题目
Which one of the following four trading strategies limits the investor's upside potential and downside risk?
选项
A.A long position in a put combined with a long position in a stock.
B.A short position in a put combined with a short position in a stock.
C.Buying a call option on a stock with a certain strike price and selling a call option on the same stock with a higher strike price and the same expiration date.
D.Buying a call and a put with the same strike price and expiration date.
答案
C
解析
Long position in a put combined with long position in a stock could limit only the downside risk.Short position in a put combined with short position in a stock could limit only the upside risk.Buying a call option on a stock with certain strike price and selling a call option on the same stock with a higher strike price and the same expiration date could limit both the upside and downside risk.Buying a call and put with the same strike price and expiration date could limit only the downside risk.这题考查的是一种可以在价格过高和过低的时候可以起到保护的作用的一种策略，A选项只能抑制价格过低带来的风险。B选项只能抑制价格过高的风险。C选项的策略既可以抑制价格过低的风险也能抑制价格过高的风险。D选项只能抑制价格过低的风险。