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. وأ ﻪـــﻟاﺪﺒﺘـــﺳا وأ فﻮﺸﻜـــﻣ ﺪﻘـــﻋ يأ ءاﺮـــﺸﺑ ﺖـــﻗو يأ ﻲـــﻓ مﻮﻘـــﺗ نأ ﺔـــﻛﺮـــﺸﻠﻟ ﻖﺤـــﻳ .1 ﻞﻴﻤﻌـﻟا ﺎـﻫﺪﺒﻜﺘـﻳ ةرﺎﺴـﺧ ﺔـﻳأ ﻦـﻋ ﺮﻈﻨـﻟا فﺮﺼـﺑ) ﻞﻴﻤﻌﻠـﻟ ﻖﺒـﺴﻣ رﺎﻌـﺷإ ﻪﻴـﺟﻮـﺗ نود ﻪﺘﻴﻔﺼـﺗ (فﻮﺸﻜﻤﻟا ﺪﻘﻌﻟا ﻚﻟذ ﻰﻀﺘﻘﻤﺑ فﻮﺸﻜﻣ ﺰﻛﺮﻣ يأ ﻦﻋ ﻻوﺆﺴﻣ ﻞﻴﻤﻌﻟا نﻮﻜﻳ .2 فﻮﺸﻜﻤــﻟا ﺰــﻛﺮﻤــﻟا ءاﺮــﺷ ﻞﻴﻤﻌــﻟا ﻦــﻣ ﺐﻠﻄــﺗ نأ ﺎــﻫﺮــﻳﺪﻘــﺗ ﺾﺤﻤــﺑو ﺔــﻛﺮــﺸﻠﻟ زﻮﺠــﻳو .3 ﻖﺒﺴﻣ رﺎﻌﺷإ نوﺪﺑ ﺔﻴﻟﺎﻤﻟا قاروﻻا ﺔﻤﻴﻗ ﻊﻓدو تارﺎﻴﺨـــﻟا دﻮﻘـــﻋو ﺔﻴﻠﺒﻘﺘـــﺴﻤﻟا دﻮﻘﻌـــﻟا ﻰـــﻟإ ﺔﺒـــﺴﻨﻟﺎـــﺑ ﺮـــﻃﺎﺨﻤـــﻟا ﻦـــﻋ حﺎﺼـــﻓﻻا نﺎﻴـــﺑ 9.4 ﺔﻴﻟﺎﻤﻟا قاروﻻﺎﺑ ﺔﺻﺎﺨﻟا ﺔﻤﻬﻤــﻟا ﺐــﻧاﻮﺠــﻟاو ﺮــﻃﺎﺨﻤــﻟا ﻊﻴﻤــﺠﻟ ﻼــﻣﺎــﻛ ﺎــﺣﺎﺼــﻓإ ﻦﻤﻀﺘــﻳ ﻻ ﺮﺼﺘﺨﻤــﻟا نﺎﻴﺒــﻟا اﺬــﻫ نإ ءﻮــﺿ ﻲــﻓو .تارﺎﻴﺨــﻟا دﻮﻘــﻋو ﺔﻴﻠﺒﻘﺘــﺴﻤﻟا دﻮﻘﻌــﻟاو ﺔﻴــﻟﺎﻤــﻟا قاروﻻﺎــﺑ ﻞــﻣﺎﻌﺘﻠــﻟ ىﺮــﺧﻻا ﻢﻬﻔـــﻳ نﺎـــﻛ اذإ ﻻإ تﺎﻘﻔﺼـــﻟا هﺬـــﻬﺑ ﻞـــﻣﺎﻌﺘـــﻳ ﻻ نأ ﻞﻴﻤﻌـــﻟا ﻰﻠـــﻋ ﻦﻴﻌﺘـــﻳ ،رﺎﻄـــﺧﻻا هﺬـــﻫ نأ ﺚﻴــﺣ ،ﺮﻄــﺨﻠﻟ ﻪــﺿﺮﻌــﺗ ىﺪــﻣو ﺎﻬــﻣﺮﺒــﻳ ﻲﺘــﻟا(ﺔــﻳﺪــﻗﺎﻌﺘــﻟا تﺎــﻗﻼﻌــﻟاو) دﻮﻘﻌــﻟا ﺔﻌﻴﺒــﻃ .رﻮﻬﻤـﺠﻟا ﺔـﻣﺎـﻋ ﻦـﻣ ﻦﻴﻠـﻣﺎﻌﺘﻤـﻟا اﺮﻴﺜـﻛ ﺐـﺳﺎﻨـﻳ ﻻ تارﺎﻴﺨـﻟاو ﺔﻴﻠﺒﻘﺘـﺴﻤﻟا دﻮﻘﻌـﻟﺎـﺑ ﻞـﻣﺎﻌﺘـﻟا ﻪـﻓاﺪـﻫأو ﻪـﺗﺮﺒـﺧ ءﻮـﺿ ﻲـﻓ ﻪـﻟ ﺎﺒـﺳﺎﻨـﻣ ﻞـﻣﺎﻌﺘـﻟا نﺎـﻛ اذا ﺎـﻣ رﺎﺒﺘـﻋﻻا ﻲـﻓ ﺬـﺧﺄـﻳ نأ ﻪﻴﻠـﻋ ﻚـﻟﺬـﻛ ﻰـﻟإ عﻮـﺟﺮـﻟا ﻞﻴﻤﻌـﻟا ﻰﻠـﻋو .ﺔـﻗﻼﻌـﻟا تاذ ىﺮـﺧﻻا ﻪـﻓوﺮـﻇو ﺔﻴـﻟﺎﻤـﻟا هدراﻮـﻣو ﺔـﻳرﺎﻤﺜﺘـﺳﻻا ﺞﺘﻨــﻳ ﺎــﻣو رﺎﻴﺨــﻟا دﻮﻘــﻋو ﺔﻴﻠﺒﻘﺘــﺴﻤﻟا دﻮﻘﻌــﻟا ﻲــﻓ ﻪــﺗﻻواﺪــﺗ نأ ﺚﻴــﺣ ﻲــﻟﺎﻤــﻟا هرﺎﺸﺘــﺴﻣ .ﻂﻘﻓ ﻪﺘﻴﻟوﺆﺴﻣ ﺖﺤﺗ نﻮﻜﺗ ﺮﻃﺎﺨﻣ ﻦﻣ ﺎﻬﻨﻋ ﺮﻄﺨﻟا ﻦﻣ ﻞﻴﻠﻘﺘﻟا ﺮﻣاوأو تﺎﻴﺠﻴﺗاﺮﺘﺳﻻا 9.4.1 مﺎﻈﻨـﻟا ﺐـﺟﻮﻤـﺑ ازﺎﺠـﻣ اﺬـﻫ نﺎـﻛ ﺎﻤﺜﻴ...
