"A 'variance' swap is an over-the-counter financial derivative that allows one to speculate on or hedge risks associated with the magnitude of movement, i.e. volatility, of some underlying product, like an exchange rate, interest rate, or stock index. One leg of the swap will pay an amount based upon the realised variance of the price changes of the underlying product. Conventionally, these price changes will be daily log returns, based upon the most commonly used closing price. The other leg of the swap will pay a fixed amount, which is the strike, quoted at the deal's inception. Thus the net payoff to the counterparties will be the difference between these two and will be settled in cash at the expiration of the deal, though some cash payments will likely be made along the way by one or the other counterparty to maintain agreed upon margin. https://en.wikipedia.org/wiki/Variance_swap
No caso presente, “there is no agreed margin”. Conclusion: this is not a swap nor a swop but a huge flop!
6 comentários:
... e baldrocas, como se viu.
Por exemplo: trocar um ministro pela secretária de Estado.
Ou, andar de cavalo para burro.
Ou ainda: vamos de mal a pior.
Senhor Embaixador: uma vez mais em pleno!
Maneiras diplomaticas de com uma so' palavra , partir muita loica .
" SWAP "
Respeitosos Cumprimentos
Manuel Joaquim Leonardo
Peniche Vancouver Canada
"A 'variance' swap is an over-the-counter financial derivative that allows one to speculate on or hedge risks associated with the magnitude of movement, i.e. volatility, of some underlying product, like an exchange rate, interest rate, or stock index.
One leg of the swap will pay an amount based upon the realised variance of the price changes of the underlying product. Conventionally, these price changes will be daily log returns, based upon the most commonly used closing price. The other leg of the swap will pay a fixed amount, which is the strike, quoted at the deal's inception. Thus the net payoff to the counterparties will be the difference between these two and will be settled in cash at the expiration of the deal, though some cash payments will likely be made along the way by one or the other counterparty to maintain agreed upon margin.
https://en.wikipedia.org/wiki/Variance_swap
No caso presente, “there is no agreed margin”. Conclusion: this is not a swap nor a swop but a huge flop!
Apreciada e conhecida pelos pares europeus.
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