三心哥,请教如果股价跌的太快太急,ratio put spread跌到短腿strike以下不少,

a
aloevera
楼主 (文学城)

而且还有继续跌的趋势,可能会跌破breakeven点,这种情况怎么办?是买当前价strike的put来cap损失,还是关掉整个ratio put spread或者往下继续roll来止损?还有情况就是如果当前ratio put spread盈利50%, 你会往下继续roll用来赚下一个ratio put spread吗?我是第一次做ratio put spread, 想搞清楚各种情况应对策略,未雨绸缪。多谢指教哈!

三心三意
again, ratio put spread is "TO buy shares at lower price"
三心三意
If you are not comfortable of owing shares, do not use it
a
aloevera
确实是这个心思。但是如果股票再跌就是 bag holder. 如果预测会跌得更深,

是不是不要买股票而是及时止损?

a
aloevera
是啊,到时候可能会慌。所以要有定力,相信好公司以后股价会上去。其实初衷就是低价买股票。但是人的弱点就是会受情绪影响。
三心三意
不是到时有定力,而是在下单时就已经决定如果股票掉下去,你会愿在更低的价位买入

Of course there are other ways to cut loss and not owning stock. But too many "if-else" will cloud your judgement. If not comfortable of owning a stock at a lower price, this strategy should not be used

三心三意
买股票不能只考虑涨了如何赚钱,任何一笔交易都要提前考虑如果不涨或者掉了怎么处理
a
aloevera
嗯。我可能是下单时决定好了,到时候又改主意了,因为怕继续爆跌。这个适合用在有high conviction的公司吧
三心三意
You can still cut loss, just saying it's complicated

If you worry about this, just buy normal stocks and set stop loss. Try not to use complicated option strategy

任静锅-
第一风控,第二还是风控,然后才是赚钱
a
aloevera
Hard to predict when to buy stock outright, either. Ratio

put strike gives quite some cushion for a much lower cost. I think predicting the stock does not go much lower is the key. 

a
aloevera
怪就怪在还有一个nake put嘛风控有限,碰到大幅爆跌就不行了,只能当bagholder
o
opst
this is why i prefer wider spread :)

越宽的spread,不仅max gain potential更高, 而且break even point也可以更远,在急跌的时候可以很安心。不过缺点就是open时收的premium会少很多。 It is a tradeoff you have to make when you decide to open a position. 

If you are worried now, you can roll one of the short leg to next month (or weeks), and lower down strike a little bit. This will give you more breathing room, and a better BE point. 

上面三心和任静锅说的挺好,刚开仓时就要对worst case有足够的心理准备,并做好风控。 在开仓时,一定要在脑子里过一遍P&L图,估算一下亏损区间和概率,问自己max loss是不是能接受的。 

a
aloevera
多谢指导! 收藏了:)