{"id":1216,"date":"2025-08-16T10:32:27","date_gmt":"2025-08-16T07:02:27","guid":{"rendered":"https:\/\/bambo.fund\/blog\/?p=1216"},"modified":"2025-10-06T14:49:21","modified_gmt":"2025-10-06T11:19:21","slug":"transaction-option","status":"publish","type":"post","link":"https:\/\/bambo.fund\/blog\/transaction-option\/","title":{"rendered":"\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647"},"content":{"rendered":"<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0686\u0631\u0627 \u00ab\u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647\u00bb \u062f\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u0647\u0645 \u0627\u0633\u062a\u061f<\/strong><\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 (Options) \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0628\u0647 \u062e\u0631\u06cc\u062f\u0627\u0631 \u062d\u0642 (\u0648 \u0646\u0647 \u0627\u0644\u0632\u0627\u0645) \u062e\u0631\u06cc\u062f \u06cc\u0627 \u0641\u0631\u0648\u0634 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062f\u0631 \u0642\u06cc\u0645\u062a \u0645\u0634\u062e\u0635 (\u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644) \u062a\u0627 \u0633\u0631\u0631\u0633\u06cc\u062f \u06cc\u0627 \u062f\u0631 \u0631\u0648\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f \u0645\u06cc\u200c\u062f\u0647\u062f. \u0627\u0645\u0627 \u0622\u0646\u0686\u0647 \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u062a\u0627\u0632\u0647\u200c\u0648\u0627\u0631\u062f \u0631\u0627 \u063a\u0627\u0641\u0644\u06af\u06cc\u0631 \u0645\u06cc\u200c\u06a9\u0646\u062f\u060c \u00ab\u0646\u062d\u0648\u0647\u0654 \u062a\u0633\u0648\u06cc\u0647\u00bb \u067e\u0633 \u0627\u0632 \u0627\u0639\u0645\u0627\u0644 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0633\u062a. \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647 \u062a\u0639\u06cc\u06cc\u0646 \u0645\u06cc\u200c\u06a9\u0646\u062f \u062f\u0631 \u067e\u0627\u06cc\u0627\u0646 \u0628\u0627\u0632\u06cc\u060c \u0686\u0647 \u0686\u06cc\u0632\u06cc \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f: \u067e\u0648\u0644 \u06cc\u0627 \u062e\u0648\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647. \u0627\u06cc\u0646 \u062a\u0641\u0627\u0648\u062a \u0631\u0648\u06cc \u0646\u06cc\u0627\u0632\u0647\u0627\u06cc \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc\u060c \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9\u060c \u0641\u0631\u0627\u06cc\u0646\u062f\u0647\u0627\u06cc \u067e\u0634\u062a\u06cc (Back Office)\u060c \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0627\u062c\u0631\u0627\u06cc\u06cc\u060c \u0648 \u062d\u062a\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u200c\u0647\u0627\u06cc \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u0627\u062b\u0631 \u0645\u0633\u062a\u0642\u06cc\u0645 \u0645\u06cc\u200c\u06af\u0630\u0627\u0631\u062f.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0628\u0647\u200c\u0637\u0648\u0631 \u06a9\u0644\u06cc \u062f\u0648 \u0627\u0644\u06af\u0648\u06cc \u062a\u0633\u0648\u06cc\u0647 \u062f\u0627\u0631\u06cc\u0645:<\/p>\n<ol dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><strong> (Cash Settlement)<\/strong><\/li>\n<li><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong> (Physical Settlement)<\/strong><\/li>\n<\/ol>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u0627\u062f\u0627\u0645\u0647\u060c \u0647\u0631 \u06a9\u062f\u0627\u0645 \u0631\u0627 \u062f\u0642\u06cc\u0642 \u062a\u0639\u0631\u06cc\u0641 \u0645\u06cc\u200c\u06a9\u0646\u06cc\u0645\u060c \u0641\u0631\u0645\u0648\u0644\u200c\u0647\u0627\u06cc \u0628\u0631\u062f\u0627\u0634\u062a \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u0631\u0627 \u0645\u0631\u0648\u0631 \u0645\u06cc\u200c\u06a9\u0646\u06cc\u0645\u060c \u0628\u0627 \u0645\u062b\u0627\u0644 \u062c\u0644\u0648 \u0645\u06cc\u200c\u0631\u0648\u06cc\u0645\u060c \u0648 \u0646\u06a9\u0627\u062a \u0627\u062c\u0631\u0627\u06cc\u06cc \u062f\u0631 \u0628\u0627\u0632\u0627\u0631 \u0627\u06cc\u0631\u0627\u0646 \u0631\u0627 \u06cc\u0627\u062f\u0622\u0648\u0631 \u0645\u06cc\u200c\u0634\u0648\u06cc\u0645.<\/p>\n<p dir=\"rtl\"><a href=\"https:\/\/bambo.fund\/auth\/login\"><img decoding=\"async\" class=\"aligncenter wp-image-1138 size-full\" src=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png\" alt=\"\u0634\u0631\u0648\u0639 \u0631\u0627\u06cc\u06af\u0627\u0646 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646\" width=\"347\" height=\"66\" srcset=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png 347w, https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3-320x61.png 320w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/a><\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><strong> (Cash Settlement)<\/strong><\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc\u060c \u062f\u0631 \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644\/\u0633\u0631\u0631\u0633\u06cc\u062f\u060c \u0628\u0647\u200c\u062c\u0627\u06cc \u0627\u0646\u062a\u0642\u0627\u0644 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 (\u0645\u062b\u0644\u0627\u064b \u0633\u0647\u0627\u0645)\u060c \u0635\u0631\u0641\u0627\u064b \u00ab\u0627\u062e\u062a\u0644\u0627\u0641 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc\u00bb \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0628\u0627 \u067e\u0648\u0644 \u062a\u0633\u0648\u06cc\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f. \u06cc\u0639\u0646\u06cc \u0627\u06af\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc \u0645\u062b\u0628\u062a \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f\u060c \u062e\u0631\u06cc\u062f\u0627\u0631 \u0645\u0628\u0644\u063a\u06cc \u0645\u0639\u0627\u062f\u0644 \u0633\u0648\u062f \u0630\u0627\u062a\u06cc \u062f\u0631\u06cc\u0627\u0641\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0647\u0645\u0627\u0646 \u0645\u0628\u0644\u063a \u0631\u0627 \u0645\u06cc\u200c\u067e\u0631\u062f\u0627\u0632\u062f\u061b \u0627\u06af\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0628\u06cc\u200c\u0627\u0631\u0632\u0634 \u0634\u0648\u062f (Out-of-the-Money)\u060c \u062a\u0633\u0648\u06cc\u0647\u200c\u0627\u06cc \u0631\u062e \u0646\u0645\u06cc\u200c\u062f\u0647\u062f.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0641\u0631\u0645\u0648\u0644 \u06a9\u0644\u06cc \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f<\/strong><strong> (Call):<\/strong><br \/>\n\u0633\u0648\u062f \u062e\u0631\u06cc\u062f\u0627\u0631 \u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc = max\u2061(ST\u2212K,0)\\max(S_T &#8211; K, 0) \u00d7 \u0627\u0646\u062f\u0627\u0632\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u2212 \u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627<br \/>\n\u0633\u0648\u062f \u0641\u0631\u0648\u0634\u0646\u062f\u0647 = \u0645\u0639\u06a9\u0648\u0633 \u0622\u0646 (\u0628\u0647\u200c\u0627\u0636\u0627\u0641\u0647\u0654 \u062d\u0642\u200c\u0628\u06cc\u0645\u0647 \u062f\u0631\u06cc\u0627\u0641\u062a\u06cc \u06a9\u0647 \u0642\u0628\u0644\u0627\u064b \u06af\u0631\u0641\u062a\u0647 \u0627\u0633\u062a)<\/li>\n<li><strong>\u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634<\/strong><strong> (Put):<\/strong><br \/>\n\u0633\u0648\u062f \u062e\u0631\u06cc\u062f\u0627\u0631 = max\u2061(K\u2212ST,0)\\max(K &#8211; S_T, 0) \u00d7 \u0627\u0646\u062f\u0627\u0632\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u2212 \u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u0627\u06cc\u0646\u062c\u0627 STS_T \u0642\u06cc\u0645\u062a \u067e\u0627\u06cc\u0627\u0646\u06cc\/\u0645\u0631\u062c\u0639 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f \u0648 KK \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0627\u0633\u062a.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0646\u06a9\u062a\u0647: \u062f\u0631 \u0628\u0648\u0631\u0633 \u0627\u06cc\u0631\u0627\u0646\u060c \u00ab\u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u0628\u0631\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647\u00bb \u0645\u0637\u0627\u0628\u0642 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627\u06cc \u0628\u0648\u0631\u0633\/\u0641\u0631\u0627\u0628\u0648\u0631\u0633 \u062a\u0639\u0631\u06cc\u0641 \u0645\u06cc\u200c\u0634\u0648\u062f (\u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0642\u06cc\u0645\u062a \u067e\u0627\u06cc\u0627\u0646\u06cc \u06cc\u0627 \u0642\u06cc\u0645\u062a \u0646\u0638\u0631\u06cc\/\u0645\u0631\u062c\u0639 \u0627\u0639\u0644\u0627\u0645\u06cc \u0628\u0631\u0627\u06cc \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644). \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631 \u0628\u0627\u06cc\u062f \u0642\u0628\u0644 \u0627\u0632 \u0648\u0631\u0648\u062f\u060c \u0645\u0634\u062e\u0635\u0627\u062a \u0646\u0645\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 (\u0628\u0631\u06af\u0647 \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f) \u0631\u0627 \u0628\u0628\u06cc\u0646\u062f \u062a\u0627 \u0628\u062f\u0627\u0646\u062f \u0645\u0644\u0627\u06a9 \u062a\u0633\u0648\u06cc\u0647 \u062f\u0642\u06cc\u0642\u0627\u064b \u0686\u06cc\u0633\u062a.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u062b\u0627\u0644 \u0639\u062f\u062f\u06cc(<\/strong> <strong>Call<\/strong><strong>\u060c \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc)<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f\u06cc \u0631\u0648\u06cc \u0633\u0647\u0645 X \u0628\u0627 K=10,000K=10{,}000 \u0631\u06cc\u0627\u0644 \u062e\u0631\u06cc\u062f\u0647\u200c\u0627\u06cc\u062f\u060c \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u06f1\u066c\u06f0\u06f0\u06f0 \u0633\u0647\u0645 \u0627\u0633\u062a. \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f\u060c ST=11,200S_T=11{,}200 \u0631\u06cc\u0627\u0644.<br \/>\n\u0633\u0648\u062f \u0646\u0642\u062f\u06cc = (11,200\u221210,000)\u00d71,000=1,200,000(11{,}200 &#8211; 10{,}000) \\times 1{,}000 = 1{,}200{,}000 \u0631\u06cc\u0627\u0644.<br \/>\n\u0627\u06af\u0631 \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0642\u0628\u0644\u0627\u064b \u06f4\u06f0\u06f0\u066c\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644 \u067e\u0631\u0645\u06cc\u0648\u0645 \u067e\u0631\u062f\u0627\u062e\u062a \u06a9\u0631\u062f\u0647 \u0628\u0627\u0634\u06cc\u062f\u060c \u0633\u0648\u062f \u062e\u0627\u0644\u0635 \u2248 \u06f8\u06f0\u06f0\u066c\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644 (\u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627 \u0633\u0627\u062f\u0647\u200c\u0633\u0627\u0632\u06cc \u0634\u062f\u0647\u200c\u0627\u0646\u062f).