El Filosofo Liberal

Components Short one front month call option and long one far month call option. (i.e. the option you sell is to be closer to expiration than the option you are buying). Risk / Reward Maximum Loss: Limited on both down and upside for market direction. Maximum Gain: Limited. Characteristics When to use: When you are bearish on volatility and neutral to bearish on market price. Note that with this payoff graph I have shown the net theoretical result only at the first expiration date when with the underlying trading at 100, which is the best result: the near month call will expire worthless and you will still have a long call ATM position. Traders use time spreads to take advantage of time decay - the property of options being a decaying asset. However, due to the risk involved in selling naked options, a time spread protects the position buy buying an option in the next month. The long back month option position offsets large losses that can result from being short options when the unde...

Fuente: http://www.nypost.com/seven/09182008/postopinion/opedcolumnists/why_bailouts_scare_stox_129619.htm?page=0 WHY BAILOUTS SCARE STOX LOCKING IN EQUITY LOSSES Paulson: Too confident he knows better than the market. Last updated: 6:46 amSeptember 18, 2008 Posted: 4:06 amSeptember 18, 2008 THE federal bailout of insurance giant AIG is the latest in a series of panicky interventions that add a capricious element of political uncertainty to the market for financial stocks. In essence, these bailouts give bondholders more protection than they'd otherwise see - at stockholders' expense. It's probably true that "something had to be done" in the case of AIG, the nation's largest insurance company with operations in 130-plus countries. But doing something could have meant doing something else - such as offering a secured bridge loan while AIG engaged in some orderly asset sales. As it is, the US government is charging AIG an interest rate above 11 percent for a wel...

El segundo hombre más rico del mundo, Warren Buffet, enumeró los 20 principios básicos que posibilitaron gran parte de su éxito. Pero, aunque estas indicaciones para invertir y ganar en la bolsa parecen sencillas a simple vista, los especialistas aseguran que son pocos quienes pueden seguirlos y aplicarlos con éxito. Buffet es un inversor que hizo su fortuna solamente comprando y vendiendo acciones y que hoy es la persona más influyente del mercado financiero estadounidense.Este genio de las finanzas compró su primera acción a los once años, aunque dice que se arrepiente de haberlo hecho "tan tarde". A los 14 adquirió una pequeña granja con los ahorros que consiguió repartiendo periódicos y aún vive en la misma casa de tres dormitorios en Omaha, que compró hace 50 años cuando se casó.Esas fueron parte de sus claves para convertirse en millonario, tal como lo reveló en una reciente entrevista a la CNBC. Según los operadores, Buffet, hoy conocido como “el oráculo de Omaha”, emp...