asthirta madhyasthata

vitt mein, asthirta madhyasthata (yaa woll aeye. aar. bee.) vittiya madhyasthata takneekon key liye ack shabd haye joe seedhe taur parr asthirta parr nirbhar haye. 
ack samanya prakaar kaa woll rb saankhyikiya madhyasthata kaa prakaar haye jise ack vikalp key delta tatasth portfolio aur isake antarnihit vyaapaar dwara lagu kiya jaataa haye. iska uddeshya vikalp kii nihit asthirta aur bhavishya mein vikalp key antarnihit asthirta key purvanuman key beach antar kaa laabh uthaana haye. asthirta madhyasthata mein, moolya key bajaay asthirta kaa upayog saapeksh maap kii ikai key roop mein kiya jaataa haye, i.ee. vyaapaari cumm honey parr asthirta khareedane kaa prayaas karate hain aur adhik honey parr asthirta bechane kaa prayaas karate hain.
avalokan.
asthirta madhyasthata mein sanlagn ack vikalp vyaapaari key liye, ack vikalp anubandh antarnihit moolya parr ack dishaatmak daanv key bajaay antarnihit asthirta mein anuman lagaane kaa ack tarika haye. yadi koee vyaapaari delta-tatasth portfolio key hisse key roop mein vikalp khareedata haye, tou usey "lambi asthirta" kahaa jaataa haye. yadi vaha vikalp bechata haye, tou usey "alp asthirta" kahaa jaataa haye. jaba taka vyaapaar delta-tatasth kiya jaataa haye, taba taka ack vikalp kharidana ack shart haye kii antarnihit bhavishya kii mahsoos kii gaee asthirta adhik hogi, jabaki ack vikalp bechana ack shart haye kii bhavishya mein mahsoos kii gaee asthirta cumm hogi. putt-coll samaantaa key kaaran, isase koee fark naheen padata kii vyaapaar kiye gaye vikalp coll hain yaa putt hain. yeh sach haye kyonki putt-coll samaantaa ack coll, ack putt aur antarnihit kii kuchh matra key beach ack jokhim tatasth samaantaa sambandh rakhti haye. isaliye, ack delta-hazed coll key lambe honey key kaaran, ack delta-hazed putt key roop mein samaan laabh hotaa haye.
asthirta madhyasthata "vaastavik aarthik madhyasthata" (jokhim mukt laabh avsar key arth mein) naheen haye. yeh nihit asthirta kii bhavishya kii disha kii bhavishyavani parr nirbhar kartaa haye. yahaan taka kii portfolio adharit asthirta madhyasthata drishtikon joe asthirta jokhim koo "vividhata" dene kii koshish karate hain, taba bhee "black swan" ghatnaaon kaa anubhav curr sakate hain jaba nihit asthirta mein parivartan kaee pratibhootiyon aur yahaan taka kii baajaron mein sahsambaddh hotey hain. deerghakaalik poonji prabandhan ney asthirta madhyasthata drishtikon kaa upayog kiya.
asthirta kaa purvanuman karein.
asthirta madhyasthata mein sanlagn honey key liye, ack vyaapaari koo pahale antarnihit bhavishya kii mahsoos kii gaee asthirta kaa purvanuman lagaana chaahiye. yeh aam taur parr 252 dinon (americi share bajar key liye ack varsh mein vyaparik dinon kii vishisht sankhya) jaise pichhale namoone key liye antarnihit aitihaasik dainik return kii ganana karke kiya jaataa haye. vyaapaari apane purvanuman koo samaayojit karane key liye anya karakon kaa bhee upayog curr sakata haye, jaise kii kyaa avadhi asamanya roop seey asthir thee, yaa yadi nikat bhavishya mein asamanya ghatanaaen honey vaali hain. udaaharan key liye, yadi kissy stock parr return key liye vartamaan 252-divasiya asthirta kii ganana 15 pratishat kii jaati haye, lekin yeh gyaat haye kii ack mahatvapurna patent vivaad agale varsh mein nipat jaayega aur stock koo prabhaavit karega, tou vyaapaari taya curr sakata haye kii stock key liye upayukt purvanuman asthirta 18 pratishat haye.