<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0632\u06cc\u062a\u200c\u0647\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u067e\u06cc\u0634\u200c\u0628\u06cc\u0646\u06cc\u200c\u067e\u0630\u06cc\u0631<\/strong><strong>:<\/strong> \u0634\u0645\u0627 \u0644\u0627\u0632\u0645 \u0646\u06cc\u0633\u062a \u062f\u0631 \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644 \u0628\u0647\u200c\u062f\u0646\u0628\u0627\u0644 \u062a\u062f\u0627\u0631\u06a9 \u0633\u0647\u0645 \u06cc\u0627 \u0631\u0642\u0645 \u062f\u0631\u0634\u062a \u0646\u0642\u062f \u0628\u0627\u0634\u06cc\u062f\u061b \u0627\u062e\u062a\u0644\u0627\u0641\u060c \u0646\u0642\u062f\u06cc \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/li>\n<li><strong>\u0627\u062c\u0631\u0627\u06cc \u0633\u0627\u062f\u0647<\/strong><strong>:<\/strong> \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc (\u0645\u0627\u0646\u0646\u062f \u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc \u0633\u0647\u0645 \u0628\u0631\u0627\u06cc \u062a\u062d\u0648\u06cc\u0644) \u06a9\u0627\u0647\u0634 \u0645\u06cc\u200c\u06cc\u0627\u0628\u062f.<\/li>\n<li><strong>\u0645\u0646\u0627\u0633\u0628 \u0628\u0631\u0627\u06cc \u067e\u0648\u0634\u0634 \u0634\u0627\u062e\u0635\u200c\u0647\u0627\/\u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u062f\u0634\u0648\u0627\u0631 \u0628\u0631\u0627\u06cc \u062a\u062d\u0648\u06cc\u0644<\/strong><strong>:<\/strong> \u062f\u0631 \u062f\u0646\u06cc\u0627\u060c \u0627\u062e\u062a\u06cc\u0627\u0631\u0647\u0627\u06cc \u0645\u0628\u062a\u0646\u06cc \u0628\u0631 \u0634\u0627\u062e\u0635\u200c\u0647\u0627 \u063a\u0627\u0644\u0628\u0627\u064b \u0646\u0642\u062f\u06cc \u062a\u0633\u0648\u06cc\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f.<\/li>\n<\/ul>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0639\u0627\u06cc\u0628 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0639\u062f\u0645 \u062f\u0631\u06cc\u0627\u0641\u062a\/\u0648\u0627\u06af\u0630\u0627\u0631\u06cc \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0633\u0647\u0645<\/strong><strong>:<\/strong> \u0627\u06af\u0631 \u0631\u0627\u0647\u0628\u0631\u062f \u0634\u0645\u0627 \u0627\u0642\u062a\u0636\u0627 \u0645\u06cc\u200c\u06a9\u0646\u062f \u062f\u0631 \u067e\u0627\u06cc\u0627\u0646 \u0648\u0627\u0642\u0639\u0627\u064b \u0633\u0647\u0627\u0645 \u0631\u0627 \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u06cc\u062f (\u0645\u062b\u0644\u0627\u064b \u0628\u0631\u0627\u06cc \u062f\u0631\u06cc\u0627\u0641\u062a \u0633\u0648\u062f \u0646\u0642\u062f\u06cc \u06cc\u0627 \u062d\u0642\u0648\u0642 \u062a\u0642\u062f\u0645)\u060c \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u0627\u06cc\u0646 \u0627\u0645\u06a9\u0627\u0646 \u0631\u0627 \u0628\u0647\u200c\u0637\u0648\u0631 \u0645\u0633\u062a\u0642\u06cc\u0645 \u0646\u0645\u06cc\u200c\u062f\u0647\u062f.<\/li>\n<li><strong>\u0648\u0627\u0628\u0633\u062a\u06af\u06cc \u0628\u0647 \u00ab\u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639\u00bb \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644<\/strong><strong>:<\/strong> \u06cc\u06a9 \u0642\u06cc\u0645\u062a\u200c\u06af\u0630\u0627\u0631\u06cc \u062e\u0627\u0635 (\u067e\u0627\u06cc\u0627\u0646\u06cc\/\u0645\u06cc\u0627\u0646\u06af\u06cc\u0646) \u0645\u0628\u0646\u0627\u0633\u062a\u061b \u0627\u06af\u0631 \u062f\u0631 \u0622\u062e\u0631\u06cc\u0646 \u062f\u0642\u0627\u06cc\u0642 \u0646\u0648\u0633\u0627\u0646\u0627\u062a \u063a\u06cc\u0631\u0639\u0627\u062f\u06cc \u0631\u062e \u062f\u0647\u062f\u060c \u0646\u062a\u06cc\u062c\u0647\u0654 \u062a\u0633\u0648\u06cc\u0647 \u062a\u063a\u06cc\u06cc\u0631 \u0645\u06cc\u200c\u06a9\u0646\u062f.<\/li>\n<\/ul>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong> (Physical Settlement)<\/strong><\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u060c \u067e\u0633 \u0627\u0632 \u0627\u0639\u0645\u0627\u0644\u060c \u062e\u0648\u062f\u0650 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f: \u062e\u0631\u06cc\u062f\u0627\u0631 \u00ab\u06a9\u0627\u0644\u00bb \u062d\u0642 \u062f\u0627\u0631\u062f \u0633\u0647\u0645 \u0631\u0627 \u0628\u0627 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0627\u0632 \u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u06a9\u0646\u062f \u0648 \u062e\u0631\u06cc\u062f\u0627\u0631 \u00ab\u067e\u0648\u062a\u00bb \u062d\u0642 \u062f\u0627\u0631\u062f \u0633\u0647\u0645 \u0631\u0627 \u0628\u0627 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0628\u0647 \u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0628\u0641\u0631\u0648\u0634\u062f. \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646 \u0637\u0631\u0641\u06cc\u0646 \u0628\u0627\u06cc\u062f \u0628\u0631\u0627\u06cc \u062a\u062d\u0648\u06cc\u0644\/\u062f\u0631\u06cc\u0627\u0641\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u0648 \u0648\u062c\u0647 \u0645\u0639\u0627\u062f\u0644 \u0622\u0646 \u0622\u0645\u0627\u062f\u0647 \u0628\u0627\u0634\u0646\u062f.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0641\u0631\u0645\u0648\u0644 \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f (\u062f\u06cc\u062f\u06af\u0627\u0647 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc)<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u06a9\u0627\u0644<\/strong><strong> (Long Call):<\/strong><br \/>\n\u0627\u06af\u0631 ST&gt;KS_T &gt; K \u0627\u0639\u0645\u0627\u0644 \u0645\u06cc\u200c\u06a9\u0646\u06cc\u062f\u060c \u0633\u0647\u0645 \u0631\u0627 \u0628\u0647 KK \u0645\u06cc\u200c\u062e\u0631\u06cc\u062f\u061b \u0627\u0631\u0632\u0634 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u0644\u062d\u0638\u0647\u200c\u0627\u06cc \u0634\u0645\u0627 ST\u2212KS_T &#8211; K \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u0627\u0633\u062a.<\/li>\n<li><strong>\u067e\u0648\u062a<\/strong><strong> (Long Put):<\/strong><br \/>\n\u0627\u06af\u0631 ST&lt;KS_T &lt; K \u0627\u0639\u0645\u0627\u0644 \u0645\u06cc\u200c\u06a9\u0646\u06cc\u062f\u060c \u0633\u0647\u0645 \u0631\u0627 \u0628\u0647 KK \u0645\u06cc\u200c\u0641\u0631\u0648\u0634\u06cc\u062f\u061b \u0627\u0631\u0632\u0634 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u0634\u0645\u0627 K\u2212STK &#8211; S_T \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u0627\u0633\u062a.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062a\u0641\u0627\u0648\u062a \u0628\u0627 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u062f\u0631 \u00ab\u0641\u0631\u0627\u06cc\u0646\u062f\u00bb \u0627\u0633\u062a: \u0627\u06cc\u0646\u200c\u062c\u0627 \u067e\u0633 \u0627\u0632 \u0627\u0639\u0645\u0627\u0644\u060c \u0648\u0627\u0642\u0639\u0627\u064b \u0645\u0648\u0642\u0639\u06cc\u062a \u0633\u0647\u0627\u0645\u06cc \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0648\u062c\u0648\u0647 \u0645\u0637\u0627\u0628\u0642 \u0631\u0648\u06cc\u0647\u200c\u0647\u0627\u06cc \u0634\u0631\u06a9\u062a \u0633\u067e\u0631\u062f\u0647\u200c\u06af\u0630\u0627\u0631\u06cc\/\u0627\u062a\u0627\u0642 \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u062b\u0627\u0644 \u0639\u062f\u062f\u06cc<\/strong> <strong>(<\/strong><strong>Put<\/strong><strong>\u060c \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc)<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634 \u0628\u0627 K=10,000K=10{,}000 \u0631\u06cc\u0627\u0644 \u0648 \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u06f1\u066c\u06f0\u06f0\u06f0 \u0633\u0647\u0645 \u062f\u0627\u0631\u06cc\u062f \u0648 ST=8,700S_T=8{,}700 \u0631\u06cc\u0627\u0644. \u0628\u0627 \u0627\u0639\u0645\u0627\u0644 \u067e\u0648\u062a\u060c \u0634\u0645\u0627 \u06f1\u066c\u06f0\u06f0\u06f0 \u0633\u0647\u0645 \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a \u06f1\u06f0\u066c\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644 \u062a\u062d\u0648\u06cc\u0644 \u0645\u06cc\u200c\u062f\u0647\u06cc\u062f \u0648 \u06f1\u06f0 \u0645\u06cc\u0644\u06cc\u0648\u0646 \u0631\u06cc\u0627\u0644 \u062f\u0631\u06cc\u0627\u0641\u062a \u0645\u06cc\u200c\u06a9\u0646\u06cc\u062f. \u062f\u0631 \u0639\u0645\u0644\u060c \u06f1\u066b\u06f3 \u0645\u06cc\u0644\u06cc\u0648\u0646 \u0631\u06cc\u0627\u0644 \u00ab\u0627\u0631\u0632\u0634 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc\u00bb \u0627\u06cc\u062c\u0627\u062f \u06a9\u0631\u062f\u0647\u200c\u0627\u06cc\u062f (\u0642\u0628\u0644 \u0627\u0632 \u067e\u0631\u0645\u06cc\u0648\u0645 \u0648 \u06a9\u0627\u0631\u0645\u0632\u062f). \u0627\u06af\u0631 \u0642\u0628\u0644\u0627\u064b \u0628\u0631\u0627\u06cc \u067e\u0648\u062a\u060c \u06f3\u06f0\u06f0\u066c\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644 \u067e\u0631\u0645\u06cc\u0648\u0645 \u062f\u0627\u062f\u0647 \u0628\u0648\u062f\u06cc\u062f\u060c \u0633\u0648\u062f \u062e\u0627\u0644\u0635 \u2248 \u06f1\u066c\u06f0\u06f0\u06f0\u066c\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0632\u06cc\u062a\u200c\u0647\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u062f\u0633\u062a\u06cc\u0627\u0628\u06cc \u0648\u0627\u0642\u0639\u06cc \u0628\u0647 \u0633\u0647\u0645 \u06cc\u0627 \u062e\u0631\u0648\u062c \u0648\u0627\u0642\u0639\u06cc \u0627\u0632 \u0622\u0646<\/strong><strong>:<\/strong> \u0628\u0631\u0627\u06cc \u0631\u0627\u0647\u0628\u0631\u062f\u0647\u0627\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc\/\u067e\u0631\u062a\u0641\u0648\u06cc \u0628\u0633\u06cc\u0627\u0631 \u0627\u0631\u0632\u0634\u0645\u0646\u062f \u0627\u0633\u062a (\u0645\u062b\u0644\u0627\u064b \u0627\u062c\u0631\u0627\u06cc \u06a9\u0627\u0648\u0631\u062f\u06a9\u0627\u0644 \u0648 \u062a\u062d\u0648\u06cc\u0644 \u0633\u0647\u0645).<\/li>\n<li><strong>\u06a9\u0646\u062a\u0631\u0644 \u067e\u0633 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong><strong>:<\/strong> \u0627\u06af\u0631 \u0633\u0647\u0645 \u0631\u0627 \u0645\u06cc\u200c\u06af\u06cc\u0631\u06cc\u062f \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u06cc\u062f \u0646\u06af\u0647\u062f\u0627\u0631\u06cc \u06a9\u0646\u06cc\u062f\u060c \u0628\u0641\u0631\u0648\u0634\u06cc\u062f\u060c \u0648\u062b\u06cc\u0642\u0647 \u06a9\u0646\u06cc\u062f \u06cc\u0627 \u0628\u0631\u0627\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u200c\u0647\u0627\u06cc \u0628\u0639\u062f\u06cc \u0628\u0647\u200c\u06a9\u0627\u0631 \u0628\u0628\u0631\u06cc\u062f.