當股票橫盤沒有行情吃不到肉怎么辦?
你需要期權這個強力的工具，并幫助你持續(xù)在沒有行情的情況下持續(xù)獲利。
收錄了以下策略，并會在接下來整合成技術轉帖，和老鐵們分享。
A major reason why trading options is so popular is because of the number of opportunities there are for making profits. For example, unlike other forms of investment, options give traders the chance to profit when an underlying security remains neutral i.e. it doesn’t move in price.
AQF交易期權如此受歡迎的一個主要原因是因為獲利的機會很多。 例如，與其他形式的投資不同，期權使交易者有機會在基礎證券保持中立時獲利，即它不會在價格上移動。>>>點擊咨詢AQF證書含金量
This function is unique to options, because there are no other financial instruments that can be traded to generate profits from a lack of price movement. There are a large number of neutral options trading strategies (also known as non-directional strategies) that can be used when you have a neutral outlook on an underlying security, and if you can gain a good understanding of these then you will open up many opportunities for making profits.
此功能對于期權而言是獨一無二的，因為沒有其他金融工具可以交易以從缺乏價格變動中獲利。 有大量的中性期權交易策略(也稱為非定向策略)，當交易者對底層證券有中性展望時可以使用，如果交易者能夠很好地理解這些，那么交易者將會創(chuàng)造很多的賺錢的機會。
On this page we explain the concept of a neutral trend and discuss the advantages and disadvantages of using neutral trading strategies. In addition, we provide a list of strategies that you can use to profit from a neutral outlook.
在這篇文章里，我們解釋了中性趨勢的概念，并討論了使用中性交易策略的優(yōu)缺點。 此外，我們提供了一系列可用于從中性展望中獲利的策略。
What is a Neutral Trend?
Advantages of Neutral Strategies
Disadvantages of Neutral Strategies
List of Neutral Strategies
什么是中性趨勢?
中立策略的優(yōu)勢
中立策略的缺點
中立戰(zhàn)略清單
What is a Neutral Trend?
什么是中性趨勢?(就是股票橫盤)
In investment terms, the word neutral is generally used to describe a financial instrument that doesn’t move in price. While this is technically accurate, in the context of options trading the word has a slightly broader meaning. When we talk about neutral trading strategies, we are talking about strategies that not only profit from an underlying security staying at the same price but also profit when that security moves within a tight range of prices.
在投資方面，“中性”一詞通常用于描述價格不變的金融工具。 雖然這在技術上是準確的，但在期權交易的背景下，這個詞具有稍微寬泛的含義。 當我們談論中性交易策略時，我們談論的策略不僅是從基礎證券中獲得相同價格的利潤，還可以在證券在較窄的價格范圍內移動時獲利。
When the price of a security goes up and down by small amounts over a period of time, it's said to be moving sideways. This is because if you plotted the price movements on a graph, the graph line wouldn’t show any real incline or decline, but it would basically be moving sideways. When a price is moving sideways the underlying security is in what's known as a neutral trend.
當證券的價格在一段時間內上下波動時，據(jù)說它正在橫向移動。 這是因為如果在圖表上繪制價格變動，圖表線不會顯示任何實際的傾斜或下降，但它基本上會橫向移動。 當價格橫向移動時，潛在的證券處于所謂的中性趨勢中。
During such a trend the price of the underlying security is consistently going up and down, but not usually by a huge amount and it's always remaining with a certain range. A neutral trend will typically occur after a sustained increase in price or a sustained decrease in price when the price starts hitting levels of resistance or support accordingly.
在這種趨勢中，基礎證券的價格一直在上漲和下跌，但通常不會大幅增加，并且總是保持在一定范圍內。 當價格開始達到阻力位或相應支撐位時價格持續(xù)上漲或價格持續(xù)下跌后，通常會出現(xiàn)中性趨勢。
These trends can continue for weeks or even months at a time. Stock traders and other investors will really struggle to profit under these circumstances and they will typically leave securities that are in a neutral trend alone. However, options traders can take advantage of them by using appropriate strategies.
這些趨勢可以持續(xù)數(shù)周甚至數(shù)月。 股票交易商和其他投資者在這種情況下真的很難獲利，他們通常會留下僅僅處于中性趨勢的證券。 但是，期權交易者可以通過使用適當?shù)牟呗詠砝盟鼈儭?/p>
Advantages of Neutral Strategies
中性策略的優(yōu)勢
The biggest advantage of neutral options trading strategies is really the simple fact that they exist. Being able to profit from stocks and other financial instruments that remain relatively stable in price gives investors who use options many more opportunities than those who don’t.
