06/01/2009 白天灌水

49north

灌水一下,如果买了gm的put,gm 破产，那这个put 怎么算呢？
vivian 发表于 2009-6-1 11:31

If you own put options on stocks of a company that has just declared or filed for bankruptcy, you are in for a huge reward. The delivery and settlement of every stock option is guaranteed by the OCC, Options Clearing Corporation, in the US Market. Whoever sold you that right to sell shares of that company at that higher price is obliged to fulfill that obligation, so your profit is guaranteed. The only question is, what happens when that company files for bankruptcy and trading in its stocks and options are suspended? When that happens, trading of that company's stocks and options moves to the Over The Counter (OTC) market or what is known as "Pink Sheet" market where you are able to either sell those put options for a profit or exercise the options and sell the stocks for the same profit. Since it is the company that is going illquid and insolvent and not the person or institution who sold you those put options, you are guaranteed your profit and delivery.

The most recent example of this are put options on the collasped Lehman Brothers (ex-Ticker : LEH) which filed for bankruptcy on 14 Sep 2008. After filing for bankruptcy, Lehman Brothers' shares moved from the exchange to the OTC market (Ticker Symbol LEHMQ or LEHMQ.PK) where it traded at $0.05 per share on 18 Sep 2008. That is when put option holders can choose to exercise the put options by buying the shares at $0.05 and selling it at the strike price for a big profit.

lite1067

主板上去问吧，no idea。这问题有意思。
Cobra 发表于 2009-6-1 10:34

put or call is based on GM's share price... and stock option is always physical settle (i.e. you get or give actual shares if option is exercised). so basically GM's BK has no effect on options even though it affects its share price...

BTW, GM's shares are soaring to celebrate its BK ! after all, now there is a chance under O8's leadership that equity holders can get whole while bond holders got wiped out....

trueself

1# Cobra

俺终于可以上来顶老大了

wildonion

  

期待盘整后突破！！！

Cobra

1# Cobra

俺终于可以上来顶老大了
trueself 发表于 2009-6-1 11:43

你账户是啥问题？清了cookies就好了？

Cobra

蛇老大怎么看VIX, 以前有过MAD, VIX绿的吗？

74# Cobra
coldcold 发表于 2009-6-1 11:39

没有。

VIX收盘是啥样还不知道呢，现在管这个太早。

Cobra

俺的感觉是VIX收绿，是说明明天可能会跌，但是同时也说明顶没有到，因为还是很多人做空。要今天只涨一点点，但是VIX却崩溃样的暴跌，那才可能说明要到顶了。

水中花

Bears no chance today

vivian

谢谢 49north，lite1067 ：）
不过在没看到你们的解释之前，就乖乖的把帖子发到主版了
我准备买几个put试试看了

jeff110

"现在是典型的突破前盘整，向上的几率大一些儿。"
那就又买了点SEA,呵呵

globe

xiaobailong

俺的感觉是VIX收绿，是说明明天可能会跌，但是同时也说明顶没有到，因为还是很多人做空。要今天只涨一点点，但是VIX却崩溃样的暴跌，那才可能说明要到顶了。
Cobra 发表于 2009-6-1 11:52

fidofido

现在SPX是rising edge吗？

Cobra

现在SPX是rising edge吗？
fidofido 发表于 2009-6-1 12:32

是，不过不一定就会跌。

另外，在trend很强的时候，negative divergence经常都不起作用。

zhao

wlee

VIX is in red now, CPC = 0.73 as of 12:30PM EST

xiaozhu

96# wlee


Tomorrow continue firework??

fidofido

94# Cobra

谢谢蛇老大

Cobra

题外话，跟短期无关。俺还是觉得这bond yield是个问题，这么个涨法。

globe

题外话，跟短期无关。俺还是觉得这bond yield是个问题，这么个涨法。

19896
Cobra 发表于 2009-6-1 12:52

can you say more about it?thanks