<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>

亞馬遜每日 2 倍做多 ETF - Direxion

AMZZ

<p>本文討論了在財報季節使用保護性認沽期權來管理風險的策略，特別是針對像 Meta、Microsoft 和 Amazon 這樣的科技股。保護性認沽期權允許投資者鎖定其股票的賣出價格，為潛在損失提供保險，同時仍然追求上漲的機會。文章強調了選擇合適的行權價和期權系列的重要性，以及在財報公告期間要謹慎對待膨脹的期權溢價。最終，保護性認沽期權作為一種風險管理工具，幫助交易者在不出售股票的情況下保護利潤</p>

How Protective Puts Lower Risk Management

- 盈利季節帶來了劇烈波動，尤其是科技公司如 Meta 和亞馬遜。  
- 交易者可以通過保護性認沽期權來鎖定收益，防止損失。  
- 選擇合適的行權價和期權序列對於管理風險至關重要。

保護性看跌期權如何降低風險管理