问题如下图：
选项：
A. 
B. 
C. 
D. 
解释：
这题c为什么不对？答案没看懂。。
NO.PZ2016071602000019 问题如下 Intify the risk in a convertible arbitrage strategy thtakes long positions in convertible bon heewith short positions in Treasuries anthe unrlying stock. A.Short implievolatility B.Long ration C.Long stolt Positive gamm is correct. This position is heeagainst interest rate risk, so is wrong. It is also heeagainst rectionmovements in the stock, so is wrong. The position is long option (the option to convert the boninto the stock) so is long implievolatility, so is wrong. Long options positions have positive gamm 如题
NO.PZ2016071602000019 问题如下 Intify the risk in a convertible arbitrage strategy thtakes long positions in convertible bon heewith short positions in Treasuries anthe unrlying stock. A.Short implievolatility B.Long ration C.Long stolt Positive gamm is correct. This position is heeagainst interest rate risk, so is wrong. It is also heeagainst rectionmovements in the stock, so is wrong. The position is long option (the option to convert the boninto the stock) so is long implievolatility, so is wrong. Long options positions have positive gamm 老师这道题当中long lta，是不是股票只包含了一阶导的lta。（隐约在CFA还是FRM课程中听到老师提过）期权是包含了一阶导二阶导的，所以如果要想完全做neutral的策略得先将期权的二阶导对冲掉，在利用股票去对冲一阶导。所以这道题long 可转转在short 股票，已经把一阶导的变化给对冲了，所以不选C
NO.PZ2016071602000019 Long ration Long stolta Positive gamma is correct. This position is heeagainst interest rate risk, so is wrong. It is also heeagainst rectionmovements in the stock, so is wrong. The position is long option (the option to convert the boninto the stock) so is long implievolatility, so is wrong. Long options positions have positive gamma.这题帮忙解析下，我不太懂
NO.PZ2016071602000019 请问这一道题的如何用implievolatility 去理解对冲基金去long convertible?
这道题不是在问该策略的风险吗？long positive gamma对于投资者应该是有利的呀
