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阿萌酱 · 2021年01月03日

问一道题：NO.PZ2015122801000057

  1. CFA I
  2. Equity

问题如下：

Astrid is short 400 shares of ABC stock and the stock's current price is $95 per share. She wants to cover her short position if the price falls to $80.

Gail has 250 shares of BBC stock, which is trading at $86 per share, and he needs to buy another 150 shares if the price rises to $98. What orders should Astrid and Gail establish to meet their targets?

选项：

A.

Astrid establishes stop buy at $80 and Gail establishes limit buy at $98.

B.

Astrid establishes stop buy at $95 and Gail establishes stop buy at $86.

C.

Astrid establishes limit buy at $80 and Gail establishes stop buy at $98.

解释：

C is correct.

Astrid should establish a buy order with a limit at  80 because she wants to buy stock to close out her short position if she can buy it at 80(or less).

Gail should establish a stop buy at 98 because this order will be executed only if the stock price rises to 98.

这道题为什么不能用stopbuy呢，用buy的方式来止损。就是stopbuy at 80，那就是跌到80的时候就买入来止损。

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1 个答案

Debrah_品职答疑助手 · 2021年01月03日

同学你好，请先明确stop order是一个有效性指令，而limit order是限定成交价的指令，它们从源头上就不一样。假如当前股票价格为$10 ,发布stop buy @$12指令也就意味着股票价格涨到$12我才开始在市场买入，说明价格只有涨到$12该指令才生效，不到$12就不生效。

这里A同学是在ABC股票股价为$95的时候开始做空股票，他希望在股价为80块钱的时候获利了结，他希望获得的收益是95→80的部分，所以如果A发布stop buy 80,说明股价涨到80也就是触碰到80就应该生效买入，但现在市场价格是95，已经高于80了，所以该指令一旦发出就会马上买入。就没有办法获得95到80的全部profit了。这时就需要用limit order。

sparkle · 2022年05月03日

讲义总共提到了3中指令，excution, validty,clearing，stop 是有效性指令，那limit order 是哪类指令？

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NO.PZ2015122801000057问题如下Astriis short 400 shares of Astoanthe stock's current priis $95 per share. She wants to cover her short position if the prifalls to $80. Gail h250 shares of Bstock, whiis trang $86 per share, anhe nee to buy another 150 shares if the pririses to $98. Whorrs shoulAstrianGail establish to meet their targets?A.Astriestablishes stop buy $80 anGail establishes limit buy $98.B.Astriestablishes stop buy $95 anGail establishes stop buy $86.C.Astriestablishes limit buy $80 anGail establishes stop buy $98. C is correct.Astrishoulestablish a buy orr with a limit 80 because she wants to buy stoto close out her short position if she cbuy it 80(or less). Gail shoulestablish a stop buy 98 because this orr will executeonly if the stopririses to 98.C是正确的。本题考察的是股票交易术语的区别。Stop buy(停止买入) 和 limit buy（限价买入）的最大区别是前者是一个有效性指令，而后者是一个限定成交价的指令. Stop buy是大于等于某股价成交；limit buy是小于等于某股价成交。Stop buy意味着只要比该指令定的价格高，就要买入。在本题中，Astri空股票时的市场价格是95美金，如果用stop buy $80指令，由于市场价远高于80，指令会立即生效，则Astri刻被平仓，就达不到要的效果了。如果用limit buy，则意味这只有到达80这个股价（小于等于），才会平仓，这才满足Astri要求。所以A，B都是错误的。Limit buy同理，如果用limit buy 来实现Gail的愿望，当前股价86美金，那成交的就会是84美金到98美金之间的单，显然不符合Gail的要求。而stop buy是大于98才成交。C正确。 请问84美金（解析）是哪里来的数字？谢谢

2024-10-04 22:12 1 · 回答

NO.PZ2015122801000057问题如下Astriis short 400 shares of Astoanthe stock's current priis $95 per share. She wants to cover her short position if the prifalls to $80. Gail h250 shares of Bstock, whiis trang $86 per share, anhe nee to buy another 150 shares if the pririses to $98. Whorrs shoulAstrianGail establish to meet their targets?A.Astriestablishes stop buy $80 anGail establishes limit buy $98.B.Astriestablishes stop buy $95 anGail establishes stop buy $86.C.Astriestablishes limit buy $80 anGail establishes stop buy $98. C is correct.Astrishoulestablish a buy orr with a limit 80 because she wants to buy stoto close out her short position if she cbuy it 80(or less). Gail shoulestablish a stop buy 98 because this orr will executeonly if the stopririses to 98.C是正确的。本题考察的是股票交易术语的区别。Stop buy(停止买入) 和 limit buy（限价买入）的最大区别是前者是一个有效性指令，而后者是一个限定成交价的指令. Stop buy是大于等于某股价成交；limit buy是小于等于某股价成交。Stop buy意味着只要比该指令定的价格高，就要买入。在本题中，Astri空股票时的市场价格是95美金，如果用stop buy $80指令，由于市场价远高于80，指令会立即生效，则Astri刻被平仓，就达不到要的效果了。如果用limit buy，则意味这只有到达80这个股价（小于等于），才会平仓，这才满足Astri要求。所以A，B都是错误的。Limit buy同理，如果用limit buy 来实现Gail的愿望，当前股价86美金，那成交的就会是84美金到98美金之间的单，显然不符合Gail的要求。而stop buy是大于98才成交。C正确。 老师好 一直搞不清楚stop 与long. Short 以及put,call 结合的意思能一块一下么

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