SOFI 在一个月内下跌 14% 后目前低于 16 美元，在约 15 至 20 美元之间波动，这使它成为他卖出现金担保看跌期权和运行轮动策略的最爱标的；他乐于卖出平值看跌期权，甚至略为价内的 16 美元执行价，因为他愿意持有它。
逐段跳播
我们选一只更便宜的股票。我现在选SoFi，因为我认为SoFi目前是卖出看跌期权最理想的股票之一。而且实际上，随着我们在这门课程中推进，我给你们展示轮动策略，我认为SoFi毫无疑问是我做轮动策略最喜欢的标的。
Let's choose a cheaper stock. I am going for SoFi now, because I think SoFi is currently one of the perfect stocks to sell put options on. And actually, as we progress in this course and I show you the wheel strategy , I think SoFi is without a doubt my favorite candidate for the wheel strategy.
那么，看看这个。这是SoFi，目前SoFi的交易价格低于每股16美元。它在过去一个月里下跌了14%。它为投资者提供了一个卖出看跌期权的非常强的机会。
So, take a look at this . This is SoFi, and currently SoFi is trading below $16 per share. It has fallen by 14% over the past month . It offers a very strong opportunity for an investor to sell a put option .
它在过去一个月里下跌了14%。它为投资者提供了一个卖出看跌期权的非常强的机会。
It has fallen by 14% over the past month. It offers a very strong opportunity for an investor to sell a put option.
那么，SoFi，因为它的交易区间在每股最低15美元到大约每股20美元之间。因为它在一个区间内交易，所以我很放心卖出接近当前股价的期权。
So, SoFi, because it trades within a range of between $15 per share at the absolute bottom to about $20 per share. Because it trades within a range, I feel very comfortable selling options that are close to the current stock price.
因此，这将意味着卖出delta更高的期权。那么，如果我看这里的这份15看跌期权，delta是0.35。所以，delta 就是你被行权指派的可能性。
This would therefore entail selling options with a higher delta. So, if I look at this 15-put option here, the delta is 0.35. So, delta is your chance of being assigned.
Delta 也是期权相对于股票变动或表现的程度。
Delta is also the extent to which the option moves or behaves in relation to the stock.
所以，如果股票下跌一美元，而 delta 是 0.35，那么期权就变动 0.35 美元，也就是每美元 35 美分，明白吗？
So, if the stock drops by a dollar and the delta is 0.35, then the option moves by 0.35 dollars, which is 35 cents per dollar, okay?
这就是你应该如何理解 delta。Delta 极其重要，在进阶层面，我用 delta 以及另外几个希腊字母来管理我的投资组合，这些我们之后可能会在示例中讲到，但本质上，delta 是最重要的。
This is how you should think about delta. Delta is extremely important, and at an advanced level I manage my portfolio with delta and a few other Greeks that we might cover later in examples, but in essence, delta is the most important.
它是你需要理解的最重要的希腊字母。这里的 delta 是 0.35，而我其实愿意选择更高的 delta。
It is the most important Greek you need to understand. The delta here is 0.35, and I am actually willing to go for a higher delta.
有意思的是，我甚至没法选择更高的 delta，因为如果我再往上选，就会变成“价内”，对吧？因为这里这个 16 的看跌期权目前的交易价格高于 SoFi 的价格。
The interesting thing is that I can't even choose a higher delta, because if I went higher, I would be 'in the money', right? Because this 16 put option here is currently trading above the price of SoFi.
所以如果我点开这个期权，我看到 delta 是 0.48。好吧，delta 高得多，但它已经是“价内”了。坦白跟你说清楚：我认为“价内”期权没问题，因为如果你看行权价减去权利金，真正重要的只有你的平均成本基础。
So if I click on this option, I see a delta of 0.48. Okay, the delta is a lot higher, but he is already 'in the money'. To be honest and clear with you: I think 'in the money' options are fine, because if you look at the strike price minus the premium, only your average cost basis matters.
所以如果你卖出看跌期权，现金担保看跌期权实际上就是一个你付钱去等待的限价单。你不必选在当前股价之下，因为如果你选 16，再把权利金算进去，你实际上最终大约在 14.75 美元。
So if you sell put options, a cash-secured put is actually a limit order that you pay to wait. You don't have to go below the current share price, because if you choose 16 and factor in the premium, you actually end up at about 14.75 dollars.
所以事实上，你的平均成本基础远低于 SoFi 的当前价值。所以如果我卖出一个 16 美元的看跌期权，它有点“价内”，略高于 SoFi 的当前价值，那也没问题。我对此感到很安心，因为我想持有这只股票。
So in fact, your average cost base is far below the current value of SoFi. So if I sell a $16 put option that is somewhat 'in the money' and just above the current value of SoFi, that is fine.
I feel very comfortable with this, because I would like to own the stock.
也许就是 SoFi。SoFi 目前每股不到 30 美元。
Maybe it is SoFi. SoFi is currently under 30 dollars per share.
我提到过 SoFi。我从 SoFi 还是一家大约 9 美元的公司时就开始持有它了。在它 9 美元的时候我说它会突破 300 亿，它确实做到了。所以我社区里所有持有它的人都真的赚了很多钱。
他们获得了巨额利润。他们真的赚到了多得离谱的钱。我很自豪。我为他们高兴。
I mentioned SoFi. I've been in SoFi since it was a company of about 9 dollars. I said it would cross 30 billion when it was at nine, and it did. So everyone who was in my community really made tons of money .
They made huge profits . They really made a ridiculous amount of money. I'm proud. I'm happy for them.
现在，我们在这门课程里其实还没有完全讨论过delta，但delta本质上就是你被行权分配的概率，对吧？
Now, we haven't really fully discussed delta here in this course yet, but delta is essentially, you know, your chance of being assigned, okay?
这个频道对 $SOFI 的历次判断
Invest with Henry 在这只股票上共 7 条判断，这里只列相邻的几条。