【讲座】期权的第9局部基础常识

1，认购期权的价钱范畴的请求？
|认购期权的行权价格限制幅度= max｛0.2%，最小[（2合同标的物的前收盘价-行权价），前] 10% }
收盘价合同标的实值，公道价值的价格限制幅度=看涨期权合同的对象在10%
收盘价看涨期权的价格限度幅度= max {行使价格虚构价值（0.2%，2，合同前收盘价-行权价格的对象）10% }

限制看涨期权的振幅，下列规定：
|（1）当价格上限是小于或即是最小报价单位振幅，不设置价格上限，计算结束的振幅依据最小报价单位交易价格
盘算；

（2）在最后一个交易日，刚成破的价格制约，不限制价格；

（3）假如价格上限是根据上述公式是低于最低投标单位,二元期权平台，然后的刻度大小限制价格（即，不设限制价格）。
|例在2012年7月27日（礼拜五）3.72是工商银行的收盘价，合同结算价格的假设期权到期在2012八月，3.8元到0.06元行权价。而后在七月三旬日（星期一）认购期权（平和的名义）变更率：
|价格= max｛0.0076（2 10% } = 0.364 ，3.723.8）
涨停板= 0.06 + 0.364 = 0.424 |
|极限= 0.060.364＝0.304＜0.001，0.001 |
|根据公式计算逐日限额是-0.304，最小的单位价格的鱼0.001，所以天天的限制的最低报价单位0.001。

2，如何看跌期权的价格管制？
看跌期权价格限制幅度= max {行使价2%，最小[（2行权价在收盘价合同的对象），前] 10% }  
收盘价合同标的
实值,二元期权，偏颇价值的期权的行权价格限制幅度= max { 0.2%，10% }
前收盘价合同
虚值期权的行权价格的价格限制幅度= max｛0.2%，[（2行权价在收盘价合同的对象）10% 。


为了方便国外朋友阅读，现部分英文对照如下：
1, the subscription option price range requirements?
subscription option exercise price the price limit amplitude =max{× 0.2%, min[(2× the object of the contract before the closing price - the exercise price), the object of the contract before the closing price of]× 10%}
real valued, fair value price limit amplitude = call option contract object before the closing price of × 10%
virtual value of call option price limit amplitude =max{exercise price (× 0.2%, 2× the object of the contract before the closing price - the exercise price) × 10%}
and, to limit the amplitude of the call option, the following provisions:
(1) when the price limit is less than or equal to the minimum quotation unit amplitude, do not set the price limit, trading price of the calculated stop amplitude calculated according to the minimum quotation unit;
(2) in the final trading day, just set the limit price, do not set the limit price;
(3) if the price limit is calculated according to the above formula is less than the minimum bidding units, then the limit price of tick size (i.e., do not set the limit price).
cases in July 27, 2012 (Friday) 3.72 is the industrial and commercial bank's closing price, the contract settlement price assumptions call option on 2012 expires in August, exercise price of 3.8 yuan to 0.06 yuan. Then in July 30th (Monday) the subscription option (mild nominal) rate of change:
price =max{0.0076 (2× × 10%}=0.364
3.723.8)