Rachel2019-12-23 22:32:52

老师，请问书本82页第六题答案This situation, particularly a short squeeze, can lead to substantial losses and a suddenly unbalanced exposure if bor-rowing the underlying equity shares becomes too difficult or too costly for the arbitrageur这一段不理解？这种情形怎么产生loss不太明白？能否详细解释一下？ The convertible bond arbitrage strategy can lose money due to time decay of the convert-ible bond’s embedded call option during periods of reduced realized equity volatility and/or due to a general compression of market implied volatility levels这一段也不理解？time decay 和call option以及volatility之间怎么会lose money？ Convertible arbitrage strategies have performed best when convertible issuance is high (implying a wider choice among convertible securities as well as downward price pressure and cheaper prices这里的issuance is high指什么？括号里implying不理解是什么意思？能否详细解释一下？