<\/li>\n<\/ul>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0639\u0627\u06cc\u0628 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0646\u06cc\u0627\u0632 \u0628\u0647 \u0645\u0648\u062c\u0648\u062f\u06cc\/\u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u06a9\u0627\u0641\u06cc<\/strong><strong>:<\/strong> \u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u06a9\u0627\u0644 \u0628\u0627\u06cc\u062f \u0627\u062d\u062a\u0645\u0627\u0644 \u062a\u062d\u0648\u06cc\u0644 \u0633\u0647\u0645 \u0631\u0627 \u067e\u0648\u0634\u0634 \u062f\u0647\u062f (\u062a\u0631\u062c\u06cc\u062d\u0627\u064b Covered \u0628\u0627\u0634\u062f)\u060c \u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u067e\u0648\u062a \u0628\u0627\u06cc\u062f \u062a\u0648\u0627\u0646 \u062e\u0631\u06cc\u062f \u0633\u0647\u0645 \u0631\u0627 \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f.<\/li>\n<li><strong>\u0631\u06cc\u0633\u06a9 \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc \u0648 \u062c\u0631\u06cc\u0645\u0647\u200c\u0647\u0627<\/strong><strong>:<\/strong> \u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc \u062f\u0631 \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0646\u062c\u0631 \u0628\u0647 \u0646\u0642\u0636 \u062a\u0639\u0647\u062f\u0627\u062a\u060c \u0647\u0632\u06cc\u0646\u0647\u200c\u0647\u0627\u06cc \u0627\u0636\u0627\u0641\u0647 \u06cc\u0627 \u0645\u062d\u062f\u0648\u062f\u06cc\u062a\u200c\u0647\u0627\u06cc \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u0634\u0648\u062f.<\/li>\n<\/ul>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0627\u062c\u0632\u0627\u06cc \u06a9\u0644\u06cc\u062f\u06cc \u062f\u0631 \u0628\u0627\u0632\u0627\u0631 \u0627\u06cc\u0631\u0627\u0646<\/strong><\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0647\u0634\u062f\u0627\u0631 \u062f\u0648\u0633\u062a\u0627\u0646\u0647: \u062c\u0632\u0626\u06cc\u0627\u062a \u062f\u0642\u06cc\u0642 \u0627\u062c\u0631\u0627\u06cc\u06cc (\u0646\u062d\u0648\u0647\u0654 \u0627\u0639\u0644\u0627\u0645 \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644\u060c \u067e\u0646\u062c\u0631\u0647\u0654 \u0632\u0645\u0627\u0646\u06cc \u062b\u0628\u062a \u0627\u0639\u0645\u0627\u0644\u060c \u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u062a\u0633\u0648\u06cc\u0647\u060c \u0641\u0631\u0627\u06cc\u0646\u062f \u062a\u062e\u0635\u06cc\u0635\u060c \u0648 \u0645\u0647\u0644\u062a \u062a\u0623\u0645\u06cc\u0646 \u0648\u062c\u0647\/\u0633\u0647\u0645) \u062f\u0631 \u00ab\u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u00bb \u0647\u0631 \u0646\u0645\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0648 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627\u06cc \u0641\u0639\u0644\u06cc \u0628\u0648\u0631\u0633\/\u0641\u0631\u0627\u0628\u0648\u0631\u0633 \u062a\u0639\u06cc\u06cc\u0646 \u0645\u06cc\u200c\u0634\u0648\u062f. \u067e\u06cc\u0634 \u0627\u0632 \u0645\u0639\u0627\u0645\u0644\u0647\u060c \u062d\u062a\u0645\u0627\u064b \u0628\u0631\u06af\u0647\u0654 \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0631\u0627 \u0645\u0637\u0627\u0644\u0639\u0647 \u06a9\u0646\u06cc\u062f.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>1)\u00ab\u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644\u00bb \u0648 \u00ab\u0641\u0631\u0635\u062a \u062b\u0628\u062a \u062f\u0631\u062e\u0648\u0627\u0633\u062a\u00bb<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0628\u0631\u0627\u06cc \u0627\u0639\u0645\u0627\u0644\u060c \u0628\u0627\u06cc\u062f <strong>\u062f\u0631 \u0628\u0627\u0632\u0647<\/strong><strong>\u0654<\/strong><strong> \u0632\u0645\u0627\u0646\u06cc \u0645\u0634\u062e\u0635\u06cc<\/strong> \u0627\u0632 \u0637\u0631\u06cc\u0642 \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\/\u0633\u0627\u0645\u0627\u0646\u0647 \u0622\u0646\u0644\u0627\u06cc\u0646 \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644 \u062b\u0628\u062a \u06a9\u0646\u06cc\u062f (\u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f\u0627\u0631)\u060c \u06cc\u0627 \u0622\u0645\u0627\u062f\u06af\u06cc \u0627\u06cc\u0641\u0627\u06cc \u062a\u0639\u0647\u062f (\u0628\u0631\u0627\u06cc \u0641\u0631\u0648\u0634\u0646\u062f\u0647) \u0631\u0627 \u0627\u0639\u0644\u0627\u0645\/\u062a\u0623\u0645\u06cc\u0646 \u06a9\u0646\u06cc\u062f.<\/li>\n<li>\u0627\u06af\u0631 \u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u0628\u0627\u0634\u06cc\u062f\u060c \u0628\u0627 \u0645\u062b\u0628\u062a \u0628\u0648\u062f\u0646 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc\u060c \u0627\u0639\u0645\u0627\u0644 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0628\u0647\u200c\u0635\u0648\u0631\u062a \u062e\u0648\u062f\u06a9\u0627\u0631 \u06cc\u0627 \u0645\u0637\u0627\u0628\u0642 \u0631\u0648\u06cc\u0647\u0654 \u0627\u0639\u0644\u0627\u0645\u06cc \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u0634\u0648\u062f. \u062f\u0631 \u0628\u0631\u062e\u06cc \u0645\u0648\u0627\u0631\u062f \u00ab\u0639\u062f\u0645 \u0627\u0639\u0645\u0627\u0644 \u062e\u0648\u062f\u06a9\u0627\u0631\u00bb \u0646\u06cc\u0632 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a\u061b \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646 <strong>\u0628\u0631\u06af\u0647<\/strong><strong>\u0654<\/strong><strong> \u0645\u0634\u062e\u0635\u0627\u062a<\/strong> \u0631\u0627 \u0645\u0644\u0627\u06a9 \u0642\u0631\u0627\u0631 \u062f\u0647\u06cc\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>2)<\/strong> <strong>\u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u062a\u0633\u0648\u06cc\u0647<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc\u060c \u0645\u0628\u0646\u0627\u06cc \u0645\u062d\u0627\u0633\u0628\u0647\u0654 \u0627\u062e\u062a\u0644\u0627\u0641 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u00ab\u0642\u06cc\u0645\u062a \u067e\u0627\u06cc\u0627\u0646\u06cc\/\u0645\u0631\u062c\u0639\u00bb \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644 \u0627\u0633\u062a.<\/li>\n<li>\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u060c \u0645\u0639\u0627\u0645\u0644\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0628\u0631 \u067e\u0627\u06cc\u0647\u0654 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u0627\u0646\u062a\u0642\u0627\u0644 \u0633\u0647\u0645\/\u0648\u062c\u0647 \u0645\u0637\u0627\u0628\u0642 \u0631\u0648\u06cc\u0647\u200c\u0647\u0627\u06cc \u0633\u067e\u0631\u062f\u0647\u200c\u06af\u0630\u0627\u0631\u06cc\/\u0627\u062a\u0627\u0642 \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>3)<\/strong> <strong>\u0627\u0646\u062f\u0627\u0632\u0647<\/strong><strong>\u0654<\/strong><strong> \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0648 \u06af\u0627\u0645 \u0642\u06cc\u0645\u062a\u06cc<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f (\u0645\u062b\u0644\u0627\u064b \u06f1\u066c\u06f0\u06f0\u06f0 \u0633\u0647\u0645) \u0648 \u06af\u0627\u0645\u200c\u0647\u0627\u06cc \u0642\u06cc\u0645\u062a\u06cc \u0627\u0639\u0645\u0627\u0644 \u062f\u0631 \u0645\u0634\u062e\u0635\u0627\u062a \u0647\u0631 \u0646\u0645\u0627\u062f \u062f\u0631\u062c \u0645\u06cc\u200c\u0634\u0648\u062f. \u0627\u06cc\u0646 \u067e\u0627\u0631\u0627\u0645\u062a\u0631\u0647\u0627 \u0631\u0648\u06cc \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u0648 \u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u0627\u062b\u0631 \u062f\u0627\u0631\u0646\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>4)\u0627\u0644\u0632\u0627\u0645\u0627\u062a \u0648\u062c\u0647 \u062a\u0636\u0645\u06cc\u0646 (\u0628\u0631\u0627\u06cc \u0641\u0631\u0648\u0634\u0646\u062f\u06af\u0627\u0646)<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u0627\u062e\u062a\u06cc\u0627\u0631 (\u0646\u0648\u06cc\u0633\u0646\u062f\u0647) \u0628\u0627\u06cc\u062f \u0648\u062c\u0647 \u062a\u0636\u0645\u06cc\u0646\/\u0648\u062b\u06cc\u0642\u0647 \u0644\u0627\u0632\u0645 \u0631\u0627 \u0646\u06af\u0647\u200c\u062f\u0627\u0631\u06cc \u06a9\u0646\u062f. \u062f\u0631 \u0645\u0648\u0627\u0642\u0639 \u0646\u0648\u0633\u0627\u0646 \u0634\u062f\u06cc\u062f \u06cc\u0627 \u0646\u0632\u062f\u06cc\u06a9 \u0633\u0631\u0631\u0633\u06cc\u062f\u060c <strong>\u06a9\u0627\u0644 \u0645\u0627\u0631\u062c\u06cc\u0646<\/strong> \u0645\u062d\u062a\u0645\u0644 \u0627\u0633\u062a.<\/li>\n<li>\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc:\n<ul>\n<li>\u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 <strong>\u06a9\u0627\u0644<\/strong> \u062f\u0631 \u062d\u0627\u0644\u062a <strong>Covered Call<\/strong> \u0628\u0627 \u062f\u0627\u0634\u062a\u0646 \u0633\u0647\u0645\u060c \u0631\u06cc\u0633\u06a9 \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc \u0648 \u0646\u06cc\u0627\u0632 \u0648\u062c\u0647 \u062a\u0636\u0645\u06cc\u0646 \u0631\u0627 \u06a9\u0627\u0647\u0634 \u0645\u06cc\u200c\u062f\u0647\u062f.<\/li>\n<li>\u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 <strong>\u067e\u0648\u062a<\/strong> \u0628\u0627\u06cc\u062f \u062a\u0648\u0627\u0646 \u062e\u0631\u06cc\u062f \u0633\u0647\u0645 \u0631\u0627 \u062f\u0631 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f (\u06cc\u0627 \u0646\u0642\u062f \u06a9\u0627\u0641\u06cc\/\u062a\u0633\u0647\u06cc\u0644\u0627\u062a).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>5)\u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627 \u0648 \u0645\u0627\u0644\u06cc\u0627\u062a<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627\u06cc \u062e\u0631\u06cc\u062f\/\u0641\u0631\u0648\u0634 \u0627\u062e\u062a\u06cc\u0627\u0631\u060c \u0627\u0639\u0645\u0627\u0644\u060c \u0648 \u0627\u0646\u062a\u0642\u0627\u0644 \u0641\u06cc\u0632\u06cc\u06a9\u06cc (\u062f\u0631 \u0635\u0648\u0631\u062a \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc) \u0628\u0627\u06cc\u062f \u067e\u06cc\u0634\u0627\u067e\u06cc\u0634 \u0628\u0631\u0631\u0633\u06cc \u0634\u0648\u062f. \u0646\u0631\u062e\u200c\u0647\u0627 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u062a\u063a\u06cc\u06cc\u0631 \u06a9\u0646\u0646\u062f \u0648 \u0628\u06cc\u0646 \u0628\u0648\u0631\u0633\/\u0641\u0631\u0627\u0628\u0648\u0631\u0633 \u06cc\u0627 \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u0627\u0646 \u062a\u0641\u0627\u0648\u062a\u200c\u0647\u0627\u06cc \u062c\u0632\u0626\u06cc \u0627\u062c\u0631\u0627\u06cc\u06cc \u0648\u062c\u0648\u062f \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f.