{"id":411,"date":"2017-05-20T13:00:46","date_gmt":"2017-05-20T13:00:46","guid":{"rendered":"http:\/\/dobretrejdy.com\/?p=411"},"modified":"2021-09-18T07:12:13","modified_gmt":"2021-09-18T05:12:13","slug":"dividendy-iii","status":"publish","type":"post","link":"https:\/\/dobretrejdy.com\/?p=411","title":{"rendered":"Dividendy \u2013 III."},"content":{"rendered":"

\u00a0\u00a0 V\u00a0minul\u00e9m \u010dl\u00e1nku Dividendy \u2013 II.<\/strong><\/a>\u00a0<\/span>jsem 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 samotn\u00e9 konstrukce Covered Call.<\/span><\/p>\n

\u00a0\u00a0 V\u00a0dne\u0161n\u00edm \u010dl\u00e1nku to nebude jin\u00e9. Na re\u00e1ln\u00e9m obchodu uk\u00e1\u017eu, jak takov\u00fd p\u0159\u00edstup je\u0161t\u011b vylep\u0161it a vyu\u017e\u00edt p\u0159i tom dal\u0161\u00ed znalosti a vlastnosti op\u010dn\u00edch kontrakt\u016f ve spojen\u00ed s\u00a0dr\u017een\u00edm dividendov\u00fdch akci\u00ed. Op\u011bt tak\u00e9 uk\u00e1\u017eu v\u0161echny postupn\u00e9 obchodn\u00ed kroky, kter\u00e9 jsem s\u00a0pozic\u00ed prov\u00e1d\u011bl, kolik m\u011b jednotliv\u00e9 \u00fakony st\u00e1ly a jak to nakonec dopadlo. Proto\u017ee je op\u011bt n\u011bkolik v\u00fdstupn\u00edch mo\u017enosti z\u00a0obchodu, uk\u00e1\u017eu tak\u00e9 \u201eWhat If\u201c rozbor variant, kter\u00e9 v\u00a0\u017eiv\u00e9m obchodu sice nakonec nenastaly, ale nastat mohly.<\/span><\/p>\n

\u00a0 Vyjdu ze z\u00e1kladn\u00edch obecn\u00fdch obchodn\u00edch p\u0159edpoklad\u016f<\/strong>, kter\u00fdch se budu sna\u017eit vyu\u017e\u00edt ke vstupu a v\u00fdstupu z\u00a0pozice.<\/span><\/p>\n

\u00a0\u00a0 1\/<\/strong> Dr\u017eitel Long Call<\/strong> opce americk\u00e9ho typu (kupec opce) m\u00e1 pr\u00e1vo prov\u00e9st<\/strong> jej\u00ed exercise<\/strong> (uplatn\u011bn\u00ed) kdykoliv za \u017eivota op\u010dn\u00edho kontraktu<\/strong>, tedy kdykoliv p\u0159ed jeho expirac\u00ed. V\u00fdsledkem t\u00e9to operace je \u201ep\u0159ivol\u00e1n\u00ed\u201c Long akci\u00ed na jeho obchodn\u00ed \u00fa\u010det za cenu strike opce. Pokud nedojde k\u00a0exercise za \u017eivota opce, tak tato exercise bude provedena automaticky p\u0159i expiraci, a to pouze v\u00a0p\u0159\u00edpad\u011b, \u017ee opce bude alespo\u0148 0,01 USD (jeden cent \u201ev pen\u011bz\u00edch\u201c (ITM), jinak opce vypr\u0161\u00ed jako bezcenn\u00e1.<\/span><\/p>\n

\u00a0\u00a0 Dr\u017eitel Short Call<\/strong> opce americk\u00e9ho typu (vypisovatel opce) nem\u00e1 \u017e\u00e1dn\u00e1 pr\u00e1va<\/strong> a mus\u00ed pouze \u010dekat, jestli bude v dob\u011b p\u0159ed expirac\u00ed mezi plej\u00e1dou vypisovatel\u016f ozna\u010den (assigned), aby splnil po\u017eadavek n\u011bkter\u00e9ho dr\u017eitele Long Call v\u00a0p\u0159\u00edpad\u011b, \u017ee tento provede exercise opce. Jeho povinnost\u00ed<\/strong> pak je, aby dodal 100 akci\u00ed<\/strong> dr\u017eiteli Long Call, pokud tyto akcie m\u00e1 na sv\u00e9m \u00fa\u010dtu, tak mu tyto akcie zmiz\u00ed, pokud je na sv\u00e9m \u00fa\u010dtu nem\u00e1, je mu otev\u0159ena pozice 100 x Short akci\u00ed. Pokud nedojde k\u00a0assignment (p\u0159i\u0159azen\u00ed) za \u017eivota opce, tak toto p\u0159i\u0159azen\u00ed bude provedeno automaticky p\u0159i expiraci, a to pouze v\u00a0p\u0159\u00edpad\u011b, \u017ee opce bude alespo\u0148 0,01 USD (jeden cent \u201ev pen\u011bz\u00edch\u201c (ITM), jinak opce vypr\u0161\u00ed jako bezcenn\u00e1.<\/span><\/p>\n

\u00a0 \u00a0Zkr\u00e1cen\u011b \u0159e\u010deno. Exercise je m\u00e9 pr\u00e1vo<\/strong>, kter\u00e1 m\u016f\u017eu kdykoliv vyu\u017e\u00edt. Assignment je naopak povinnost<\/strong>, kterou mus\u00edm splnit, ov\u0161em jen za p\u0159edpokladu, \u017ee spln\u011bn\u00ed po m\u011b n\u011bkdo vy\u017eaduje. Pokud nebudou strany op\u010dn\u00edho obchodu \u2013 Kupec x Vypisovatel nic d\u011blat, tak za n\u011b rozhodne expirace a skute\u010dnost, jestli je jejich opce v\u00a0pen\u011bz\u00edch. Jinak opce vypr\u0161\u00ed jako bezcenn\u00e9.<\/span><\/p>\n

