北语11秋《金融英语》导学资料三

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1、北语11秋《金融英语》导学资料三Chapter5options第五章期权SentencePatterns1.Therearetwobasictypesofoptions:callandputs.期权分为：买入期权和卖出期权两种基本形式。2.Thepriceatwhichthesecuritymaybeboughtistheexercisepriceorthestrikingprice.购买证券对确定的价格称为履约价格或敲定价格。3.Thepriceofthisoptioncontractisitspremium.期权协约的价格成为期权费。4.Thel

2、astdateonwhichtheoptionmaybeexercisediscalledtheexpirationdateorthematuritydate.期权存在的最后一天称为失效日或到期日。5.Thepriceofanoptionconsistsoftwocomponents------intrinsicvalueandtimevalue.期权价格包括两个部分――期权的内在价值和时间价值。6.Theintrinsicofanoptionisthemaximumofeitherzeroorthemarketpriceminustheexerci

3、seprice.期权的内在价值，最低为零，最高等于市场价格减履约价格的差额。7.Thetimevalueofanoptionisthedifferencebetweenthepremiumonoptionanditsintrinsicvalue.期权的时间价值是期权费用与期权内在价值的差额。1.Somemarketparticipantspurchaseoptionsformuchthesamereasonaspeoplepurchaseinsurance.一些入市者购买期权的目的同人们购买保险的目的一样。2.Theyfeeltheprotectio

4、ntheyarereceivingagainstadversedevelopmentsisworthmorethantheoptionpremium.他们认为购买期权获得抵御不利情况的保障价值大于支付的期权费用。3.Derivativesareinamuchstrongerpositionnowthantheywere.衍生品现在处于比以前更强有力的位置上。4.Thebankcannolongerstick(bury/hike)itsheadinthesandaboutfinancialinnovations.银行再也不能对金融创新业务视而不见了。5

5、.Asmanyhavefoundtotheircost,ignoringinterestrate,currencyriskscanhurtthecompanybadly.许多人在吃了苦头后才意识到，忽视利率及货币风险会使公司遭受重大损失。6.Thediversityofformsofinnovationthathavebeendevelopedovertheyearsstatestheinventivenessofhumanrace.多年来创新的形式不断更新，显示了人类的创造力。1.Likeotherindustries,thefinancialin

6、dustryisinbusinesstoearnprofitsbysellingitsproducts.像其他行业一样，金融业通过出售其产品来获取利润。2.Financialinstitutionsdevelopnewproductstosatisfytheirownneedsaswellasthoseoftheircustomers.金融机构开发新产品以满足自己和客户的需要。3.Researchinganddevelopingnewproductsandservicestomeetcustomers’needsandproveprofitrefer

7、redtoasfinancialengineering.研究、开发新产品和服务以满足客户需要并改善利润状况被称为金融工程。4.Achangeofthefinancialenvironmentwillstimulateasearchbyfinancialinstitutionsforinnovationsthatarelikelytobeprofitable.经济环境的变化将刺激人们去寻求可能有利可图的创新。5.Necessitywasthemotherofinnovation.需要是创新之母。6.Assetandliabilitymanagement

8、hastraditionallybeenthemajorconcernofbanks.在传统上，资产负债管理