<\/li>\n<\/ul>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0642\u0627\u06cc\u0633\u0647<\/strong><strong>\u0654<\/strong><strong> \u06a9\u0627\u0631\u0628\u0631\u062f\u06cc &#8211; \u0686\u0647 \u0632\u0645\u0627\u0646\u06cc \u0646\u0642\u062f\u06cc \u0648 \u0686\u0647 \u0632\u0645\u0627\u0646\u06cc \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u061f<\/strong><\/h2>\n<table class=\" alignright\" dir=\"rtl\" style=\"width: 100.599%; height: 147px;\">\n<thead>\n<tr style=\"height: 27px;\">\n<td style=\"width: 23.619%; height: 27px;\"><span style=\"font-size: 14pt;\"><strong>\u0645\u0639\u06cc\u0627\u0631<\/strong><\/span><\/td>\n<td style=\"width: 33.9048%; height: 27px;\"><span style=\"font-size: 14pt;\"><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><\/span><\/td>\n<td style=\"width: 241.872%; height: 27px;\"><span style=\"font-size: 14pt;\"><strong>\u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><\/span><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"width: 23.619%; height: 24px;\">\u0647\u062f\u0641 \u0627\u0635\u0644\u06cc<\/td>\n<td style=\"width: 33.9048%; height: 24px;\">\u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc\/\u067e\u0648\u0634\u0634 \u0628\u062f\u0648\u0646 \u0646\u06cc\u0651\u062a \u062a\u062d\u0648\u06cc\u0644<\/td>\n<td style=\"width: 241.872%; height: 24px;\">\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc\/\u067e\u0648\u0634\u0634 \u0628\u0627 \u0646\u06cc\u0651\u062a \u062a\u062d\u0648\u06cc\u0644 \u0648\u0627\u0642\u0639\u06cc<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 23.619%; height: 24px;\">\u067e\u06cc\u0686\u06cc\u062f\u06af\u06cc \u0627\u062c\u0631\u0627<\/td>\n<td style=\"width: 33.9048%; height: 24px;\">\u067e\u0627\u06cc\u06cc\u0646\u200c\u062a\u0631<\/td>\n<td style=\"width: 241.872%; height: 24px;\">\u0628\u0627\u0644\u0627\u062a\u0631 (\u062a\u0623\u0645\u06cc\u0646 \u0633\u0647\u0645\/\u0648\u062c\u0647)<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 23.619%; height: 24px;\">\u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc<\/td>\n<td style=\"width: 33.9048%; height: 24px;\">\u067e\u06cc\u0634\u200c\u0628\u06cc\u0646\u06cc\u200c\u067e\u0630\u06cc\u0631\u062a\u0631<\/td>\n<td style=\"width: 241.872%; height: 24px;\">\u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0633\u0646\u06af\u06cc\u0646 \u0628\u0627\u0634\u062f<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 23.619%; height: 24px;\">\u0631\u06cc\u0633\u06a9 \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc<\/td>\n<td style=\"width: 33.9048%; height: 24px;\">\u06a9\u0645\u062a\u0631<\/td>\n<td style=\"width: 241.872%; height: 24px;\">\u0628\u06cc\u0634\u062a\u0631 (\u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc\/\u062a\u0627\u062e\u06cc\u0631)<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 23.619%; height: 24px;\">\u0627\u0646\u0639\u0637\u0627\u0641 \u067e\u0633 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/td>\n<td style=\"width: 33.9048%; height: 24px;\">\u0641\u0642\u0637 \u062f\u0631\u06cc\u0627\u0641\u062a\/\u067e\u0631\u062f\u0627\u062e\u062a \u0627\u062e\u062a\u0644\u0627\u0641<\/td>\n<td style=\"width: 241.872%; height: 24px;\">\u0645\u0627\u0644\u06a9\u06cc\u062a\/\u062e\u0631\u0648\u062c \u0648\u0627\u0642\u0639\u06cc \u0627\u0632 \u0633\u0647\u0645<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u0631\u0627\u0647\u0646\u0645\u0627<\/strong><strong>:<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0627\u06af\u0631 \u06cc\u06a9 <strong>\u0647\u062c\u200c\u06a9\u0646\u0646\u062f\u0647<\/strong><strong>\u0654<\/strong><strong> \u067e\u0631\u062a\u0641\u0648\u06cc<\/strong> \u0647\u0633\u062a\u06cc\u062f \u0648 \u0641\u0642\u0637 \u0645\u06cc\u200c\u062e\u0648\u0627\u0647\u06cc\u062f \u062e\u0644\u0627\u0641 \u062c\u0647\u062a \u0631\u06cc\u0633\u06a9 \u062d\u0631\u06a9\u062a \u06a9\u0646\u06cc\u062f\u060c \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u0627\u063a\u0644\u0628 \u06a9\u0627\u0641\u06cc \u0648 \u06a9\u0627\u0631\u0622\u0645\u062f \u0627\u0633\u062a.<\/li>\n<li>\u0627\u06af\u0631 <strong>\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0645\u0628\u062a\u0646\u06cc \u0628\u0631 \u062a\u062d\u0648\u06cc\u0644<\/strong> \u062f\u0627\u0631\u06cc\u062f (\u0645\u062b\u0644 \u0641\u0631\u0648\u0634 \u06a9\u0627\u0644 \u067e\u0648\u0634\u0634\u200c\u062f\u0627\u0631 \u0628\u0631\u0627\u06cc \u0648\u0627\u06af\u0630\u0627\u0631\u06cc \u0633\u0647\u0645 \u062f\u0631 \u0642\u06cc\u0645\u062a\u200c\u0647\u0627\u06cc \u0647\u062f\u0641)\u060c \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062a\u0631\u062c\u06cc\u062d \u062f\u0627\u0631\u062f.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/bambo.fund\/auth\/login\"><img decoding=\"async\" class=\"aligncenter wp-image-1138 size-full\" src=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png\" alt=\"\u0634\u0631\u0648\u0639 \u0631\u0627\u06cc\u06af\u0627\u0646 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646\" width=\"347\" height=\"66\" srcset=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png 347w, https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3-320x61.png 320w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/a><\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u062b\u0627\u0644\u200c\u0647\u0627\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u06a9 \u0628\u0627 \u062a\u0645\u0631\u06a9\u0632 \u0628\u0631 \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647<\/strong><\/h2>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>1)\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u06a9\u0627\u0648\u0631\u062f \u06a9\u0627\u0644<\/strong><strong> (Covered Call) <\/strong><strong>\u0648 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u06a9\u0627\u0648\u0631\u062f \u06a9\u0627\u0644\u00a0\u0634\u0645\u0627 \u06f1\u06f0\u066c\u06f0\u06f0\u06f0 \u0633\u0647\u0645 \u0634\u0631\u06a9\u062a A \u062f\u0627\u0631\u06cc\u062f \u0648 \u0631\u0648\u06cc \u0628\u062e\u0634\u06cc \u0627\u0632 \u0622\u0646 \u06a9\u0627\u0644 \u0645\u06cc\u200c\u0641\u0631\u0648\u0634\u06cc\u062f. \u0627\u06af\u0631 \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f ST&gt;KS_T &gt; K \u0634\u0648\u062f \u0648 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0639\u0645\u0627\u0644 \u0634\u0648\u062f\u060c \u0628\u0627 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u060c \u0633\u0647\u0645 \u0631\u0627 \u0628\u0627 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u062a\u062d\u0648\u06cc\u0644 \u0645\u06cc\u200c\u062f\u0647\u06cc\u062f. \u0645\u0632\u06cc\u062a: \u0648\u0627\u06af\u0630\u0627\u0631\u06cc \u062f\u0631 \u0642\u06cc\u0645\u062a \u0647\u062f\u0641 + \u06a9\u0633\u0628 \u067e\u0631\u0645\u06cc\u0648\u0645. \u0631\u06cc\u0633\u06a9: \u0627\u0632 \u0631\u0634\u062f \u0645\u0627\u0632\u0627\u062f \u0628\u0627\u0644\u0627\u062a\u0631 \u0627\u0632 K \u0628\u0647\u0631\u0647\u200c\u0645\u0646\u062f \u0646\u0645\u06cc\u200c\u0634\u0648\u06cc\u062f \u0648 \u0628\u0627\u06cc\u062f \u0645\u0637\u0645\u0626\u0646 \u0628\u0627\u0634\u06cc\u062f \u0645\u0648\u062c\u0648\u062f\u06cc \u0633\u0647\u0645 \u0628\u0631\u0627\u06cc \u062a\u062d\u0648\u06cc\u0644 \u06a9\u0627\u0641\u06cc \u0627\u0633\u062a.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>2)\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc<\/strong><strong> Protective Put <\/strong><strong>\u0648 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0633\u0647\u0627\u0645\u062f\u0627\u0631 \u0647\u0633\u062a\u06cc\u062f \u0648\u0644\u06cc \u0627\u0632 \u0631\u06cc\u0632\u0634 \u0645\u06cc\u200c\u062a\u0631\u0633\u06cc\u062f. \u067e\u0648\u062a \u0645\u06cc\u200c\u062e\u0631\u06cc\u062f. \u0627\u06af\u0631 \u0642\u06cc\u0645\u062a \u0633\u0642\u0648\u0637 \u06a9\u0646\u062f\u060c \u067e\u0648\u062a \u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u0627\u062e\u062a\u0644\u0627\u0641 K\u2212STK &#8211; S_T \u0631\u0627 \u0628\u0631\u0627\u06cc \u0634\u0645\u0627 \u0646\u0642\u062f \u0645\u06cc\u200c\u06a9\u0646\u062f \u0648 \u0632\u06cc\u0627\u0646 \u067e\u0631\u062a\u0641\u0648\u06cc \u0631\u0627 \u0645\u062a\u0639\u0627\u062f\u0644 \u0645\u06cc\u200c\u0633\u0627\u0632\u062f\u2014\u0628\u062f\u0648\u0646 \u0646\u06cc\u0627\u0632 \u0628\u0647 \u0641\u0631\u0648\u0634 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0633\u0647\u0645 \u06cc\u0627 \u0648\u0631\u0648\u062f \u0628\u0647 \u0641\u0631\u0627\u06cc\u0646\u062f \u0627\u0646\u062a\u0642\u0627\u0644.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>3)\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0627\u0633\u062a\u0631\u0627\u062f\u0644<\/strong><strong> (Straddle) <\/strong><strong>\u0648 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0627\u0633\u062a\u0631\u0646\u06af\u0644<\/strong><strong> (Strangle)<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u200c\u0647\u0627\u06cc \u062f\u0648\u0637\u0631\u0641\u0647 (\u062e\u0631\u06cc\u062f \u06a9\u0627\u0644 + \u062e\u0631\u06cc\u062f \u067e\u0648\u062a) \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0627\u0633\u062a\u0631\u0627\u062f\u0644 \u0648 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0627\u0633\u062a\u0631\u0646\u06af\u0644\u060c \u0627\u0646\u062a\u062e\u0627\u0628 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u0627\u062c\u0631\u0627\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0631\u0627 \u0633\u0627\u062f\u0647 \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0627\u06af\u0631 \u0627\u0646\u062a\u0638\u0627\u0631 \u062f\u0627\u0631\u06cc\u062f \u0646\u0648\u0633\u0627\u0646 \u0634\u062f\u06cc\u062f \u0628\u0627\u0634\u062f \u0627\u0645\u0627 \u0646\u0645\u06cc\u200c\u062e\u0648\u0627\u0647\u06cc\u062f \u062f\u0631\u06af\u06cc\u0631 \u062a\u062d\u0648\u06cc\u0644\/\u062f\u0631\u06cc\u0627\u0641\u062a \u0633\u0647\u0645 \u0634\u0648\u06cc\u062f\u060c \u0646\u0642\u062f\u06cc \u0627\u0646\u062a\u062e\u0627\u0628 \u0637\u0628\u06cc\u0639\u06cc \u0627\u0633\u062a.