K\u00fcresel hisse senetleri sal\u0131 g\u00fcn\u00fc y\u00fckseldi. \u00d6ne \u00e7\u0131kanlar ABD teknoloji ve yar\u0131 iletken (\u00e7ip \u00fcreten) hisseleriydi. S&P 500 endeksi %0,8 y\u00fckseldi, k\u00fc\u00e7\u00fck \u00f6l\u00e7ekli \u015firketleri izleyen Russell 2000 %1,8 artt\u0131. Intel, Qualcomm ve Micron hisseleri %11\u201313 t\u0131rmand\u0131.<\/p>\n
Asya piyasalar\u0131 da y\u00fckseldi. G\u00fcney Kore %6, Shenzhen tatil sonras\u0131 %2,5 artt\u0131. G\u00fcney Kore, y\u0131l ba\u015f\u0131ndan bu yana %70, son 12 ayda %180 y\u00fckseldi.<\/p>\n
Avrupa hisseleri son bir ayda ABD\u2019nin gerisinde kald\u0131. Stoxx 600 %2 y\u00fckselirken S&P 500 %10 artt\u0131. Fark\u0131n temel nedeni sadece enerji fiyatlar\u0131 de\u011fil, endekslerin sekt\u00f6r da\u011f\u0131l\u0131m\u0131yd\u0131.<\/p>\n
ABD\u2019den ate\u015fkes a\u00e7\u0131klamalar\u0131n\u0131n ard\u0131ndan ekonomik d\u00f6ng\u00fcye duyarl\u0131 sekt\u00f6rler (ekonomi b\u00fcy\u00fcd\u00fc\u011f\u00fcnde daha \u00e7ok y\u00fckselen sekt\u00f6rler) ve k\u00fc\u00e7\u00fck \u015firketler de toparland\u0131. B\u00f6lgesel bankalar, temel ham maddeler ve sanayi hisseleri %1\u20132 y\u00fckseldi, Stoxx 600 %0,7 artt\u0131.<\/p>\n
Genel anlamda d\u00f6ng\u00fcsel hisseler ve k\u00fc\u00e7\u00fck \u015firketlerdeki toparlanma, y\u00fckseli\u015fin piyasaya yay\u0131ld\u0131\u011f\u0131na i\u015faret ediyor. Bu, ge\u00e7en haftaki ISM imalat raporunun beklentileri a\u015farak 51,2\u2019ye gelmesinin ard\u0131ndan ger\u00e7ekle\u015fti. ISM, ABD\u2019de imalat sekt\u00f6r\u00fcn\u00fcn nabz\u0131n\u0131 tutan bir anket endeksidir; 50\u2019nin \u00fczeri b\u00fcy\u00fcmeye i\u015faret eder. Bu tablo, sanayi taraf\u0131n\u0131n diren\u00e7li oldu\u011funu g\u00f6steriyor. Russell 2000 (IWM) veya sanayi ETF\u2019leri (XLI) \u00fczerinde al\u0131m opsiyonlar\u0131 (belirli bir fiyattan alma hakk\u0131 veren s\u00f6zle\u015fme) de\u011ferlendirilebilir; ama\u00e7, geri kalm\u0131\u015f hisselerde olas\u0131 \u201cyakalama\u201d y\u00fckseli\u015finden faydalanmakt\u0131r.<\/p>\n
ABD ile Avrupa piyasalar\u0131 aras\u0131ndaki belirgin ayr\u0131\u015fma, ikili i\u015flem (pairs trade: bir varl\u0131\u011f\u0131 al\u0131p di\u011ferini satma \u015feklinde g\u00f6reli performansa oynanan strateji) f\u0131rsat\u0131 sunuyor. Stoxx 600\u2019\u00fcn zay\u0131f kalmas\u0131, h\u0131zl\u0131 b\u00fcy\u00fcyen teknoloji hisselerinin endekste az olmas\u0131ndan kaynaklanan yap\u0131sal (k\u0131sa s\u00fcrede de\u011fi\u015fmeyen) bir durum. Y\u0131l ba\u015f\u0131ndan bu yana Nasdaq 100, Stoxx 600\u2019\u00fc yakla\u015f\u0131k 12 puan geride b\u0131rakt\u0131; bu fark\u0131n a\u00e7\u0131lmas\u0131n\u0131 bekliyoruz.<\/p>\n
2024\u2019\u00fcn sonlar\u0131nda benzer bir tablo g\u00f6r\u00fclm\u00fc\u015ft\u00fc: teknoloji hisseleri sert bir y\u00fckseli\u015fe \u00f6nc\u00fcl\u00fck etmi\u015f, ard\u0131ndan k\u0131sa bir soluklanma ya\u015fanm\u0131\u015ft\u0131. Bu y\u00fckseli\u015fin \u00e7ok h\u0131zl\u0131 olmas\u0131 nedeniyle, z\u0131mni oynakl\u0131k (opsiyon fiyatlar\u0131n\u0131n ima etti\u011fi beklenen dalgalanma) y\u00fcksek. VIX endeksi (S&P 500 i\u00e7in \u201ckorku endeksi\u201d, beklenen oynakl\u0131\u011f\u0131 g\u00f6sterir) 18\u2019in \u00fczerinde kal\u0131yor. Bu ortamda, g\u00fc\u00e7l\u00fc endekslerde para d\u0131\u015f\u0131 (out-of-the-money: mevcut fiyata g\u00f6re kullan\u0131l\u0131nca avantaj sa\u011flamayan) put spread satmak (iki farkl\u0131 kullan\u0131m fiyatl\u0131 sat\u0131\u015f opsiyonu ile risk s\u0131n\u0131rl\u0131 prim toplama stratejisi) y\u00fckseli\u015f beklentisini korurken prim geliri elde etmenin bir yolu olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Risk i\u015ftah\u0131 geri d\u00f6nd\u00fc: K\u00fcresel borsalar teknoloji ve \u00e7ip hisseleriyle y\u00fckselirken S&P 500 %0,8, Russell 2000 %1,8 artt\u0131. Avrupa geride; opsiyonda IWM\/XLI call, Nasdaq-Stoxx pairs, OTM put spread.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-46255","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=46255"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}