서울로그

Topic 2: Option generating profit Option Payoffs/Profitability Payoff = 옵션 팔아서 받는 돈 Profitability = Payoff - option premium(살때 지불한 값) *breakeven= payoff (spot price-strike price) = option premium Action Payoff Profitability not exercise 0 - option premium Exercise strike price strike price - option premium 1) Long Call : call option holder. when the price goes up, profit + 2) Short Call : call o..

Brexit-Bound London Beats Global Rivals to Lure Real Estate Cash Bloomberg markets By Jack Sidders ‎August‎ ‎23‎, ‎2018‎ Thanks to Brexit, the value of sterling has dropped down significantly. In the other side, Asian investment institutions are looking for some places to invest. With this combination, the office buildings in London become a target for Asian buyers. UBS Group AG¡¯s 5 Broadgate o..

Topic 1: Option Basics Option Terminology Option is the RIGHT, not the obligation for future transation. Option Moneyness @ the expiration date(European option) / the exercise date (American Option) Spot price > strike price in-the-money(돈이 된다) Exercise Spot price = Strike price at-the-money(똔똔) Indifferent Spot price < Strike price out-of-the-money(돈이 안된다) Do not exercise * Strike price is irre..

Emerging Markets May Lose Their Friendly Banker By Shuli Ren August 21, 2018 Bloomberg Opinion China aimed to spread out yuan as they lent huge loans and make exchange swap contract with emerging markets. That´s how Venezuela and Turkey had huge amount of loan from China in the last decade. Now, as Chinese economy has been changed, China Development Bank, the nation´s policy lender, rather choos..

차등의결권주식 Dual-class stocks 주식의 일종. 주식 1주당 1개의 의결권을 갖는 일반적인 주식과 달리 1주에 여러개의 의결권을 갖는다. 주로 IT기업에서 창업자의 경영권을 보호하기 위해 발행되며, 대표적인 기업으로는 구글, 페이스북이 있다. 미국의 경우 Class A는 1주1의결권, Class B는 1주多의결권을 의미한다. 구글은 Class A는 1주1의결권, Class B 1주10의결권의 차등의결권주식을, 페이스북은 Class A 1주1의결권, Class B 1주5의결권의 차등의결권주식을 가지고 있다. 우리나라에서는 현행 상법에 따라 차등의결권을 금지하고 있다. 따라서 거래소의 규정으로 차등의결권을 허용할 수 없다. 미국이나 유럽 시장에서는 차등의결권을 허용하고 있으며, 최근 홍콩주식시장..

Asia Embraces Dual-Class Shares, and Investor Activists Smolder By Benjamin Robertson and Andrea Tan August 8, 2018 Bloomberg https://www.bloomberg.com/news/articles/2018-08-07/asia-embraces-dual-class-shares-and-investor-activists-smoulder Hong Kong and Singapore stock exchange finally allows firms to list shares with or without voting rights. This is called Dual-Class shares, where Class A sha..

A U.S.-China Divorce Would Be Ugly2018-08-13 https://www.bloomberg.com/view/articles/2018-08-10/a-u-s-china-divorce-would-be-ugly Trade barriers between US and China will reduce their national wealth. In united economy, China could earn more from exporting products to USA market, which is 7-trillion-dollar bigger than China domestic. China also can have manufacturing plants in USA territory so t..

China-U.S. Trade Spat Is Just a Start to the Economic Cold War August 13, 2018, 8:00 AM GMT+8 https://www.bloomberg.com/view/articles/2018-08-13/china-u-s-trade-spat-is-just-a-start-to-the-economic-cold-war Current trade tariffs conflict may be a start of long term economic cold war. Since China had joined in WTO in 2001, they have made so much economic profit in international relationships with..

Amazon Has a New Rival in India, and It Isn’t Walmart By Andy Mukherjee August 16, 2018, 8:28 AM GMT+8 Bloomberg Opinion https://www.bloomberg.com/view/articles/2018-08-16/amazon-has-a-new-rival-in-india-and-it-isn-t-walmart American retail companies such as Amazon.com Inc. wants to market in India, where are about a billion consumers. Walmart Inc. has acquainted an Indian online retailer this y..

노트정리를 하다가.쓸만한 내용만 남겨놓고 노트는 버리려고 필기를 옮겨놨다. 선물 증거금 (futures margin) 1. 위탁증거금. 고객 > 중개회사(보통 증권사) 1) 개시증거금 initial margin : 최초 선물포지션 취득시 필요한 증거금. 미국의 경우 5%, 한국의 경우 통상 15% ex. 선물지수가 200이라면 선물 1계약의 명목금액은 1억원. 개시증거금이 15%라고 하자. 최초 1계약 취득시 개시증거금은 0.15억원. 2) 유지증거금 variation margin. maintenance margin. 최초 취득 이후 일일정산 ing... * 손실(매수했는데 가격이 떨어진다)나면, 매일 평가손만큼 증거금에서 현금이 빠져나간다 > 매도자에게 이익으로 입금된다. 손실이 계속되어 증거금이 일정..