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2021-06-24

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2021-06-23

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2021-06-19

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诺基亚携手KDDI开展水冷基站试验致力减少温室气体排放

2021-06-15

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@投資貓:$諾基亞(NOK)$[比心]

2021-06-15

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2万亿期权周五到期，年内第二个“四巫日”太可怕？

2021-05-08

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10:29","market":"us","language":"zh","title":"诺基亚携手KDDI开展水冷基站试验 致力减少温室气体排放","url":"https://stock-news.laohu8.com/highlight/detail?id=2144708195","media":"cnBeta.COM","summary":"诺基亚刚刚宣布，其已携手日本移动运营商 KDDI 开展一项试验，以期通过水冷方式来减少自家 AirScale 基站解决方案的温室气体排放。此外诺基亚指出，KDDI 也是首家尝试水冷散热的日本移动运营商，表明了该公司对于可持续发展和应对气候变化的承诺。据悉，除了气候效益，诺基亚水冷 AirScale 基站解决方案还几乎不需要维护。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20210619103625961d2354ghuy7nnc1s\"/><p><strong><a href=\"https://laohu8.com/S/NOK\">诺基亚</a>刚刚宣布，其已携手日本移动运营商 KDDI 开展一项试验，以期通过水冷方式来减少自家 AirScale 基站解决方案的温室气体排放。</strong>与基于风冷的传统解决方案相比，新水冷散热方案可将能耗降低 70% 。此外<a href=\"https://laohu8.com/S/0HAF.UK\">诺基亚</a>指出，KDDI 也是首家尝试水冷散热的日本移动运营商，表明了该公司对于可持续发展和应对气候变化的承诺。</p><p><strong>访问：</strong></p><p>阿里云6·18主会场：每日10点 爆品限时秒杀</p><p><strong>访问购买页面:</strong></p><p>诺基亚旗舰店</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210619103628035d235z7rcaf9ehp3\"/><p>资料图（来自：Nokia）</p><p>值得一提的是，如果 KDDI 进一步选择热量再利用，还可将二氧化碳排放量减少高达 80% 。诺基亚日本市场负责人 John Lancaster-Lennox 评论道：</p><p>本次试验是诺基亚致力于可持续发展和应对气候变化的又一个里程碑，我司是首家提出这种改变游戏规则的水冷解决方案的供应商。</p><p>若运营商有意对环境负起更多的责任，这套解决方案不仅能够为其提供技术支撑，还可帮助他们显著降低运营成本。</p><p>据悉，除了气候效益，诺基亚水冷 AirScale 基站解决方案还几乎不需要维护。即使在有人居住的建筑物附近设置，也能够几乎静音地运行。</p><p>相比之下，传统基于风冷散热的解决方案，不仅噪声非常扰民、还需要费心费力地定期维护。</p><p>最后，KDDI 还在尝试利用 Nokia AVA for Energy Efficiency 方案来进一步提升能源效率。在 AI 加持下，它能够更加可持续地利用能源，帮助减少高达 20% 的能源开销。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210619103629500d235rwgra8lwc33\"/><p>新浪<a href=\"https://laohu8.com/S/WB\">微博</a> QQ空间 <a href=\"https://laohu8.com/S/00700\">腾讯</a>微博 QQ好友 微信 豆瓣网 有道云笔记 百度贴吧 Linkedin</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210619103632205d235ekbynfoyhiu\"/></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>诺基亚携手KDDI开展水冷基站试验 致力减少温室气体排放</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ 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padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n诺基亚携手KDDI开展水冷基站试验 致力减少温室气体排放\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 10:29 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021061910363379c832df&s=b><strong>cnBeta.COM</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>诺基亚刚刚宣布，其已携手日本移动运营商 KDDI 开展一项试验，以期通过水冷方式来减少自家 AirScale 基站解决方案的温室气体排放。