B为什么不对

NO.PZ202206260100000504 问题如下 Whiof the tras unrtaken the Taurus Funis most likely to accomplish the objective thRivsets the reason for consiring the strategy? A.Tra 1 B.Tra 2 C.Tra 3 SolutionC is correct. Equities anvolatility are negatively correlate In orr to hee the equity exposure in the portfolio, a long volatility position is necessary. Tra 1, a short volatility position, will not hee the equity position sina long volatility position is nee Tra 2 is also a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, provi a hee. Tra 3 is outright purchase of volatility via a swap, whiprovis a pure long exposure anwoulhee the existing equity exposure in the portfolio.A is incorrect. A short volatility position will not hee the equity position sina long volatility position is nee B is incorrect. Tra 2 is a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, es not provi a hee. 请帮忙看看我的理解是否正确1）如果希望承受更低的波动，那就是降低波动的exposure。2）如果想要降低exposure，应该做空VIX futures, 或者做空variance/volatility sw（也就是作为payer进入swap；也就是收固定（strike volatility)，付浮动（actuvolatility)）。3）问题来了，tra 3不是在增加波动的敞口吗？如果想要hee掉equity risk,不是应该降低波动的敞口吗？所以需要麻烦老师帮忙一下这句话Equities anvolatility are negatively correlate In orr to hee the equity exposure in the portfolio, a long volatility position is necessary.

NO.PZ202206260100000504问题如下Whiof the tras unrtaken the Taurus Funis most likely to accomplish the objective thRivsets the reason for consiring the strategy?A.Tra 1B.Tra 2C.Tra 3SolutionC is correct. Equities anvolatility are negatively correlate In orr to hee the equity exposure in the portfolio, a long volatility position is necessary. Tra 1, a short volatility position, will not hee the equity position sina long volatility position is nee Tra 2 is also a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, provi a hee. Tra 3 is outright purchase of volatility via a swap, whiprovis a pure long exposure anwoulhee the existing equity exposure in the portfolio.A is incorrect. A short volatility position will not hee the equity position sina long volatility position is nee B is incorrect. Tra 2 is a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, es not provi a hee.为什么AB不正确而C正确？另外receiver volatility swap是怎么用法？不是收固定支浮动吗？

NO.PZ202206260100000504问题如下 Whiof the tras unrtaken the Taurus Funis most likely to accomplish the objective thRivsets the reason for consiring the strategy?A.Tra 1B.Tra 2C.Tra 3SolutionC is correct. Equities anvolatility are negatively correlate In orr to hee the equity exposure in the portfolio, a long volatility position is necessary. Tra 1, a short volatility position, will not hee the equity position sina long volatility position is nee Tra 2 is also a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, provi a hee. Tra 3 is outright purchase of volatility via a swap, whiprovis a pure long exposure anwoulhee the existing equity exposure in the portfolio.A is incorrect. A short volatility position will not hee the equity position sina long volatility position is nee B is incorrect. Tra 2 is a short position in volatility; the intent is to collea premium for selling volatility. This tra will sell off the same time equities are selling off an therefore, es not provi a hee.receiver volatility不是receive fixepay浮动volatility么，我们这里不应该是要receive 浮动volatility么