\u00a0 \u00a02\/<\/strong> Call Bull Spread<\/strong><\/a><\/span>\u00a0je op\u010dn\u00ed slo\u017eenina, kdy po\u0159izujeme Long Call na ni\u017e\u0161\u00edm strike<\/strong> a Short Call na vy\u0161\u0161\u00edm strike<\/strong> ve stejn\u00e9 expiraci. Proto\u017ee kupujeme opci na ni\u017e\u0161\u00edm strike a prod\u00e1v\u00e1me na vy\u0161\u0161\u00edm strike a pokud tento obchod prov\u00e1d\u00edme najednou, je v\u017edy Long Call opce dra\u017e\u0161\u00ed ne\u017e Short Call opce a za takovou op\u010dn\u00ed slo\u017eeninu mus\u00edme v\u017edy zaplatit. Je to Debetn\u00ed operace, kter\u00e1 vy\u017eaduje vynalo\u017een\u00ed n\u00e1klad\u016f. Maxim\u00e1ln\u00ed mo\u017en\u00fd profit<\/strong> je rozd\u00edl strike<\/strong> opc\u00ed Call Bull Spreadu vyj\u00e1d\u0159en\u00fd v\u00a0dolarech, od kter\u00e9ho ode\u010d\u00edt\u00e1me n\u00e1klady na jeho po\u0159\u00edzen\u00ed<\/strong>. Maxim\u00e1ln\u00ed profit nastane pouze v p\u0159\u00edpad\u011b, pokud budou p\u0159i expiraci ob\u011b opce spreadu \u201ev pen\u011bz\u00edch\u201c<\/strong>. Call Bull Spread +148\/-150 po\u0159\u00edzen\u00fd za -80 USD bude m\u00edt maxim\u00e1ln\u00ed potenci\u00e1l profitu +200 USD (rozd\u00edl strike) \u2013 80 USD (n\u00e1klady) = maxim\u00e1ln\u00ed profit m\u016f\u017ee b\u00fdt +120 USD. Takov\u00fd nastane pouze a jenom v\u00a0p\u0159\u00edpad\u011b, \u017ee se cena podkladov\u00e9ho aktiva bude p\u0159i expiraci pohybovat nad hodnotou 150 USD – strike Short Call opce. Za \u017e\u00e1dn\u00fdch jin\u00fdch podm\u00ednek takov\u00fd maxim\u00e1ln\u00ed profit nedos\u00e1hneme. Pokud bychom likvidovali takov\u00fd Call Bull Spread na voln\u00e9m trhu, tak v\u017edy utrat\u00edme za Ask\/Bid spread n\u011bjak\u00e9 pen\u00edze i v\u00a0p\u0159\u00edpad\u011b, \u017ee se podkladov\u00e1 akcie obchoduje nap\u0159\u00edklad za 190 USD. P\u0159i expiraci ale budeme na obou opc\u00edch \u201ev pen\u011bz\u00edch\u201c a budou n\u00e1m d\u00edky exercise Long Call 148 dod\u00e1ny akcie za p\u0159esn\u011b 148 USD, aby n\u00e1m po sou\u010dasn\u00e9m p\u0159i\u0159azen\u00ed Short Call 150 byly za tuto cenu prod\u00e1ny s\u00a0\u010dist\u00fdm rozd\u00edle +200 USD. Po ode\u010dten\u00ed skute\u010dn\u00fdch n\u00e1klad\u016f ve v\u00fd\u0161i -80 USD n\u00e1m z\u016fst\u00e1v\u00e1 +120 USD profit.<\/span><\/p>\n

\u00a0 Oba tyto poznatky, porozum\u011bn\u00ed<\/strong> principu Exercise a Assignment<\/strong> a potenci\u00e1l<\/strong> profitu Call Bull Spreadu<\/strong>, se budu sna\u017eit vyu\u017e\u00edt za situace, kdy se k\u00a0t\u011bmto dvou poznatk\u016fm p\u0159ipoj\u00ed speci\u00e1ln\u00ed obchodn\u00ed okolnosti<\/strong> a mo\u017enosti spojen\u00e9 s\u00a0vypl\u00e1cen\u00edm Dividendy<\/strong> a existence Ex-Dividend Day<\/strong>.<\/span><\/p>\n

\n

ITM Call Bull Spread<\/strong><\/span><\/h1>\n

\u00a0\u00a0 Pozorov\u00e1n\u00edm Dividendov\u00fdch titul\u016f s\u00a0Ex-Dividend Day jsem si v\u00a0tomto t\u00fddnu k\u00a0uk\u00e1zkov\u00e9mu obchodu vyhl\u00e9dl akcii NVDA (Nvidia Corp.)<\/strong>. tato spole\u010dnost avizovala vypl\u00e1cen\u00ed Dividendy ve v\u00fd\u0161i 0,14 USD\/akcii<\/strong> a Ex-Dividend Day<\/strong> byl stanoven na p\u00e1tek 19.5.2017<\/strong>.\u00a0<\/span><\/p>\n

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\u00a0 Pro\u010d jsem si vybral zrovna tento titul? D\u016fvodem je vy\u0161\u0161\u00ed Implied Volatilita<\/strong> tohoto titulu (cca kolem 40%) co\u017e v\u00a0praktick\u00e9m d\u016fsledku znamen\u00e1, \u017ee op\u010dn\u00ed pr\u00e9mia budou vy\u0161\u0161\u00ed ne\u017e u klidn\u00fdch dividendov\u00fdch titul\u016f, kde se tato Implied Volatilita pohybuje nap\u0159\u00edklad v\u00a0rozmez\u00ed 15 % – 20 %. Takovou vy\u0161\u0161\u00ed volatilitu pot\u0159ebuji proto, \u017ee p\u0159i takov\u00e9 vy\u0161\u0161\u00ed \u00farovni Implied Volatility maj\u00ed opce, kter\u00e9 jsou hloub\u011bji \u201ev pen\u011bz\u00edch\u201c, st\u00e1le dost pr\u00e9mia, kter\u00e9 budu cht\u00edt \u201euko\u0159istit\u201c na kr\u00e1tkodob\u00e9m op\u010dn\u00edm obchodu. \u00a0<\/span><\/p>\n