<\/p>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>4)\u0641\u0631\u0648\u0634 \u067e\u0648\u062a \u0628\u0631\u0627\u06cc \u0648\u0631\u0648\u062f \u0628\u0647 \u0633\u0647\u0645<\/strong><strong> (Cash-Secured Put) <\/strong><strong>\u0628\u0627 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><\/h3>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0627\u06af\u0631 \u0642\u06cc\u0645\u062a \u0641\u0639\u0644\u06cc \u0628\u0627\u0644\u0627\u0633\u062a \u0648\u0644\u06cc \u0645\u0627\u06cc\u0644\u06cc\u062f \u062f\u0631 \u0642\u06cc\u0645\u062a \u067e\u0627\u06cc\u06cc\u0646\u200c\u062a\u0631 \u0635\u0627\u062d\u0628 \u0633\u0647\u0645 (<strong><a href=\"https:\/\/bambo.fund\/funds\">\u0635\u0646\u062f\u0648\u0642 \u0633\u0631\u0645\u0627\u06cc\u0647 \u06af\u0630\u0627\u0631\u06cc<\/a>)<\/strong> \u0634\u0648\u06cc\u062f\u060c \u0641\u0631\u0648\u0634 \u067e\u0648\u062a \u062f\u0631 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0645\u0637\u0644\u0648\u0628 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0631\u0627\u0647\u06cc \u0628\u0631\u0627\u06cc \u0648\u0631\u0648\u062f \u0628\u0627\u0634\u062f. \u0627\u06af\u0631 \u0627\u0639\u0645\u0627\u0644 \u0634\u0648\u062f\u060c \u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u060c \u0633\u0647\u0645 \u0631\u0627 \u0628\u0627 KK \u0645\u06cc\u200c\u062e\u0631\u06cc\u062f (\u0648 \u0642\u0628\u0644\u0627\u064b \u0647\u0645 \u067e\u0631\u0645\u06cc\u0648\u0645 \u06af\u0631\u0641\u062a\u0647\u200c\u0627\u06cc\u062f). \u0628\u0627\u06cc\u062f \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u06a9\u0627\u0641\u06cc \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u0631\u0627 \u0627\u0632 \u0642\u0628\u0644 \u0622\u0645\u0627\u062f\u0647 \u06a9\u0646\u06cc\u062f.<\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0641\u0631\u0627\u06cc\u0646\u062f\u0647\u0627\u06cc \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc \u0648 \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0631\u0627\u06cc\u062c<\/strong><\/h2>\n<ol dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0639\u062f\u0645 \u062b\u0628\u062a \u0628\u0647\u200c\u0645\u0648\u0642\u0639 \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644 (\u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f\u0627\u0631)<\/strong><strong>:<\/strong><br \/>\n\u0628\u0633\u062a\u0647 \u0628\u0647 \u0646\u0648\u0639 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u060c \u0628\u0639\u0636\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631\u0647\u0627 \u0646\u06cc\u0627\u0632 \u0628\u0647 \u00ab\u062b\u0628\u062a \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644\u00bb \u062f\u0631 \u0628\u0627\u0632\u0647\u0654 \u0645\u0634\u062e\u0635 \u062f\u0627\u0631\u0646\u062f. \u0627\u06af\u0631 \u062c\u0627 \u0628\u0645\u0627\u0646\u06cc\u062f\u060c \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0627\u0632 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc \u0645\u062d\u0631\u0648\u0645 \u0634\u0648\u06cc\u062f (\u0628\u0647\u200c\u062e\u0635\u0648\u0635 \u062f\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc\u06cc \u06a9\u0647 \u0627\u0639\u0645\u0627\u0644 \u062e\u0648\u062f\u06a9\u0627\u0631 \u0646\u062f\u0627\u0631\u0646\u062f).<\/li>\n<li><strong>\u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc \u0633\u0647\u0645 (\u0628\u0631\u0627\u06cc \u0641\u0631\u0648\u0634\u0646\u062f\u0647<\/strong><strong>\u0654<\/strong><strong> \u06a9\u0627\u0644 \u062f\u0631 \u0641\u06cc\u0632\u06cc\u06a9\u06cc)<\/strong><strong>:<\/strong><br \/>\n\u0627\u06af\u0631 \u06a9\u0627\u0644 \u0634\u0645\u0627 ITM \u0634\u0648\u062f \u0648 \u0627\u0639\u0645\u0627\u0644 \u0631\u062e \u062f\u0647\u062f\u060c \u0628\u0627\u06cc\u062f \u0633\u0647\u0645 \u062a\u062d\u0648\u06cc\u0644 \u062f\u0647\u06cc\u062f. \u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0646\u062c\u0631 \u0628\u0647 \u0646\u0642\u0636 \u062a\u0639\u0647\u062f \u0648 \u062a\u0628\u0639\u0627\u062a \u0645\u0627\u0644\u06cc\/\u0627\u0639\u062a\u0628\u0627\u0631\u06cc \u0634\u0648\u062f. \u067e\u0648\u0634\u0634 \u0628\u0627 \u0633\u0647\u0627\u0645 (Covered) \u06cc\u0627 \u0628\u0633\u062a\u0646 \u0645\u0648\u0642\u0639\u06cc\u062a \u067e\u06cc\u0634 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f \u0631\u0627\u0647\u06a9\u0627\u0631 \u0627\u0633\u062a.<\/li>\n<li><strong>\u06a9\u0645\u0628\u0648\u062f \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc (\u0628\u0631\u0627\u06cc \u0641\u0631\u0648\u0634\u0646\u062f\u0647<\/strong><strong>\u0654<\/strong><strong> \u067e\u0648\u062a \u062f\u0631 \u0641\u06cc\u0632\u06cc\u06a9\u06cc)<\/strong><strong>:<\/strong><br \/>\n\u062f\u0631 \u0627\u0639\u0645\u0627\u0644 \u067e\u0648\u062a\u060c \u0628\u0627\u06cc\u062f \u0648\u062c\u0647 \u062e\u0631\u06cc\u062f \u0633\u0647\u0645 \u0631\u0627 \u0628\u067e\u0631\u062f\u0627\u0632\u06cc\u062f. \u0628\u0631\u0646\u0627\u0645\u0647\u0654 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u06cc\u062f\u2014\u062d\u062c\u0645 \u0645\u0648\u0642\u0639\u06cc\u062a \u0631\u0627 \u0628\u0627 \u062a\u0648\u0627\u0646 \u0645\u0627\u0644\u06cc \u0647\u0645\u200c\u0631\u0627\u0633\u062a\u0627 \u06a9\u0646\u06cc\u062f.<\/li>\n<li><strong>\u0644\u063a\u0632\u0634 \u0642\u06cc\u0645\u062a\u06cc \u062f\u0631 \u0622\u062e\u0631\u06cc\u0646 \u0631\u0648\u0632<\/strong><strong>:<\/strong><br \/>\n\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc\u060c \u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u0633\u0631\u0631\u0633\u06cc\u062f \u062a\u0639\u06cc\u06cc\u0646\u200c\u06a9\u0646\u0646\u062f\u0647 \u0627\u0633\u062a. \u0646\u0648\u0633\u0627\u0646\u200c\u0647\u0627\u06cc \u0644\u062d\u0638\u0647\u200c\u0627\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0646\u062a\u06cc\u062c\u0647 \u0631\u0627 \u062a\u063a\u06cc\u06cc\u0631 \u062f\u0647\u062f\u061b \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646 \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9\/\u0628\u0633\u062a\u0646 \u0628\u062e\u0634\u06cc \u0627\u0632 \u0645\u0648\u0642\u0639\u06cc\u062a \u0642\u0628\u0644 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0646\u0637\u0642\u06cc \u0628\u0627\u0634\u062f.<\/li>\n<li><strong>\u062a\u063a\u06cc\u06cc\u0631\u0627\u062a \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627<\/strong><strong>:<\/strong><br \/>\n\u0645\u0642\u0631\u0631\u0627\u062a \u0628\u0627\u0632\u0627\u0631\u0647\u0627 \u067e\u0648\u06cc\u0627\u0633\u062a. \u0647\u0645\u06cc\u0634\u0647 \u0622\u062e\u0631\u06cc\u0646 \u00ab\u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647\u00bb \u0648 \u00ab\u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u00bb \u0631\u0627 \u0628\u0631\u0631\u0633\u06cc \u06a9\u0646\u06cc\u062f.<\/li>\n<\/ol>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u062d\u0627\u0633\u0628\u0647<\/strong><strong>\u0654<\/strong><strong> \u067e\u0631\u062f\u0627\u062e\u062a\u06cc\u200c\u0647\u0627 (\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a \u0645\u062d\u0627\u0633\u0628\u0627\u062a\u06cc \u0633\u0631\u06cc\u0639)<\/strong><\/h2>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0628\u0631\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc<\/strong><strong>:<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u062a\u0639\u06cc\u06cc\u0646 STS_T (\u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u0633\u0631\u0631\u0633\u06cc\u062f)<\/li>\n<li>\u0645\u062d\u0627\u0633\u0628\u0647\u0654 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc:\n<ul>\n<li>\u06a9\u0627\u0644: max\u2061(ST\u2212K,0)\\max(S_T &#8211; K, 0)<\/li>\n<li>\u067e\u0648\u062a: max\u2061(K\u2212ST,0)\\max(K &#8211; S_T, 0)<\/li>\n<\/ul>\n<\/li>\n<li>\u0636\u0631\u0628 \u062f\u0631 \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0648 \u062a\u0639\u062f\u0627\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627<\/li>\n<li>\u06a9\u0633\u0631\/\u0627\u0641\u0632\u0648\u062f\u0646 \u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627 \u0648 \u067e\u0631\u0645\u06cc\u0648\u0645 \u067e\u0631\u062f\u0627\u062e\u062a\u06cc\/\u062f\u0631\u06cc\u0627\u0641\u062a\u06cc<\/li>\n<\/ul>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0628\u0631\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong>:<\/strong><\/h3>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0627\u062d\u0631\u0627\u0632 \u0645\u0648\u062c\u0648\u062f\u06cc\/\u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u06a9\u0627\u0641\u06cc \u0628\u0631\u0627\u06cc \u0627\u06cc\u0641\u0627\u06cc \u062a\u0639\u0647\u062f<\/li>\n<li>\u0627\u062c\u0631\u0627\u06cc \u0627\u0646\u062a\u0642\u0627\u0644 \u0633\u0647\u0645\/\u0648\u062c\u0647 \u0628\u0631 \u0645\u0628\u0646\u0627\u06cc KK \u0648 \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/li>\n<li>\u062a\u0648\u062c\u0647 \u0628\u0647 \u0645\u0647\u0644\u062a\u200c\u0647\u0627\u06cc \u062a\u0633\u0648\u06cc\u0647\u0654 \u0648\u062c\u0648\u0647 (DVP) \u0648 \u0647\u0632\u06cc\u0646\u0647\u200c\u0647\u0627\u06cc \u0627\u0646\u062a\u0642\u0627\u0644<\/li>\n<\/ul>\n<h3 dir=\"rtl\" style=\"text-align: right;\"><strong>\u062a\u0635\u0645\u06cc\u0645\u200c\u06af\u06cc\u0631\u06cc \u062d\u0631\u0641\u0647\u200c\u0627\u06cc &#8211; \u06cc\u06a9 \u0641\u0631\u06cc\u0645\u200c\u0648\u0631\u06a9 \u0633\u0627\u062f\u0647<\/strong><\/h3>\n<ol dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0647\u062f\u0641 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u06a9<\/strong><strong>:<\/strong> \u0622\u06cc\u0627 \u0645\u06cc\u200c\u062e\u0648\u0627\u0647\u06cc\u062f \u0645\u0627\u0644\u06a9\/\u0641\u0627\u0642\u062f \u0633\u0647\u0645 \u0634\u0648\u06cc\u062f \u06cc\u0627 \u0641\u0642\u0637 \u0645\u062d\u0627\u0641\u0638\u062a\/\u0633\u0648\u062f \u0627\u0632 \u0646\u0648\u0633\u0627\u0646\u061f<\/li>\n<li><strong>\u0645\u062d\u062f\u0648\u062f\u06cc\u062a \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc<\/strong><strong>:<\/strong> \u062a\u0648\u0627\u0646 \u0646\u0642\u062f\u06cc \u0648 \u0627\u0639\u062a\u0628\u0627\u0631\u06cc \u0634\u0645\u0627 \u0686\u0642\u062f\u0631 \u0627\u0633\u062a\u061f<\/li>\n<li><strong>\u0638\u0631\u0641\u06cc\u062a \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc<\/strong><strong>:<\/strong> \u0622\u06cc\u0627 \u0627\u0645\u06a9\u0627\u0646 \u0645\u062f\u06cc\u0631\u06cc\u062a \u062a\u062d\u0648\u06cc\u0644\/\u062f\u0631\u06cc\u0627\u0641\u062a \u0631\u0627 \u062f\u0627\u0631\u06cc\u062f\u061f<\/li>\n<li><strong>\u0647\u0632\u06cc\u0646\u0647<\/strong><strong>\u0654<\/strong><strong> \u06a9\u0644<\/strong><strong>:<\/strong> \u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627\u060c \u0645\u0627\u0631\u062c\u06cc\u0646\u060c \u0645\u0627\u0644\u06cc\u0627\u062a \u0627\u062d\u062a\u0645\u0627\u0644\u06cc\u060c \u0644\u063a\u0632\u0634 \u0642\u06cc\u0645\u062a\u06cc.