Try last time (put the facts here so we are on the same page

Let's say portfolio has 100 existing APP shares.  

For APP March 07 ratio put spread:

sell 2 put 465 premium @20.8

buy 1 put 480 premium @27.7

If current price is 480, drop to 465 at expiration.

premium collected: 20.8x2-27.7 = $13.9 plus the spread earned $15, total $28.9 earned for a total of $2890.

If selling 2 put 465 only premium @20.8 

20.8x2=41.6, total $41.6 earned for a total of $4160.

$4160>$2890. Hence, selling puts earns more than the ratio put spread. 

所有跟帖： 

• you are confused about "selling 2 puts" -三心三意- ♂ (560 bytes) () 02/18/2025 postreply 15:49:07

• 举个极端的例子，即使APP掉到100，480-465（1:1）的组合任然有$15的价值，所以这个465是永远不会被买进的 -三心三意- ♂ (0 bytes) () 02/18/2025 postreply 16:00:58

• 这样的话，永远只能赚这$15 max profit. 我是在比较max profit. 也就是哪边hedge 的最大化呀 -aloevera- ♀ (91 bytes) () 02/18/2025 postreply 16:11:14

• 再给你举个极端的例子，你可以卖100 张465的Put contact，那岂不是max profit1更多？ -三心三意- ♂ (0 bytes) () 02/18/2025 postreply 16:14:54

• 因为put ratio spread 就是卖2张put呀，所以也用2 张put 在selling put only上。 -aloevera- ♀ (692 bytes) () 02/18/2025 postreply 16:36:57

• I gave up :) -三心三意- ♂ (0 bytes) () 02/18/2025 postreply 16:39:41

• Sorry for taking up so much of your time! Feel bad。 -aloevera- ♀ (0 bytes) () 02/18/2025 postreply 16:41:13

• After dinner, I relooked at your posts. I think I've got it -aloevera- ♀ (532 bytes) () 02/18/2025 postreply 20:35:20

• 要系统的学呀，这样操作太危险 -三心三意- ♂ (0 bytes) () 02/18/2025 postreply 16:15:54

• 唉，学艺不精见笑，目前先不做这个交易了。 -aloevera- ♀ (167 bytes) () 02/18/2025 postreply 16:39:39