中性期權交易策略的最大優(yōu)勢實際上就是它們存在的簡單事實。 能夠從價格保持相對穩(wěn)定的股票和其他金融工具中獲利，使得投資者使用期權的機會比不投資的投資者多得多。>>>點擊咨詢金融行業(yè)必考的證書
Many financial instruments go through prolonged periods of being neutral, or in a neutral trend, and this gives options traders plenty of chances to generate returns. It's somewhat obvious that the more potentially profitable opportunities there are, the greater the chance there is of being successful on a consistent basis.
許多金融工具經歷了長期的中性或中性趨勢，這使期權交易者有很多機會獲得回報。 顯而易見的是，潛在的盈利機會越多，在一致的基礎上獲得成功的機會就越大。
The other main advantage of these strategies is that by using them you can profit from three different outcomes. If the underlying security doesn’t move at all, you will make a profit. If the underlying security increases in price or decreases in price, you will still make a profit, providing the price movements stay within an appropriate range.
這些策略的另一個主要優(yōu)點是，通過使用它們，您可以從三種不同的結果中獲益。 如果基礎證券根本沒有移動，交易者將獲利。 如果基礎證券價格上漲或價格下跌，交易者仍然可以賺取利潤，只要價格變動保持在適當?shù)姆秶鷥取?/p>
Some strategies need the price of the underlying security to remain in a very tight range to return a profit, while others can profit from a wider range. To some extent, you can control just how wide you want the range to be and this is another example of just how flexible options trading can be.
一些策略需要基礎證券的價格保持在非常窄的范圍內才能獲得利潤，而其他策略則可以從更廣泛的范圍中獲利。 在某種程度上，交易者可以控制希望范圍的寬度，這是另一個靈活的期權交易的例子。
Other advantages include the fact that you can turn time decay into a positive and also control your risk exposure to some extent. When using some of the more basic strategies, it's very simple to work out the maximum potential profit and maximum potential loss, and this can be very useful for when planning trades and managing risk.
其他優(yōu)勢包括可以將時間衰減轉化為積極因素，并在一定程度上控制風險敞口。 當使用一些更基本的策略時，計算最大潛在利潤和最大潛在損失非常簡單，這對于規(guī)劃交易和管理風險非常有用。
Finally, the fact that there are so many different strategies you can use means you have plenty of choice and a good chance of finding one that fits well with your personal objectives.
最后，你可以使用許多不同的策略這一事實意味著你有很多選擇，很有可能找到一個適合你個人目標的策略。
Disadvantages of Neutral Strategies
中立策略的缺點
There isn’t many major disadvantages when it comes to using strategies of this type. The biggest drawback is the fact that the potential profits of these is always limited, because the maximum amount of profit that can be made from any trade is essentially fixed at the moment it's executed.
在使用這種策略時，沒有太多的主要缺點。 最大的缺點是這些的潛在利潤總是有限的，因為任何交易可以獲得的最大利潤額在執(zhí)行時基本上是固定的。
Another disadvantage is that the strategies all require at least two transactions, and some of them more, so you will potentially pay a fair amount in commissions. This is actually true of most options trading strategies. Also, some of them can be quite complicated and certainly not suitable for beginners.
另一個缺點是策略都需要至少兩筆交易，其中一些交易更多，因此您可能需要支付相當數(shù)量的傭金。 大多數(shù)期權交易策略實際上都是如此。 此外，其中一些可能非常復雜，當然不適合初學者。
These disadvantages are all relatively minor though, and it should be clear that they are far outweighed by the benefits.
然而，這些缺點都相對較小，應該清楚它們遠遠超過它們的好處。
List of Neutral Strategies
Below, we have listed a range of neutral options trading strategies that are commonly used by options traders. We’ve included a little information about each one, but for further details you should click on the relevant link. If you are struggling to choose a suitable strategy, you may like to take a look at our Selection Tool.
中性交易策略清單
下面，我們列出了期權交易者常用的一系列中性期權交易策略。 我們已經包含了關于每個信息的一些信息， 如果交易者正在努力選擇合適的策略，可以查看我們的選擇工具。
Covered Call
This is relatively simple and would typically be used if you already own a security and want to profit from it being in a neutral trend. It's suitable for beginners.
掩蓋性的買權策略
持有股票，并賣出對應的看漲期權(long equity+sell call)
單純的賣出一個看漲期權，由于股價上漲理論上沒有上限，因此賣出看漲的期權只有有限的收益但是卻有無限的虧損可能。
然而，如果擁有股票，而同時賣出看漲期權。那么當股價無限上漲的時候，雖然做空的看漲期權導致了損失，股票上的收益卻能彌補損失。
這是最基本的交易策略，也非常常見。如果你本身持有股票，并且想要從中性市場(就是橫盤)中賺取利潤，可以考慮使用該策略。對于期權新手來說較為合適。
Covered Call Collar (保護性領子/利率上下限買權策略)
This is fairly simple and you would generally use it if you already own a security and want to profit from it being in a neutral trend and protect it against any losses should it fall in price. It is suitable for beginners.
