Stock Options 股票期权

The most common way to trade stock options is trading standardized options contracts that are listed by various futures and options exchanges -- there are currently six exchanges in the United States that list standardized options contracts based on underlying stocks -- The Philadelphia Stock Exchange (PHLX), American Stock Exchange (AMEX) and NYSE Arca in New York City, and the Chicago Board Options Exchange (CBOE) which are all open-outcry marketplaces, and the International Securities Exchange (ISE) and Boston Options Exchange (BOX) are electronic marketplaces. STOCK OPTIONS NEWS 最常见的交易方式的股票期权交易是期权合约的标准化是所列出的各种期货及期权交易所-目前还有6交流，在美国的名单标准化期权合约的基础上潜在的股票-费城证券交易所（_ ） ，美国证券交易所（ ）和纽约证券交易所方舟在纽约市，和芝加哥期权交易所（期权） ，这些都是公开喊价市场，和国际证券交易（伦敦交易所）和波士顿期权交易所（框）是电子市场。 股票期权新闻

There are also over-the-counter options contracts that are traded not on exchanges, but between two independent parties. 也有过度的柜台期权合约是交易而不是交流，但之间的两个独立的政党。 At least one of those parties is usually a large financial institution with a balance sheet big enough to underwrite such a contract. 至少其中一方通常是大型金融机构的资产负债表不够大承担这样的合同。

However, even for the non-electronic exchanges, competition and the introduction of automated execution (AutoEx) has led, by late 2006, to hybridization where all but the largest trades are executed electronically. 不过，即使是对于非电子的交流，竞争和引入自动执行（ autoex ）主导，到2006年末，杂交所有，但最大的行业是电子执行。 In Europe the main exchanges where stock options are traded are Euronext.liffe and Eurex. 在欧洲的主要交流，那里的股票期权交易是euronext.liffe和eurex 。

Contracts similar to options are believed to have been used since ancient times. 合同类似的选择 ，相信是被用来自远古时代。 In the real estate market, call options have long been used to assemble large parcels of land from separate owners, eg a developer pays for the right to buy several adjacent plots, but is not obligated to buy these plots and might not unless he can buy all the plots in the entire parcel. 在房地产市场，通话选项，早已被用来装配大型包裹的土地，从不同的业主，如开发商所支付的权利，购买几个相邻的图谋，但没有义务一定要购买这些图谋，未必除非他能买所有的图谋，在整个包裹。 Film or theatrical producers often buy the right - but not the obligation - to dramatize a specific book or script. 电影或戏剧，生产者往往购买的权利-但没有义务-戏剧特定书籍或脚本。 Lines of credit give the potential borrower the right - but not the obligation - to borrow within a specified time period. Banking Information | IRS TAX QUESTIONS | http://www.mobiletrading.ca 行信贷，让潜在的借款人的权利-但没有义务-借用一个特定的时间段。银行业信息|I R S的税务问题|h t tp://www.mobiletrading.ca

Many choices, or embedded options, have traditionally been included in bond contracts. 很多选择，或嵌入选项，传统上一直包括在债券合同。 For example many bonds are convertible into common stock at the buyer's option, or may be called (bought back) at specified prices at the issuer's option. 举例来说，很多债券可转换为普通股，买方的选项，或可称为（购回）在指定的价格在发行人的选择。 Mortgage borrowers have long had the option to repay the loan early. 按揭借款人长期以来有选择，以偿还贷款，早。

Privileges were options sold over the counter in nineteenth century America, with both puts and calls on shares offered by specialized dealers. 特权选项售出超过柜台，在十九世纪的美国，与双方提出，并要求对股份所提供的专门交易商。 Their exercise price was fixed at a rounded-off market price on the day or week that the option was bought, and the expiry date was generally three months after purchase. 其行使价定为一圆小康的市场价格就一天或一周，该方案是买，以及届满日期，一般3个月后购买。 They were not traded in secondary markets. 他们不是交易的二级市场。