u00e9 akcie je clearingov\u00e1 instituce\u00a0OCC (Option Clearing Corporation<\/strong><\/a><\/span>), to u\u017e jsem uv\u00e1d\u011bl v\u00a0\u010dl\u00e1nku o Exercise. Zrekapituluji, do t\u00e9to instituce se sb\u00edhaj\u00ed po\u00a0ka\u017edodenn\u00edm\u00a0ukon\u010den\u00ed obchodov\u00e1n\u00ed v\u0161echny op\u010dn\u00ed kontrakty a jsou tam vypo\u0159\u00e1d\u00e1v\u00e1ny. OCC m\u00e1 sv\u00e9 \u010dleny – brokery – kte\u0159\u00ed pro sv\u00e9 klienty, op\u010dn\u00ed obchodn\u00edky, zprost\u0159edkovali n\u00e1kupy a prodeje op\u010dn\u00edch kontrakt\u016f, m\u00e1 tedy p\u0159ehled, kter\u00fd broker eviduje jak\u00e9 zobchodovan\u00e9 op\u010dn\u00ed kontrakty, technicky vzato vid\u00ed Open Interest v\u0161ech op\u010dn\u00edch kontrakt\u016f u jednotliv\u00fdch sv\u00fdch \u010dlen\u016f (members) a tak\u00e9 eviduje v\u0161echny pokyny k\u00a0exercise Long opc\u00ed, kter\u00e9 jednotliv\u00ed \u00fa\u010dastn\u00edci trhu (trade\u0159i) zadali. Pokud po ukon\u010den\u00ed obchodov\u00e1n\u00ed na op\u010dn\u00edch trz\u00edch doraz\u00ed v\u0161echny objedn\u00e1vky a pokyny do OCC, za\u010dne je zpracov\u00e1vat (clearing). Je to ale standardizovan\u00e1 procedura a nen\u00ed to nic chaotick\u00e9ho. Proces clearingu je n\u00e1sleduj\u00edc\u00ed sled operac\u00ed<\/span><\/p>\n

1.All Opening Buys, 2. All Opening Sells, 3. All Closing Buys, 4. Exercised, 5. All Closing Sells a 6. Assignments<\/strong><\/span><\/p>\n

\u00a0 Z\u00a0t\u00e9to chronologie pak m\u016f\u017eeme vy\u010d\u00edst odpov\u011b\u010f na ot\u00e1zku, jak se alespo\u0148 \u010d\u00e1ste\u010dn\u011b br\u00e1nit necht\u011bn\u00e9mu p\u0159i\u0159azen\u00ed \u2013 uzav\u0159\u00edt na\u0161i Short opci p\u0159ed zav\u0159en\u00edm trh\u016f. Pokud toti\u017e opci uzav\u0159eme, tak tato operace se v\u017edy \u201evy\u0159\u00edd\u00ed\u201c d\u0159\u00edve ne\u017e p\u0159ijde na \u0159adu operace posledn\u00ed Assignments.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0V\u00a0brzk\u00e9m r\u00e1nu mi zacvrlikal mobiln\u00ed telefon s\u00a0notifikac\u00ed z\u00a0Message Center m\u00e9ho brokera o jak\u00e9si ud\u00e1losti na m\u00e9m obchodn\u00edm \u00fa\u010dtu. Pohledem na stav m\u00e9ho portfolia zji\u0161\u0165uji, \u017ee se mi na \u00fa\u010dtu zni\u010dehonic objevilo 100 kusu Long akci\u00ed spole\u010dnosti Exxon Mobil Corp. (XOM), kter\u00e9 jsem nem\u011bl v\u00a0\u017e\u00e1dn\u00e9m p\u0159\u00edpad\u011b v\u00a0\u00famyslu v\u016fbec vlastnit. Ano, Continue Reading<\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":2093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[9,10],"class_list":["post-33","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opcni-zaklady","tag-assignment","tag-occ"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/dobretrejdy.com\/wp-content\/uploads\/2017\/03\/main1.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8zd8A-x","jetpack-related-posts":[{"id":30,"url":"https:\/\/dobretrejdy.com\/?p=30","url_meta":{"origin":33,"position":0},"title":"Exercise (uplatn\u011bn\u00ed) opc\u00ed","author":"dobretrejdy :c)","date":"29.3.2017","format":false,"excerpt":"\u00a0 \u00a0Exercise (uplatn\u011bn\u00ed) op\u010dn\u00edho kontraktu je nejmocn\u011bj\u0161\u00ed n\u00e1stroj vlo\u017een\u00fd do rukou dr\u017eitele opce a tvo\u0159\u00ed z\u00e1kladn\u00ed v\u00fdbavu obchodn\u00edho arsen\u00e1lu prot\u0159el\u00e9ho op\u010dn\u00edho obchodn\u00edka. Je neuv\u011b\u0159iteln\u00e9, jak m\u00e1lo je b\u011b\u017en\u00fdmi op\u010dn\u00edmi tradery Exercise vyu\u017e\u00edv\u00e1no a jak mal\u00e9 je pov\u011bdom\u00ed o jeho principu.