Types of options
Types of options
Key takeaways
主要外卖
There are many types of options: call options and put options, American options and European options,exchange-traded options and over-the-counter options… They are categorized based on different ways.
期权的类型很多：看涨期权和看跌期权，美式期权和欧式期权，交易所交易期权和场外期权…它们是根据不同的方式进行分类的。
Understanding types of options
了解选项类型
There are many different types of options and these can be categorized in several ways:
有许多不同类型的选项，这些选项可以按以下几种方式进行分类：
1. Based on the right they provide the holder, options can be classified into two categories: call options and put options, as known as 'calls' and 'puts'. Calls are contracts that give the owner the right to buy the underlying asset in the future at an agreed price. On the other hand, the owner of puts has the right to sell the underlying asset in the future at an agreed price.
1.根据期权提供给持有者的权利，期权可以分为两类：看涨期权和看跌期权，又称看涨期权和看跌期权。看涨期权是一种合同，赋予所有者在未来以商定的价格购买标的资产的权利。另一方面，看跌期权的所有者有权在未来以商定的价格出售标的资产。
2. Options also can be typed by different underlying assets. The most common type is stock options, in which the underlying asset is shares of a publically listed company. In addition, there are index options, ETF options, currency options, futures options, commodity options, basket options, and other types.
2.期权也可以按不同的标的资产分类。最常见的类型是股票期权，其标的资产是上市公司的股票。此外，还有指数期权、ETF期权、货币期权、期货期权、商品期权、篮子期权等类型。
3. Based on whether an option can be exercised before the expiration date, there are two types of options: American options and European options. American options can be exercised at any time before the expiration date, while European options can only be exercised on the expiration date.
3.根据期权是否可以在到期日之前行使，期权分为美式期权和欧式期权。美式期权可以在到期日之前的任何时间行使，而欧式期权只能在到期日行使。
4. Based on whether they are listed on exchanges, options can be classified into two categories: exchange-traded options and over-the-counter (OTC) options. Exchange-traded options contracts, also known as 'listed options', are listed on exchanges such as the Chicago Board Options Exchange. OTC options also called 'dealer options' are traded between two private parties, and are not listed on an exchange. An exchange-traded option is a standardized derivative contract, whereas an OTC optionmay be individually tailored to meet any business need.
4.根据是否在交易所上市，期权可以分为两类：交易所交易期权和场外交易(OTC)期权。交易所交易的期权合约，也被称为“上市期权”，在芝加哥期权交易所(Chicago Board Options Exchange)等交易所上市。场外期权(OTC Options)也被称为“交易商期权”，在两个私人交易方之间交易，并不在交易所上市。交易所交易期权是一种标准化的衍生品合约，而场外期权可以单独定制以满足任何业务需求。
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