与基于风冷的传统解决方案相比，新水冷散热方案可将能耗降低 70% 。此外诺基亚指出，KDDI 也是首家尝试水冷散热的日本移动运营商，表明了该公司对于可持续发展和应对气候变化的承诺。访问：阿里云6·18主会场：每日10点 爆品限时秒杀访问购买页面:诺基亚旗舰店资料...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021061910363379c832df&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/de32cdfac2bad59cafa74c204a27c527","relate_stocks":{"NOK":"诺基亚","0HAF.UK":"诺基亚"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021061910363379c832df&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2144708195","content_text":"诺基亚刚刚宣布，其已携手日本移动运营商 KDDI 开展一项试验，以期通过水冷方式来减少自家 AirScale 基站解决方案的温室气体排放。与基于风冷的传统解决方案相比，新水冷散热方案可将能耗降低 70% 。此外诺基亚指出，KDDI 也是首家尝试水冷散热的日本移动运营商，表明了该公司对于可持续发展和应对气候变化的承诺。访问：阿里云6·18主会场：每日10点 爆品限时秒杀访问购买页面:诺基亚旗舰店资料图（来自：Nokia）值得一提的是，如果 KDDI 进一步选择热量再利用，还可将二氧化碳排放量减少高达 80% 。诺基亚日本市场负责人 John Lancaster-Lennox 评论道：本次试验是诺基亚致力于可持续发展和应对气候变化的又一个里程碑，我司是首家提出这种改变游戏规则的水冷解决方案的供应商。若运营商有意对环境负起更多的责任，这套解决方案不仅能够为其提供技术支撑，还可帮助他们显著降低运营成本。据悉，除了气候效益，诺基亚水冷 AirScale 基站解决方案还几乎不需要维护。即使在有人居住的建筑物附近设置，也能够几乎静音地运行。相比之下，传统基于风冷散热的解决方案，不仅噪声非常扰民、还需要费心费力地定期维护。最后，KDDI 还在尝试利用 Nokia AVA for Energy Efficiency 方案来进一步提升能源效率。在 AI 加持下，它能够更加可持续地利用能源，帮助减少高达 20% 的能源开销。新浪微博 QQ空间 腾讯微博 QQ好友 微信 豆瓣网 有道云笔记 百度贴吧 Linkedin","news_type":1},"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187207605,"gmtCreate":1623754343507,"gmtModify":1704210593292,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187207605","repostId":"187981560","repostType":1,"repost":{"id":187981560,"gmtCreate":1623734692650,"gmtModify":1704209953333,"author":{"id":"3582799054405082","authorId":"3582799054405082","name":"投資貓","avatar":"https://static.tigerbbs.com/46647c8d42230894080f8281c4158299","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/NOK\">$諾基亞(NOK)$</a>[比心]&nbsp;","text":"$諾基亞(NOK)$[比心]","images":[{"img":"https://static.tigerbbs.com/efe3792c60b7a746f0fec119f2b730d1","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187981560","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187202988,"gmtCreate":1623754262544,"gmtModify":1704210588765,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187202988","repostId":"1119444358","repostType":4,"repost":{"id":"1119444358","pubTimestamp":1623730397,"share":"https://www.laohu8.com/m/news/1119444358?lang=&edition=full","pubTime":"2021-06-15 12:13","market":"us","language":"zh","title":"2万亿期权周五到期，年内第二个“四巫日”太可怕？","url":"https://stock-news.laohu8.com/highlight/detail?id=1119444358","media":"美港电讯","summary":"美股这样的平静日子很可能在本周五就画上句号。","content":"<p>周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。</p>\n<p><img src=\"https://static.tigerbbs.com/1c682edd73777792c9069a8b0727620e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>金融博客零对冲撰文指出，<u><b>美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。