What are option holders and writers?
What are option holders and writers?
Please stay with us for more on options basics!By Bayo
作者：巴約
We are hoping this to be an easy and simple lesson to introduce options to you. By following Options Basics' articles, you should be able to understand options and how to utilize options to either profit or protect your stock.
我們希望這是一節簡單易學的課程，可以向您介紹各種選項。通過閲讀期權基礎知識的文章，你應該能夠理解期權，以及如何利用期權獲利或保護你的股票。
Welcome to the world of options, and firstly you need to know both parties of options trading.
歡迎來到期權的世界，首先你需要了解期權交易的雙方。
Option holder
期權持有者
The option holder also called the buyer, is the party who has a long position in the option and owns the right inherent in the contract.
期權持有者也被稱為買方，是當事人。誰在期權中持有多頭頭寸，並擁有合同中固有的權利。
However, the right doesn't last forever, as at some point the option will expire. At expiration, the owner may exercise the right or, if the option has no value to the holder, let it expire without exercising it.
然而，這一權利不會永遠存在，因為在某個時候，選擇權將會到期。期滿時，所有人可以行使權利，或者，如果期權對持有人沒有價值，就讓它到期而不行使它。
Owning an option represents strictly the right either to buy the stock or to sell it, depending on whether it's a call or a put. It means you can not own some of the shareholder ownership rights, such as receiving dividends and having voting rights.
擁有期權嚴格地代表着買入或賣出股票的權利，這取決於它是看漲還是看跌。這意味着你不能擁有一些股東所有權，比如獲得股息和投票權。
Option writer
期權寫入者
The option writer also called the seller, is the party who has a short position and incurs an obligation to potentially either buy or sell the stock.
期權持有人也被稱為賣方，是當事人。持有空頭頭寸，並有可能買入或賣出股票的義務。
When a trader who is long an option exercises, a trader with a short position needs to fulfill its obligation that was established when the contract was sold.
當做多期權的交易員行使期權時，持有空頭頭寸的交易員需要履行在賣出合約時確立的義務。
Shorting an option is fundamentally different from shorting a stock. Shorting a stock must establishing a short position while in an option does not require borrowing.
做空期權與做空股票有着根本的不同。做空一隻股票必須建立空頭頭寸，而在期權中不需要借款。
Please stay with us for more on options basics!
請繼續關注我們，瞭解更多選項基礎知識！
If there is anything that you didn't understand in today's Options Basics article, simply leave a comment below and we will try to explain more to you!
如果你在今天的期權基礎文章中有什麼不明白的地方，只需在下面留言，我們會盡力為你解釋更多！