\u00a0\u00a0 18.5.2017<\/strong>\u00a0ve \u010dtvrtek, co\u017e je den p\u0159ed Ex-Dividend Day,<\/strong> jsem se soust\u0159edil po otev\u0159en\u00ed trh\u016f na op\u010dn\u00ed \u0159et\u011bzec s\u00a0opcemi v\u00a0nejbli\u017e\u0161\u00ed expiraci<\/strong>, do kter\u00e9 z\u016fst\u00e1val pouze jeden den. V\u00a0pozdn\u00edm odpoledni jsem na titulu NVDA otev\u0159el ITM Call Bull Spread<\/strong><\/span>. Situaci je vid\u011bt na obr\u00e1zku.<\/span><\/p>\n

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\u00a0 \u00a0 ITM Call Bull Spread +126\/-128<\/strong> jsem ve \u010dtvrtek odpoledne po\u0159\u00eddil na opc\u00edch s\u00a0expirac\u00ed za jeden den<\/strong> (v p\u00e1tek), p\u0159i Implied Volatilit\u011b 44,30%<\/strong> (obd\u00e9ln\u00edk vpravo naho\u0159e). Long Call 126<\/strong> jsem po\u0159\u00eddil za -458 USD<\/strong> a Short Call 128<\/strong> jsem vypsal za +287 USD<\/strong>. N\u00e1klady na ITM Call Bull Spread tak jsou -458 USD + 287 USD = -171 USD<\/strong>. Maxim\u00e1ln\u00ed mo\u017en\u00fd profit<\/strong> je rozd\u00edlem strike v\u00a0dolarov\u00e9m vyj\u00e1d\u0159en\u00ed (2 body = 200 USD), od kter\u00e9ho ode\u010d\u00edt\u00e1m po\u0159izovac\u00ed n\u00e1klady, v\u00a0m\u00e9m p\u0159\u00edpad\u011b tedy +200 USD (maxim\u00e1ln\u00ed profit) \u2013 171 USD (n\u00e1klady) = +29 USD<\/strong><\/span>.<\/span><\/p>\n

\u00a0 \u00a0V\u00a0obr\u00e1zku jsem b\u00edl\u00fdmi krou\u017eky ozna\u010dil Open Interest<\/strong> na jednotliv\u00fdch strikes. Nelze si nev\u0161imnout, \u017ee Open Interest (po\u010det otev\u0159en\u00fdch op\u010dn\u00edch kontrakt\u016f) na strike 125 je 5.670 a sou\u010det Open Interes na strikes 127, 128 a 129 je 4.890, tedy p\u0159ibli\u017en\u011b stejn\u00e9 \u010d\u00edslo. Vypad\u00e1 to, jako by na t\u011bchto strikes n\u011bkdo tak\u00e9 otev\u00edral mno\u017estv\u00ed podobn\u00fdch Vertik\u00e1ln\u00edch Spread\u016f jako m\u00e1m j\u00e1. Proto\u017ee u Open Interest nev\u00edm, jestli je op\u010dn\u00ed kontrakt Open to Buy nebo Open to Sell, nemohu pak vyhodnocovat, jestli je m\u00e1 domn\u011bnka spr\u00e1vn\u00e1 nebo nikoliv, jist\u00e9 n\u00e1znaky ale takto pozorovat mohu. \u201eSoum\u011brnost\u201c takov\u00e9ho Open Interest na t\u011bchto strike bude p\u0159edm\u011btem p\u0159\u00ed\u0161t\u00edho \u010dl\u00e1nku, tak\u017ee jeho vysv\u011btlen\u00ed nyn\u00ed ponech\u00e1m stranou.<\/span><\/p>\n

\u00a0 \u00a0Profitabilita m\u00e9ho ITM Call Bull Spreadu se nyn\u00ed tedy odv\u00edj\u00ed od jedin\u00e9 mo\u017en\u00e9 situace. Abych obdr\u017eel maxim\u00e1ln\u00ed profit<\/strong>, mus\u00ed cel\u00fd spread z\u016fstat a\u017e do expirace \u201ev pen\u011bz\u00edch\u201c<\/strong>. Jenom\u017ee do konce dne\u0161n\u00edho \u010dtvrte\u010dn\u00edho obchodn\u00edho dne jsou je\u0161t\u011b zhruba 3 hodiny a k\u00a0tomu je je\u0161t\u011b cel\u00fd p\u00e1te\u010dn\u00ed obchodn\u00ed den, to by tak\u00e9 nemuselo v\u016fbec vyj\u00edt (akcie m\u016f\u017ee klesnout), a nav\u00edc, co to m\u00e1 spole\u010dn\u00e9ho s\u00a0Dividendou?<\/strong><\/span><\/p>\n

\u00a0 Dividenda je kl\u00ed\u010dem k\u00a0\u00fasp\u011bchu<\/strong>. Jej\u00ed v\u00fd\u0161e m\u011b nyn\u00ed vlastn\u011b v\u016fbec nezaj\u00edm\u00e1. Co m\u011b ale velmi zaj\u00edm\u00e1 je skute\u010dnost, \u017ee s\u00a0v\u00fdplatou Dividendy jsou v\u00a0den p\u0159edch\u00e1zej\u00edc\u00ed Ex-Dividend Day spojeny mas\u00edvn\u00ed exercise Long Call opc\u00ed, kter\u00e9 jsou ITM. Tohoto efektu se budu sna\u017eit vyu\u017e\u00edt. Ud\u011bl\u00e1m to jednodu\u0161e.<\/span><\/p>\n

\u00a0\u00a0 1\/<\/strong> Po<\/strong> Close trh\u016f ve \u010dtvrtek<\/strong> provedu exercise m\u00e9 ITM Long Call 126 opce<\/strong><\/span> a na m\u016fj \u00fa\u010det p\u0159ivol\u00e1m 100 x Long akci\u00ed NVDA<\/strong> za cenu strike 126 USD<\/strong>. Na m\u00e9m \u00fa\u010dtu pak bude pozice ITM Short Call 128 a 100 x Long akci\u00ed NVDA za cenu strike 126 USD\/kus. Budu m\u00edt ITM Covered Call<\/strong>, tedy stejnou pozici jako v\u00a0minul\u00e9m \u010dl\u00e1nku<\/span><\/p>\n

