Verwenden Sie „hedging“ in einem Satz

1. The top of the hedgerow is a mess of shattered branches – the hedging machine has been along here

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2. The grass had recently been mowed, and the hedging recently

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3. Headlights sweep away beyond the hedging at the front of the house

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4. After all, there WAS a certain divinity hedging a minister, even a poor, unworldly, abstracted one

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5. He was accompanied by his beautiful Italian assistant, Angela, It was clear that hedging had its benefits

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6. Athene thought it more probable that they feared the father and were hedging their bets in case he came after them to wreak vengeance

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7. Hedging costs money in the form of insurance premiums, and lower return on investments

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8. Max was also hedging his bets and creating an alibi in Ray

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9. At first glance, it appeared that Enron was placing money lost in hedging

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10. good job of hedging the Delmons in from all sides

11. Hedging : Protecting assets from currency fluctuations

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12. And that Cam knew too, and for some reason, Cam was hedging

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13. statements,” again, hedging the bet

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14. He pulled the receiver out from under his jacket and went to throw it into the laurel hedging behind the gatepost

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15. ” Like a teenager hedging her words, distancing herself

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16. He was wearing an embroidered shirt with small mirrors sewn into the fabric over a scoop-necked Mickey Mouse T-shirt, some beads and a wooden cross on a length of twine, along with the gold Sacred Heart and Saint Christopher on a chain that he had always worn, as if hedging his bets against more fashionable deities

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17. For instance, the cost of fully hedging a complex portfolio with options can easily run over 10 percent on an annualized basis

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18. In simple buying or selling transactions (excluding spreading and hedging, which we will get to in a minute) the buyer is willing to part with the money because he believes the asset will offer him more value in the future than the money he gave up

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19. This is a simple example of a hedging transaction, and more complicated examples exist in all markets

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20. So if we have boatloads of calls outstanding relative to typical volume in the stock, it stands to reason that we will have more natural stock sellers hedging those calls

21. The later the trade, the more intense the hedging nearer to expiry vis-à-vis a more stale position that suddenly gets near the money and in play and was likely hedged long ago

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22. Can Math Solve This Hedging Problem?

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23. Part of the reason for this change in trading patterns is that some of the portfolio hedging trades formerly conducted with VIX options are now being redirected to options on double inverse ETFs

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24. hedging with, 105–107, 113–116

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25. Skew is a term for how cheap or expensive calls and puts are relative to ATM options in reaction to hedging activities

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26. This is not always the case, but if you take a look at the structure of SPX, you can see how hedging activities affect the volatility surface

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27. Hedging activities are not constant, and at any given time calls and puts can become overpriced or underpriced

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28. Retail traders lack the ability to trade and execute many hedging strategies

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29. One method is for very active traders that I call “pay the decay,” and the other is for less active traders that I call “delta/gamma ratio hedging

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30. When I asked my host whether his traders were hedging or speculating, he looked me straight in the eye and said, “Yes

31. Companies crisscross the thin line between hedging and speculating, using inside information

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32. While some currency trades serve the hedging needs of importers and exporters, most transactions are speculative

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33. Gold is a good asset for hedging against inflation and also for asset preservation during times of global turmoil

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34. Unlike commercial users who are using the markets for hedging purposes, speculators are simply interested in making profits; thus, they tend to move the markets in different ways

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35. Although independent traders like you and me can and do trade the futures markets, most players in the futures markets are large commercial entities that use the futures markets for price hedging

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36. Generally, the OTC market isn’t suitable for individual investors who seek speculative opportunities because it consists primarily of large commercial users (such as oil companies and airlines) who use it solely for hedging purposes

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37. Hedging gives these commercial enterprises the opportunity to reduce the risk associated with daily price fluctuations by establishing fixed prices of primary commodities for months, sometimes even years, in advance

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38. Consider a few examples of entities that use the futures markets for hedging purposes:

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39. To get a better idea of hedging in action, consider a hedging strategy that the airline industry uses

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40. Phelps Dodge has an active hedging program, in which it enters into agreements with other market participants through the futures markets, to hedge against price risk

41. However, not all hedgers are created equal, and Phelps Dodge has taken some hits in the past as a result of its hedging activities

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42. As with the other agricultural commodities discussed in this chapter, the CME offers a futures contract for those interested in capturing profits from wheat price movements — whether for hedging or speculative purposes

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43. A big thing to watch out for is hedging

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44. Watch out for hedging or you can back the wrong mine; one without the zippy share price you crave

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45. The bomb is their statement that the hedging position with their bank is crippling them and they might have to dilute through an issue of shares

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46. FTSE 100 is a liquid index used for hedging currencies, commodities and you name it

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47. This is because of the different uses of options between traders who use options for speculation and hedging

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48. With the “In-The-Money Debit Spread” the trader knows that not only is his risk limited, but actually he is hedging some of his losses by the gains on the option he sold

