If interest rates rise, the option cushions portfolio loss as the bank receives the option premium.

如果利率下跌时，银行虽然得到期权费，但是却失去了一些潜在利益。

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They feel the protection they are receiving against adverse developments is worth more than the option premium.

他们认为购买期权获得抵御不利情况的保障价值大于支付的期权费用。

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So, , the option premium is like insurance premium a customer pays to an insurance company against possible loss.

张：所以说，期权保险金如同客户为避免可能的损失而向保险公司支付的那种保险金了。 。

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If the option expires worthless, the option premium is extra money in your pocket.

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Putting yourself in a situation where you can do so while at the same time being able to take advantage of option premium decay is an interesting concept.

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Using options allows one to enjoy a greater level of volatility as the strikes being away from the market turn all option premium over to the time value.

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