{"id":98713,"date":"2017-10-11T14:17:08","date_gmt":"2017-10-11T12:17:08","guid":{"rendered":"http:\/\/gazdasagportal.hu\/?p=98713"},"modified":"2017-10-11T14:17:08","modified_gmt":"2017-10-11T12:17:08","slug":"ib-irrealis-margin-emelkedes-volatility-termekekben","status":"publish","type":"post","link":"https:\/\/gazdasagportal.hu\/index.php\/ib-irrealis-margin-emelkedes-volatility-termekekben\/","title":{"rendered":"IB: Irre\u00e1lis margin emelked\u00e9s Volatility term\u00e9kekben"},"content":{"rendered":"<p><strong>El\u00e9g sok piaci szerepl\u0151 tart a t\u00falzottan alacsony VIX-t\u0151l, \u00edgy sz\u00e1mos br\u00f3kerc\u00e9g jelent\u0151sen megn\u00f6velte a margin k\u00f6vetelm\u00e9ny\u00e9t ezen term\u00e9kek keresked\u00e9s\u00e9nek. Az Interactive Brokers is nagyot emelt rajta, irre\u00e1lisan nagyot.<\/strong><!--more--><\/p>\n<div class=\"ads-in-post1\"><div id=\"gazdasagportal.hu_fullbanner_wideboard\"><\/div>\r\n<\/div>\n<p>2017.08.05-\u00e9n az IB hivatalos k\u00f6zlem\u00e9nyben felh\u00edvta \u00fcgyfeleinek figyelm\u00e9t, hogy a margin k\u00f6vetelm\u00e9ny\u00e9t ezen term\u00e9keknek megn\u00f6veli. A lev\u00e9l azt nem tartalmazza, hogy mennyivel, \u00edgy sok esetben komoly meglepet\u00e9s \u00e9rheti a keresked\u0151t. Egyik di\u00e1kom folyamatosan SVXY Put opci\u00f3kat \u00edr ki \u00e9s olykor annyira extr\u00e9m margin k\u00f6vetelm\u00e9nyt l\u00e1tott bek\u00f6t\u00e9s el\u0151tt, hogy be sem tudta vinni a megb\u00edz\u00e1s\u00e1t. N\u00e9zz\u00fcnk r\u00e1 egy p\u00e9ld\u00e1t.<\/p>\n<p><strong>SVXY Put ki\u00edr\u00e1s<\/strong><\/p><div id=\"gazda-2301161742\" class=\"gazda-tartalomban gazda-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-6t+ed+2i-1n-4w\"\r\n     data-ad-client=\"ca-pub-1959107119989764\"\r\n     data-ad-slot=\"4008251320\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Az alapterm\u00e9k \u00e1rfolyama jelenleg 95.94. Ha most szeretn\u00e9k ki\u00edrni egy 90-es Put opci\u00f3t okt\u00f3ber 20-i lej\u00e1rattal, annak a margin k\u00f6vetelm\u00e9nye (initial margin) $12.685, a pr\u00e9mium, amit a ki\u00edr\u00e1s\u00e9rt kapok $233. Ez egy el\u00e9g gyenge credit \/ margin ar\u00e1ny. R\u00e9gen enn\u00e9l sokkal alacsonyabb margin k\u00f6vetelm\u00e9ny mellett lehetett erre a term\u00e9kre opci\u00f3kat ki\u00edrni.<br \/>\n<div class=\"ads-in-post2\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-6t+ed+2i-1n-4w\"\r\n     data-ad-client=\"ca-pub-1959107119989764\"\r\n     data-ad-slot=\"4008251320\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>Vegy\u00fck \u00e9szre a margin m\u00e9ret\u00e9nek irre\u00e1lis volt\u00e1t.<\/strong>\u00a0Amennyiben 90-es Put opci\u00f3t \u00edrok ki a max. kock\u00e1zatom az, hogy a term\u00e9k lemegy null\u00e1ra (es\u00e9lytelen) \u00e9s akkor leszek 90 x 100 vesztes\u00e9gben (az\u00e9rt mert 90-en vennem kell 100 db alapterm\u00e9ket), azaz $9.000 m\u00ednuszban. Teh\u00e1t ezen az \u00fcgyleten a max. vesztes\u00e9gem $9.000 m\u00e9gis a margin $12.685. Indokolatlan&#8230;<\/p>\n<p>Tam\u00e1ssal t\u00f6rt\u00e9nt lev\u00e9lv\u00e1lt\u00e1sunkb\u00f3l az is kider\u00fclt, hogy olykor l\u00e1tott $20.000-n\u00e9l is magasabb margin k\u00f6vetelm\u00e9nyt egy opci\u00f3s kontraktus ki\u00edr\u00e1sa eset\u00e9n. Ez a m\u00e9rt\u00e9k\u0171 fel\u00e1raz\u00e1s teljesen irre\u00e1lis, hiszen mint l\u00e1ttuk a max. vesztes\u00e9gem $9.000 lenne a fenti esetben.