derivatives -future,forward,options
TRANSCRIPT
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7/23/2019 derivatives -future,forward,options
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MKTC^I]C^KV
I ncaiafcij cav}t{`ka} xbgvk fbitif}ktcv}cfv iam ~ij{k mkukam {uga }bk fbitif}ktcv}cfv iam
~ij{k gn ia {amktjckt* }sucfijjs i fg``gmc}s* dgam* ky{c}s gt f{ttkafs! Kri`ujkv gn
mktc~i}c~kv cafj{mk n{}{tkv iam gu}cgav k}f Im~iafkm ca~kv}gtv vg`k}c`kv u{tfbivk gt vkjjmktc~i}c~kv }g `iaihk }bk tcvl ivvgfci}km xc}b }bk {amktjscah vkf{tc}s* }g utg}kf} ihicav}
nj{f}{i}cgav ca ~ij{k* gt }g utgnc} ntg` uktcgmv gn caif}c~c}s gt mkfjcak! ]bkvk }kfbacy{kv fia
dk y{c}k fg`ujcfi}km iam y{c}k tcvls!
]bk mktc~i}c~k c}vkjn cv `ktkjs i fga}tif} dk}xkka }xg gt `gtk uit}ckv! C}v ~ij{k cv
mk}kt`cakm ds nj{f}{i}cgav ca }bk {amktjscah ivvk}! ]bk `gv} fg``ga {amktjscah ivvk}v
cafj{mk v}gflv* dgamv* fg``gmc}ckv* f{ttkafckv* ca}ktkv} ti}kv iam `itlk} camkrkv! @gv}
mktc~i}c~kv itk fbitif}ktczkm ds bchb jk~ktihk! ]bks itk lagxa }g dk }bk `gv} fg`ujcfi}km
cav}t{`ka}v ca }bk ka}ctk ncaiafcij `itlk}! Vg`k gn }bk ca~kv}gtv ncam }bk` tchb} cav}t{`ka}v
ngt tcvl `iaihk`ka}* xbcfb caftkivkv jcy{cmc}s! Bgxk~kt* }bks itk kr}tk`kjs c`ugt}ia} iam
bi~k b{hk knnkf}v ga ncaiafcij `itlk}v iam }bk kfgag`s !
Agx * xk `ilk }bk fg`uitcvga dk}xkka ngtxitmv * n{}{tkv . gu}cgav!
MCNNKTKAFK DK]XKKA NGTXITMV . N[][TKV . GU]CGAV
NGTXITMV N[][TKV GU]CGAV
@kiacah I ngtxitm fga}tif}
cv ia ihtkk`ka}
dk}xkka }xg uit}ckv
}g d{s gt vkjj ia
ivvk} "xbcfb fia dk
gn ias lcam# i} i
utk-ihtkkm n{}{tkugca} ca }c`k!
]bk `kiacah gn n{}{tkv
cv v{``itczkm iv }bk
fga}tif} `imk ds }xg
mcnnktka} uit}ckv kc}bkt
}g u{tfbivk gt vkjj
utgm{f}v i} i n{}{tk
uktcgm xbktk }bk utcfkvitk utk-mk}kt`cakm!
]bk `kiacah gn gu}cgav
cv }bk tchb} xc}bg{} }bk
gdjchi}cga }g u{tfbivk
iam vkjj {amktjcacah
ivvk}v! Fijj gu}cga
v}iamv ngt }bk tchb}
xc}bg{} gdjchi}cga }ggajs d{s }bk {amktjcacah
ivvk} iam }bk u{tfbivkt
`is tkn{vk }bk fga}tif}
utcgt }g c}v `i}{tc}s! U{}
gu}cga `kiav }bk
guugvc}k gn fijj gu}cga!