\u00a0 \u00a02\/<\/strong> Budu pak spol\u00e9hat<\/strong>, \u017ee m\u00e1 ITM Short Call 128<\/strong> z\u00a0Covered Call bude kv\u016fli dividendov\u00e9 aktivit\u011b p\u0159i\u0159azena<\/span><\/strong>. V\u00a0takov\u00e9m p\u0159\u00edpad\u011b mi budou dod\u00e1ny 100 x Short akcie NVDA za cenu strike 128 USD a m\u00e9 akciov\u00e9 pozice se vyru\u0161\u00ed a zmiz\u00ed tak\u00e9 m\u00e1 opce. V\u0161echno zmiz\u00ed, stejn\u011b jako p\u0159i expiraci, pouze o jeden den d\u0159\u00edve<\/strong>.<\/span><\/p>\n

\u00a0\u00a0 Jak to tedy prob\u011bhlo prakticky. Po \u010dtvrte\u010dn\u00edm Close po 22:00 na\u0161eho \u010dasu jsem otev\u0159el v\u00a0platform\u011b okno s\u00a0pokynem k exercise m\u00fdch opc\u00ed. Mohu vid\u011bt situaci na p\u0159ilo\u017een\u00e9m obr\u00e1zku<\/span><\/p>\n

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\u00a0 \u00a0Na obr\u00e1zku je vid\u011bt m\u00e1 Long Call 126<\/strong> opce na NVDA u kter\u00e9 se mi v\u00a0rozbalovac\u00edm menu ozna\u010den\u00e9m horn\u00ed b\u00edlou \u0161ipkou nab\u00edz\u00ed<\/strong> mo\u017enost \u201eEarly Exercise\u201c<\/strong>. Tento pokyn vyb\u00edr\u00e1m a prov\u00e1d\u00edm<\/strong>. Pov\u0161imn\u011bte si brokersk\u00e9 pozn\u00e1mky u m\u00e9 Short Call 128 (ozna\u010deno spodn\u00ed b\u00edlou \u0161ipkou), kter\u00e1 upozor\u0148uje na pravd\u011bpodobnost p\u0159i\u0159azen\u00ed t\u00e9to Short Call opce z\u00a0d\u016fvodu v\u00fdplaty Dividendy. Okno s\u00a0pokynem k\u00a0exercise se otev\u00edr\u00e1 spole\u010dn\u011b s\u00a0dal\u0161\u00edm \u201epomocn\u00fdm oknem\u201c, kter\u00e9 je na obr\u00e1zku n\u00ed\u017ee<\/span><\/p>\n

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\u00a0 Z\u00a0obr\u00e1zku je patrn\u00e9, a vyzna\u010dil jsem tuto informaci b\u00edl\u00fdm obd\u00e9ln\u00edkem, \u017ee instrukci k\u00a0exercise Long opce je zapot\u0159eb\u00ed zadat po Close do 22:40<\/strong> na\u0161eho \u010dasu. M\u00e1m tedy slabou t\u0159i\u010dtvrt\u011bhodinku po uzav\u0159en\u00ed trh\u016f k\u00a0tomu, abych se po Close rozhodl, \u017ee takovou operaci uskute\u010dn\u00edm. To je komfortn\u00ed \u010dasov\u00e1 z\u00f3na, ceny akci\u00ed a opc\u00ed se ji\u017e nepohybuj\u00ed a j\u00e1 tak m\u00e1m mo\u017enost takovou volbu v\u00a0klidu zv\u00e1\u017eit.<\/span><\/p>\n

\u00a0\u00a0 Pokyn k\u00a0exercise jsem tedy po \u010dtvrte\u010dn\u00edm Close zadal a odsouhlasil a na m\u00e9m \u00fa\u010dtu se okam\u017eit\u011b<\/strong> objevily 100 x Long akcie NVDA<\/strong> za cenu strike, co\u017e je 126 USD<\/strong>. Na obr\u00e1zku je TradeLog po takto proveden\u00e9 exercise se se\u0159azenou \u010dasovou rekapitulac\u00ed toho, jak jsem po cel\u00fd \u010dtvrtek nakl\u00e1dal s\u00a0titulem NVDA<\/span><\/p>\n

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\u00a0 Mohu pak z\u00a0obr\u00e1zku vy\u010d\u00edst, ozna\u010deno \u010d\u00edsly:<\/span><\/p>\n

\u00a0\u00a0 1\/<\/strong> Z\u00a0\u0159\u00e1dku ozna\u010den\u00e9m jedni\u010dkou<\/strong> vypl\u00fdv\u00e1, \u017ee jsem ve \u010dtvrtek v 18:44<\/strong> na\u0161eho \u010dasu po\u0159\u00eddil ITM Call Bull Spread +126\/-128<\/strong> za cenu 168 USD a zaplatil poplatky ve v\u00fd\u0161i 2.19 USD, n\u00e1klady jsem m\u011bl zaokrouhleno na cel\u00e9 dolary ve v\u00fd\u0161i\u00a0-171 USD<\/strong><\/span><\/p>\n

\u00a0\u00a0 2\/<\/strong> Z\u00a0\u0159\u00e1dku ozna\u010den\u00e9m dvojkou<\/strong> vypl\u00fdv\u00e1, \u017ee jsem ve \u010dtvrtek ve 22:11<\/strong> na\u0161eho \u010dasu provedl exercise m\u00e9 Long Call 126<\/strong>, kter\u00e1 mi zmizela z \u00fa\u010dtu<\/span><\/p>\n

