702                                                     21

          
  (..  )  ,   
  (   ),    
  ,   ,       ,
  .       ,  
 ,      (   -
).

21.4.1     

    ,   ,  
      $4  ,    5000
. ,       $4,30  , 
  +$0,30 ($4,30  $4,00).  ,     $0,10
 +$0,40       $3,95     
$4,35. (   ,        -
    $0,10.)       -
     5000      $500
($0,10  5000 ),         -
  (     $0,05),   
   (     $0,05).

   ,     $0,10  +$0,20,     
  $500 ($0,10  5000 ). ,    -
: (1)     $0,05  $4,05,     
     $250; (2)     $0,05  $4,25,
         $250.

   ,     $0,30  
   $3,70      $0,10  $0,40, 
     $500 ($0,10  5000 ).     
$0,10  - $0,20,    $500.  ,  , 
       ,      -
 ,         :

   ,    

        

                                  
                                        

,         -
     (..      ,  
  ,   ,       
 )  ,      (
  ).    ,    -
 (   ),   :

   ,    

        

                                    
                                      

    ,     , -
   (basis risk).  ,   