Buy open gold options
Because you only need to pay a premium to buy open-end gold options, you don't need a deposit. The premium formula for buying open-ended gold options is: latest price * 1000.
The picture above shows the quotation of Boyi gold option. The T chart of options can refer to the previous article. How to read T-chart of option quotation quickly? (1) Take the AU2008-C-380 contract (call option, the expiration date is August 2020, and the exercise price is 380 yuan/gram) as an example. The latest quotation is 18.46 yuan/gram, and the royalty required to buy the open position contract is 18.46 * 68. Because this contract is a real value contract, the commission will be higher. If it is a virtual value contract, the commission required for opening a position will be less. ?
Sell open gold options
As a seller of gold options, it is to get royalties. When the option buyer exercises its rights, it is obliged to buy or sell gold futures at the exercise price. The formula for calculating the royalties obtained by selling open-end gold options is:
The latest quotation *1000; ?
Selling open-end gold options requires a certain margin, and the calculation formula of the margin is the greater of the following two:?
(1) Settlement price of option contract * trading unit of underlying futures contract+trading margin of underlying futures contract-imaginary value of option contract *0.5 (imaginary value of flat option contract and real option contract is 0)
(2) Settlement price of option contract * trading unit of the underlying futures contract+trading margin of the underlying futures contract *0.5?
Take the sale of the contract of AU2004-C-380 (a call option with the expiration date of August 2020 and the exercise price of 380 yuan/gram) as an example, the latest offer price is 18.46 yuan/gram, and the royalty for selling a gold option contract is18.46 *1000 =. ?
If the settlement price of the gold option contract is 18 yuan/gram, the margin ratio for selling the gold option is 1 1%:
(1)18 *1000+390.52 *1000 *1%-0 (imaginary value of option contract) * 0.5 =/kloc-.
(2)18 *1000+390.52 *1000 *1%* 0.5 = 39,478.6 yuan?
As can be seen from the above calculation, the value of (1) is greater than (2), so a down payment of 60,957.2 yuan is needed to sell the first hand of AU2008-C-380. ?
The correct amount obtained by selling the gold option is 18460 yuan. As a seller of gold options, the account needs to be no less than 60957.2- 18460=42497.2 yuan. ?