(OB-2) STOCK OPTION Risk Array Calculator                                      Price: HK$3,000
股票期權的風險陣列式孖展計算機

This calculator is a computer program run under window to calculate stock option portfolio
based on the risk array parameter file provided by SEHK. This file is available via member trading 
terminal (TOPS system), or download from SEHK Web site.
A user interface screen allow user to capture risk array file to the calculator. User can input option 
positions and view the status before calculation. After verification done, the calculator will printout 
the margin requirement together with the details of calculation.
The report will show option positions first, and calculate Mark-to-Market Margin and Additional 
Margin for option positions and pending positions respectively. Finally, the report will show the 
total margin requirement. A markup factor (135%) which is also adjustable is applied to give the 
final margin requirement. This is an excellent tool for individual investor or A.E. to review their 
own portfolio or client's portfolio.

Attached is an example of a client's portfolio with both CHK & HKB stock option positions.
The portfolio also include pending positions due to Exercise & Assign of option contracts.
This example shows the difficulty to make calculation by hand.


本系統是為客戶主任(AE)或個別投資人士而設的股票孖展計算機. 因為股票期權的風險計算,
需要用到風險陣列表,若以人手計算,並非不可能,但會非常不便. 本系統採用視窗環境下運作
的系統設計,可讀取由聯交所取得的Risk Array File,此檔期亦可在SEHK的網上下載,用以計
算期權持倉組合的按金要求. 按金要求計算,會以期權持倉及等待交收的持倉(因行使或要履
行責任)時的Additional孖展及Mart-to-Market孖展總和,再以可調節的倍數(1.35)計出應有的
按金要求. 方便非常.
                                                              此系統祗售 HK$3,000

EXAMPLE範例
附件包括一計算期權孖展的例子,包括CHK及HKB股票期權, 其中更有因行使及履行要處理
的孖展計算,此例說明以人為計算時的複雜性. 請下載參考.