<\/li>\n<li><strong>\u0631\u06cc\u0633\u06a9 \u0645\u0642\u0631\u0631\u0627\u062a\u06cc<\/strong><strong>:<\/strong> \u0622\u062e\u0631\u06cc\u0646 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627 \u0648 \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0631\u0627 \u0628\u0631\u0631\u0633\u06cc \u06a9\u0631\u062f\u0647\u200c\u0627\u06cc\u062f\u061f<\/li>\n<li><strong>Plan B:<\/strong> \u0627\u06af\u0631 \u0628\u0627\u0632\u0627\u0631 \u062e\u0644\u0627\u0641 \u0627\u0646\u062a\u0638\u0627\u0631 \u0631\u0641\u062a\u060c \u0628\u0631\u0646\u0627\u0645\u0647\u0654 \u062e\u0631\u0648\u062c \u06cc\u0627 \u0631\u0648\u0644\u200c\u06a9\u0631\u062f\u0646 (Roll) \u0686\u06cc\u0633\u062a\u061f<\/li>\n<\/ol>\n<h2 dir=\"rtl\" style=\"text-align: right;\">\u0632\u0645\u0627\u0646 \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0686\u0647 \u0631\u0648\u0632\u06cc \u0627\u0633\u062a\u061f<\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u0628\u0627\u0632\u0627\u0631 <strong>\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/strong><strong> (Options)<\/strong>\u060c \u067e\u0633 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u060c \u062f\u0648 \u062d\u0627\u0644\u062a \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f:<\/p>\n<ol dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong> (\u062a\u062d\u0648\u06cc\u0644 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647)<\/li>\n<li><strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc<\/strong> (\u067e\u0631\u062f\u0627\u062e\u062a \u0627\u062e\u062a\u0644\u0627\u0641 \u0642\u06cc\u0645\u062a \u0628\u062f\u0648\u0646 \u062c\u0627\u0628\u0647\u200c\u062c\u0627\u06cc\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647)<\/li>\n<\/ol>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 <strong>\u0628\u0648\u0631\u0633 \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631 \u062a\u0647\u0631\u0627\u0646<\/strong> \u0648 \u0628\u0627\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0627\u06cc\u0631\u0627\u0646\u060c \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u0647\u0627 \u0639\u0645\u062f\u062a\u0627\u064b \u0628\u0647 \u0635\u0648\u0631\u062a <strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc<\/strong> \u0628\u0633\u062a\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\">\u00a0\u0637\u0628\u0642 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627\u06cc \u0633\u0627\u0632\u0645\u0627\u0646 \u0628\u0648\u0631\u0633:<\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u0622\u062e\u0631\u06cc\u0646 \u0631\u0648\u0632 \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc<\/strong> \u0647\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647\u060c <strong>\u062a\u0627\u0631\u06cc\u062e \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong> \u0622\u0646 \u0627\u0633\u062a.<\/li>\n<li>\u067e\u0633 \u0627\u0632 \u0628\u0633\u062a\u0647 \u0634\u062f\u0646 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u062f\u0631 \u0631\u0648\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f\u060c \u0645\u0648\u0642\u0639\u06cc\u062a\u200c\u0647\u0627\u06cc \u0628\u0627\u0632 (\u06a9\u0647 \u0628\u0633\u062a\u0647 \u0646\u0634\u062f\u0647\u200c\u0627\u0646\u062f) \u0648\u0627\u0631\u062f \u0641\u0631\u0622\u06cc\u0646\u062f \u062a\u0633\u0648\u06cc\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f.<\/li>\n<li><strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u062f\u0631 \u0627\u0648\u0644\u06cc\u0646 \u0631\u0648\u0632 \u06a9\u0627\u0631\u06cc \u067e\u0633 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong> \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0628\u0647\u200c\u0639\u0628\u0627\u0631\u062a \u0633\u0627\u062f\u0647:<\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0627\u06af\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 <strong>\u0686\u0647\u0627\u0631\u0634\u0646\u0628\u0647<\/strong> \u0628\u0627\u0634\u062f\u060c<br \/>\n\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0622\u0646 \u062f\u0631 <strong>\u0631\u0648\u0632 \u06a9\u0627\u0631\u06cc \u0628\u0639\u062f (\u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0634\u0646\u0628\u0647)<\/strong> \u062a\u0648\u0633\u0637 \u0634\u0631\u06a9\u062a \u0633\u067e\u0631\u062f\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0645\u0631\u06a9\u0632\u06cc (\u0633\u0645\u0627\u062a) \u0627\u0646\u062c\u0627\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u062b\u0627\u0644 \u0639\u062f\u062f\u06cc<\/strong><strong>:<\/strong><\/p>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f (Call Option) \u0633\u0647\u0645\u06cc \u0628\u0627 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 2000 \u062a\u0648\u0645\u0627\u0646 \u0648 \u062a\u0627\u0631\u06cc\u062e \u0633\u0631\u0631\u0633\u06cc\u062f 25 \u0645\u0631\u062f\u0627\u062f \u062f\u0627\u0631\u06cc\u062f.<\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u062f\u0631 \u0631\u0648\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f\u060c \u0642\u06cc\u0645\u062a \u067e\u0627\u06cc\u0627\u0646\u06cc \u0633\u0647\u0645 \u062f\u0631 \u0628\u0627\u0632\u0627\u0631 \u0646\u0642\u062f\u06cc 2300 \u062a\u0648\u0645\u0627\u0646 \u0628\u0627\u0634\u062f.<\/li>\n<li>\u0627\u062e\u062a\u0644\u0627\u0641 = 2300 &#8211; 2000 = 300 \u062a\u0648\u0645\u0627\u0646<\/li>\n<li>\u062f\u0631 \u0635\u0648\u0631\u062a\u06cc \u06a9\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f <strong>\u062f\u0631 \u0633\u0648\u062f<\/strong><strong> (ITM)<\/strong> \u0628\u0627\u0634\u062f\u060c \u0627\u06cc\u0646 300 \u062a\u0648\u0645\u0627\u0646 \u0628\u0647\u200c\u0635\u0648\u0631\u062a <strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc<\/strong> \u0628\u0647 \u062d\u0633\u0627\u0628 \u062f\u0627\u0631\u0646\u062f\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0648\u0627\u0631\u06cc\u0632 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0648 \u0627\u06cc\u0646 \u0648\u0627\u0631\u06cc\u0632 \u0637\u0628\u0642 \u0645\u0642\u0631\u0631\u0627\u062a\u060c <strong>\u0631\u0648\u0632 \u06a9\u0627\u0631\u06cc \u0628\u0639\u062f \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong> \u0628\u0647 \u062d\u0633\u0627\u0628 \u0645\u0634\u062a\u0631\u06cc \u0646\u0632\u062f \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u06cc \u0645\u0646\u0638\u0648\u0631 \u062e\u0648\u0627\u0647\u062f \u0634\u062f.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u062c\u0645\u0639\u200c\u0628\u0646\u062f\u06cc<\/strong><strong>:<\/strong><br \/>\n\u0632\u0645\u0627\u0646 \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u062f\u0631 \u0627\u06cc\u0631\u0627\u0646\u060c <strong>\u0627\u0648\u0644\u06cc\u0646 \u0631\u0648\u0632 \u06a9\u0627\u0631\u06cc \u067e\u0633 \u0627\u0632 \u062a\u0627\u0631\u06cc\u062e \u0633\u0631\u0631\u0633\u06cc\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/strong> \u0627\u0633\u062a.<\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\">\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a \u0642\u0627\u0628\u0644 \u0686\u0627\u067e \u062a\u0633\u0648\u06cc\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a \u0642\u0627\u0628\u0644 \u0686\u0627\u067e \u0648 \u06cc\u06a9 \u062c\u062f\u0648\u0644 \u0627\u06a9\u0633\u0644 \u0645\u062d\u0627\u0633\u0628\u0647\u200c\u06af\u0631 \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u0628\u0631 \u0627\u0633\u0627\u0633 \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647 (\u0646\u0642\u062f\u06cc\/\u0641\u06cc\u0632\u06cc\u06a9\u06cc)\u060c \u0627\u0646\u062f\u0627\u0632\u0647\u0654 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0648 \u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627 \u062f\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0634\u0645\u0627 \u06af\u0630\u0627\u0634\u062a\u0647 \u0634\u062f\u0647 \u062a\u0627 \u062f\u0631 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0631\u0648\u0632\u0645\u0631\u0647 \u0627\u0632 \u0622\u0646 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0646\u06cc\u062f.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><a href=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/Option_Settlement_Calculator-\u0628\u0627\u0645\u0628\u0648-\u0641\u0627\u0646\u062f.xlsx\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-1217\" src=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u0646.png\" alt=\"\u0686\u06a9 \u0644\u06cc\u0633\u062a \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc (\u062f\u0627\u0646\u0644\u0648\u062f \u0631\u0627\u06cc\u06af\u0627\u0646)\" width=\"347\" height=\"66\" srcset=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u0646.png 347w, https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u0646-320x61.png 320w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/a><\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\">\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a \u0631\u0648\u0632\u0627\u0646\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u06f1<\/strong><strong>. <\/strong><strong>\u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0646\u0648\u0639 \u0627\u062e\u062a\u06cc\u0627\u0631: Call \/ Put<\/li>\n<li>\u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647: \u0646\u0642\u062f\u06cc \/ \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/li>\n<li>\u0646\u0645\u0627\u062f \u0648 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/li>\n<li>\u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 (K)<\/li>\n<li>\u0627\u0646\u062f\u0627\u0632\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f (\u062a\u0639\u062f\u0627\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062f\u0631 \u0647\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f)<\/li>\n<li>\u062a\u0627\u0631\u06cc\u062e \u0633\u0631\u0631\u0633\u06cc\u062f<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u06f2<\/strong><strong>. <\/strong><strong>\u0645\u0648\u0642\u0639\u06cc\u062a \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u062e\u0631\u06cc\u062f\u0627\u0631 \/ \u0641\u0631\u0648\u0634\u0646\u062f\u0647<\/li>\n<li>\u062a\u0639\u062f\u0627\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627<\/li>\n<li>\u067e\u0631\u0645\u06cc\u0648\u0645 \u067e\u0631\u062f\u0627\u062e\u062a\u06cc\/\u062f\u0631\u06cc\u0627\u0641\u062a\u06cc<\/li>\n<li>\u06a9\u0627\u0631\u0645\u0632\u062f\u0647\u0627<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u06f3<\/strong><strong>. <\/strong><strong>\u0645\u062f\u06cc\u0631\u06cc\u062a \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u0648 \u0645\u0648\u062c\u0648\u062f\u06cc<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u062f\u0631 \u0635\u0648\u0631\u062a <strong>\u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong> \u2013 Call<\/strong>: \u0645\u0648\u062c\u0648\u062f\u06cc \u0633\u0647\u0645 \u06a9\u0627\u0641\u06cc \u0628\u0631\u0627\u06cc \u062a\u062d\u0648\u06cc\u0644 \u062f\u0627\u0631\u0645\u061f<\/li>\n<li>\u062f\u0631 \u0635\u0648\u0631\u062a <strong>\u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong> \u2013 Put<\/strong>: \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u0644\u0627\u0632\u0645 \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u0633\u0647\u0645 \u062f\u0627\u0631\u0645\u061f<\/li>\n<li>\u062f\u0631 \u0635\u0648\u0631\u062a <strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc<\/strong>: \u0648\u062c\u0647 \u0644\u0627\u0632\u0645 \u0628\u0631\u0627\u06cc \u0645\u0627\u0631\u062c\u06cc\u0646 \u06cc\u0627 \u0627\u062e\u062a\u0644\u0627\u0641 \u062a\u0633\u0648\u06cc\u0647 \u0631\u0627 \u062f\u0631 \u062d\u0633\u0627\u0628 \u062f\u0627\u0631\u0645\u061f<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u06f4<\/strong><strong>. <\/strong><strong>\u0631\u06cc\u0633\u06a9 \u0648 \u0628\u0631\u0646\u0627\u0645\u0647 \u067e\u0634\u062a\u06cc\u0628\u0627\u0646<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0633\u0646\u0627\u0631\u06cc\u0648 \u062f\u0631 \u0635\u0648\u0631\u062a \u0632\u06cc\u0627\u0646 \u0633\u0646\u06af\u06cc\u0646 \u0686\u06cc\u0633\u062a\u061f (\u0628\u0633\u062a\u0646 \u0645\u0648\u0642\u0639\u06cc\u062a\/\u0631\u0648\u0644 \u06a9\u0631\u062f\u0646\/\u0647\u062c \u06a9\u0631\u062f\u0646)<\/li>\n<li>\u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u062a\u0633\u0648\u06cc\u0647 \u0631\u0627 \u0627\u0632 \u06a9\u062c\u0627 \u0628\u0627\u06cc\u062f \u0686\u06a9 \u06a9\u0646\u0645\u061f<\/li>\n<li>\u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644 \u0628\u0627\u06cc\u062f \u062b\u0628\u062a \u0634\u0648\u062f \u06cc\u0627 \u062e\u0648\u062f\u06a9\u0627\u0631 \u0627\u0633\u062a\u061f<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u06f5<\/strong><strong>. <\/strong><strong>\u06a9\u0646\u062a\u0631\u0644 \u0646\u0647\u0627\u06cc\u06cc \u0642\u0628\u0644 \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/strong><\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0628\u0631\u0631\u0633\u06cc \u0648\u0636\u0639\u06cc\u062a \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u062f\u0631 \u0627\u06a9\u0633\u0644 \u0645\u062d\u0627\u0633\u0628\u0647\u200c\u06af\u0631<\/li>\n<li>\u0645\u0631\u0648\u0631 \u0622\u062e\u0631\u06cc\u0646 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644 \u0648 \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/li>\n<li>\u062a\u0623\u0645\u06cc\u0646 \u0648\u062c\u0647\/\u0633\u0647\u0645 \u062f\u0631 \u0633\u0627\u0645\u0627\u0646\u0647 \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u06cc<\/li>\n<li>\u062b\u0628\u062a \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u0627\u0639\u0645\u0627\u0644 (\u062f\u0631 \u0635\u0648\u0631\u062a \u0646\u06cc\u0627\u0632)<\/li>\n<\/ul>\n<p><a href=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a-\u0631\u0648\u0632\u0627\u0646\u0647-\u0642\u0631\u0627\u0631\u062f\u0627\u062f-\u0627\u062e\u062a\u06cc\u0627\u0631-\u0645\u0639\u0627\u0645\u0644\u0647-\u0628\u0627\u0645\u0628\u0648-\u0641\u0627\u0646\u062f.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-1219\" src=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u06462.png\" alt=\"\u062f\u0627\u0646\u0644\u0648\u062f \u0631\u0627\u06cc\u06af\u0627\u0646 \u0686\u06a9 \u0644\u06cc\u0633\u062a \u0631\u0648\u0632\u0627\u0646\u0647\" width=\"347\" height=\"66\" srcset=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u06462.png 347w, https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062f\u0627\u0646\u0644\u0648\u062f-\u0631\u0627\u06cc\u06af\u0627\u06462-320x61.png 320w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/a><\/p>\n<h2 dir=\"rtl\" style=\"text-align: right;\"><strong>\u0645\u0642\u0627\u06cc\u0633\u0647<\/strong><strong>\u0654<\/strong><strong> \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0631 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646<\/strong><\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0628\u0631\u0627\u06cc \u062f\u0631\u06a9 \u0628\u0647\u062a\u0631\u060c \u06cc\u06a9 \u062c\u062f\u0648\u0644 \u0645\u0642\u0627\u06cc\u0633\u0647\u0654 \u062c\u0627\u0645\u0639 \u0628\u06cc\u0646 \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0631 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646 (\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647)<\/p>\n<table class=\" alignright\" dir=\"rtl\" style=\"width: 100.386%; height: 860px;\" width=\"626\">\n<tbody>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u0645\u0639\u06cc\u0627\u0631<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\"><span style=\"font-size: 14pt;\"><strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc (<\/strong><strong>Cash<\/strong> <strong>Settlement<\/strong><strong>)<\/strong><\/span><\/td>\n<td style=\"width: 41.9127%;\" width=\"248\"><span style=\"font-size: 14pt;\"><strong>\u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc (<\/strong><strong>Physical<\/strong> <strong>Settlement<\/strong><strong>)<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u062a\u0639\u0631\u06cc\u0641<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0641\u0642\u0637 \u0627\u062e\u062a\u0644\u0627\u0641 \u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0628\u0647\u200c\u0635\u0648\u0631\u062a \u0648\u062c\u0647 \u0646\u0642\u062f \u0628\u06cc\u0646 \u062e\u0631\u06cc\u062f\u0627\u0631 \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u062e\u0648\u062f\u0650 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 (\u0645\u062b\u0644\u0627\u064b \u0633\u0647\u0627\u0645) \u0628\u06cc\u0646 \u0637\u0631\u0641\u06cc\u0646 \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f\u061b \u062e\u0631\u06cc\u062f\u0627\u0631 \u06a9\u0627\u0644 \u0633\u0647\u0645 \u0631\u0627 \u0645\u06cc\u200c\u062e\u0631\u062f \u06cc\u0627 \u062e\u0631\u06cc\u062f\u0627\u0631 \u067e\u0648\u062a \u0633\u0647\u0645 \u0631\u0627 \u0645\u06cc\u200c\u0641\u0631\u0648\u0634\u062f.<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u0646\u062d\u0648\u0647 \u0645\u062d\u0627\u0633\u0628\u0647 \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">max\u2061(ST\u2212K,0)\\max(S_T &#8211; K, 0) \u06cc\u0627 max\u2061(K\u2212ST,0)\\max(K &#8211; S_T, 0) \u00d7 \u0627\u0646\u062f\u0627\u0632\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u062a\u0641\u0627\u0648\u062a \u0627\u0631\u0632\u0634 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u0627\u0632 \u0637\u0631\u06cc\u0642 \u0627\u0646\u062a\u0642\u0627\u0644 \u0648\u0627\u0642\u0639\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u0648 \u0648\u062c\u0647 \u0645\u0639\u0627\u062f\u0644 \u0622\u0646 \u062a\u062d\u0642\u0642 \u0645\u06cc\u200c\u06cc\u0627\u0628\u062f.<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc\/\u062f\u0627\u0631\u0627\u06cc\u06cc<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0635\u0631\u0641\u0627\u064b \u067e\u0631\u062f\u0627\u062e\u062a \u06cc\u0627 \u062f\u0631\u06cc\u0627\u0641\u062a \u0627\u062e\u062a\u0644\u0627\u0641 \u0646\u0642\u062f\u06cc\u061b \u0646\u06cc\u0627\u0632 \u0628\u0647 \u0633\u0647\u0645 \u06cc\u0627 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u062f\u0631\u0634\u062a \u0648\u062c\u0648\u062f \u0646\u062f\u0627\u0631\u062f.<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u06a9\u0627\u0644 \u0628\u0627\u06cc\u062f \u0633\u0647\u0627\u0645 \u06a9\u0627\u0641\u06cc \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f\u061b \u0641\u0631\u0648\u0634\u0646\u062f\u0647\u0654 \u067e\u0648\u062a \u0628\u0627\u06cc\u062f \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u06a9\u0627\u0641\u06cc \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u0633\u0647\u0645 \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f.<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u067e\u06cc\u0686\u06cc\u062f\u06af\u06cc \u0627\u062c\u0631\u0627<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0633\u0627\u062f\u0647\u200c\u062a\u0631\u060c \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9 \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc \u062a\u062d\u0648\u06cc\u0644 \u0633\u0647\u0645<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u067e\u06cc\u0686\u06cc\u062f\u0647\u200c\u062a\u0631\u061b \u0634\u0627\u0645\u0644 \u0627\u0646\u062a\u0642\u0627\u0644 \u0633\u0647\u0645 \u0648 \u0648\u062c\u0647\u060c \u06a9\u0646\u062a\u0631\u0644 \u0645\u0648\u062c\u0648\u062f\u06cc\u060c \u0631\u06cc\u0633\u06a9 \u06a9\u0645\u0628\u0648\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u06a9\u0627\u0631\u0628\u0631\u062f \u0631\u0627\u06cc\u062c<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0645\u0628\u062a\u0646\u06cc \u0628\u0631 \u0634\u0627\u062e\u0635\u200c\u0647\u0627 \u06cc\u0627 \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc\u06cc \u06a9\u0647 \u062a\u062d\u0648\u06cc\u0644 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0634\u0648\u0627\u0631 \u0627\u0633\u062a. \u0647\u0645\u0686\u0646\u06cc\u0646 \u0628\u0631\u0627\u06cc \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u0648 \u067e\u0648\u0634\u0634 \u0633\u0627\u062f\u0647.<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u0632\u0645\u0627\u0646\u06cc \u06a9\u0647 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0645\u0633\u062a\u0644\u0632\u0645 \u0645\u0627\u0644\u06a9\u06cc\u062a \u06cc\u0627 \u0648\u0627\u06af\u0630\u0627\u0631\u06cc \u0648\u0627\u0642\u0639\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u0628\u0627\u0634\u062f (\u0645\u062b\u0644 \u06a9\u0627\u0648\u0631\u062f\u06a9\u0627\u0644 \u06cc\u0627 \u0648\u0631\u0648\u062f \u0628\u0647 \u0633\u0647\u0645 \u0628\u0627 \u0641\u0631\u0648\u0634 \u067e\u0648\u062a).