Quiz sur les options

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Quel type de produits dérivés sont les CDS?

Options et contrats à terme (correct)
Options
Futures
Contrats à terme

Quel est le sujet du livre 'Options, futures et autres actifs dérivés' de John Hull?

Les swaps
Les contrats à terme
Les marchés financiers
Les produits dérivés (correct)

Quel est le contenu du CD-ROM inclus dans le coffret du livre 'Options, futures et autres actifs dérivés'?

Des corrigés des exercices (correct)
Des quiz interactifs
Des exercices supplémentaires
Des vidéos explicatives

Quel est le sujet du livre 'Finance de marché: Instruments de base, produits dérivés'?

Les instruments de base (A) Signup and view all the answers

Qu'est-ce qu'un produit dérivé?

Un produit dont la valeur dépend de celle d'un autre élément (A) Signup and view all the answers

Quel est le rôle du delta dans un portefeuille d'actifs dérivés?

Mesurer la sensibilité du portefeuille aux variations du sous-jacent (D) Signup and view all the answers

Quel est le contenu du livre 'Options, futures et autres actifs dérivés'?

Des exercices corrigés sur les produits dérivés (B) Signup and view all the answers

Qu'est-ce qu'Options, futures et autres actifs dérivés ?

Un livre sur les options et les produits dérivés (D) Signup and view all the answers

Quelle est la dernière édition de Options, futures et autres actifs dérivés ?

9e édition (A) Signup and view all the answers

Quel est le contenu du livre Options, futures et autres actifs dérivés ?

Des solutions accompagnant le manuel (A) Signup and view all the answers

Which one of these is the correct definition of open interest?

The total number of contracts outstanding for a futures contract at a particular time. (A) Signup and view all the answers

What is the role of a futures commission merchant?

To trade on behalf of a client and charge a commission. (B) Signup and view all the answers

Which of the following is true about the company's loss in 2017 if it is classified as a speculator?

The loss is $3,000 (A) Signup and view all the answers

What price change would lead to a margin call for the short futures contract?

A price increase of 20 cents per bushel (B) Signup and view all the answers

What position is equivalent to a long forward contract to buy an asset at K on a certain date and a put option to sell it for K on that date?

A call option (C) Signup and view all the answers

Calculate the standard deviation of two-day changes from the standard deviation of one-day changes assuming that changes are independent.

$\sqrt{2}\sigma$ (C) Signup and view all the answers

How frequently would the balance in the account of a client with a long position be negative if the maintenance margin is equal to 75% of the initial margin?

100% (A) Signup and view all the answers

According to the text, what is the company's total profit from the delivery of 1,000 barrels?

$2,200 (C) Signup and view all the answers

When is the company's total profit realized?

Between January 1, 2019 and March 2019 (C) Signup and view all the answers

How is the company's total profit taxed if it is a hedger?

Taxed on the whole profit of $2,200 in 2019 (D) Signup and view all the answers

How is the company's total profit taxed if it is a speculator?

Taxed on $800 in 2018 and $1,400 in 2019 (D) Signup and view all the answers

Which one of the following is true about the role of speculators in futures markets?

Speculators add liquidity to the market. (D) Signup and view all the answers

What happens to the open interest when a futures contract is traded on the floor of the exchange?

Open interest may increase by one, stay the same, or decrease by one. (C) Signup and view all the answers

What is the total profit for a company that sells one April 2019 live-cattle futures contract and closes out its position on January 21, 2019?

$1,160 (B) Signup and view all the answers

How can a cattle farmer use live-cattle futures contracts for hedging?

The farmer can short futures contracts to offset potential losses on the sale of cattle. (B) Signup and view all the answers

Which of the following is a disadvantage of using futures contracts for hedging?

The price received for the gold cannot be locked in (C) Signup and view all the answers

What is the impact on open interest when 1,400 shorts close out and there are 800 new shorts in a particular futures contract?

The open interest goes down by 600 (C) Signup and view all the answers

What is the total profit of Trader A and Trader B in dollars when the impact of daily settlement is ignored?

$30,000 for both Trader A and Trader B (B) Signup and view all the answers

What is the company's profit or loss on the orange juice futures contract if the futures price goes from 120 cents per pound to 125 cents per pound?

$750 loss (A) Signup and view all the answers

Which of the following is true about margin calls in the futures market?

A margin call occurs if the futures price falls by more than 10 cents. (B) Signup and view all the answers

What is the difference between a market-if-touched order and a stop order?

A market-if-touched order is executed at the best available price after a trade occurs at a specified price or a more favorable price, while a stop order is executed at the best available price after there is a bid or offer at the specified price or a less favorable price. (C) Signup and view all the answers

What does a stop-limit order to sell at $20.30 with a limit of $20.10 mean?

The contract should be sold as soon as there is a bid at $20.30, providing it can be done at $20.10 or a higher price. (C) Signup and view all the answers

How much does a clearing house member have to add to its margin account if they are responsible for clearing an additional 20 long contracts, entered into at a price of $51,000 per contract, and the settlement price at the end of the day is $50,200?

$36,000 (C) Signup and view all the answers