\u00a0Exercise je pr\u00e1vo dr\u017eitele Long opce\u00a0americk\u00e9ho typu (Call nebo Put)\u00a0kdykoliv za\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed z\u00e1klady\u201c","block_context":{"text":"Op\u010dn\u00ed z\u00e1klady","link":"https:\/\/dobretrejdy.com\/?cat=2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/03\/main-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/03\/main-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/03\/main-2.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1922,"url":"https:\/\/dobretrejdy.com\/?p=1922","url_meta":{"origin":33,"position":1},"title":"Short Call","author":"dobretrejdy :c)","date":"24.5.2018","format":false,"excerpt":"\u00a0 \u00a0Op\u010dn\u00ed obchodov\u00e1n\u00ed vych\u00e1z\u00ed ze \u010dty\u0159ech z\u00e1kladn\u00edch mo\u017enost\u00ed. Ka\u017ed\u00fd op\u010dn\u00ed kontrakt Call nebo Put m\u016f\u017eu koupit nebo prodat. Za cel\u00fdm op\u010dn\u00edm tradingem a teoriemi stoj\u00ed tyto \u010dty\u0159i z\u00e1kladn\u00ed obchodn\u00ed mo\u017enosti. Nic dal\u0161\u00edho, \u017e\u00e1dn\u00e9 dal\u0161\u00ed varianty neexistuj\u00ed, existuj\u00ed jenom kombinace t\u011bchto \u010dty\u0159ech mo\u017enost\u00ed. Proto\u017ee jsem se ji\u017e zab\u00fdval podstatou Long op\u010dn\u00edch\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed z\u00e1klady\u201c","block_context":{"text":"Op\u010dn\u00ed z\u00e1klady","link":"https:\/\/dobretrejdy.com\/?cat=2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":2014,"url":"https:\/\/dobretrejdy.com\/?p=2014","url_meta":{"origin":33,"position":2},"title":"Short Put","author":"dobretrejdy :c)","date":"29.5.2018","format":false,"excerpt":"\u00a0 \u00a0Vypisov\u00e1n\u00edm Call opc\u00ed jsem se zab\u00fdval v\u00a0minul\u00e9m \u010dl\u00e1nku. Pokud jsem se v\u00a0n\u011bm vypo\u0159\u00e1dal s\u00a0n\u011bkter\u00fdmi aspekty takov\u00fdch op\u010dn\u00edch Call prodej\u016f, bude asi logick\u00e9 ukon\u010dit z\u00e1kladn\u00ed charakteristiku jednoduch\u00fdch op\u010dn\u00edch obchod\u016f pops\u00e1n\u00edm vlastnost\u00ed vypisov\u00e1n\u00ed Put opc\u00ed. Nebude to nic p\u0159ekvapiv\u00e9ho s\u00a0p\u0159ihl\u00e9dnut\u00edm k\u00a0p\u0159edchoz\u00edmu \u010dl\u00e1nku, z\u00a0mnoha pohled\u016f se bude jednat o chov\u00e1n\u00ed vypsan\u00e9ho op\u010dn\u00edho\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed z\u00e1klady\u201c","block_context":{"text":"Op\u010dn\u00ed z\u00e1klady","link":"https:\/\/dobretrejdy.com\/?cat=2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/05\/main-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":1790,"url":"https:\/\/dobretrejdy.com\/?p=1790","url_meta":{"origin":33,"position":3},"title":"Long Put","author":"dobretrejdy :c)","date":"28.4.2018","format":false,"excerpt":"\u00a0\u00a0 Nakoupen\u00ed Long Put op\u010dn\u00edho kontraktu