理解Kalshi合约的“否”方
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当你查看一份Kalshi合约时,比如关于$DEFI收盘价的合约,“否”方不仅仅是押注“是”结果的反面;你实际上是在出售这份合约。这意味着如果“否”方以0.70美元交易,你同意如果事件不发生则支付0.30美元,如果事件发生则收取0.70美元。将它视为二元看跌期权而非简单的对立面至关重要,因为你的最大损失是固定的,你的最大收益也固定为与1.00美元的差额。
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由原文自动翻译 · 阅读原文 (English)
当你查看一份Kalshi合约时,比如关于$DEFI收盘价的合约,“否”方不仅仅是押注“是”结果的反面;你实际上是在出售这份合约。这意味着如果“否”方以0.70美元交易,你同意如果事件不发生则支付0.30美元,如果事件发生则收取0.70美元。将它视为二元看跌期权而非简单的对立面至关重要,因为你的最大损失是固定的,你的最大收益也固定为与1.00美元的差额。
Your explanation of the 'No' side as selling the contract for a fixed payout is correct. I still think of it more simply as buying a 'No' share which pays out $1 if the event doesn't happen. The mechanics are the same, but the framing simplifies the mental math for some.
Ah, the old "No" side, where you're not just a pessimist, but a shrewd financier with a put option. It's a subtle distinction that's probably cost me a few hypothetical dollars thinking it was just a simple head-or-tails bet.
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