Options Contracts: Variable Degree of Risk. 9.4.2.1 Transactions in options carry a high degree of risk. The Client should familiarise itself with the type of option)i.e. put or call( which they contemplate trading and the risks associated with them. The Client should calculate the extent to which the value of the options must increase for its position to become profitable, taking into account the premium and all associated Transaction costs.
9.4.2.2 The purchaser of options may exercise or not exercise the options or allow the options to expire. The exercise of an option results either in a cash settlement or in the purchaser acquiring or delivering the underlying instrument. If the option is on a future, the purchaser shall acquire a futures position with associated liabilities for margin. If the purchased options expire worthless, the Client shall completely loose its investment, including the option premium plus all Transaction costs. If the Client is contemplating purchasing deep-out-of-the- money options, the Client should be aware that the chance of such options becoming profitable is usually remote. ىﺮـﺧﻻا ﺔﻤﻬﻤـﻟا ﺐـﻧاﻮﺠـﻟاو ﺮـﻃﺎﺨﻤـﻟا ﻊﻴﻤـﺠﻟ ﻼـﻣﺎـﻛ ﺎـﺣﺎﺼـﻓإ ﻦﻤﻀﺘـﻳ ﻻ ﺮﺼﺘﺨﻤـﻟا نﺎﻴﺒـﻟا اﺬـﻫ نإ ،رﺎﻄــﺧﻻا هﺬــﻫ ءﻮــﺿ ﻲــﻓو .