想要把浮动变成固定，为什么不是把不想要的付出去，把想要的收回来呢？

NO.PZ2018113001000034 问题如下 A company plans to take out a $10 million floating-rate loin one year. The lowill two years with annupayments the rate of Libor. The company believes ththe interest rates will increase in one year, so it woullike to purchase a swaption to convert floating-rate loto fixerate loan. Whtype of swaption shoulthe company use to achieve the target? buy a payer swaption buy a receiver swaption sell a payer swaption A is correct. 考点：Using Swaption to Convert Loans 解析: Payer swaption是有一个权利进入付固定，收浮动的swap。 Receiver swaption是有一个权利进入收固定，付浮动的swap。 公司一年后有一个浮动利率贷款且预测LIBOR会上升，为了回避这个风险，应该买一个payer swaption。 当利率真的上升时，公司可以选择执行这个权利，进入付固定，收浮动的swap。Swap中收到的浮动利率与贷款中支付的浮动利率抵消，此时整个头寸就变成付固定利率，从而达到目标。 题目不是要convert floating rate to fixerate吗？为什么不是receive fix rate？

NO.PZ2018113001000034问题如下 A company plans to take out a $10 million floating-rate loin one year. The lowill two years with annupayments the rate of Libor. The company believes ththe interest rates will increase in one year, so it woullike to purchase a swaption to convert floating-rate loto fixerate loan. Whtype of swaption shoulthe company use to achieve the target? buy a payer swaption buy a receiver swaption sell a payer swaption A is correct. 考点：Using Swaption to Convert Loans 解析: Payer swaption是有一个权利进入付固定，收浮动的swap。 Receiver swaption是有一个权利进入收固定，付浮动的swap。 公司一年后有一个浮动利率贷款且预测LIBOR会上升，为了回避这个风险，应该买一个payer swaption。 当利率真的上升时，公司可以选择执行这个权利，进入付固定，收浮动的swap。Swap中收到的浮动利率与贷款中支付的浮动利率抵消，此时整个头寸就变成付固定利率，从而达到目标。 sell a payer swap是不是等于receive fixe