期权聚焦 | 阿里巴巴47万美元买入2026年12月100美元Put,中长期虚值看空押注浮现,市场情绪转谨慎?

期权女巫
Sep 24

阿里巴巴收报110.80美元,下跌4.74%。

当日一笔约47.12万美元的中长期虚值看跌期权大单引发关注,资金通过买入2026年12月到期的100美元Put表达偏空观点,整体大单情绪明显倾向谨慎。

期权指标分析

阿里巴巴当前隐含波动率为43.79%,IV百分位为33.47%,处于中性区间,说明当前期权隐含波动水平不算极端,整体定价处于相对合理水平。结合IV/HV比率1.41来看,隐含波动率高于历史波动率,表明期权价格中仍计入了一定的波动溢价。Call/Put成交量比为2.75。

大单交易

一笔规模达47.12万美元的PUT买入,锁定在2026-12-18到期的100.0行权价,共计1250张。该笔合约对应当前股价111.63处于虚值状态,体现出资金在相对更低价位布局下行保护或方向性看空押注,反映出交易者对阿里巴巴中长期股价表现持谨慎甚至偏空判断。整体来看,阿里巴巴当日大单情绪明显偏空,资金几乎完全由看空方向主导。结合展示大单来看,主导性资金选择通过中长期虚值PUT买入表达观点,说明市场更倾向于押注后续股价走弱,或提前为潜在回撤进行防御性配置,整体情绪呈现明确的谨慎偏空特征。

策略参考

对于卖方而言,若不愿承担过多保证金,可考虑选择更低行权价的虚值PUT进行卖出,或构建熊市看跌价差以控制风险。

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