تارﺎﻴﺨــﻟا دﻮﻘــﻋو ﺔﻴﻠﺒﻘﺘــﺴﻤﻟا دﻮﻘﻌــﻟاو ﺔﻴــﻟﺎﻤــﻟا قاروﻻﺎــﺑ ﻞــﻣﺎﻌﺘﻠــﻟ تﺎـﻗﻼﻌـﻟاو) دﻮﻘﻌـﻟا ﺔﻌﻴﺒـﻃ ﻢﻬﻔـﻳ نﺎـﻛ اذإ ﻻإ تﺎﻘﻔﺼـﻟا هﺬـﻬﺑ ﻞـﻣﺎﻌﺘـﻳ ﻻ نأ ﻞﻴﻤﻌـﻟا ﻰﻠـﻋ ﻦﻴﻌﺘـﻳ تارﺎﻴﺨـﻟاو ﺔﻴﻠﺒﻘﺘـﺴﻤﻟا دﻮﻘﻌـﻟﺎـﺑ ﻞـﻣﺎﻌﺘـﻟا نأ ﺚﻴـﺣ ،ﺮﻄـﺨﻠﻟ ﻪـﺿﺮﻌـﺗ ىﺪـﻣو ﺎﻬـﻣﺮﺒـﻳ ﻲﺘـﻟا(ﺔـﻳﺪـﻗﺎﻌﺘـﻟا نﺎـﻛ اذا ﺎـﻣ رﺎﺒﺘـﻋﻻا ﻲـﻓ ﺬـﺧﺄـﻳ نأ ﻪﻴﻠـﻋ ﻚـﻟﺬـﻛ .رﻮﻬﻤـﺠﻟا ﺔـﻣﺎـﻋ ﻦـﻣ ﻦﻴﻠـﻣﺎﻌﺘﻤـﻟا اﺮﻴﺜـﻛ ﺐـﺳﺎﻨـﻳ ﻻ ىﺮـﺧﻻا ﻪـﻓوﺮـﻇو ﺔﻴـﻟﺎﻤـﻟا هدراﻮـﻣو ﺔـﻳرﺎﻤﺜﺘـﺳﻻا ﻪـﻓاﺪـﻫأو ﻪـﺗﺮﺒـﺧ ءﻮـﺿ ﻲـﻓ ﻪـﻟ ﺎﺒـﺳﺎﻨـﻣ ﻞـﻣﺎﻌﺘـﻟا دﻮﻘﻌــﻟا ﻲــﻓ ﻪــﺗﻻواﺪــﺗ نأ ﺚﻴــﺣ ﻲــﻟﺎﻤــﻟا هرﺎﺸﺘــﺴﻣ ﻰــﻟإ عﻮــﺟﺮــﻟا ﻞﻴﻤﻌــﻟا ﻰﻠــﻋو .ﺔــﻗﻼﻌــﻟا تاذ .ﻂﻘﻓ ﻪﺘﻴﻟوﺆﺴﻣ ﺖﺤﺗ نﻮﻜﺗ ﺮﻃﺎﺨﻣ ﻦﻣ ﺎﻬﻨﻋ ﺞﺘﻨﻳ ﺎﻣو رﺎﻴﺨﻟا دﻮﻘﻋو ﺔﻴﻠﺒﻘﺘﺴﻤﻟا مﺎﻈﻨــﻟا ﺐــﺟﻮﻤــﺑ ازﺎﺠــﻣ اﺬــﻫ نﺎــﻛ ﺎﻤﺜﻴــﺣ ،“ةرﺎﺴﺨــﻟا ﻒــﻗو” ﺮــﻣاوأ ﻞﺜــﻣ) ﺔﻨﻴﻌــﻣ ﺮــﻣاوأ ﻊــﺿو نإ ﺔﻨﻴﻌـﻣ ﻎـﻟﺎﺒـﻣ ﺪﻨـﻋ ةرﺎﺴﺨﻠـﻟ ﺪـﺣ ﻊـﺿو ﻰـﻟإ ﺔـﻓدﺎﻬـﻟا(ﻦﻴﻌـﻣ ﺮﻌـﺳ ﺪﻨـﻋ ﻒـﻗﻮﺘـﻟا ﺮـﻣاوأ” وأ ،ﻲﻠـﺤﻤﻟا ﻚﻠـﺗ ﺬﻴﻔﻨـﺗ ﻞﻴﺤﺘـﺴﻤﻟا وأ ﺐﻌﺼـﻟا ﻦـﻣ ﻞﻌﺠـﺗ ﺪـﻗ قﻮﺴـﻟا فوﺮـﻇ نأ ﺚﻴـﺣ ،ةﺪﻴﻔـﻣ نﻮﻜـﺗ ﻻ ﺪـﻗ ” ﺰـــــﻛاﺮﻤـــــﻛ ،ﺰـــــﻛاﺮﻤـــــﻟا ﻦـــــﻣ ﺔﻠﻤـــــﺟ مﺪﺨﺘـــــﺴﺗ ﻲﺘـــــﻟا تﺎﻴﺠﻴـــــﺗاﺮﺘـــــﺳﻻا نﻮﻜـــــﺗ ﺪـــــﻗو .ﺮـــــﻣاوﻻا .ﺔﻄﻴﺴﺒﻟا “ﺔﻓﻮﺸﻜﻤﻟا” وأ “ةدﺪﺴﻤﻟا” ﺰﻛاﺮﻤﻟا ﻦﻋ ةرﻮﻄﺧ ﻞﻘﺗ ﻻ “ﺪﻳﺪﻤﺘﻟا“و “ﻊﻴﺳﻮﺘﻟا ﻞﻴﻤﻌـﻟا ﻰﻠـﻋ ﻦﻴﻌﺘـﻳو .ﺮﻄـﺨﻟا ﻦـﻣ ﺔﻴـﻟﺎـﻋ ﺔـﺟرد ﻰﻠـﻋ تارﺎﻴﺨـﻟا دﻮﻘﻌـﺑ ﻞـﻣﺎﻌﺘـﻟا يﻮﻄﻨـﻳ 9.4.2.1 ﻪــﺑ ﻞــﻣﺎﻌﺘــﻟا يﻮﻨــﻳ يﺬــﻟا )ءاﺮــﺷ رﺎﻴــﺧ مأ ﻊﻴــﺑ رﺎﻴـ...
