Danske Bank\u2019\u0131n ara\u015ft\u0131rma ekibi, k\u00fcresel teknoloji hisselerinin yakla\u015f\u0131k iki ayda %50 civar\u0131nda y\u00fckselmesinin ard\u0131ndan Cuma g\u00fcnk\u00fc hisse senedi d\u00fc\u015f\u00fc\u015f\u00fcn\u00fcn ABD yar\u0131 iletkenleri ve b\u00fcy\u00fck \u00f6l\u00e7ekli teknoloji hisselerinde yo\u011funla\u015ft\u0131\u011f\u0131n\u0131 s\u00f6yledi. Banka, hareketin temel olarak \u0130ran\u2019la ilgili haber ak\u0131\u015f\u0131 ya da ABD istihdam verileri taraf\u0131ndan y\u00f6nlendirilmedi\u011fini belirtirken, man\u015fet ABD endeksleri gerilese bile d\u00fc\u015fenden \u00e7ok daha fazla sekt\u00f6r\u00fcn g\u00fcn\u00fc art\u0131da kapatt\u0131\u011f\u0131na dikkat \u00e7ekti. ABD yar\u0131 iletkenleri %8,2 d\u00fc\u015ft\u00fc; s\u00f6z konusu grup S&P 500\u2019\u00fcn yakla\u015f\u0131k %15\u2019ini olu\u015fturuyor ve bu da sat\u0131\u015f dalgas\u0131n\u0131n ne kadar dar bir alana s\u0131k\u0131\u015ft\u0131\u011f\u0131n\u0131 ortaya koyuyor.<\/p>\n
Oynakl\u0131k artarken VIX 21\u2019e \u00e7\u0131kt\u0131; Nasdaq, daha geni\u015f endeksleri a\u015fa\u011f\u0131 \u00e7ekerken k\u00fc\u00e7\u00fck \u00f6l\u00e7ekli hisseler daha iyi performans g\u00f6sterdi. Bu tablo, genel bir \u201criskten ka\u00e7\u0131\u015f\u201dtan ziyade ayr\u0131\u015fmaya i\u015faret ediyor. Petrol Cuma g\u00fcn\u00fc geriledi ve \u0130ran ba\u015fl\u0131klar\u0131 seans\u0131n ilerleyen saatlerinde geldi. Yeni haftaya girilirken ekip, Asya\u2019n\u0131n \u00f6zellikle y\u0131lba\u015f\u0131ndan bu yana getirileri teknoloji taraf\u0131ndan s\u00fcr\u00fcklenen piyasalarda sert d\u00fc\u015f\u00fc\u015fle a\u00e7\u0131ld\u0131\u011f\u0131n\u0131; Avrupa vadeli i\u015flemlerinin geriledi\u011fini; ABD vadeli i\u015flemlerinin ise \u00f6zellikle teknoloji taraf\u0131nda art\u0131da oldu\u011funu aktard\u0131. Ayr\u0131ca petrol\u00fcn %3 y\u00fckselmesinin, yapay zek\u00e2 yat\u0131r\u0131mlar\u0131na ili\u015fkin \u201cin\u015fa\/kurulum\u201d beklentilerini de\u011fi\u015ftirmeyece\u011fini ekledi.<\/p>\n
Ge\u00e7en Cuma g\u00fcnk\u00fc sert sat\u0131\u015f\u0131n, piyasa y\u00f6n\u00fcnde bir de\u011fi\u015fim de\u011fil; sa\u011fl\u0131kl\u0131 ve beklenen bir d\u00fczeltme oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. Hareket, son aylarda g\u00fc\u00e7l\u00fc bir ralli ya\u015fayan b\u00fcy\u00fck \u00f6l\u00e7ekli teknoloji hisselerinde, \u00f6zellikle de yar\u0131 iletkenlerde yo\u011funla\u015ft\u0131. CBOE Volatilite Endeksi\u2019nin (VIX) 21\u2019e s\u0131\u00e7ramas\u0131, korkuda ge\u00e7ici bir art\u0131\u015fa i\u015faret ederken, i\u015flem yapanlar i\u00e7in f\u0131rsatlar yarat\u0131yor.<\/p>\n
