期权的滚动交易是什么意思？

Core Viewpoint - The article discusses three types of rolling trades in options trading, emphasizing their benefits and strategies for managing risk and enhancing profitability. Group 1: Types of Rolling Trades - Position adjustment is the most common rolling trade method, allowing traders to manage risk by rolling up to higher strike call options as the market rises [1] - Staggered layout involves creating multiple calendar spreads at different price levels and time points, which can offset gains and losses, providing a hedging effect [2] - Exercising options can transform them into futures, allowing continued market participation through new options strategies after the initial options expire [3] Group 2: Advantages of Rolling Trades - Rolling trades reduce dependence on market conditions, as they are inherently hedging strategies that allow for profit even amidst market fluctuations [6] - They serve as an alternative to stop-loss strategies, enabling risk mitigation through continuous position adjustments rather than strict loss limits [7] - Dynamic risk diversification is achieved through phased investments based on market changes, enhancing capital efficiency and reducing the risk of large initial investments [8]