<div id="readability-page-1"><p>Earnings season is rife with shakeups, and the last few weeks were filled with massive post-earnings moves, especially from tech players including <strong>Meta Platforms (META), Microsoft (MSFT), </strong>and <strong>Amazon.com (AMZN). </strong>Though the season is already in full swing, we're going to take a look at how traders can utilize options to protect their profits.</p> <h2>A Protective Put Breakdown</h2> <p>One way  traders can &#34;insure&#34; their investment and limit  losses, in case of a sharp selloff, is through <strong>protective puts</strong>. A protective put  locks in a selling price (the strike) for the shares as a safety measure.</p> <p>For instance, let's say you bought 100 shares of Stock XYZ at $100 apiece but value appreciated to $120. However, earnings are around the corner and you're scared the stock may give up some or all of those gains but you also don't want to sell the shares and miss out on potential upside. You could purchase a 110-strike protective put that encompasses the earnings release. That way, if XYZ tumbles back to the century mark after earnings, the protective put allows you to unload your shares at $110-- locking in a 10% profit (minus the cost of the puts, of course).</p> <p>As such, the main goal of a protective put buyer is quite different than that of a “vanilla” put buyer. A protective put buyer is simply using the option as a form of insurance; the trader's ultimate goal is for the shares to move higher and ideally offset the cost of the option, leaving the put to expire worthless. A &#34;vanilla&#34; put buyer, on the other hand, is actively looking for the underlying shares to fall.</p> <h2>Weighing the Risks</h2> <div> <p>While the protective put buyer's goal is to forfeit the initial premium paid for the put-- which represents the maximum risk on the trad-- you don't want to overpay. It's important to select the right strike and options series to accommodate your personal risk tolerance. </p> <p>It is also important to be aware of the risks when trading options ahead of big events such as earnings. When a company has a planned event like earnings on the horizon, options premiums tend to be inflated. As a result, deeper out-of-the-money puts will be more affordable to purchase, but will allow less protection in the end. </p> <p>In addition, the cost of the protective puts depends on time value. A 110-strike put that expires in two weeks will cost less than a put at the same strike expiring in two months, as the latter allows more time for the underlying stock to make a big move.</p> </div></div>

亚马逊每日 2 倍做多 ETF - Direxion

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<p>本文讨论了在财报季节使用保护性认沽期权来管理风险的策略，特别是针对像 Meta、Microsoft 和 Amazon 这样的科技股。保护性认沽期权允许投资者锁定其股票的卖出价格，为潜在损失提供保险，同时仍然追求上涨的机会。文章强调了选择合适的行权价和期权系列的重要性，以及在财报公告期间要谨慎对待膨胀的期权溢价。最终，保护性认沽期权作为一种风险管理工具，帮助交易者在不出售股票的情况下保护利润</p>

How Protective Puts Lower Risk Management

- 盈利季节带来了剧烈波动，尤其是科技公司如 Meta 和亚马逊。  
- 交易者可以通过保护性认沽期权来锁定收益，防止损失。  
- 选择合适的行权价和期权序列对于管理风险至关重要。

保护性看跌期权如何降低风险管理