K\u00fcresel hisse senetleri, performans\u0131n yayg\u0131n tabanl\u0131 bir g\u00fc\u00e7lenmeden ziyade sekt\u00f6r rotasyonuyla \u015fekillenmesiyle, a\u011fustosa birka\u00e7 MSCI endeksinde yeni t\u00fcm zamanlar\u0131n en y\u00fcksek seviyeleriyle ba\u015flad\u0131. Yaz\u0131l\u0131m hisseleri, son bir haftada %16 toparlanarak ralliye \u00f6nc\u00fcl\u00fck ederken; \u0130ran ve H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019na ili\u015fkin daha yap\u0131c\u0131 s\u00f6ylemler sonras\u0131 gerileyen petrol fiyatlar\u0131 da piyasaya destek verdi. Son \u00fc\u00e7 seansta g\u00f6r\u00fclen d\u00f6ng\u00fcsel rotasyon s\u00fcrerken, baz\u0131 defansif sekt\u00f6rlerde geri \u00e7ekilme izlendi. <\/p>\n
Asya\u2019da b\u00f6lgesel piyasalar, teknoloji ve yar\u0131 iletkenlere y\u00f6nelik soru i\u015faretlerinin risk i\u015ftah\u0131n\u0131 bask\u0131lamas\u0131yla d\u00fc\u015f\u00fc\u015fle i\u015flem g\u00f6rd\u00fc. Buna kar\u015f\u0131l\u0131k ABD ve Avrupa vadeli i\u015flemleri daha g\u00fc\u00e7l\u00fc seyretti ve s\u0131n\u0131rl\u0131 y\u00fckseldi.<\/p>\n
K\u00fcresel hisse senetlerinin rekor seviyelere \u00e7\u0131k\u0131\u015f\u0131n\u0131, d\u00f6ng\u00fcsel sekt\u00f6rlere y\u00f6nelik g\u00fc\u00e7l\u00fc bir kayma ve yaz\u0131l\u0131mda %16\u2019l\u0131k sert toparlanma destekliyor. S&P 500\u2019\u00fcn y\u0131lba\u015f\u0131ndan bu yana %12\u2019nin \u00fczerinde y\u00fckselmesi ve VIX volatilite endeksinin 13 civar\u0131ndaki d\u00fc\u015f\u00fck seviyelerde seyretmesiyle, piyasa g\u00fcveni y\u00fcksek kal\u0131yor. T\u00fcrev i\u015flemler yapan yat\u0131r\u0131mc\u0131lar, bu d\u00fc\u015f\u00fck volatilite ortam\u0131n\u0131; yeni yeni toparlanmaya ba\u015flayan ve geride kalm\u0131\u015f d\u00f6ng\u00fcsel hisselerde ucuz al\u0131m (call) opsiyonlar\u0131 alarak de\u011ferlendirmeli.<\/p>\n
Yaz\u0131l\u0131m y\u00fckseli\u015fini s\u00fcrd\u00fcr\u00fcrken, Asya\u2019daki yar\u0131 iletken tedarik zincirlerine dair \u015f\u00fcphecilik do\u011fu piyasalar\u0131nda bask\u0131 yaratmaya devam ediyor. Yat\u0131r\u0131mc\u0131lara, g\u00f6reli de\u011fer i\u015flemleri kurmalar\u0131n\u0131 \u00f6neriyoruz: ABD\u2019li yaz\u0131l\u0131m devlerinde call al\u0131rken, e\u015f zamanl\u0131 olarak Asya teknoloji endeksi ETF\u2019lerinde sat\u0131m (put) almak. Bu uzun-k\u0131sa opsiyon yap\u0131s\u0131, daha geni\u015f teknoloji volatilitesine kar\u015f\u0131 koruma sa\u011flarken, belirgin b\u00f6lgesel ayr\u0131\u015fmadan faydalanmay\u0131 hedefler.<\/p>\n
Brent petrol\u00fcn yeniden 72 dolar band\u0131na do\u011fru gerilemesiyle, daha d\u00fc\u015f\u00fck petrol fiyatlar\u0131 ula\u015ft\u0131rma ve iste\u011fe ba\u011fl\u0131 t\u00fcketim (consumer discretionary) hisseleri i\u00e7in g\u00fc\u00e7l\u00fc bir r\u00fczg\u00e2r olu\u015fturuyor. H\u00fcrm\u00fcz Bo\u011faz\u0131 \u00e7evresindeki jeopolitik gerilimlerin yat\u0131\u015fma sinyalleri vermesiyle, enerji sekt\u00f6r\u00fcndeki volatilitenin i\u015flem f\u0131rsat\u0131 sundu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. Yat\u0131r\u0131mc\u0131lar, emtiadaki d\u00fc\u015f\u00fc\u015fe k\u0131yasla ima edilen volatilitesi h\u00e2l\u00e2 pahal\u0131 kalan b\u00fcy\u00fck petrol \u00fcreticilerinde put al\u0131m\u0131n\u0131 de\u011ferlendirmeli.<\/p>\n
Ba\u015fl\u0131ca k\u00fcresel endeksler t\u00fcm zamanlar\u0131n en y\u00fcksek seviyelerinde seyrederken, ani ve k\u0131sa vadeli bir d\u00fczeltme riski masada kalmaya devam ediyor. Mevcut portf\u00f6yleri savunmak i\u00e7in, al\u0131m opsiyonu satarak (out-of-the-money call) a\u015fa\u011f\u0131 y\u00f6nl\u00fc koruyucu put al\u0131m\u0131n\u0131 finanse eden \u201ccollar\u201d stratejilerini kullanmal\u0131y\u0131z. Bu yakla\u015f\u0131m, d\u00f6ng\u00fcsel rotasyondan gelen son kazan\u00e7lar\u0131 kilitlememize yard\u0131mc\u0131 olurken, yukar\u0131 y\u00f6nl\u00fc potansiyelden tamamen vazge\u00e7memeyi sa\u011flar.<\/p>\n\n\n\n
Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":" Rekorlar s\u00fcrerken rota de\u011fi\u015fiyor: MSCI\u2019lerde zirve, sekt\u00f6r rotasyonuyla geldi. Yaz\u0131l\u0131m %16 s\u0131\u00e7rad\u0131, petrol 72$\u2019a geriledi. Asya bask\u0131l\u0131; ABD-Avrupa vadeli g\u00fc\u00e7l\u00fc. Collar ve uzun-k\u0131sa opsiyonlar \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":50012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-52332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t