bajar (nihit) asthirta.
jaisa kii vikalp mulyankan takneekon mein varnit haye, aise kaee kaarak hain jinka upayog ack vikalp key saiddhaantik moolya koo nirdhaarit karane key liye kiya jaataa haye. haalaanki, vyavhaar mein, dinn key dauran badalane vaale model key liye kewal dou input antarnihit moolya aur asthirta hain. isaliye, ack vikalp kii saiddhaantik keemat koo iss prakaar vyakt kiya jaa sakata haih
jahan sootra _ 2 antarnihit moolya haye, aur sootra _ 3 bhavishya kii asthirta kaa anuman haye. kyonki saiddhaantik moolya falan sootra _ 4 sootra _ 3 kaa ack neeras roop seey badhata huaa kaary haye, ack sambandhit neeras roop seey badhata huaa kaary sootra _ 6 honah chaahiye joe vikalp key bajar moolya sootra _ 7 dwara "nihit" asthirta koo vyakt kartaa haye, yaa
yaa, dusare shabdon mein, jaba stock moolya sootra _ 2 sahit anya sabhi nivesh sthir rakhe jaate hain, tou vikalp key liye pratyek bajar moolya sootra _ 7 key liye ack seey adhik "nihit asthirta" sootra _ 10 maujood naheen hotaa haye.
kyonki kissy vikalp kii "nihit asthirta" antarnihit moolya parivartan key roop mein bhee sthir reh sakati haye, vyaapaari ise vikalp key bajar moolya key bajaay saapeksh moolya key maap key roop mein upayog karate hain. udaaharan key liye, yadi koee vyaapaari ack vikalp khareed sakata haye jiska nihit asthirta sootra 10% haye, tou yeh kahana aam baat haye kii vyaapaari "10 pratishat key liye vikalp khareed sakata haye. isake vipareet, yadi vyaapaari ack vikalp betch sakata haye jisaki nihit asthirta 20 pratishat haye, tou kahaa jaataa haye kii vyaapaari "vikalp koo 20 pratishat parr betch sakata haye.
udaaharan key liye, maan leejiye kii ack coll vikalp $1.9 parr vyaapaar curr rhaa haye aur antarnihit moolya $45.50 haye aur yeh 17.5% kii ack nihit asthirta dey rhaa haye. thode samay baad, vahee vikalp $2.5 parr vyaapaar curr sakata haye aur antarnihit moolya $46.36 parr hoe sakata haye aur 16.5% kii ack nihit asthirta kaa utpaadan curr sakata haye. bhale hii dusare maap parr vikalp kii keemat adhik haye, lekin vikalp koo abhee bhee sastaa maanaa jaataa haye kyonki nihit asthirta cumm haye. aisaa isaliye haye kyonki vyaapaari lambi coll koo bachaane key liye aavashyak stock koo adhik keemat parr betch sakata haye.
tantra.
asthirta key purvanuman key saath sashastr, aur nihit asthirta key sandarbh mein ack vikalp key bajar moolya koo maapane mein saksham, vyaapaari ack asthirta madhyasthata vyaapaar shuru karane key liye taiyar haye. ack vyaapaari una vikalpon kii talash kartaa haye jahaan antarnihit asthirta, sootra _ 10 yaa tou purvanuman mahsoos kiye gaye asthirta sootra _ 3 seey kaafee cumm yaa adhik haye. pahale mamle mein, vyaapaari delta tatasth portfolio banaane key liye vikalp aur antarnihit key saath hazes khareedata haye. dusare mamle mein, vyaapaari vikalp bechata haye aur phir sthiti koo bachaata haye.
holding avadhi mein, vyaapaari koo vyaapaar parr laabh kaa ehsas hoga yadi antarnihit asthirta bajar key purvanuman (i.ee. nihit asthirta). portfolio koo delta-tatasth rakhane key liye aavashyak nirantar ree-hazing key madhyam seey vyaapaar seey laabh nikala jaataa haye.

