NO.PZ2016031201000018
问题如下：
An arbitrage transaction generates a net inflow of funds:
选项：
A.throughout the holding period.
B.at the end of the holding period.
C.at the start of the holding period.
解释：
C is correct.
Arbitrage is a type of transaction undertaken when two assets or portfolios produce identical results but sell for different prices. A trader buys the asset or portfolio with the lower price and sells the asset or portfolio with the higher price, generating a net inflow of funds at the start of the holding period. Because the two assets or portfolios produce identical results, a long position in one and short position in the other means that at the end of the holding period, the payoffs offset. Therefore, there is no money gained or lost at the end of the holding period, so there is no risk.
中文解析：
套利是对产生同样收益但价格不同的但个资产采取低买高卖的行为。
这一行为发生在持有期期初，对投资者产生了正的持有期收益。
在投资期末，因为两个资产收益相同，可以相会抵消，所以不存在风险。
那如果期初的时候我只是锁定，到期末在轧差交割不可以吗？
