北美实时股市股票

http://m.barrons.com/articles/BL-SWB-39940

Tesla: A Good Buy?


By Ben Levisohn

Was Tesla Motors (TSLA) a good buy at $242, where it sold 2.7 million shares in a secondary offering? Global Equities Research’s Trip Chowdhry, who rarely has anything bad to say about Tesla, thinks it is:


Dan Neil/The Wall Street Journal
Tesla Stock sale at $242 – is it a good Buy/Entry Point?

We think so – Tesla is a good buy at $242….however, the stock with continue to be volatile, with an upward bias.

We continue to maintain our 12 -18 months price target of $385 on TSLA is based on a revenue multiple of 5.4X FY2016 estimates of $9.11 Billion…

Tesla, Google (GOOG) and Apple (AAPL) all have stealth projects dedicated to Auto’s innovation had accelerated in Autonomous driving, Human-Car Interface, Power Trains, Power Systems, Material Science and associated Business models and ecosystems etc

This new industry will not be a zero-sum game anytime for the next 10 to 15 years …and our research indicates that all these three -Tesla, Google and Apple will be successful in creating and owning a part of this probably $1Trillion transportation market.

Shares of Tesla have gained 0.5% to $243.68 at 1:44 p.m. today, while Google is little changed at $656.71, and Apple has gained 0.1% to $115.27.
 

vickyzyd

怎样把5万变成50万,再把50万变成100万
http://m.barrons.com/articles/BL-SWB-39940

Tesla: A Good Buy?


By Ben Levisohn

Was Tesla Motors (TSLA) a good buy at $242, where it sold 2.7 million shares in a secondary offering? Global Equities Research’s Trip Chowdhry, who rarely has anything bad to say about Tesla, thinks it is:


Dan Neil/The Wall Street Journal
Tesla Stock sale at $242 – is it a good Buy/Entry Point?

We think so – Tesla is a good buy at $242….however, the stock with continue to be volatile, with an upward bias.

We continue to maintain our 12 -18 months price target of $385 on TSLA is based on a revenue multiple of 5.4X FY2016 estimates of $9.11 Billion…

Tesla, Google (GOOG) and Apple (AAPL) all have stealth projects dedicated to Auto’s innovation had accelerated in Autonomous driving, Human-Car Interface, Power Trains, Power Systems, Material Science and associated Business models and ecosystems etc

This new industry will not be a zero-sum game anytime for the next 10 to 15 years …and our research indicates that all these three -Tesla, Google and Apple will be successful in creating and owning a part of this probably $1Trillion transportation market.

Shares of Tesla have gained 0.5% to $243.68 at 1:44 p.m. today, while Google is little changed at $656.71, and Apple has gained 0.1% to $115.27.

你就别pump tesla啦,跌不下去是涨不上来的, stay in cash
 
再出发,开个股票杂货店。

第一步,准备开店。
找个股票研究,在TA跌倒底的时候抄底 sell put。
A、short put到期赚钱了,拿钱走人,开店失败;
B、short put到期赔钱了,被迫买入股票,被迫创业开店;

第二步,装修。
风格A,疯牛绿。对市场前景持bullish判断,无需装修直接跳到下一步;
风格B,震荡灰。对市场前景持neutral判断,long ATM put 1 份,因为股票Delta是1,ATM put delta是-0.5,这样一个组合delta大约是+0.5,实际上是neutral 偏bullish一点,抗涨不抗跌,如果考虑股票派息,则抗跌能力得到增强;
风格C,疯熊红。对市场前景持bearish判断,long ATM put 2 份,Delta 基本为零,neutral,抗跌抗涨能力均衡。如果觉得还不够熊,可以酌情加码long put,或者把ATM换成IM put;

第三步,开业。
周一,short 三分之一份本周五到期的ATM call/put。原则一,股票涨则short call,股票跌则short put。原则二,short call要保证出货价高于上周末平均成本,short put要保证低于short call的价格或者上周末成本价。如果原则不能满足则歇业一天;
周二到周四,原则跟周一相同,区别在于首先处理前一周操作的,本周到期的short call/put(股票涨则清掉手中的short put,股票跌则清掉手中的short call),如果本周相应的short call/put已经清空,则short下周到期的ATM期权,其他原则跟周一相同;
周五,调库存,根据对下周的判断,决定是反向操作清掉option保留股票,还是让option到期买入/卖出股票。记录一周收益/亏损,叠加在上周末的股票成本上,核算本周末的股票平均成本为下周所用;
下一周,重新来过。

