题目: Bochanski cautions that covered call options are not as effective as protective put positions in protecting the portfolio against any future downturn. He comments, “Protective put positions are analogous to insurance policies.” When implementing protective put positions, Bochanski states that factors he considers are stock price and put exercise price. Upon thinking about Bochanski’s statement, Dan Smith states that he would consider time value and upfront premium. Beauregard adds that she considers stock volatility and time until expiration. Q. In comparing insurance policies to protective put positions, whose statements most likely relate to the amount of loss that the investor is willing to bear? A. Bochanski B. Smith C. Beauregard 字数超限了, 老师请refer to 下一题, 谢谢!

老师，针对图中aggressive 方式下 OCF会下降我不是很理解，我的逻辑是aggressive的方式下revenue会上升啊…这样OCF怎么会下降呢？烦请老师帮忙解答，谢谢！

如图, 谢谢!

请问equity method和acquisition method下B/S又有什么区别 后者是除了equity，asset和liability都合并。前者呢？

老师您好，图中表格里我有两点疑问：1.selling expense depreciation 在前面讲义中说要用historical currency，为什么这里使用的是average currency. 2. expense前面表格里是说要用average currency，为什么这里使用的是historical currency……烦请老师帮忙解答。

请问n=22是怎么算的，谢谢！

第三小题，答案是c，但是讲义根据annual breakeven volatility的年化计算方法应该是12/3再开根号，为什么答案没有开根号做年化？

老师好，可以解释一下衰减因子吗？面授课的时候就不明白，而网课也似乎漏讲了(˶‾᷄ ⁻̫ ‾᷅˵)，越详细越好。

collar: 为什么call 执行价＞put的？谢谢！

原版书课后题R33 25题 怎么理解at the end of 2014, it is assumed that share price will be equal to BV per share会导致TV的现值等于零？