NO.PZ2021061002000061
问题如下：
Morgan's
family office currently owns 50,000 QWR shares. Assume
that QWR shares rise over the next three months. Which of the following
statements is accurate?
选项：
A.Compared to buying put on QWR shares in three
months, selling forward on QWR shares in three months would be more profitable.
Compared to shorting forward on QWR shares in
three months, buying put on QWR shares in three months would be more
profitable.
We do not have enough information to
determine whether selling a forward contract or buying a put option will be
more profitable in three months.
解释：
中文解析：
本小题中涉及两种衍生品的使用，分别是short forward和long put。
对于short forward来说，其profit = F0(T)-ST；对于long put来说，profit = max(0, X – ST) – p0。
现在题干说股价涨了，那么如果上涨后的股价ST高于了F0(T)，那么short forward的损失就是二者的差值，损失的绝对值为 –(F0(T)-ST）；
对于long put来说，如果股价涨的高于了执行价格X，那么long put不会行权，损失的只是一开始购买该期权支出的期权费，损失的绝对值为p0。
只有当–(F0(T)-ST）高于p0时，才会说明short forward的损失更高，反之则说明long put 的损失更高。
根据现在的信息无法确定两种衍生品策略哪一个损失更大，因此选C
根据题干来看，说三个月后一定会涨。那我三个月后卖掉就是a选项不对吗