Bu geri \u00e7ekilme, a\u015f\u0131r\u0131 kazan\u00e7lar\u0131n ard\u0131ndan gelen klasik bir k\u00e2r realizasyonu \u00f6rne\u011fi. \u00d6rne\u011fin SOX yar\u0131 iletken endeksi son birka\u00e7 ayda yakla\u015f\u0131k %50 y\u00fckseldi; bu h\u0131z, arada \u201cs\u0131f\u0131rlama\u201d niteli\u011finde d\u00fczeltmeler olmadan s\u00fcrd\u00fcr\u00fclebilir de\u011fil. K\u0131sa vadeli fiyat hareketine ra\u011fmen, yapay zek\u00e2 altyap\u0131s\u0131 ve rekor k\u00e2r art\u0131\u015f\u0131 etraf\u0131ndaki temel hik\u00e2yenin tamamen de\u011fi\u015fmedi\u011fini d\u00fc\u015f\u00fcn\u00fcyoruz.<\/p>\n
\u0130ma edilen volatilitedeki s\u0131\u00e7rama g\u00f6z \u00f6n\u00fcne al\u0131nd\u0131\u011f\u0131nda, mevcut ortamda opsiyon primi satman\u0131n en temkinli strateji oldu\u011funa inan\u0131yoruz. Nasdaq-100 gibi teknoloji endekslerinde veya belirli yar\u0131 iletken ETF\u2019lerinde nakit teminatl\u0131 put ya da put kredi spreadi satmay\u0131 de\u011ferlendirin. Bu yakla\u015f\u0131m, prim toplaman\u0131z\u0131 sa\u011flarken, bu varl\u0131klar\u0131 daha d\u00fc\u015f\u00fck bir fiyattan portf\u00f6ye katmay\u0131 makul bulaca\u011f\u0131n\u0131z seviyeyi de tan\u0131mlaman\u0131za yard\u0131mc\u0131 olur.<\/p>\n
Piyasa i\u00e7 dinamikleri bu g\u00f6r\u00fc\u015f\u00fc destekliyor: Sat\u0131\u015f s\u0131ras\u0131nda k\u00fc\u00e7\u00fck \u00f6l\u00e7ekli hisseler daha iyi performans g\u00f6sterdi ve d\u00fc\u015fen sekt\u00f6rlerden daha fazlas\u0131 y\u00fckseldi. Bu, geni\u015f \u00e7apl\u0131 bir riskten ka\u00e7\u0131\u015ftan ziyade bir rotasyon ya\u015fand\u0131\u011f\u0131na i\u015faret ediyor. Tarihsel olarak bo\u011fa piyasalar\u0131nda, bir sonraki y\u00fckseli\u015f dalgas\u0131ndan \u00f6nce zay\u0131f elleri silkeleyen, sekt\u00f6re \u00f6zg\u00fc %5-10 aras\u0131 sert d\u00fczeltmeler s\u0131k g\u00f6r\u00fcl\u00fcr.<\/p>\n
Bu nedenle, bu kadar y\u00fcksek fiyatlanan koruyucu putlar\u0131 sat\u0131n alm\u0131yoruz. Bunun yerine, kazanan teknoloji hisselerinde uzun pozisyon ta\u015f\u0131yanlar i\u00e7in, hisselere kar\u015f\u0131 covered call satmak ad\u0131na uygun bir f\u0131rsat oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. Bu strateji, daha y\u00fcksek volatiliteden yararlanarak gelir \u00fcretir ve \u00e7ekirdek pozisyonun maliyetini fiilen a\u015fa\u011f\u0131 \u00e7eker.<\/p>\n","protected":false},"excerpt":{"rendered":"
Teknolojide son iki ayda %50 ralli sonras\u0131 sert sat\u0131\u015f dar alanda: ABD yar\u0131 iletkenleri %8,2 d\u00fc\u015ft\u00fc, VIX 21. Danske Bank bunu sa\u011fl\u0131kl\u0131 d\u00fczeltme\/rotasyon g\u00f6r\u00fcyor; opsiyon primi sat\u0131\u015f\u0131 ve covered call \u00f6neriyor.<\/p>\n","protected":false},"author":87,"featured_media":47759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49471","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/49471","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=49471"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47759"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=49471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=49471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=49471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}