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美股史上首次:期权交易量超过股票交易量

Benzinga

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Benzinga
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Benzinga Staff Writer

华尔街今年出现了许多史上首次现象,期权市场是最新一个变得前所未有的热门的市场。

高盛发布报告称,股票期权的交易量史上首次超过股票的每日交易量。

期权交易飙涨:

下面的图表显示出,期权交易量相比股票交易量的比值在2020年猛增了多少,部分市场专家担忧大量年轻、经验不丰富并且愿意冒险的交易者可能会影响市场。

许多美国人由于居家令不得不在家里待了超长的时间,加上大型体育活动以及其他活动被取消,以及赌场关闭,股票交易者的数量在2020年冲上天际。

交易应用程序Robinhood表示在第一季度新增了300万个新帐户。据报道,Robinhood用户的平均年龄为31岁,该公司表示其半数的用户此前从未投资过。

Robinhood上部分最热门的股票包括:美国航空(代码:AAL)、特斯拉(代码:TSLA)与嘉年华集团(代码:CCL)等,均为极具波动性与高风险的股票,每个股票在华尔街分析师给出的评级中,买入评级不足30%。

部分年轻的交易者看起来进入更高的风险层级——杠杆期权交易这个复杂的市场。

20岁Alex Kearns的自杀成为头条新闻,他以为自己的期权交易在Robinhood账户中亏损了75万美元。

Kearns在遗书中对家人表示“我不知道自己之前做了什么。”

期权市场赌徒:

据期权清算公司的数据,截至6月下旬,2020年日均期权合约交易量达到创纪录的2800万,同比去年增长了45%。

在50个交易量最高的公司股票中,高盛的研究发现代表着极小定单的仅为1个合约的交易期权合约交易中所占的百分比从去年底10%升至今年的14%.

对于市场中的赌博者而言,期权合约的吸引力显而易见。期权的购买者买入100股股票期权押注的成本仅为股票价格的很小部分。

由于这种杠杆作用,基础股票相对较小的波动可能导致期权合约巨大

的波动。

将这种巨大的期权杠杆与下面的事实结合在一起,持续的研究显示,超过90%的新日内交易者出现亏损,这就可以理解为何华尔街资深交易者对今年期权交易量的飙涨感到担忧。

Benzinga结论:

新晋投资者应该了解在长期的投资中赚钱、日内交易股票与期权合约与赌博的区别。

研究屡次证明了,以10年货更长时间衡量的长期、多元化的投资几乎均为盈利的行为,而对于90%的新交易者而言,日内交易是一种带来损失的策略。

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