b\u00fdv\u00e1 v\u011bt\u0161inou spojeno s p\u0159edstavou, \u017ee tvo\u0159\u00edm s\u00e1zku na pokles trh\u016f podkladov\u00e9ho aktiva a tento pokles zp\u016fsob\u00ed, \u017ee na nakoupen\u00e9 Long Put opci vyd\u011bl\u00e1m. Je to samoz\u0159ejm\u011b pravda, pokud je pokles ceny podkladu takov\u00fd, \u017ee aktu\u00e1ln\u00ed cena Long Put opce je vy\u0161\u0161\u00ed ne\u017e hodnota\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed z\u00e1klady\u201c","block_context":{"text":"Op\u010dn\u00ed z\u00e1klady","link":"https:\/\/dobretrejdy.com\/?cat=2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main-1.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1686,"url":"https:\/\/dobretrejdy.com\/?p=1686","url_meta":{"origin":33,"position":4},"title":"Vnit\u0159n\u00ed hodnota a Pr\u00e9mium","author":"dobretrejdy :c)","date":"8.4.2018","format":false,"excerpt":"\u00a0\u00a0\u00a0 Homonymum \u201eSink Or Swim\u201c zn\u00ed t\u00e9m\u011b\u0159 stejn\u011b jako n\u00e1zev skv\u011bl\u00e9 op\u010dn\u00ed analytick\u00e9 platformy z\u00a0minul\u00e9ho \u010dl\u00e1nku a zcela p\u0159esn\u011b vystihuje dialektiku tradingu, bu\u010f se mi poda\u0159\u00ed na trz\u00edch plavat nebo na nich utonu. Nev\u00edm, jestli vyn\u00e1lezci n\u00e1zvu t\u00e9to aplikace m\u011bli na mysli pr\u00e1v\u011b tyto protikladn\u00e9 procesy p\u0159e\u017eit\u00ed, ale platforma thinkorswim\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed z\u00e1klady\u201c","block_context":{"text":"Op\u010dn\u00ed z\u00e1klady","link":"https:\/\/dobretrejdy.com\/?cat=2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/04\/main.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":411,"url":"https:\/\/dobretrejdy.com\/?p=411","url_meta":{"origin":33,"position":5},"title":"Dividendy \u2013 III.","author":"dobretrejdy :c)","date":"20.5.2017","format":false,"excerpt":"\u00a0\u00a0 V\u00a0minul\u00e9m \u010dl\u00e1nku Dividendy \u2013 II.\u00a0jsem ukazoval re\u00e1ln\u00fd obchod, kter\u00fdm jsem se sna\u017eil vyu\u017e\u00edt fenom\u00e9n vypl\u00e1cen\u00ed Dividendy a dr\u017een\u00ed op\u010dn\u00edho kontraktu sou\u010dasn\u011b s\u00a0dr\u017een\u00edm Long akci\u00ed v obdob\u00ed Ex-Dividend Day. Jednalo se konkr\u00e9tn\u011b o Covered Call s\u00a0c\u00edlem z\u00edskat na takov\u00e9m ultrakr\u00e1tkodob\u00e9m obchodu n\u011bjak\u00fd profit vypl\u00fdvaj\u00edc\u00ed bu\u010f ze zisku Dividendy nebo ze\u2026","rel":"","context":"V \u201eDividendy\u201c","block_context":{"text":"Dividendy","link":"https:\/\/dobretrejdy.com\/?cat=28"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/obr-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/obr-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/obr-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/obr-2.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/33","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33"}],"version-history":[{"count":9,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/33\/revisions"}],"predecessor-version":[{"id":2094,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/33\/revisions\/2094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/media\/2093"}],"wp:attachment":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}