第四步,关张。
加大short call对short put的比例,或者short call用IM,short put用ATM或者OTM,然后让期权过期,股票库存自动清空,择机清掉long put,完美退出。

当然这个店也可以开在街对面,就是在股票高点开short stock的店,都反向一下就好了,不过这种店风险更大一些,慎重。



举例:手中100手VALE,成本5.5

8月10日,周一,股价大涨5.27-5.69,short 30手Aug 14 call @5,大约0.85,等效出货价5.85;
8月11日,周二,股价跌5.42-5.32,short 30手Aug 21 put@5.5,大约0.4,等效进货价5.1,低于平均成本并且低于前一日short call出货价;
8月12日,周三,股价大涨5.23-5.46,short 30手 Aug 21 call@5,大约0.6,等效出货价5.6;
8月13日,周四,股价跌5.47-5.27,short 30手Aug 21 put@5.5,大约0.45,等效进货价5.05,低于平均成本并且低于前一日short call出货价;
至此,前四日交易的option实际上构成了2个short guts,如果都自然到期的话,下周的收益是(5.85-5.1)*3000+(5.6-5.05)*3000=$3900,本金大约5.5*16000*0.3=29333,收益率大约13.3%,当然实际操作中不可能总拿到最好的价格,所以实际收益会比计算的差;

8月14日,周五,股价没变化5.25-5.23,根据判断可以让当天到期的short call到期减少股票库存,也可以把当天的short call买回来实现收益并保留股票。
周末成本大约(10000*5.5-3900)/10000=5.11(其实应该算本周到期的,但就是这个意思)

假设周五价格在5.5之上,则实现的收益是一样的,但伴随股票减仓;
假设周五价格在5之下,则没有能够实现收益,但股票会加仓,而上面算的收益将折算成成本discount,管理得当的话,可以在未来转化成收益。另外,如果之前装修的时候用long put做过保护的话,这时可以考虑清掉实现收益了。
 
最后编辑: 2015-08-14
再出发,开个股票杂货店。

第一步,准备开店。
找个股票研究,在TA跌倒底的时候抄底 sell put。
A、short put到期赚钱了,拿钱走人,开店失败;
B、short put到期赔钱了,被迫买入股票,被迫创业开店;

第二步,装修。
风格A,疯牛绿。对市场前景持bullish判断,无需装修直接跳到下一步;
风格B,震荡灰。对市场前景持neutral判断,long ATM put 1 份,因为股票Delta是1,ATM put delta是-0.5,这样一个组合delta大约是+0.5,实际上是neutral 偏bullish一点,抗涨不抗跌,如果考虑股票派息,则抗跌能力得到增强;
风格C,疯熊红。对市场前景持bearish判断,long ATM put 2 份,Delta 基本为零,neutral,抗跌抗涨能力均衡。如果觉得还不够熊,可以酌情加码long put,或者把ATM换成IM put;

第三步,开业。
周一,short 三分之一份本周五到期的ATM call/put。原则一,股票涨则short call,股票跌则short put。原则二,short call要保证出货价高于上周末平均成本,short put要保证低于short call的价格或者上周末成本价。如果原则不能满足则歇业一天;
周二到周四,原则跟周一相同,区别在于首先处理前一周操作的,本周到期的short call/put(股票涨则清掉手中的short put,股票跌则清掉手中的short call),如果本周相应的short call/put已经清空,则short下周到期的ATM期权,其他原则跟周一相同;
周五,调库存,根据对下周的判断,决定是反向操作清掉option保留股票,还是让option到期买入/卖出股票。记录一周收益/亏损,叠加在上周末的股票成本上,核算本周末的股票平均成本为下周所用;
下一周,重新来过。

第四步,关张。
加大short call对short put的比例,或者short call用IM,short put用ATM或者OTM,然后让期权过期,股票库存自动清空,择机清掉long put,完美退出。

当然这个店也可以开在街对面,就是在股票高点开short stock的店,都反向一下就好了,不过这种店风险更大一些,慎重。
太复杂了,梦姐直接晕倒。
有注解,比如为什么这么做,梦姐可能还有兴趣学。
 

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