</b></u></p>\n<p>高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400亿美元的标普500指数ETF期权，2000亿美元的迷你标普500指数期货以及1.8万亿美元的标普500指数期权。</p>\n<p><img src=\"https://static.tigerbbs.com/54db6f13be487dd09e44c260bc5440db\" tg-width=\"894\" tg-height=\"713\" referrerpolicy=\"no-referrer\"></p>\n<p>值得注意的是，执行价格接近标的资产价格的期权数量创下10年来最低，由于近期美股一直处于高位，预计大部分6月未平仓合约价格都低于当前的股指现货价格。如下图所示，行权价在3900和4150附近期权分布密集。这意味着在本周五之后，这些点周围可能会有一定的支撑，直到被新的gamma重新填充。</p>\n<p><img src=\"https://static.tigerbbs.com/a85d6a35c0b893247b3b9095f4400b15\" tg-width=\"1139\" tg-height=\"658\" referrerpolicy=\"no-referrer\"></p>\n<p>此外，据高盛估计，折式合成期权（combos）占标普500指数期权规模的15-20%，即调整后的未平仓合约总额将达到1.5万亿美元，仍远大于即将到期的单一股票期权的未平仓合约总额（7750亿美元）。</p>\n<p><b><u>这个“四巫日”之所以特别，一个重要原因是此前大盘波动率实在低得异常。</u></b>高盛策略师指出标普500指数过去13个交易日的波动率仅为5.1%，这是自2019年以来最低。</p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>这一幕和1997年8月相似，当时标普500指数不断续刷新高，与此同时VIX指数却处于新低。</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>大盘波动率极低，但诡异的是，个股却频频上演极端波动，例如AMC——虽然AMC上周名义成交量仅70亿美元/天，远低于亚马逊的1200亿美元/天，且远低于第一季度的峰值，但在所有个股中其合约成交量最高，期间可实现的成交量接近400%。</p>\n<p>分析指出，散户驱动了所有个股期权活动的很大比例，近期个股期权活动的增长主要集中在低价股票上，导致过去两周合约交易量的份额与名义交易量不匹配。</p>\n<p>目前美股的多头伽玛头寸规模依然高企，野村证券的Charlie McElligott指出，<b><u>极低的大盘实际波动率与大量看涨gamma期权到期的情况是危险的，即一旦头寸集体平仓，实际波动率可能会瞬间回升</u></b>。同时，VIX指数期货相对于标普500指数Beta值不断上升，这表明，如果市场出现抛售，空头gamma仓位会回升，市场将变得更加不稳定。</p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>高盛还指出，临近周五“四巫日”，美股期权交易量正在下降，这个反常现象出现主要是因为每周到期的短期期权正在变得火热，尤其是大受散户投资者欢迎。事实上，第三个周五到期的标普500指数期权交易量百分比处于历史最低点，甚至小于每周一和周三到期期权交易量的百分比。</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>超短期期权交易量增加的一个解释是散户对部分个股的热潮。高盛指出：</p>\n<blockquote>\n “如果做市商无法覆盖散户投资者看涨买入产生的短期gamma，他们可能会积极买入多头头寸，以抵消伽玛效应。”\n</blockquote>\n<p>零对冲警告，一旦这个趋势变得普遍，大盘可能会面临剧烈波动。</p>","source":"live_meigang","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2万亿期权周五到期，年内第二个“四巫日”太可怕？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2万亿期权周五到期，年内第二个“四巫日”太可怕？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 12:13 北京时间&nbsp;&nbsp;&nbsp;<a href=https://news.ushknews.com/mobile/details.html?id=1003226><strong>美港电讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。\n\n金融博客零对冲撰文指出，美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。\n高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400...</p>\n\n<a href=\"https://news.ushknews.com/mobile/details.html?id=1003226\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/32f76f2b955be371110b877bebef37ba","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://news.ushknews.com/mobile/details.html?id=1003226","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119444358","content_text":"周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。\n\n金融博客零对冲撰文指出，美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。