\u00a0\u00a0 3\/<\/strong> Z\u00a0\u0159\u00e1dku ozna\u010den\u00e9m trojkou<\/strong> vypl\u00fdv\u00e1, \u017ee jsem ve \u010dtvrtek ve 22:11<\/strong> na\u0161eho \u010dasu obdr\u017eel 100 x Long akcie NVDA<\/strong> jako v\u00fdsledek exercise za cenu strike m\u00e9 Long Call 126, tedy za cenu 126 USD\/kus<\/strong><\/span><\/p>\n

\u00a0 Vy\u010derp\u00e1n \u010dtvrte\u010dn\u00edmi \u201en\u00e1ro\u010dn\u00fdmi transakcemi\u201c ul\u00e9h\u00e1m a nech\u00e1v\u00e1m v\u0161e dal\u0161\u00edmu osudu, kter\u00fdm by m\u011bla b\u00fdt no\u010dn\u00ed Dividendov\u00e1 aktivita s\u00a0p\u0159i\u0159azov\u00e1n\u00edm ITM Call opc\u00ed, kdy\u017e jeden takov\u00fd kousek (Short Call 128) m\u00e1m na sv\u00e9m \u00fa\u010dtu, tento je ale kryt\u00fd 100 x Long akciemi podkladu.<\/span><\/p>\n

\u00a0 \u00a0P\u0159ed osmou hodinou rann\u00ed v\u00a0p\u00e1tek dost\u00e1v\u00e1m od brokera o\u010dek\u00e1vanou zpr\u00e1vu, \u017ee m\u00e1 Short Call 128<\/strong> byla assigned<\/strong> (p\u0159i\u0159azena), zpr\u00e1va je vid\u011bt na n\u00ed\u017ee uveden\u00e9m obr\u00e1zku.<\/span><\/p>\n

\"\"<\/p>\n

\u00a0\u00a0 Takovou zpr\u00e1vu jsem o\u010dek\u00e1val<\/strong>. V\u0161e prob\u011bhlo tak, jak m\u011blo a jak jsem si napl\u00e1noval. Trade Log po t\u00e9to rann\u00ed p\u00e1te\u010dn\u00ed transakci<\/strong> vypadal takto.<\/span><\/p>\n

\"\"<\/span><\/p>\n

\u00a0 \u010c\u00edslicemi 1., 2. a 3.<\/strong> jsou ozna\u010deny \u010dtvrte\u010dn\u00ed odpoledn\u00ed transakce popisovan\u00e9 v\u00fd\u0161e, \u010d\u00edslicemi 4. a 5.<\/strong> jsou ozna\u010deny p\u00e1te\u010dn\u00ed rann\u00ed transakce. Z nich vypl\u00fdv\u00e1, \u017ee jsem v\u00a0p\u00e1tek v 7:51<\/strong> na\u0161eho \u010dasu byl na Short Call 128 assigned<\/strong> a na \u00fa\u010det mi byly dod\u00e1ny 100 x Short akcie<\/strong> NVDA za cenu strike 128 USD\/kus<\/strong>.<\/span><\/p>\n

\u00a0\u00a0 Deal Is Done. Obchod je uzav\u0159en<\/strong>. V\u0161e mi z\u00a0\u00fa\u010dtu zmizelo a z\u016fstaly pouze pen\u00edze, maxim\u00e1ln\u00ed mo\u017en\u00fd profit ve v\u00fd\u0161i +29 USD<\/strong>. Dopadlo to p\u0159esn\u011b tak, jak jsem si p\u0159edstavoval. Za necel\u00e9 \u010dty\u0159i hodiny v trhu to nen\u00ed \u0161patn\u00e9. Dividendy m\u011b v\u00a0tomto p\u0159\u00edpad\u011b nezaj\u00edmaj\u00ed. Ze \u010dtvrte\u010dn\u00edho Close jsem si vyrobil expira\u010dn\u00ed p\u00e1tek<\/strong><\/span>, to byl ten hlavn\u00ed d\u016fvod<\/strong><\/span>, \u00a0a pro\u010d jsem Dividendu na titulu NVDA sledoval a vyu\u017eil efekty spojen\u00e9 s\u00a0jej\u00ed v\u00fdplatou.<\/span><\/p>\n

\n

What If<\/strong><\/span><\/h1>\n

\u00a0 P\u0159esto\u017ee se obchod vyda\u0159il, je dobr\u00e9 prostudovat a analyzovat varianty, kter\u00e9 by mohly nastat, kdyby se takto ide\u00e1ln\u011b obchod nevyv\u00edjel. Na obr\u00e1zku n\u00ed\u017ee je vid\u011bt pr\u016fb\u011bh ceny NVDA od po\u0159\u00edzen\u00ed obchodu a\u017e do p\u00e1te\u010dn\u00ed expirace. \u010cervenou horizont\u00e1ln\u00ed \u010d\u00e1rou je vyzna\u010dena \u00farove\u0148 m\u00e9 Short Call 128 opce, kter\u00e1 po exercise Long Call z\u016fstala \u201eve h\u0159e\u201c spolu s\u00a0Long akciemi.<\/span><\/p>\n

\"\"<\/p>\n

\u00a0 \u00a0Jak\u00e9 sc\u00e9n\u00e1\u0159e by tedy mohly nastat, pokud bych se vr\u00e1til do obdob\u00ed \u010dtvrte\u010dn\u00edho Close<\/strong>, kdy jsem prov\u00e1d\u011bl exercise m\u00e9 Long Call<\/strong>.<\/span><\/p>\n

