大宗商品期权市场及其在企业价格风险管理中的应用

大宗商品期权市场及其在企业价格风险管理中的应用内容摘要：

全拿到 不用 或只付少量现金 上涨 潜在收益拿一部分 风险有限 不用 付现金 上涨 潜在收益全没有 下跌 风险全保住 不用 付现金 锁定 比市场好一些的掉期 市场 变化大时也许失掉保护。 或部分风险保不住 收 现金 下跌 风险保不住 上涨 潜在收益没有 以 为生产商保值为例 可以看出，期权在从最保守的保证到最“进取”的保值方案中都有运用，它是衍生品市场的重要部分。 如同所有衍生品工具，对于企业来说，他的用途是规避风险，但不合理的运用也会给企业带来不必要的风险。 Disclaimer This material was produced by a marketing function within the BNP Paribas Group (being BNP Paribas together with its consolidated subsidiaries). Information in this document is intended to provide only a general outline of the subjects covered. It should neither be regarded as prehensive nor sufficient for making decisions, nor should it be used in place of professional advice. All estimates and opinions included in this report constitute our judgments as of the date of this publication. No branch or subsidiary within the BNP Paribas Group accepts any liability whatsoever for any direct or consequential loss arising from any use of material contained in this publication. BNP Paribas, may to the extent permitted by law, have acted upon or used the information contained herein, or the analysis on which it was based, before its publication. This document is for the use of intended recipients and may not be reproduced (in whole or in part) or delivered or transmitted to any other person without the prior written consent of BNP Paribas. By accepting this document you agree to be bound by the foregoing limitations. Financial transactions involve risks of variation in interest rates, exchange rates, securities, modities or indices. In view of these risks, BNP Paribas’ clients should have the requisite knowledge and experience to assess the characteristics and risks associated with each contemplated transaction. BNP Paribas will provide any additional information, reasonably requested by the client, in order t。