\n高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400亿美元的标普500指数ETF期权，2000亿美元的迷你标普500指数期货以及1.8万亿美元的标普500指数期权。\n\n值得注意的是，执行价格接近标的资产价格的期权数量创下10年来最低，由于近期美股一直处于高位，预计大部分6月未平仓合约价格都低于当前的股指现货价格。如下图所示，行权价在3900和4150附近期权分布密集。这意味着在本周五之后，这些点周围可能会有一定的支撑，直到被新的gamma重新填充。\n\n此外，据高盛估计，折式合成期权（combos）占标普500指数期权规模的15-20%，即调整后的未平仓合约总额将达到1.5万亿美元，仍远大于即将到期的单一股票期权的未平仓合约总额（7750亿美元）。\n这个“四巫日”之所以特别，一个重要原因是此前大盘波动率实在低得异常。高盛策略师指出标普500指数过去13个交易日的波动率仅为5.1%，这是自2019年以来最低。\n\n这一幕和1997年8月相似，当时标普500指数不断续刷新高，与此同时VIX指数却处于新低。\n\n大盘波动率极低，但诡异的是，个股却频频上演极端波动，例如AMC——虽然AMC上周名义成交量仅70亿美元/天，远低于亚马逊的1200亿美元/天，且远低于第一季度的峰值，但在所有个股中其合约成交量最高，期间可实现的成交量接近400%。\n分析指出，散户驱动了所有个股期权活动的很大比例，近期个股期权活动的增长主要集中在低价股票上，导致过去两周合约交易量的份额与名义交易量不匹配。\n目前美股的多头伽玛头寸规模依然高企，野村证券的Charlie McElligott指出，极低的大盘实际波动率与大量看涨gamma期权到期的情况是危险的，即一旦头寸集体平仓，实际波动率可能会瞬间回升。同时，VIX指数期货相对于标普500指数Beta值不断上升，这表明，如果市场出现抛售，空头gamma仓位会回升，市场将变得更加不稳定。\n\n高盛还指出，临近周五“四巫日”，美股期权交易量正在下降，这个反常现象出现主要是因为每周到期的短期期权正在变得火热，尤其是大受散户投资者欢迎。事实上，第三个周五到期的标普500指数期权交易量百分比处于历史最低点，甚至小于每周一和周三到期期权交易量的百分比。\n\n超短期期权交易量增加的一个解释是散户对部分个股的热潮。高盛指出：\n\n “如果做市商无法覆盖散户投资者看涨买入产生的短期gamma，他们可能会积极买入多头头寸，以抵消伽玛效应。”\n\n零对冲警告，一旦这个趋势变得普遍，大盘可能会面临剧烈波动。","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107656108,"gmtCreate":1620485444604,"gmtModify":1704344290892,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"??????","listText":"??????","text":"??????","images":[{"img":"https://static.tigerbbs.com/b1ddd503cb1697fbee444770af15993c","width":"1080","height":"2037"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107656108","isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":126319892,"gmtCreate":1624544233616,"gmtModify":1703839949585,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/126319892","repostId":"1180116198","repostType":4,"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121128335,"gmtCreate":1624457097927,"gmtModify":1703837304019,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/121128335","repostId":"1146565871","repostType":4,"repost":{"id":"1146565871","pubTimestamp":1624455991,"share":"https://www.laohu8.com/m/news/1146565871?lang=&edition=full","pubTime":"2021-06-23 21:46","market":"us","language":"zh","title":"美国6月Markit制造业PMI创纪录，服务业PMI不及预期","url":"https://stock-news.laohu8.com/highlight/detail?id=1146565871","media":"华尔街见闻","summary":"美国6月Markit制造业PMI初值62.6，高于预期的61.5以及前值62.1。","content":"<p>金融数据供应商IHS&nbsp;<a href=\"https://laohu8.com/S/MRKT\">Markit</a>周三公布了美国6月的制造业和服务业PMI数据，其中制造业PMI初值高于预期，创2007年有纪录以来新高，同期公布的服务业PMI初值不及预期，有所下滑，但仍处于历史高位。</p>\n<p>根据数据，美国6月Markit制造业PMI初值62.6，高于预期的61.5以及前值62.1，创下2007年有纪录以来的最高水平。</p>\n<p><img src=\"https://static.tigerbbs.com/2ef76bb72997ac135dfb8e759ab6d349\" tg-width=\"640\" tg-height=\"330\" referrerpolicy=\"no-referrer\"></p>\n<p>同期公布的Markit美国服务业PMI指数6月初值录得64.8，不及预期的70和5月前值70.4，不过仍处于较高水平。