期權
options
期權又稱為選擇權，是指一種合約，持有人有權在某一時間之內，在某一個指定的價位，買進或賣出一張期貨合約。有權買進的稱為“買進期權”（CALL OPTION），有權賣出的稱為“賣出期權”（PUT OPTION）。 當某種商品價格上升時，持有買進期權的人可以衡量該商品市價与合約上的指定價格的高低。若市價高于該指定價格，則該合約持有人可行使其權利，以指定價格買進商品而圖利；反之，若商品價格下跌時，持有人因此不行使權利，他最多只是損失了購入該期權的代價。 反之當某種商品價格下跌時，持有賣出期權的人可以指定價格賣出高
Options also known as the right to choose, refers to a contract, the holder is entitled to it within a certain time, at a certain specified price, to buy or sell a futures contract. The right to buy is called a "buy option" (CALL OPTION), the right to sell is called a "put option" (PUT OPTION). When the price of a commodity rises, holders of options to buy one can measure the commodity price and the contract price specified level. If the price is higher than the specified price, the contract holder may exercise its right to buy the commodity at a specified price and profit; the other hand, if commodity prices fall, so do not exercise the rights holder, he just lost the most the price of the option purchased. Conversely when a commodity price declines, the put option held by the specified person can sell a high price