http://www.investorwords.com/1951/financial_instrument.htmlhttp://www.businessdictionary.com/definition/characteristic.htmlhttp://www.investorwords.com/5209/value.htmlhttp://www.investorwords.com/5124/underlier.htmlhttp://www.investorwords.com/975/commodity.htmlhttp://www.investorwords.com/521/bond.htmlhttp://www.investorwords.com/1726/equity.htmlhttp://www.investorwords.com/1240/currency.htmlhttp://www.investorwords.com/2134/futures.htmlhttp://www.investorwords.com/3477/option.htmlhttp://www.investorwords.com/2630/investor.htmlhttp://www.investorwords.com/3952/purchase.htmlhttp://www.investorwords.com/4467/sell.htmlhttp://www.businessdictionary.com/definition/manage.htmlhttp://www.investorwords.com/4292/risk.htmlhttp://www.businessdictionary.com/definition/associated.htmlhttp://www.investorwords.com/5836/underlying_security.htmlhttp://www.investorwords.com/10738/protect.htmlhttp://www.investorwords.com/8787/against.htmlhttp://www.businessdictionary.com/definition/fluctuation.htmlhttp://www.investorwords.com/3880/profit.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.investorwords.com/1335/decline.htmlhttp://www.businessdictionary.com/definition/technique.htmlhttp://www.investorwords.com/10937/risky.htmlhttp://www.investorwords.com/10937/risky.htmlhttp://www.businessdictionary.com/definition/technique.htmlhttp://www.investorwords.com/1335/decline.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.investorwords.com/3880/profit.htmlhttp://www.businessdictionary.com/definition/fluctuation.htmlhttp://www.investorwords.com/8787/against.htmlhttp://www.investorwords.com/10738/protect.htmlhttp://www.investorwords.com/5836/underlying_security.htmlhttp://www.businessdictionary.com/definition/associated.htmlhttp://www.investorwords.com/4292/risk.htmlhttp://www.businessdictionary.com/definition/manage.htmlhttp://www.investorwords.com/4467/sell.htmlhttp://www.investorwords.com/3952/purchase.htmlhttp://www.investorwords.com/2630/investor.htmlhttp://www.investorwords.com/3477/option.htmlhttp://www.investorwords.com/2134/futures.htmlhttp://www.investorwords.com/1240/currency.htmlhttp://www.investorwords.com/1726/equity.htmlhttp://www.investorwords.com/521/bond.htmlhttp://www.investorwords.com/975/commodity.htmlhttp://www.investorwords.com/5124/underlier.htmlhttp://www.investorwords.com/5209/value.htmlhttp://www.businessdictionary.com/definition/characteristic.htmlhttp://www.investorwords.com/1951/financial_instrument.html -
7/23/2019 derivatives -future,forward,options
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Fga}tif} xc}b
uit}ckv
Ca Ngtxitmv* }bktk
cv v}cjj ia
ihtkk`ka} xc}b
ji}kt mi}k dk}xkka
}bk uit}ckv* xbktk
}bkfg`uias'camc~cm{ij
xcjj d{s i} i
vukfcncf utcfk! ]bk
lks mcnnktkafk
dk}xkka }bk
fga}tif}v* cv }bi} i
ngtxitmv fga}tif}
fiaag} dk }timkm ga
}bk divcv gn ia
krfbiahk! ]bcv
`kiav }bi} fivbi`g{a}v itk ag}
vk}}jkm ngt iffg{a}v
ga i micjs divcv
Ca }bk n{}{tk fga}tif}*
dg}b }bk uit}ckv itk
kahihkm ca i fga}tif}
xc}b gdjchi}cga }g
u{tfbivk gt vkjj }bk
ivvk} i} i uit}cf{jitutcfk ga }bk mis gn
vk}}jk`ka}! ]bcv cv i
tcvls utgugvc}cga ngt
dg}b }bk uit}ckv!
Ca fivk gn }bk gu}cga
fga}tif}* }bk d{skt biv
}bk tchb} xc}bg{} ias
gdjchi}cga }g u{tfbivk
gt vkjj }bk {amktjscah
ivvk}! Xc}b }bcv lcam gn}timcah* }bk u{tfbivktv
tcvl dkfg`kv jc`c}km }g
}bk uis`ka} gn utk`c{`
d{} }bk utgvukf}c~k
utgnc} cv {ajc`c}km!
Uis`ka} Uis`ka} cv utk-
mk}kt`cakm i`g{a}*
i} i utkmk}kt`cakm
ti}k gt mi}k! C} mgkv
ag} ca~gj~k FIVB
NJGX m{tcah }bk
fga}tif} dk}xkka
}bk uit}ckv!
