Diterjemahkan otomatis dari aslinya · Baca versi asli (English)
Bagi mereka yang secara teratur menggunakan posisi synthetic long stock (long call / short put pada strike/expiry yang sama) dibandingkan hanya membeli LEAPS, apa pertimbangan utama Anda dalam memilih salah satu di antara keduanya? Saya menemukan efisiensi modal dari sintetik menarik tetapi profil gamma bisa lebih dinamis.
For me, it often comes down to the underlying's volatility. If it's choppier, I prefer the defined risk of LEAPS. Synthetics are great when I have a strong conviction on direction and less worried about whipsaws.
I use both, honestly. Synthetics for shorter-term directional plays where I want to maximize leverage, and LEAPS for longer-term, buy-and-hold type conviction on a stock I believe will trend up over years.
Have you considered the dividend aspect? If the stock pays a dividend, the short put leg of the synthetic can be less appealing. LEAPS avoid that altogether.
I'm with you on the capital efficiency, especially for high-priced stocks. The gamma can be a wild card, but if you're comfortable managing deltas, synthetics often win out for me.
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