Obvladovanje tveganj z uporabo opcij

delo diplomskega seminarja

Matjaž Mikluš (Author), Tanja Markovič-Hribernik (Mentor)

Abstract

Čeprav se je z izvedenimi finančnimi instrumenti organizirano začelo trgovati šele v 19. stoletju, je zgodovina njihovega razvoja zelo dolga in sega tudi do dva tisoč let pred našim štetjem. Njihova glavna značilnost je, da so vezani na osnovni instrument in odvisni od gibanja njegove vrednosti. Primarna naloga izvedenih finančnih instrumentov je zavarovanje pred tveganji. Širša javnost ima o izvedenih finančnih instrumentih zelo slabo mnenje, pogosto se jih omenja celo kot glavni vzrok za krize in kot orodje za špekulante, malo ljudi pa ve, da so eden ključnih instrumentov pri obvladovanju tveganj v podjetjih. Z opcijami obvladujemo predvsem tržno tveganje. Tveganja obvladujemo tako, da skušamo doseči nevtralnost mer občutljivost, ki jih označujemo z grškimi črkami. S pomočjo opcij lahko sestavimo portfelj po svoji želji in potrebah. Portfelj lahko tudi popolnoma zavarujemo pred izgubami, za kar pa bodo potrebni dodatni stroški. Zavedati se je potrebno, da se z višanjem stopnje zavarovanosti portfelja odrekamo tudi višjim potencialnim donosom. Vsak investitor lahko, po začetnem poznavanju trgovanja z opcijami in njihovega vrednotenja ter svoje preference do tveganja, ustvari portfelj po svoji meri.

Keywords

finančni trg;tveganje;obvladovanje;zavarovanje;izvedeni finančni instrumenti;opcije;

Data

Language:	Slovenian
Year of publishing:	2011
Source:	Maribor
Typology:	2.11 - Undergraduate Thesis
Organization:	UM EPF - Faculty of Economics and Business
Publisher:	[M. Mikluš]
UDC:	336.76
COBISS:	10860060
Views:	2063
Downloads:	245
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	English
Secondary title:	Risk management using options
Secondary abstract:	Although tradign with financial derivatives on regulated market did not start until 19 century, the history of derivatives is very long and goes back about 2000 years BC. Their main characteristic is that are derived from undelying and their value depends on the underlying. Their primary task is risk management. Generally people have opinion about derivatives, they are often mentioned as a prime cause for crisis and as a tool in hands of speculants, but very few people know that derivatives are one of key instruments in corporate risk management. With options we manage especially market risk. We manega risk with trying to achieve sensibility measures neutrality, for which we use greek letters to denote. With options we can combine a portfolio which meets our wishes and needs. We can insure portfolio against losses, but for that there will be additional costs needed. We have to be aware that with rising level of insurance we are giving up on higher potencial gains. Each investor can create a custom portfolio if he knows the procedure of option trading, option pricing model and his risk preference.
Secondary keywords:	Risk management;financial derivatives;options;The Greeks;portfolio insurance.;
URN:	URN:SI:UM:
Type (COBISS):	Final seminar paper
Thesis comment:	Univ. v Mariboru, Ekonomsko-poslovna fak.
Pages:	45 str.
Keywords (UDC):	social sciences;družbene vede;economics;economic science;ekonomija;ekonomske vede;finance;finance;money;monetary system;banking;stock exchanges;denar;monetarni sistem;bančništvo;borzništvo;
ID:	1015376