S******n 发帖数: 132 | 1 公司给offer虽然给定了一定价值的RSU,但是最终能拿到多少还真不一定,尤其是这些
互联网公司,
请问大家都是怎样来hedge风险的?
朋友说RSU每个季度发一次,买短期的put option,花几百块钱可以防止股价暴跌,具
体怎么操作谁有经验能来说一说吗? |
l*****t 发帖数: 2019 | 2 一般不能这么干,不然会违反trading window。你们公司给你rsu,你签字画押的
agreement 上难道没写不能交易derivatives 么?
【在 S******n 的大作中提到】 : 公司给offer虽然给定了一定价值的RSU,但是最终能拿到多少还真不一定,尤其是这些 : 互联网公司, : 请问大家都是怎样来hedge风险的? : 朋友说RSU每个季度发一次,买短期的put option,花几百块钱可以防止股价暴跌,具 : 体怎么操作谁有经验能来说一说吗?
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S******n 发帖数: 132 | |
J**9 发帖数: 835 | 4 That's right. But generally nobody will check that unless you declare.
A better way: but puts from your spouse's account if she/he is not in the
same company as you.
for example, you got 800 shares vesting in 4 years:
you got 100 shares vested every half year, to fully hedge:
buy 8 puts that expire about the same time as vesting:
Suppose the current stock price is $400:
then first contract expiration @ Jan 18, 2014 strike @400
second @ Mid July 2014 strike @390
etc.
but these long-term options are quite expensive, most of the time, it's not
worth it.
Another more aggressive way: buy a put and sell a call at the same strike/
expiration, which is equal to sell stocks early. But you need a large margin
account to do that.
【在 l*****t 的大作中提到】 : 一般不能这么干,不然会违反trading window。你们公司给你rsu,你签字画押的 : agreement 上难道没写不能交易derivatives 么?
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n****n 发帖数: 568 | 5 晕,没事别教人学坏,为这点钱冒这个风险不值,被抓的都是以为自己高明不会有事的
。几年前NY有对夫妇,用丈母娘的名字开户做inside trading,一样被SEC揪出来,赚
的钱全被没收(其实钱也不算多,好像60万都不到,最多也就是两人两年的
compensation),夫妻两人吃三年牢饭,吃完牢饭后遣送回国。一般的公司都有明确规
定,不能short or buy put option(这两个
是等价的)。
【在 J**9 的大作中提到】 : That's right. But generally nobody will check that unless you declare. : A better way: but puts from your spouse's account if she/he is not in the : same company as you. : for example, you got 800 shares vesting in 4 years: : you got 100 shares vested every half year, to fully hedge: : buy 8 puts that expire about the same time as vesting: : Suppose the current stock price is $400: : then first contract expiration @ Jan 18, 2014 strike @400 : second @ Mid July 2014 strike @390 : etc.
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J**9 发帖数: 835 | 6 Inside trading is against *law*.
Trading options of the company you are working for is against company's *
policy*. Not every company has that policy.
Anyway, not big deal for this.
【在 n****n 的大作中提到】 : 晕,没事别教人学坏,为这点钱冒这个风险不值,被抓的都是以为自己高明不会有事的 : 。几年前NY有对夫妇,用丈母娘的名字开户做inside trading,一样被SEC揪出来,赚 : 的钱全被没收(其实钱也不算多,好像60万都不到,最多也就是两人两年的 : compensation),夫妻两人吃三年牢饭,吃完牢饭后遣送回国。一般的公司都有明确规 : 定,不能short or buy put option(这两个 : 是等价的)。
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x*****s 发帖数: 125 | 7 这明显是inside trading啊,瓜田李下的事情说都说不清楚,不要冒险比较好 |
n****n 发帖数: 568 | 8 提前买了put option,然后万一公司的估价暴跌,就是浑身有嘴也说不清楚呀,省的那
点钱才真正不是big deal。
【在 J**9 的大作中提到】 : Inside trading is against *law*. : Trading options of the company you are working for is against company's * : policy*. Not every company has that policy. : Anyway, not big deal for this.
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S******n 发帖数: 132 | |
J**9 发帖数: 835 | |
L****c 发帖数: 209 | 11 原来在股版看过,据说公司内部人员买put option是不允许的,因为在股价下跌的时候
盈利是与股东利益不一致的。
局外人当然可以买put作为保护,但是内部人员买put确实无法解释。
【在 S******n 的大作中提到】 : 公司给offer虽然给定了一定价值的RSU,但是最终能拿到多少还真不一定,尤其是这些 : 互联网公司, : 请问大家都是怎样来hedge风险的? : 朋友说RSU每个季度发一次,买短期的put option,花几百块钱可以防止股价暴跌,具 : 体怎么操作谁有经验能来说一说吗?
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