면책 고지: CFD는 복잡한 금융상품으로, 레버리지로 인해 빠르게 손실이 발생할 수 있는 높은 위험을 수반합니다.
CFD의 작동 방식을 이해하고 있는지, 그리고 자금 손실의 높은 위험을 감당할 수 있는지 신중히 고려하시기 바랍니다.
Web Trader MT5
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Open Source Software
Open source software is software whose underlying code is published for anyone to read, use, modify, and share, rather than kept locked away as a trade secret. The idea powers much of modern technology, from operating systems to web servers, and it sits at the very heart of cryptocurrency.
Bitcoin’s code is open source, which means anyone can inspect exactly how it works, verify there is no hidden trickery, and even copy it to launch their own coin. That transparency is a feature, not a flaw: trust comes from being able to check.
Example: When a new cryptocurrency launches, developers and skeptics alike can pull up its open source code to see whether it does what its founders claim, checking for backdoors, hidden coin allocations, or sloppy security. A project that keeps its code secret invites suspicion, whereas an open codebase lets the whole community audit it, which is why open source is close to an unwritten requirement for a credible crypto project.
Operation Twist
Operation Twist is a central-bank manoeuvre that reshapes the yield curve without printing new money. The Federal Reserve sells its shorter-dated government bonds and uses the proceeds to buy longer-dated ones, twisting the curve by pushing long-term yields down while letting short-term ones drift up.
Unlike quantitative easing, it does not expand the balance sheet; it just changes the mix of what the central bank holds. The aim is to lower long-term borrowing costs, mortgages and business loans, to support the economy.
Example: The Fed first used the tactic in the 1960s and revived it in 2011, selling short-term Treasuries and buying long-term ones to drag down long-dated yields when its key short-term rate was already near zero and could go no lower. For a bond trader, the announcement meant one thing: expect the long end of the curve to rally and the gap between short and long yields to narrow, exactly the twist the name describes.
Option expiry date/price
An open position is any trade you are still in, live and exposed to the market’s every move. The moment you buy or sell and have not yet closed out, you hold an open position, and its value rises and falls with the price until you finally exit by doing the opposite trade.
Open positions are where all the risk lives; they gain and lose money in real time, tie up margin, and can trigger a margin call if they move too far against you.
Example: A trader buys ten thousand euros against the dollar and does nothing else. That is an open position, and its profit or loss swings with every tick of EUR/USD, showing up as unrealised gains or losses in her account. Only when she sells those euros back does the position close, locking in the result; until then it stays open, and anything can still happen to it while the market is trading.
Options
Options are contracts that hand you the right, but never the obligation, to buy or sell something at a fixed price before a deadline. That single feature, choice without commitment, is what makes them so versatile. A call is the right to buy, a put the right to sell, and traders use them for wildly different ends: to speculate with limited downside, to hedge existing positions against a nasty move, or to earn income by selling them to others.
This entry overlaps with the options contract heading elsewhere on the sheet.
Example: An investor nervous that her stock portfolio might tumble buys put options as insurance; if the market crashes, the puts gain value and cushion the blow, and if it does not, she loses only the modest premium, much like paying for a policy she hopes never to claim on. Another trader, meanwhile, sells options to collect those premiums, betting the feared move will not happen and pocketing the payment if he turns out to be right.
Options contract
Every option comes with an expiry, the date on which it dies, and a price, the strike that decides whether it was worth anything. The expiry date is the deadline: after it passes, the option ceases to exist and can no longer be exercised. The strike price is the level at which the holder can buy or sell the underlying, and comparing it to the market price at expiry determines the payoff.
Get both in view and you know exactly what an option needs to do, and by when.
Example: A trader holds a call option with a strike price of 100 and an expiry date at month’s end. For it to pay off, the underlying must be trading above 100 by that date; if it closes the final day at 105, the option is worth 5 and she exercises or sells it, but if it languishes at 98 when expiry arrives, the option expires worthless and her entire premium is gone.
Options Skew
Options skew describes how the implied volatility priced into options changes depending on the strike. In a perfect textbook world, every strike on the same underlying would carry the same implied volatility; in reality it does not, and the pattern of those differences is the skew.
In equity markets, out-of-the-money puts, the ones that pay off in a crash, usually cost more in implied-volatility terms than equivalent calls, because investors will pay up for downside protection. Fear has a price, and skew is where you see it.
Example: A trader studying options on a stock index notices that puts well below the current price carry a much higher implied volatility than calls the same distance above it, a pronounced downside skew. He reads it as the market pricing in more fear of a sharp fall than hope of a sharp rally, a lopsidedness that itself becomes a signal about sentiment and about how expensive it has become to hedge against a sell-off.
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