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49. This often happens in volatile markets as there is an increased demand for these “more active” options for speculation and hedging

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50. Then we’ll tackle the hedging because it can have a dramatic impact on the specs

51. Kassouf and Thorp proved, through the use of track records and through some sound theoretical and academic studies, that the short selling of warrants can provide a high and consistent profit when the investor also uses a hedging strategy

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52. Of further significance in the foreign currencies is that the underlying market is as volatile as ever while options are very “cheap;” Therefore, we have recommended (in early 1995) that options not be sold “naked,” but used for hedging or option purchases only

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53. These situations may involve a liquidation or give rise to technical operations known as “arbitrage” or “hedging

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54. In our view it is also proper to consider as investment operations certain types of arbitrage and hedging commitments which involve the sale of one security against the purchase of another

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55. There is equal confusion to be found in the FASB approach to accounting for derivatives, hedging, pensions, leases, and recognition of profits for carried interests, to name a few

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56. (As it happened, however, the company issued a convertible preferred stock in 1928 which made possible a profitable hedging operation, consisting of the purchase of the preferred and the sale of the common

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57. Such phenomena invite not only direct exchanges but also hedging operations

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58. The second were “unrelated” hedging operations, in which the purchased security was not exchangeable for the common shares sold

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59. Klarman, recognizing how much rides on those kinds of bets, especially when leverage is employed, steers clear of that kind of hedging

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60. For directional traders of options (such as agricultural firms looking to hedge price movements in grains) this was not too problematic; because the payoffs at expiration of the options were known as well as the current price, the options were still perfectly usable as a hedging or speculative tool

61. It can guide them on the overall magnitude of their risk and also on how to mitigate this risk by hedging appropriately

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62. Does the trader need to re-hedge? What is the overall result of his hedging activity?

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63. So trading an option at a price of p and hedging with the spot at a price of s, ‘locks-in’ the implied volatility level traded at one unique level, i

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64. There is no hedging effect as in part a)

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65. This is known as gamma hedging

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66. A TIPS purchase would not be a short term investment, but rather an asset that is considered a long term income-producing, hedging investment (see Figure 9

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67. Even though what I have discussed about gold so far makes it an attractive hedging tool for any portfolio, this chapter is about inflation

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68. On March 31, 2010, OceanaGold announced that it had successfully closed out all of its hedging facilities and that its cash flow would increase by 200 percent for the remainder of 2010

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69. ”4 This pamphlet included a description of some commonly used hedging and trading strategies such as the “call-of-more” and the “call-and-put

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70. This, of course, is the whole objective behind hedging

71. The entire dynamic hedging process for our hedge, with adjustments made at weekly intervals, is shown in Figure 8-1

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72. Nonetheless, most traders have found through experience that using a dynamic hedging strategy, even if only at discrete intervals, is the best way to capture the difference between an option’s price and its theoretical value

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73. Let’s look at one other dynamic hedging example, this time in the form of an overpriced put in the futures option market

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74. We will then follow a dynamic hedging procedure by recalculating the put delta at the end of each week and buying or selling futures to remain delta neutral

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75. The entire dynamic hedging process is shown in Figure 8-4

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76. In theory, we can replicate an option position through a dynamic hedging process

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77. The cost of this replication is equal to the sum of all the cash flows resulting from the dynamic hedging process

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78. The dynamic hedging examples in Chapter 8 are typical gamma spreads

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79. 00 each and buying one underlying contract and dynamically hedging the position over the life of the option

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80. In Chapter 8, we showed that it is possible, at least in theory, to capture an option’s mispricing in the marketplace by employing a dynamic hedging strategy

81. The first step in this process involves hedging the option position, delta neutral, by taking an opposing market position in the underlying contract

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82. There are clearly many different ways of hedging our 10 calls

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83. As with insurance, there is a cost to hedging

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84. Every hedging decision is a tradeoff: what is the hedger willing to give up under one set of market conditions in return for protection under a different set of market conditions

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85. Selling a covered call against a long stock position is one of the most popular hedging strategies in equity option markets

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86. The purchase of a protective option and the sale of a covered option are the two most common hedging strategies involving options

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87. 3 Collars are popular hedging tools because they offer known protection at a low cost

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88. A summary of basic hedging strategies is given in Figure 17-7

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89. Because most hedgers are not professional option traders and have neither the time nor the desire to carefully analyze option prices, simple hedging strategies involving the purchase or sale of single options are the most widely used

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90. However, if one is willing to do a more detailed analysis of options, it is possible to construct a wide variety of hedging strategies that involve both volatility and directional considerations

91. The hedger can then combine his knowledge of options with the practical considerations of hedging

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92. In addition to protecting a position against an adverse move in the underlying contract, hedging strategies have an additional important advantage—they tend to reduce the volatility of a position

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93. In the stock option example, we bought a call at a price that was less than its theoretical value and then sold the call, through the dynamic hedging process, at a price that was equal to its theoretical value

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