<\/p>\n<p>Amikor r\u00e1k\u00e9rdezett az IB-n\u00e9l erre a probl\u00e9m\u00e1ra, az al\u00e1bbi v\u00e1laszt kapta:<\/p>\n<p><a href=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-98715\" src=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_1.png\" alt=\"\" width=\"794\" height=\"191\" srcset=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_1.png 794w, https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_1-300x72.png 300w, https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_1-768x185.png 768w\" sizes=\"(max-width: 794px) 100vw, 794px\" \/><\/a><\/p>\n<p><strong>Nagyon elterjedt a volatilit\u00e1s keresked\u00e9s<\/strong><\/p>\n<p>Azt gyan\u00edtom, hogy nem csak a VIX alacsony mivolta miatt emeltek margint, hanem nagyon elterjedtt\u00e9 v\u00e1lt az\u00a0<a href=\"http:\/\/www.opcioguru.com\/oktatas\/volatrade-strategia?src=gazdasagportal&amp;medium=cikk&amp;ad=ib-irrealis-margin-emelkedes\" target=\"_blank\" rel=\"noopener\"><strong>opci\u00f3s volatilit\u00e1s keresked\u00e9s<\/strong><\/a>\u00a0\u00e9s egyre nagyobb a benne rejl\u0151 kock\u00e1zat, f\u0151leg ha az emberek \u00e9sz n\u00e9lk\u00fcl alkalmazz\u00e1k azt (pl. fedezetlen Call ki\u00edr\u00e1s VIX-re). \u00c9ppen ez\u00e9rt d\u00f6ntenek \u00fagy a konzervat\u00edvabb br\u00f3kerc\u00e9gek, hogy megn\u00f6velik a margin k\u00f6vetelm\u00e9nyt. Ha a hely\u00fckben lenn\u00e9k, \u00e9n is \u00edgy j\u00e1rn\u00e9k el, hab\u00e1r a max. vesztes\u00e9g m\u00e9rt\u00e9k\u00e9t figyelembe venn\u00e9m \u00e9s ann\u00e1l t\u00f6bb margint nem k\u00e9rn\u00e9k be, mert felesleges.<\/p>\n<p>\u00cdme az eredeti IB k\u00f6zlem\u00e9ny relev\u00e1ns r\u00e9sze:<\/p>\n<p><a href=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-98714\" src=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_2.png\" alt=\"\" width=\"600\" height=\"633\" srcset=\"https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_2.png 600w, https:\/\/gazdasagportal.hu\/wp-content\/uploads\/2017\/10\/svxy_2-284x300.png 284w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El\u00e9g sok piaci szerepl\u0151 tart a t\u00falzottan alacsony VIX-t\u0151l, \u00edgy sz\u00e1mos br\u00f3kerc\u00e9g jelent\u0151sen megn\u00f6velte a margin k\u00f6vetelm\u00e9ny\u00e9t ezen term\u00e9kek keresked\u00e9s\u00e9nek. Az Interactive Brokers is nagyot emelt rajta, irre\u00e1lisan nagyot.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[136,8,137],"tags":[],"_links":{"self":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/98713"}],"collection":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/comments?post=98713"}],"version-history":[{"count":1,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/98713\/revisions"}],"predecessor-version":[{"id":98716,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/98713\/revisions\/98716"}],"wp:attachment":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/media?parent=98713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/categories?post=98713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/tags?post=98713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}