</p>\n<p><img src=\"https://static.tigerbbs.com/6c905d7c20d8a9a5d235949b994e86ac\" tg-width=\"640\" tg-height=\"334\" referrerpolicy=\"no-referrer\"></p>\n<p>在服务业数据的影响之下，Markit美国综合PMI的6月初值录得63.9，较5月的68.7明显下降。</p>\n<p><img src=\"https://static.tigerbbs.com/1a3fe8e2812d33165ecf56ccc7bb4f43\" tg-width=\"640\" tg-height=\"330\" referrerpolicy=\"no-referrer\"></p>\n<p>对于本月的经济状况，IHS Markit在数据报告当中指出，就业问题在6月仍然很普遍，因为有专家表示，目前仍难以为现有职位空缺寻找有经验的应聘者。此外，6月份的价格压力仍然维持高位。投入品价格上涨速度略有放缓，但仍是历史上第二快。制造业的关注点仍在于原材料和燃料成本的快速增长，而服务业的关注点则是为吸引工人而提出的的高工资，以及更高的运输费用和燃料成本。</p>\n<p>IHS Markit的首席商业经济学家Chris Williamson在数据公布之后表示，6月的PMI初值表明，美国经济当月取得了令人印象深刻的增长。虽然制造业和服务业的产出增长和新订单流入都出现了回落，但出现这种状况的原因是产能受限使得企业应对需求的能力受到限制，而非经济出现降温。</p>\n<p>不过他也表示，虽然价格水平从5月的历史高位出现下滑，但经济目前仍然非常热。商品和服务的价格仍在急升，创纪录的供应短缺正在恶化而非出现改善，企业正在努力填补空缺，而制造业库存的消耗速度也令人担忧，因为企业正在努力满足市场需求。</p>\n<p>此外Chris Williamson还指出，虽然二季度的经济增速或将触及峰值，但后续的通胀峰值则可能远高于此。</p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美国6月Markit制造业PMI创纪录，服务业PMI不及预期</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美国6月Markit制造业PMI创纪录，服务业PMI不及预期\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 21:46 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3633694><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>金融数据供应商IHS Markit周三公布了美国6月的制造业和服务业PMI数据，其中制造业PMI初值高于预期，创2007年有纪录以来新高，同期公布的服务业PMI初值不及预期，有所下滑，但仍处于历史高位。\n根据数据，美国6月Markit制造业PMI初值62.6，高于预期的61.5以及前值62.1，创下2007年有纪录以来的最高水平。\n\n同期公布的Markit美国服务业PMI指数6月初值录得64.8，...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3633694\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/135fb5b6f21d9ee05edcb64a0736f62f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3633694","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1146565871","content_text":"金融数据供应商IHS Markit周三公布了美国6月的制造业和服务业PMI数据，其中制造业PMI初值高于预期，创2007年有纪录以来新高，同期公布的服务业PMI初值不及预期，有所下滑，但仍处于历史高位。\n根据数据，美国6月Markit制造业PMI初值62.6，高于预期的61.5以及前值62.1，创下2007年有纪录以来的最高水平。\n\n同期公布的Markit美国服务业PMI指数6月初值录得64.8，不及预期的70和5月前值70.4，不过仍处于较高水平。\n\n在服务业数据的影响之下，Markit美国综合PMI的6月初值录得63.9，较5月的68.7明显下降。\n\n对于本月的经济状况，IHS Markit在数据报告当中指出，就业问题在6月仍然很普遍，因为有专家表示，目前仍难以为现有职位空缺寻找有经验的应聘者。此外，6月份的价格压力仍然维持高位。投入品价格上涨速度略有放缓，但仍是历史上第二快。制造业的关注点仍在于原材料和燃料成本的快速增长，而服务业的关注点则是为吸引工人而提出的的高工资，以及更高的运输费用和燃料成本。\nIHS Markit的首席商业经济学家Chris Williamson在数据公布之后表示，6月的PMI初值表明，美国经济当月取得了令人印象深刻的增长。虽然制造业和服务业的产出增长和新订单流入都出现了回落，但出现这种状况的原因是产能受限使得企业应对需求的能力受到限制，而非经济出现降温。\n不过他也表示，虽然价格水平从5月的历史高位出现下滑，但经济目前仍然非常热。商品和服务的价格仍在急升，创纪录的供应短缺正在恶化而非出现改善，企业正在努力填补空缺，而制造业库存的消耗速度也令人担忧，因为企业正在努力满足市场需求。