1\/ Covered Call bez Assignment<\/span><\/strong><\/h2>\n

\u00a0\u00a0 \u00a0Po proveden\u00e9 exercise\u00a0 by vytvo\u0159en\u00fd Covered Call s\u00a0ITM Short Call 128<\/strong> a Long akciemi<\/strong> mohl dopadnout tak, \u017ee m\u00e1 Short Call 128 opce<\/strong> by z\u016fstala nep\u0159i\u0159azena<\/strong><\/span>. V\u00a0takov\u00e9m p\u0159\u00edpad\u011b bych obdr\u017eel Dividendu ve v\u00fd\u0161i +14 USD, po ode\u010dten\u00ed dan\u011b 15% bych inkasoval \u010distou Dividendu ve v\u00fd\u0161i\u00a0+11,90 USD<\/strong>. Proto\u017ee by Short Call 128 opce z Covered Call byla v expira\u010dn\u00ed p\u00e1tek siln\u011b \u201ev pen\u011bz\u00edch\u201c, nechal bych takovou pozici dob\u011bhnout do Close a opci nechal vyexpirovat. Proto\u017ee by byla \u201ev pen\u011bz\u00edch\u201c i p\u0159i expiraci, byly by mi doru\u010deny b\u011bhem soboty 100 x Short akcie za 128 USD\/kus, kter\u00e9 by byly kompenzov\u00e1ny m\u00fdmi dr\u017een\u00fdmi 100 x Long akciemi a do\u0161ly by tak op\u011bt k\u00a0maxim\u00e1ln\u00edmu zhodnocen\u00ed p\u016fvodn\u00edho ITM Call Bull Spreadu ve v\u00fd\u0161i +29 USD<\/strong>, jenom bych vylep\u0161il tento profit o p\u0159ijatou Dividendu<\/strong> ve v\u00fd\u0161i +11.90 USD<\/strong>, celkov\u011b bych m\u011bl profit ve v\u00fd\u0161i +40.90 USD<\/strong>.<\/span><\/p>\n

\u00a0\u00a0 Pokud bych se rozhodl Covered Call<\/strong>, kter\u00fd nebyl na Short Call 128<\/strong> v\u00a0noci na Ex-Dividend Day p\u0159i\u0159azen<\/strong>, likvidovat po Open na Ex-Dividend Day, tak by platilo v\u0161echno o v\u00fdstupn\u00edch technik\u00e1ch, kter\u00e9 jsem popisoval v\u00a0\u010dl\u00e1nku Dividendy \u2013 II<\/span>.<\/strong><\/a>\u00a0Nyn\u00ed to proto ji\u017e nebudu popisovat v tomto \u010dl\u00e1nku.<\/span><\/p>\n

2\/ Call Bull Spread bez Exercise<\/strong><\/span><\/h2>\n

\u00a0\u00a0 \u00a0Neprovedl bych \u010dtvrte\u010dn\u00ed Exercise Long Call 126<\/strong><\/span>. Cel\u00fd Call Bull Spread by tak z\u016fstal nezm\u011bn\u011bn v noci na Ex-Dividend Day. To by se samoz\u0159ejm\u011b mohlo re\u00e1ln\u011b p\u0159ihodit. Nem\u011bl bych nap\u0159\u00edklad voln\u00e9 pen\u00edze na n\u00e1kup akci\u00ed spojen\u00fd s exercise Long Call opce nebo by mohly nastat prozai\u010dt\u011bj\u0161\u00ed d\u016fvody, jako je nap\u0159\u00edklad p\u0159eru\u0161en\u00ed internetov\u00e9ho spojen\u00ed, v\u00fdpadek platformy nebo bych mohl dokonce na takovou exercise zapomenout. Mohl bych tak\u00e9 celou situaci a n\u00e1hled na Call Bull Spread p\u0159ehodnotit a z obchodn\u00edch d\u016fvod\u016f toto Exercise Long Call neprov\u00e1d\u011bt. Potom bych mohl o\u010dek\u00e1vat tyto mo\u017enosti<\/span><\/p>\n

\u00a0\u00a0 A\/<\/strong> Short Call 128 z ITM Call Bull Spreadu by z\u016fstala nep\u0159i\u0159azena<\/strong>. Cel\u00fd ITM Call Bull Spread by pokra\u010doval ve sv\u00e9 cest\u011b k\u00a0p\u00e1te\u010dn\u00ed expiraci. Bu\u010f by z\u016fstal cel\u00fd v\u00a0pen\u011bz\u00edch a vyd\u011blal bych op\u011bt p\u0159i t\u00e9to expiraci sv\u00fdch maxim\u00e1ln\u00edch +29 USD. Pokud by cena akcie NVDA klesala, tak m\u016fj Break Even bod<\/strong> cel\u00e9ho spreadu by le\u017eel na hodnot\u011b strike Long Call 126 + n\u00e1klady vynalo\u017een\u00e9 na jeho po\u0159\u00edzen\u00ed, v\u00a0m\u00e9m p\u0159\u00edpad\u011b 126 + 1,71 USD = 127,71 USD<\/strong>. Pod touto hodnotou p\u0159i p\u00e1te\u010dn\u00edm Close by byla \u201en\u011bjak\u201c pozice ztr\u00e1tov\u00e1. Celou ztr\u00e1tu ve v\u00fd\u0161i n\u00e1klad\u016f -171 USD na Call Bull Spread bych utrp\u011bl, kdyby akcie NVDA skon\u010dily p\u0159i expiraci pod strike Long Call 126, ob\u011b opce spreadu by vypr\u0161ely jako bezcenn\u00e9. V\u0161echno jsem popisoval v\u00a0\u010dl\u00e1nku Call Bull Spread.<\/strong><\/a><\/span><\/span><\/p>\n

\u00a0 B\/ Short Call 128 z ITM Call Bull Spreadu by byla p\u0159i\u0159azena<\/strong>. To by v\u016fbec nebylo \u0161patn\u00e9<\/strong>. M\u011bl bych toti\u017e Long Call 126 a 100 x Short akcie NVDA za cenu 128 USD\/kus. Musel bych samoz\u0159ejm\u011b zaplatit Dividendu<\/strong> ve v\u00fd\u0161i -14 USD<\/strong>, proto\u017ee m\u00e1m Short dividendov\u00e9 akcie v\u00a0noci na Ex-Dividend Day. M\u00e9 n\u00e1klady by byly -171 USD za Call Bull Spread a +12.800 USD jako tr\u017ebu za Short akcie \u2013 zaplacen\u00e1 Dividenda ve v\u00fd\u0161i -14 USD, celkem bych m\u011bl tr\u017ebu za celou pozici ve v\u00fd\u0161i\u00a0+12.615 USD<\/strong>. A nyn\u00ed\u2026<\/span><\/p>\n

