Market Brief

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Author

區良鍵先生(George Au)
基金經理

工商管理(財務系)畢業, 有十多年投資經驗, 經歷過股災及大大小小的升/跌市. 善於配合基礎因素及技術分析, 整合不同投資工具, 在不同市況下作出相應投資決定. 熟悉本地投資市場, 尤精於股票期權、指數期權及期貨投資.
Phone:
3925 9237

撈貨過後, 如何部署?

Wednesday, November 07, 2018 Views1842

10月中的 Phillip Channel 提過兩種不同的策略:

 

(策略一)

24,000- 25,000 附近, 可以開始考慮分段吸納一些優質藍籌股.

 

(策略二)

以賺取期權金為目標:

Short 11月恆指行使價 27,000 Call, 目標收取 200點以上

Short 11月恆指行使價 23,000 Put, 目標收取 150點以上

共收取 350點以上期權金

 

過去一週, 恆指從低位 24,540點回升, 最多曾有近 2,000點升幅.

 

 

[策略一]撈貨

投資者至今應有不錯的利潤. 2/Nov 港股急升近千點, 主因包括:

1. 英國疑似能和歐盟達成協議

2. 中美兩國元首進行電話交流

3. 午間傳出特朗普要求內閣開始起草可能的中美貿易協議條款

 

第2, 第3點涉及中美貿易糾紛, 對港股影響深遠. 而投資者應對特朗普 ''出爾反爾'' 的態度記憶猶新, 加上美國中期選舉到來
, 這傳聞中的貿易協議, 最終發展難以預測

 

如中美貿易戰最終完滿落幕, 恆指再升 1,000多點不是難事, 已撈貨投資者可能不必急於獲利, 但如這協議存在變動呢?

為已低位撈貨的股票, 做一些 Long Put 作保障, 確保目前帳面利潤最終不會 ''見財化水'', 可能是較理想的選擇

 

 

 

[策略二]希望賺取期權金

以上提及 3大利好消息, 前兩項在2/11開市前已提出, 11月恆指行使價 27,000 Call 及 23,000 Put 開市價分別是 201點及 55點, 在開市時平倉的話, 因開倉時收取期權金 >350點, 2/11 開市平倉, 仍有近100點/套的利潤

基於近期的各種變數, 保持 Short Option 倉位或不太理想, 可先行平倉止賺.

 

如認為中美貿易關係會繼續有利好消息傳出, 又或覺得這事會有所反覆,

Long Call + Long Put

捕捉後市的潛在波幅, 也是一個選擇, 在大量不明朗因素下, 最大潛在損失有限.

 

 

如對以上提及, 運用期權鎖定部份股票利潤的做法, 或其它不同買賣策略有興趣的投資者, 也可報讀 9/11 (週五) 舉辦的 ''期權達人 1.1'' 講座, 進一步了解

 

 

[可供選擇課程每月更新]

https://www.poems.com.hk/zh-hk/education-center/courses/?cid=N201811022

https://www.poems.com.hk/zh-hk/education-center/courses/?sp=leungkinau

 

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