\n此外Chris Williamson还指出，虽然二季度的经济增速或将触及峰值，但后续的通胀峰值则可能远高于此。","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187202988,"gmtCreate":1623754262544,"gmtModify":1704210588765,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187202988","repostId":"1119444358","repostType":4,"repost":{"id":"1119444358","pubTimestamp":1623730397,"share":"https://www.laohu8.com/m/news/1119444358?lang=&edition=full","pubTime":"2021-06-15 12:13","market":"us","language":"zh","title":"2万亿期权周五到期，年内第二个“四巫日”太可怕？","url":"https://stock-news.laohu8.com/highlight/detail?id=1119444358","media":"美港电讯","summary":"美股这样的平静日子很可能在本周五就画上句号。","content":"<p>周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。</p>\n<p><img src=\"https://static.tigerbbs.com/1c682edd73777792c9069a8b0727620e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>金融博客零对冲撰文指出，<u><b>美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。</b></u></p>\n<p>高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400亿美元的标普500指数ETF期权，2000亿美元的迷你标普500指数期货以及1.8万亿美元的标普500指数期权。</p>\n<p><img src=\"https://static.tigerbbs.com/54db6f13be487dd09e44c260bc5440db\" tg-width=\"894\" tg-height=\"713\" referrerpolicy=\"no-referrer\"></p>\n<p>值得注意的是，执行价格接近标的资产价格的期权数量创下10年来最低，由于近期美股一直处于高位，预计大部分6月未平仓合约价格都低于当前的股指现货价格。如下图所示，行权价在3900和4150附近期权分布密集。这意味着在本周五之后，这些点周围可能会有一定的支撑，直到被新的gamma重新填充。</p>\n<p><img src=\"https://static.tigerbbs.com/a85d6a35c0b893247b3b9095f4400b15\" tg-width=\"1139\" tg-height=\"658\" referrerpolicy=\"no-referrer\"></p>\n<p>此外，据高盛估计，折式合成期权（combos）占标普500指数期权规模的15-20%，即调整后的未平仓合约总额将达到1.5万亿美元，仍远大于即将到期的单一股票期权的未平仓合约总额（7750亿美元）。</p>\n<p><b><u>这个“四巫日”之所以特别，一个重要原因是此前大盘波动率实在低得异常。</u></b>高盛策略师指出标普500指数过去13个交易日的波动率仅为5.1%，这是自2019年以来最低。</p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>这一幕和1997年8月相似，当时标普500指数不断续刷新高，与此同时VIX指数却处于新低。</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>大盘波动率极低，但诡异的是，个股却频频上演极端波动，例如AMC——虽然AMC上周名义成交量仅70亿美元/天，远低于亚马逊的1200亿美元/天，且远低于第一季度的峰值，但在所有个股中其合约成交量最高，期间可实现的成交量接近400%。</p>\n<p>分析指出，散户驱动了所有个股期权活动的很大比例，近期个股期权活动的增长主要集中在低价股票上，导致过去两周合约交易量的份额与名义交易量不匹配。</p>\n<p>目前美股的多头伽玛头寸规模依然高企，野村证券的Charlie McElligott指出，<b><u>极低的大盘实际波动率与大量看涨gamma期权到期的情况是危险的，即一旦头寸集体平仓，实际波动率可能会瞬间回升</u></b>。同时，VIX指数期货相对于标普500指数Beta值不断上升，这表明，如果市场出现抛售，空头gamma仓位会回升，市场将变得更加不稳定。</p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>高盛还指出，临近周五“四巫日”，美股期权交易量正在下降，这个反常现象出现主要是因为每周到期的短期期权正在变得火热，尤其是大受散户投资者欢迎。事实上，第三个周五到期的标普500指数期权交易量百分比处于历史最低点，甚至小于每周一和周三到期期权交易量的百分比。</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>超短期期权交易量增加的一个解释是散户对部分个股的热潮。高盛指出：</p>\n<blockquote>\n “如果做市商无法覆盖散户投资者看涨买入产生的短期gamma，他们可能会积极买入多头头寸，以抵消伽玛效应。”\n</blockquote>\n<p>零对冲警告，一旦这个趋势变得普遍，大盘可能会面临剧烈波动。</p>","source":"live_meigang","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2万亿期权周五到期，年内第二个“四巫日”太可怕？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2万亿期权周五到期，年内第二个“四巫日”太可怕？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 12:13 北京时间&nbsp;&nbsp;&nbsp;<a href=https://news.ushknews.com/mobile/details.html?id=1003226><strong>美港电讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。