\u00a0 \u00a0B1.\/ Pokud by akcie rostly<\/span><\/strong>, tak v\u017edycky<\/strong> bych mohl prov\u00e9st exercise Long Call 126<\/strong> a p\u0159ivolan\u00e9 Long akcie za 126 USD\/kus by kompenzovaly m\u00e9 Short akcie po\u0159\u00edzen\u00e9 za 128 USD\/kus. Akcie si tak mohou r\u016fst kam cht\u011bj\u00ed, bylo by mi to jedno. Na takovou transakci bych pak v\u017edy vynalo\u017eil -12.600 USD. M\u016fj profit by pak byl p\u016fvodn\u00ed tr\u017eba ve v\u00fd\u0161i +12.615,- USD m\u00ednus n\u00e1klady na exercise ve v\u00fd\u0161i -12.600 USD = profit +15 USD<\/strong>. \u00a0\u00a0<\/span><\/p>\n

\u00a0 \u00a0B2.\/ Pokud by akcie klesaly<\/span><\/strong>, tak v\u017edycky bych mohl st\u00e1le prov\u00e9st exercise Long Call 126<\/strong> podle p\u0159edchoz\u00edho bodu a p\u0159ivolan\u00e9 Long akcie za 126 USD\/kus by kompenzovaly m\u00e9 Short akcie po\u0159\u00edzen\u00e9 za 128 USD\/kus. Na takovou transakci bych v\u017edy vynalo\u017eil -12.600 USD. M\u016fj profit by pak byl p\u016fvodn\u00ed tr\u017eba ve v\u00fd\u0161i +12.615,- USD m\u00ednus n\u00e1klady na exercise ve v\u00fd\u0161i -12.600 USD = profit +15 USD.<\/strong> Toto bych v\u017edy prov\u00e1d\u011bl v p\u0159\u00edpad\u011b, kdyby akcie klesaly<\/strong>\u00a0do hodnoty\u00a0strike Long Call 126<\/strong>. Pokud by se propadly pod tento strike<\/strong>, tak Long Call 126 by byla bezcenn\u00e1. Short akcie po\u0159\u00edzen\u00e9 za 128 USD by v\u0161ak za\u010daly slu\u0161n\u011b vyd\u011bl\u00e1vat<\/strong>. Akcie si tak mohou padat kam cht\u011bj\u00ed, ale u\u017e by mi to nebylo jedno, proto\u017ee naopak bych jim dr\u017eel palce, a\u0165 spadnou co nejv\u00edce. Pokles na cenu nap\u0159\u00edklad 125 USD (jeden dolar pod strike p\u016fvodn\u00edho Call Bull Spreadu) by pak znamenal, \u017ee akcie po\u0159\u00edzen\u00e9 za 128 prod\u00e1m za 125 USD a na tuto likvidaci akci\u00ed vynakl\u00e1d\u00e1m -12.500 USD. Z celkov\u00e9 tr\u017eby +12.615 USD bych vynalo\u017eil -12.500 USD na likvidaci a m\u016fj profit<\/strong> by byl +115 USD<\/strong>. \u010c\u00edm v\u011bt\u0161\u00ed propad, t\u00edm lep\u0161\u00ed profit.<\/span><\/p>\n

\u00a0 \u00a0Cel\u00fd tento „What If“ p\u0159\u00edstup – ITM Call Bull Spread „bez exercise“ Long Call by tak mohl b\u00fdt smysluplnou samostatnou technikou, jak vyu\u017e\u00edt vypl\u00e1cen\u00ed Dividendy a turbulence s Assignment v noci na Ex-Dividend Day k dobr\u00e9mu profitu, vydal by na samostatn\u00fd \u010dl\u00e1nek, d\u00e1le jej v\u0161ak nebudu rozeb\u00edrat….:c)<\/span><\/p>\n

