这个集团已经成为一个商品期权交易的销售巨头。
The group became a sales juggernaut in the commodity options business.
他们在每季度结束前假装停止他们的期权交易策略，而转向财政部门。
They pretended to exit their options-trading strategy and shift into Treasuries before the end of each quarter.
无抵期权策略涉及极大或无限的风险。
Uncovered options strategies involve significant or unlimited risk.
辛普森声称交易员不是简单地处理缺口期权。
Simpson claims that traders were not simply dealing with the gap option.
回溯期权是一种具有路径依赖的奇异期权。
所有的雇员都拥有公司的股票期权。
第6部分介绍期权。
这就是最早期权力是如何体现出来的。
This is how, from earliest times, power has been projected through images.
投资者能够交易股票、债券、货币和商品的期权。
Investors can trade options on stocks, bonds, currencies, and commodities.
然后我会讨论期权市场，到这课程就快要结束了。
Then I want to talk about options markets — this is getting close to the end of the course.
该指数以为标准普尔500指数期权的价值为基础计算。
It's based on the value of Standard &Poor's 500 Index options.
期货合同是买卖资产的合同，而期权合同则是如同保险。
Whereas futures contracts lock in the participants to buy or sell an asset, an option is more like insurance.
同样，这要求期权交易授权和复杂有效的对它们进行操作。
Again, this requires options trading authorization and the sophistication necessary to trade them effectively.
相反，他们购买的是那些到期时以现金支付的期货及期权。
Instead, they buy futures and options which they settle with a cash payment when they fall due.
由于没有基础市场报价，与这些股票相关的期权也无法交易。
Options traded on these shares also cannot trade - there is no underlying market to quote them against.
接下来的内容将会是期权市场,讲到这里课程也就接近尾声了
Then I want to talk about options markets-- this is getting close to the end of the course.
伯克希尔公司表示，这些期权的加权平均剩余期限是14年。
Berkshire says the options have a weighted average remaining life of 14 years.
这种反应包括决定和改变薪酬，红利，和高管与员工的期权。
These responses include determining and changing the salaries, bonuses, and stock options of employees and top executives.
发源于芝加哥期权交易所，期权已经交易了几十年了。
The options have been traded for several decades, starting with the Chicago Board Options Exchange. But now there are many options exchanges.
他们希望买到能够抵御最差情况的保险，而这就意味着认购期权。
They seek to buy insurance against the worst that can happen, and that means buying options.
这些证券可能包括股票、债券、共同基金或衍生工具如期权和期货。
These securities may include stocks, bonds, mutual funds, or derivatives such as options and futures.
他开始减少手头的指数看跌期权，增持基金中的公司股票。
He starting reducing the index puts and buying more shares of the companies in his fund.
由于用人单位发现其他企业回溯期权，他们觉得也得被迫应随。
As employers came across other firms using backdating, they felt obliged to do so too.
在1973年，芝加哥期权交易中心成立了，成为期权交易场所。
And the Chicago Board Options Exchange was set up in 1973 as a forum for trading.
期权最初从芝加哥期权交易所进行交易，到现在已经交易了几十年。
The options have been traded for several decades, starting with the Chicago Board options Exchange.
期权持有人只能等到到期，然后尽可能猜测究竟是执行，还是不执行手中的期权。
Option holders must wait for expiration, then make a best guess whether to exercise their options, or allow them to expire.
在支付看跌期权的同时，高管还可以要求经纪商出售其股票的看涨期权。
To pay for the put, the executive simultaneously has his broker sell a call option on his stock.
几家学术报纸发现了可疑的期权认购时间的方式而引起了期权回溯丑闻。
The backdating scandal was triggered by several academic papers that identified suspiciously favourable patterns in the timing of option grants.
几家学术报纸发现了可疑的期权认购时间的方式而引起了期权回溯丑闻。
The backdating scandal was triggered by several academic papers that identified suspiciously favourable patterns in the timing of option grants.
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