這相對來說較為容易，你將在握有正股并且想要從中性市場趨勢(橫盤)中賺取利潤并且捍衛(wèi)你的倉位以對抗當股價下跌所帶來的潛在的虧損。對期權初學者來說也是常見的策略。
Covered Put(保護性賣權策略)
This is reasonably complex and combines short selling a security and writing put options. It's not suitable for beginners.
對于初學者來說這個策略較為復雜，因為該策略包含了賣空該股票同時交易沽空期權。并不適合初學者操作。
Short Straddle 賣出跨式期權策略
This is a relatively simple trading strategy, but it's not really suitable for beginners due to the high trading level required. It involves two transactions and creates a credit spread.
相對來說較為簡單的策略，然而由于其對交易技巧的高要求，這并不適合初學者，這包含了兩組交易并且需要你創(chuàng)建一個貸方差價期權。
Short Strangle 空頭勒式期權交易
This is quite straightforward but requires a high trading level so it's not suitable for beginners. It creates a credit spread and involves two transactions.
該策略較為直接然而其要求較高的交易技能，因此不適合初學者開始使用。這套策略同時要求創(chuàng)建一個貸方差價期權，并且包含了兩組交易。
Short Gut
This combines two transactions to create a credit spread. It's quite simple, but it requires a high trading level meaning it isn't suitable for a beginner.
該策略包含了兩組交易并且創(chuàng)造了價差組合，較為容易，但仍然需要較高的交易技術，并不適合初學者。
Calendar Call Spread 日歷多頭套利策略
This is simple enough to be used by beginners. Two transactions are involved and a debit spread is created.
對于初學者來說足夠簡單，需要兩組交易，同時將創(chuàng)建一個借方價差策略。
Calendar Put Spread 日歷空頭套利策略
This is straightforward and involves two transactions. It creates a debit spread and is suitable for beginners.
此交易策略直接，同時包含了兩個交易。這將為初學者創(chuàng)造一個借方價差期權，較適合初學者。
Call Ratio Spread 多頭比率價差策略
This is a complicated trading strategy that is not suitable for beginners. There are two transactions involved and a credit spread is created.
這是一個復雜的交易策略，并不適合交易初學者。其中有包含兩個交易并且其中包含了貸方價差期權。
Put Ratio Spread 空頭比率價差策略
This is complex and not for beginners. It creates a credit spread with two transactions.
這是復雜的交易策略，并不適合初學者。這將創(chuàng)建一個貸方價差期權同時包含了兩組交易。
Calendar Straddle 日歷跨式套利
This involves four separate transactions to create a debit spread. It isn't suitable for beginners.
這交易策略包含了四組各自獨立的交易并且要求創(chuàng)建一個借方價差期權組合，對于新手并不友好。
Calendar Strangle 日歷勒式套利
This creates a debit spread. There are four transactions involved and it isn't suitable for beginners.
該策略要求創(chuàng)建一個借方價差期權組合，同時包含了四個交易，不適合新手。
Butterfly Spread 蝴蝶價差策略
This is complex and involves three transactions to create a debit spread. It isn't suitable for beginners.
復雜并且包含了3組交易策略，并且要求創(chuàng)建一個借方價差期權組合，并不適合新手。
Condor Spread 禿鷹價差策略
This is complex and it creates a debit spread using four separate transactions. It isn't suitable for beginners.
復雜的策略，同時創(chuàng)造了一個借方價差期權組合，運用了四個獨立的期權交易，并不適合初學者。
Albatross Spread 信天翁價差策略
This involves four transactions and is complicated. It creates a debit spread and is not suitable for beginners.
Iron Butterfly Spread 鐵蝴蝶價差策略
This is complex and creates a credit spread. It involves four transactions and it's not suitable for beginners.
復雜，將創(chuàng)造貸方價差期權組合，這包含了四個交易并且不適合初學者使用。
Iron Condor Spread 鐵禿鷹價差策略
This is complex, involving four transactions, and it's not suitable for beginners. It creates a credit spread.
復雜，包含了四組交易，并不適合新手，同時要求創(chuàng)建貸方價差期權組合。
Iron Albatross Spread 鐵信天翁價差策略
This is complicated and not suitable for beginners. It involves four transactions and creates a credit spread.
復雜，不適合新手，包含了四組交易，包含了貸方價差期權( long OTM+ short ATM )。
.jpg)
AQF考友群：760229148
金融寬客交流群：801860357
微信公眾號：量化金融分析師