\u00a0\u00a0 Z\u00a0cel\u00e9ho \u010dl\u00e1nku je patrn\u00e9, \u017ee efektu vypl\u00e1cen\u00ed Dividendy se d\u00e1 vyu\u017e\u00edt i tak, \u017ee m\u011b Dividenda nemus\u00ed tak\u0159ka v\u016fbec zaj\u00edmat, mus\u00edm pouze zn\u00e1t a b\u00fdt schopen vyu\u017e\u00edt efekt\u016f spojen\u00fdch s\u00a0jej\u00ed v\u00fdplatou<\/strong>. Cel\u00fd \u010dl\u00e1nek by pak mohl b\u00fdt i instrukt\u00e1\u017e\u00ed, jak p\u0159ekonat zbyte\u010dn\u00e9 obavy s Exercise a Assignment, tyto pojmy pak m\u016f\u017eou reprezentovat ud\u00e1losti, kter\u00e9 mohou dob\u0159e slou\u017eit v\u00a0m\u016fj prosp\u011bch :c)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\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 Continue Reading<\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":426,"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":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[28],"tags":[13,29],"class_list":["post-411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dividendy","tag-call-bull-spread","tag-dividendy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/obr-2.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8zd8A-6D","jetpack-related-posts":[{"id":2329,"url":"https:\/\/dobretrejdy.com\/?p=2329","url_meta":{"origin":411,"position":0},"title":"Syntetick\u00e9 pozice – II.","author":"dobretrejdy :c)","date":"19.8.2018","format":false,"excerpt":"\u00a0\u00a0 V\u00a0minul\u00e9m \u010dl\u00e1nku \u00a0jsem se pokou\u0161el zobrazit vztah mezi cenami opc\u00ed na stejn\u00e9m strike a z\u00a0t\u011bchto vztah\u016f pak vydolovat jejich praktick\u00e9 vyu\u017eit\u00ed s\u00a0n\u00e1znaky obchodovatelnosti mo\u017en\u00fdch diferenc\u00ed a nesoulad\u016f v\u00a0definovan\u00fdch vztaz\u00edch. V\u0161e jsem pot\u00e9 demonstroval na op\u010dn\u00edm \u0159et\u011bzci akcie AAPL, kdy\u017e z poznan\u00e9ho vztahu mezi cenami opc\u00ed na stejn\u00e9m strike a\u2026","rel":"","context":"V \u201eOp\u010dn\u00ed kombinace\u201c","block_context":{"text":"Op\u010dn\u00ed kombinace","link":"https:\/\/dobretrejdy.com\/?cat=4"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/08\/main-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/08\/main-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/08\/main-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2018\/08\/main-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":378,"url":"https:\/\/dobretrejdy.com\/?p=378","url_meta":{"origin":411,"position":1},"title":"Dividendy – II.","author":"dobretrejdy :c)","date":"17.5.2017","format":false,"excerpt":"\u00a0 \u00a0Oops!... I Did It Again, zazp\u00edvala by si na\u0161tvan\u011b Britney Spears svou hitovku, kdyby vid\u011bla na sv\u00e9m obchodn\u00edm \u00fa\u010dtu, jak byla op\u011bt p\u0159i\u0159azena na ITM Short Call opci a od brokera se ji do\u010dkalo op\u011btovn\u00e9ho such\u00e9ho vysv\u011btlen\u00ed, \u017ee to bylo proto, \u017ee \u201e\u2026se p\u0159ece v\u010dera vypl\u00e1cely dividendy\u2026\u201c.\u00a0 V\u00e1gn\u00ed odpov\u011b\u010f,\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\/Div2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/Div2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/Div2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/Div2.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":475,"url":"https:\/\/dobretrejdy.com\/?p=475","url_meta":{"origin":411,"position":2},"title":"Dividendy – VI.","author":"dobretrejdy :c)","date":"2.6.2017","format":false,"excerpt":"\u00a0 \u00a0V\u00a0minul\u00e9m \u010dl\u00e1nku Dividendy \u2013 V.\u00a0jsem popisoval, jak se cena Dividendy v\u00a0obdob\u00ed t\u011bsn\u011b p\u0159ed Ex-Dividend Day ve sv\u00e9 pln\u00e9 v\u00fd\u0161i prom\u00edt\u00e1 do ceny ITM Long Put opc\u00ed a nikoliv do ceny Call opc\u00ed. Na p\u0159\u00edkladu akcie GS (Goldman Sachs Inc.) jsem v\u00a0jednoduch\u00e9 tabulce ukazoval, jak\u00e9 jsou konkr\u00e9tn\u00ed ceny pr\u00e9mi\u00ed takov\u00fdch\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\/06\/div6.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/06\/div6.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/06\/div6.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":454,"url":"https:\/\/dobretrejdy.com\/?p=454","url_meta":{"origin":411,"position":3},"title":"Dividendy \u2013 V.","author":"dobretrejdy :c)","date":"28.5.2017","format":false,"excerpt":"\u00a0 \u00a0V\u00a0p\u0159edchoz\u00edch \u010dl\u00e1nc\u00edch o v\u00fdplat\u011b Dividendy a mo\u017en\u00fdch op\u010dn\u00edch obchodech jsem se pohyboval pouze na Call stran\u011b op\u010dn\u00edho \u0159et\u011bzce. Covered Call nebo Call Bull Spread po\u0159izovan\u00fd p\u0159ed Ex-Dividend Day byl kombinacemi, jak se sna\u017eit pomoc\u00ed kr\u00e1tkodob\u00e9ho op\u010dn\u00edho obchodu vyzr\u00e1t nad dlouhodob\u00fdm dr\u017een\u00edm akci\u00ed a m\u00edt z\u00a0takov\u00e9 vypl\u00e1cen\u00e9 Dividendy n\u011bjak\u00fd profit.\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\/div-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":447,"url":"https:\/\/dobretrejdy.com\/?p=447","url_meta":{"origin":411,"position":4},"title":"Dividendy – IV.","author":"dobretrejdy :c)","date":"26.5.2017","format":false,"excerpt":"\u00a0 \u00a0V\u00a0jednom z p\u0159edchoz\u00edch \u010dl\u00e1nk\u016f Dividendy \u2013 II.\u00a0jsem na n\u011bkolika m\u00edstech upozor\u0148oval na zv\u00fd\u0161enou aktivitu v\u00a0den p\u0159ed Ex-Dividend Day doprov\u00e1zenou masivn\u00edm navy\u0161ov\u00e1n\u00edm po\u010dtu zobchodovan\u00fdch op\u010dn\u00edch kontrakt\u016f. Popisoval jsem konstrukci ITM Covered Call na akcii AAPL a sou\u010dasn\u011b p\u0159edpokl\u00e1dal, \u017ee cel\u00fd obchod bude p\u0159ed\u010dasn\u011b ukon\u010den, proto\u017ee v\u00a0noci na Ex-Dividend Day prob\u00edh\u00e1\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\/div.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/div.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":362,"url":"https:\/\/dobretrejdy.com\/?p=362","url_meta":{"origin":411,"position":5},"title":"Dividendy – I.","author":"dobretrejdy :c)","date":"13.5.2017","format":false,"excerpt":"\u00a0 \u00a0B\u00fdt akcion\u00e1\u0159 a m\u00edt dividendu je skv\u011bl\u00e1 v\u011bc. Vlastnit akcie a jednou za n\u011bjak\u00fd \u010das sklidit plody tohoto dr\u017een\u00ed je tak fascinuj\u00edc\u00ed z\u00e1le\u017eitost, \u017ee nesnese odkladu se takovou v\u011bc\u00ed zab\u00fdvat. Zd\u00e1lo by se, \u017ee bez dr\u017een\u00ed akci\u00ed by \u017e\u00e1dn\u00e9 dividendy nebyly a naopak, dividendu nemohu z\u00edskat, pokud nem\u00e1m akcie.\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\/dividend-profil-obr1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/dividend-profil-obr1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/dividend-profil-obr1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2017\/05\/dividend-profil-obr1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/411","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=411"}],"version-history":[{"count":16,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/411\/revisions"}],"predecessor-version":[{"id":1401,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/posts\/411\/revisions\/1401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/media\/426"}],"wp:attachment":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}