]bk ca~kv}gt cv idjk }g
kahihk ca n{}{tk
fga}tif} xc}bg{} ias
im~iafk krukamc}{tk!
N{}{tkv akkm ag
im~iafk uis`ka}!
Ca }bk gu}cgav fivk* c}
tky{ctkv }bk uis`ka} gn
i utk`c{` }g dk `imk!
]bcv immc}cgaij fbithk cv
uicm }g hk} tkjckn ntg`
}bk gdjchi}cgav }g
u{tfbivk {amktjscah
ivvk}v ca fivk gn
akhi}c~k vbcn} ca utcfkv
gn ivvk}v! ]bk gajs jgvv
xg{jm dk ca }bk vbiuk gn
utk`c{` xbka }bk
}tiavif}cga cv `imk
}bg{hb gu}cga iam bkafk
}bk tcvl tk`icav jc`c}km
xc}bca }bk uis`ka} gnutk`c{`! Gu}cgav bi~k}bk im~iafk uis`ka}
vsv}k` gn utk`c{`v!
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Fgafku} gn hica ]bk hica ca }bk
gu}cga }timcah fia
dk gd}icakm ca
fkt}ica mcnnktka}
`iaaktv!
]bk hica ca }bk n{}{tk
}timcah cv i{}g`i}cfijjs
jcalkm }g }bk micjs
nj{f}{i}cgav ca }bk
`itlk}!
]bk hica ca }bk gu}cga
}timcah fia dk gd}icakm
ca fkt}ica mcnnktka}
`iaaktv!
Utcfk
mk}kt`cai}cga
Utcfk cv utk-
mk}kt`cakm
dk}xkka }bk }xg
uit}ckv!
I n{}{tk cv i fga}tif}
xbcfb cv hg~ktakm ds i
utk-mk}kt`cakm utcfk ngt
vkjjcah iam d{scah i} i
n{}{tk uktcgm!
Ca gu}cgav* }bktk cv }bk
tchb} }g vkjj gt u{tfbivk
gn {amktjscah ivvk}v
xc}bg{} ias gdjchi}cga!
Tcvl Bchb tcvl I n{}{tk }timcah biv
guka tcvl!
]bk tcvl ca gu}cga cv
jc`c}km!
Fga}tif} Vczk Mkukamcah ga }bk
}tiavif}cga iam }bk
tky{ctk`ka}v gn }bk
fga}tif}cah uit}ckv!
V}iamitmczkm V}iamitmczkm
Kructs Mi}k Mkukamcah ga }bk
}tiavif}cga
V}iamitmczkm V}iamitmczkm! I`ktcfia
v}sjk gu}cgav fia dk
krktfcvkm i} ias }c`k!
K{tgukia v}sjk gu}cgav
fia gajs dk krktfcvkm i}
kructs!
]tiavif}cga
@k}bgm
Akhg}ci}km mctkf}js
ds }bk d{skt iam
vkjjkt!
Y{g}km iam }timkm ga
}bk Krfbiahk
Y{g}km iam }timkm ga
}bk Krfbiahk
Cav}c}{}cgaij
H{itia}kk
]bk fga}tif}cah
uit}ckv
Fjkitcah Bg{vk Fjkitcah Bg{vk
@itlk}
Tkh{ji}cga
Ag} tkh{ji}km Hg~kta`ka} tkh{ji}km
`itlk}
Hg~kta`ka} tkh{ji}km
`itlk}
Vk}}jk`ka} Fivb vk}}jkm! Fga}tif}v itk {v{ijjs
fjgvkm utcgt }g kructs
ds }ilcah i
fg`ukavi}cah ugvc}cga!
I} kructs fga}tif}v fia
dk fivb vk}}jkm gt vk}}jkm
ds mkjc~kts gn }bk
{amktjscah!
Xbka i jgah ugvc}cga cv
krktfcvkm c} `is dk
vk}}jkm ds mkjc~kts gt
fivb vk}}jkm! I jgah
ugvc}cga xbcfb cv g{}-gn-
}bk-`gaks cv {v{ijjs
fiafkjjkm utcgt }g
kructs!
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