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\u5fb7\u570b\u5546\u696d\u9280\u884c\uff08Commerzbank\uff09\u5206\u6790\u5e2bAntje Praefcke\u8868\u793a\uff0c\u5f71\u97ff\u6b50\u5143\u514c\u7f8e\u5143\uff08EUR\/USD\uff09\u7684\u4e3b\u8981\u56e0\u7d20\uff0c\u662f\u8207\u4f0a\u6717\u885d\u7a81\u76f8\u95dc\u7684\u9032\u5c55\uff0c\u7f8e\u570b\u6578\u64da\u7684\u5f71\u97ff\u8f03\u5c0f\u3002\u5979\u9810\u671f\uff0c\u9664\u975e\u4e2d\u6771\u5c40\u52e2\u51fa\u73fe\u660e\u78ba\u5347\u7d1a\u6216\u964d\u6eab\uff0c\u5426\u5247\u8a72\u8ca8\u5e63\u5c0d\u5c07\u7dad\u6301\u5728\u8fd1\u671f\u5340\u9593\u5167\u3002<\/p>\n

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Praefcke\u6307\u51fa\uff0c\u8fd1\u6708\u7f8e\u570b\u5c31\u696d\u6578\u64da\u6ce2\u52d5\u5927\uff0c\u672a\u80fd\u63d0\u4f9b\u6e05\u6670\u65b9\u5411\u3002\u5979\u9810\u671f4\u6708\u8077\u4f4d\u589e\u9577\u504f\u6eab\u548c\uff0c\u610f\u5473\u9664\u975e\u51fa\u73fe\u660e\u986f\u504f\u96e2\u9810\u671f\u7684\u6578\u5b57\uff0c\u5426\u5247\u6578\u64da\u5c0d\u7f8e\u5143\u7684\u5f71\u97ff\u6709\u9650\u3002<\/p>\n

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\u4f4e\u6ce2\u5e45\u4e0b\u7684\u90e8\u7f72<\/h3>\n

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\u4e00\u500b\u6708EUR\/USD\u671f\u6b0a\u7684\u96b1\u542b\u6ce2\u5e45\uff08implied volatility\uff0c\u6307\u5e02\u5834\u7531\u671f\u6b0a\u50f9\u683c\u63a8\u7b97\u7684\u300c\u9810\u671f\u6ce2\u52d5\u300d\uff09\u5df2\u56de\u843d\u81f3\u7d045.5%\uff0c\u53cd\u6620\u5e02\u5834\u6b20\u7f3a\u660e\u78ba\u65b9\u5411\u3002\u9019\u96d6\u4ee4\u300c\u6536\u53d6\u671f\u6b0a\u91d1\u300d\uff08selling premium\uff0c\u6307\u8ce3\u65b9\u6536\u53d6\u671f\u6b0a\u91d1\u3001\u62bc\u6ce8\u50f9\u683c\u4e0d\u6703\u5927\u5e45\u6ce2\u52d5\uff09\u66f4\u5177\u5438\u5f15\u529b\uff0c\u4f46\u540c\u6642\u610f\u5473\u4efb\u4f55\u7a81\u767c\u6d88\u606f\u90fd\u53ef\u80fd\u5f15\u767c\u6025\u5287\u6ce2\u52d5\u3002\u4f4e\u6ce2\u5e45\u74b0\u5883\u4e3b\u8981\u56e0\u5e02\u5834\u7b49\u5f85\u5730\u7de3\u653f\u6cbb\u8a0a\u865f\uff0c\u800c\u975e\u8ddf\u96a8\u7d93\u6fdf\u6578\u64da\u5165\u5e02\u3002<\/p>\n

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