\n\n金融博客零对冲撰文指出，美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。\n高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400...</p>\n\n<a href=\"https://news.ushknews.com/mobile/details.html?id=1003226\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/32f76f2b955be371110b877bebef37ba","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://news.ushknews.com/mobile/details.html?id=1003226","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119444358","content_text":"周一，纳指、标普500指数再创历史新高；与此同时，衡量标普500指数波动性的VIX指数近日持续走低，目前已经触及去年疫情爆发以来的最低水平。\n\n金融博客零对冲撰文指出，美股这样的平静日子很可能在本周五就画上句号，这是年内第二个“四巫日”，届时大量美股期权将同时到期。\n高盛的内部衍生品专家Rocky Fishman预测6月即将到期的期权规模和之前一样巨大，具体而言，本周五到期的期权包括：价值2400亿美元的标普500指数ETF期权，2000亿美元的迷你标普500指数期货以及1.8万亿美元的标普500指数期权。\n\n值得注意的是，执行价格接近标的资产价格的期权数量创下10年来最低，由于近期美股一直处于高位，预计大部分6月未平仓合约价格都低于当前的股指现货价格。如下图所示，行权价在3900和4150附近期权分布密集。这意味着在本周五之后，这些点周围可能会有一定的支撑，直到被新的gamma重新填充。\n\n此外，据高盛估计，折式合成期权（combos）占标普500指数期权规模的15-20%，即调整后的未平仓合约总额将达到1.5万亿美元，仍远大于即将到期的单一股票期权的未平仓合约总额（7750亿美元）。\n这个“四巫日”之所以特别，一个重要原因是此前大盘波动率实在低得异常。高盛策略师指出标普500指数过去13个交易日的波动率仅为5.1%，这是自2019年以来最低。\n\n这一幕和1997年8月相似，当时标普500指数不断续刷新高，与此同时VIX指数却处于新低。\n\n大盘波动率极低，但诡异的是，个股却频频上演极端波动，例如AMC——虽然AMC上周名义成交量仅70亿美元/天，远低于亚马逊的1200亿美元/天，且远低于第一季度的峰值，但在所有个股中其合约成交量最高，期间可实现的成交量接近400%。\n分析指出，散户驱动了所有个股期权活动的很大比例，近期个股期权活动的增长主要集中在低价股票上，导致过去两周合约交易量的份额与名义交易量不匹配。\n目前美股的多头伽玛头寸规模依然高企，野村证券的Charlie McElligott指出，极低的大盘实际波动率与大量看涨gamma期权到期的情况是危险的，即一旦头寸集体平仓，实际波动率可能会瞬间回升。同时，VIX指数期货相对于标普500指数Beta值不断上升，这表明，如果市场出现抛售，空头gamma仓位会回升，市场将变得更加不稳定。\n\n高盛还指出，临近周五“四巫日”，美股期权交易量正在下降，这个反常现象出现主要是因为每周到期的短期期权正在变得火热，尤其是大受散户投资者欢迎。事实上，第三个周五到期的标普500指数期权交易量百分比处于历史最低点，甚至小于每周一和周三到期期权交易量的百分比。\n\n超短期期权交易量增加的一个解释是散户对部分个股的热潮。高盛指出：\n\n “如果做市商无法覆盖散户投资者看涨买入产生的短期gamma，他们可能会积极买入多头头寸，以抵消伽玛效应。”\n\n零对冲警告，一旦这个趋势变得普遍，大盘可能会面临剧烈波动。","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165355507,"gmtCreate":1624099700509,"gmtModify":1703828800942,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/165355507","repostId":"2144708195","repostType":2,"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187207605,"gmtCreate":1623754343507,"gmtModify":1704210593292,"author":{"id":"3582797481756203","authorId":"3582797481756203","name":"ken3299","avatar":"https://static.tigerbbs.com/dd33003e331d266e11cff7065c628db7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187207605","repostId":"187981560","repostType":1,"repost":{"id":187981560,"gmtCreate":1623734692650,"gmtModify":1704209953333,"author":{"id":"3582799054405082","authorId":"3582799054405082","name":"投資貓","avatar":"https://static.tigerbbs.com/46647c8d42230894080f8281c4158299","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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