<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u0645\u0632\u0627\u06cc\u0627<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0627\u062c\u0631\u0627\u06cc \u0622\u0633\u0627\u0646\u060c \u0631\u06cc\u0633\u06a9 \u0639\u0645\u0644\u06cc\u0627\u062a\u06cc \u067e\u0627\u06cc\u06cc\u0646\u060c \u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u06a9\u0645\u062a\u0631<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u062f\u0633\u062a\u06cc\u0627\u0628\u06cc \u0628\u0647 \u0645\u0627\u0644\u06a9\u06cc\u062a \u0648\u0627\u0642\u0639\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc\u060c \u0627\u0645\u06a9\u0627\u0646 \u0645\u062f\u06cc\u0631\u06cc\u062a \u067e\u0631\u062a\u0641\u0648\u06cc \u0628\u0639\u062f \u0627\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u0645\u0639\u0627\u06cc\u0628<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0639\u062f\u0645 \u062f\u0631\u06cc\u0627\u0641\u062a \u0633\u0647\u0645\u060c \u0648\u0627\u0628\u0633\u062a\u06af\u06cc \u0628\u0647 \u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u0631\u06cc\u0633\u06a9 \u0646\u0642\u0636 \u062a\u0639\u0647\u062f \u062f\u0631 \u0635\u0648\u0631\u062a \u06a9\u0645\u0628\u0648\u062f \u0645\u0648\u062c\u0648\u062f\u06cc\u060c \u0646\u06cc\u0627\u0632 \u0646\u0642\u062f\u06cc\/\u062f\u0627\u0631\u0627\u06cc\u06cc \u0633\u0646\u06af\u06cc\u0646<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 22.3363%;\" width=\"139\"><span style=\"font-size: 14pt;\"><strong>\u062f\u0631 \u0628\u0627\u0632\u0627\u0631 \u0627\u06cc\u0631\u0627\u0646<\/strong><\/span><\/td>\n<td style=\"width: 37.9332%;\" width=\"239\">\u0628\u06cc\u0634\u062a\u0631 \u0628\u0631\u0627\u06cc \u0622\u067e\u0634\u0646\u200c\u0647\u0627\u06cc \u0645\u0628\u062a\u0646\u06cc \u0628\u0631 \u0634\u0627\u062e\u0635 \u06cc\u0627 \u0628\u0631\u062e\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u062e\u0627\u0635<\/td>\n<td style=\"width: 41.9127%;\" width=\"248\">\u0628\u06cc\u0634\u062a\u0631 \u0628\u0631\u0627\u06cc \u0622\u067e\u0634\u0646\u200c\u0647\u0627\u06cc \u0633\u0647\u0627\u0645 (\u06a9\u0647 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0642\u0627\u0628\u0644 \u062a\u062d\u0648\u06cc\u0644 \u0627\u0633\u062a)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 dir=\"rtl\" style=\"text-align: right;\">\u062a\u0641\u0627\u0648\u062a \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647\u061f<\/h2>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062a\u0641\u0627\u0648\u062a \u0627\u0635\u0644\u06cc \u0628\u06cc\u0646 \u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u062f\u0631 \u0646\u062d\u0648\u0647\u200c\u06cc \u0646\u0647\u0627\u06cc\u06cc\u200c\u0633\u0627\u0632\u06cc \u062a\u0639\u0647\u062f\u0627\u062a \u0627\u0646\u0648\u0627\u0639 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0627\u0633\u062a.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\">\u0628\u0647 \u0637\u0648\u0631 \u062e\u0644\u0627\u0635\u0647:<\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li><strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc<\/strong><strong> \u2192<\/strong> \u0633\u0627\u062f\u0647\u200c\u062a\u0631\u060c \u0633\u0631\u06cc\u0639\u200c\u062a\u0631\u060c \u0645\u0646\u0627\u0633\u0628 \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc.<\/li>\n<li><strong>\u062a\u0633\u0648\u06cc\u0647 \u0641\u06cc\u0632\u06cc\u06a9\u06cc<\/strong><strong> \u2192<\/strong> \u0648\u0627\u0642\u0639\u06cc\u200c\u062a\u0631\u060c \u067e\u06cc\u0686\u06cc\u062f\u0647\u200c\u062a\u0631\u060c \u0645\u0646\u0627\u0633\u0628 \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u0648 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u0627\u0646 \u0628\u0646\u06cc\u0627\u062f\u06cc.<\/li>\n<\/ul>\n<h4 dir=\"rtl\" style=\"text-align: right;\"><strong>\u067e\u0631\u0633\u0634\u200c\u0647\u0627\u06cc \u067e\u0631\u062a\u06a9\u0631\u0627\u0631<\/strong><\/h4>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u0622\u06cc\u0627 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647 \u0631\u0627 \u0648\u0633\u0637 \u0639\u0645\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u062a\u063a\u06cc\u06cc\u0631 \u062f\u0627\u062f\u061f<\/strong><br \/>\n\u062e\u06cc\u0631\u061b \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647 \u062c\u0632\u0621 \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u0633\u062a \u0648 \u0627\u0632 \u0627\u0628\u062a\u062f\u0627 \u0628\u0631\u0627\u06cc \u0647\u0631 \u0646\u0645\u0627\u062f \u062a\u0639\u06cc\u06cc\u0646 \u0634\u062f\u0647 \u0627\u0633\u062a.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u0627\u06af\u0631 \u062f\u0631 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u060c \u0641\u0631\u0648\u0634\u0646\u062f\u0647<\/strong><strong>\u0654<\/strong><strong> \u06a9\u0627\u0644 \u0633\u0647\u0645 \u06a9\u0627\u0641\u06cc \u0646\u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f \u0686\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f\u061f<\/strong><br \/>\n\u0646\u0642\u0636 \u062a\u0639\u0647\u062f \u0628\u0647\u200c\u0634\u0645\u0627\u0631 \u0645\u06cc\u200c\u0622\u06cc\u062f \u0648 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0648\u062c\u0628 \u062c\u0631\u06cc\u0645\u0647\/\u062a\u0633\u0648\u06cc\u0647\u0654 \u0627\u062c\u0628\u0627\u0631\u06cc\u060c \u0645\u0633\u062f\u0648\u062f\u06cc \u06cc\u0627 \u0645\u062d\u062f\u0648\u062f\u06cc\u062a \u0627\u0639\u062a\u0628\u0627\u0631\u06cc \u0634\u0648\u062f. \u0645\u062f\u06cc\u0631\u06cc\u062a \u0645\u0648\u0642\u0639\u06cc\u062a \u0648 \u067e\u0648\u0634\u0634 \u0627\u0632 \u0642\u0628\u0644 \u0627\u0644\u0632\u0627\u0645\u06cc \u0627\u0633\u062a.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u062f\u0631 \u062a\u0633\u0648\u06cc\u0647<\/strong><strong>\u0654<\/strong><strong> \u0646\u0642\u062f\u06cc\u060c \u0627\u06af\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0646\u062f\u06a9\u06cc<\/strong><strong> ITM <\/strong><strong>\u0628\u0627\u0634\u062f \u0627\u0639\u0645\u0627\u0644 \u062e\u0648\u062f\u06a9\u0627\u0631 \u0645\u06cc\u200c\u0634\u0648\u062f\u061f<\/strong><br \/>\n\u0628\u0647 \u0631\u0648\u06cc\u0647\u0654 \u0647\u0631 \u0646\u0645\u0627\u062f \u0648 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644 \u0628\u0633\u062a\u06af\u06cc \u062f\u0627\u0631\u062f. \u0628\u0631\u062e\u06cc \u0628\u0627\u0632\u0627\u0631\u0647\u0627 \u0622\u0633\u062a\u0627\u0646\u0647\u0654 \u062d\u062f\u0627\u0642\u0644\u06cc \u0628\u0631\u0627\u06cc \u0627\u0639\u0645\u0627\u0644 \u062e\u0648\u062f\u06a9\u0627\u0631 \u062f\u0627\u0631\u0646\u062f. \u062f\u0631 \u0627\u06cc\u0631\u0627\u0646 \u0646\u06cc\u0632 \u0628\u0627\u06cc\u062f \u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0631\u0627 \u0628\u0628\u06cc\u0646\u06cc\u062f \u0648 \u0631\u0648\u06cc \u00ab\u0627\u062a\u06a9\u0627 \u0628\u0647 \u062e\u0648\u062f\u06a9\u0627\u0631 \u0628\u0648\u062f\u0646\u00bb \u062d\u0633\u0627\u0628 \u0642\u0637\u0639\u06cc \u0646\u06a9\u0646\u06cc\u062f\u2014\u0628\u0647\u062a\u0631\u06cc\u0646 \u06a9\u0627\u0631 \u062b\u0628\u062a \u0648 \u067e\u06cc\u06af\u06cc\u0631\u06cc \u0641\u0639\u0627\u0644\u0627\u0646\u0647 \u0627\u0633\u062a.<\/p>\n<p dir=\"rtl\" style=\"text-align: right;\"><strong>\u062d\u0642\u200c\u0628\u06cc\u0645\u0647<\/strong><strong>\u0654<\/strong><strong> \u0627\u062e\u062a\u06cc\u0627\u0631 \u0686\u0647 \u0632\u0645\u0627\u0646\u06cc \u0627\u062b\u0631\u0634 \u0631\u0627 \u062f\u0631 \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u0645\u06cc\u200c\u06af\u0630\u0627\u0631\u062f\u061f<\/strong><br \/>\n\u067e\u0631\u0645\u06cc\u0648\u0645 \u062f\u0631 \u0644\u062d\u0638\u0647\u0654 \u0645\u0639\u0627\u0645\u0644\u0647 \u0646\u0642\u062f\u0627\u064b \u062c\u0627\u0628\u0647\u200c\u062c\u0627 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u062f\u0631 \u062c\u0645\u0639\u200c\u0628\u0646\u062f\u06cc \u0633\u0648\u062f\/\u0632\u06cc\u0627\u0646 \u0646\u0647\u0627\u06cc\u06cc \u0634\u0645\u0627 \u0645\u0624\u062b\u0631 \u0627\u0633\u062a\u060c \u0627\u0645\u0627 \u062f\u0631 \u0645\u062d\u0627\u0633\u0628\u0647\u0654 \u00ab\u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc \u0633\u0631\u0631\u0633\u06cc\u062f\u00bb \u062f\u062e\u0627\u0644\u062a \u0645\u0633\u062a\u0642\u06cc\u0645 \u0646\u062f\u0627\u0631\u062f.<\/p>\n<p dir=\"rtl\"><a href=\"https:\/\/bambo.fund\/auth\/login\"><img decoding=\"async\" class=\"aligncenter wp-image-1138 size-full\" src=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png\" alt=\"\u0634\u0631\u0648\u0639 \u0631\u0627\u06cc\u06af\u0627\u0646 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646\" width=\"347\" height=\"66\" srcset=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3.png 347w, https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/07\/button-3-320x61.png 320w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/a><\/p>\n<h4 dir=\"rtl\" style=\"text-align: right;\"><strong>\u062c\u0645\u0639\u200c\u0628\u0646\u062f\u06cc<\/strong><\/h4>\n<p dir=\"rtl\" style=\"text-align: right;\">\u00ab\u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc\u00bb \u0648 \u00ab\u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc\u00bb \u062f\u0648 \u0631\u06cc\u0644 \u0645\u0648\u0627\u0632\u06cc\u200c\u0627\u0646\u062f \u06a9\u0647 \u0645\u0633\u06cc\u0631 \u0646\u0647\u0627\u06cc\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0631\u0627 \u062a\u0639\u06cc\u06cc\u0646 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f. \u0627\u0646\u062a\u062e\u0627\u0628 \u0628\u06cc\u0646 \u0622\u0646\u200c\u0647\u0627 \u06a9\u0627\u0645\u0644\u0627\u064b \u0648\u0627\u0628\u0633\u062a\u0647 \u0628\u0647 <strong>\u0647\u062f\u0641 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u06a9<\/strong> \u0634\u0645\u0627\u0633\u062a:<\/p>\n<ul dir=\"rtl\" style=\"text-align: right;\">\n<li>\u0627\u06af\u0631 \u062f\u0646\u0628\u0627\u0644 <strong>\u0633\u0627\u062f\u06af\u06cc \u0627\u062c\u0631\u0627\u06cc\u06cc\u060c \u067e\u0648\u0634\u0634 \u0633\u0631\u06cc\u0639\u060c \u0648 \u0639\u062f\u0645 \u062f\u0631\u06af\u06cc\u0631\u06cc \u0628\u0627 \u0627\u0646\u062a\u0642\u0627\u0644 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0633\u0647\u0645<\/strong> \u0647\u0633\u062a\u06cc\u062f\u060c \u062a\u0633\u0648\u06cc\u0647\u0654 \u0646\u0642\u062f\u06cc \u063a\u0627\u0644\u0628\u0627\u064b \u0645\u0646\u0627\u0633\u0628\u200c\u062a\u0631 \u0627\u0633\u062a.<\/li>\n<li>\u0627\u06af\u0631 \u062e\u0648\u0627\u0647\u0627\u0646 <strong>\u0645\u0627\u0644\u06a9\u06cc\u062a\/\u0648\u0627\u06af\u0630\u0627\u0631\u06cc \u0648\u0627\u0642\u0639\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc<\/strong> \u062f\u0631 \u0633\u0631\u0631\u0633\u06cc\u062f \u0648 \u0628\u0647\u0631\u0647\u200c\u06af\u06cc\u0631\u06cc \u0627\u0632 \u0645\u0646\u0627\u0641\u0639\/\u062a\u0639\u0647\u062f\u0627\u062a \u0645\u0633\u062a\u0642\u06cc\u0645 \u0622\u0646 \u0647\u0633\u062a\u06cc\u062f\u060c \u062a\u0633\u0648\u06cc\u0647\u0654 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0627\u0646\u062a\u062e\u0627\u0628 \u0645\u0646\u0637\u0642\u06cc\u200c\u062a\u0631\u06cc \u0627\u0633\u062a\u2014\u0627\u0644\u0628\u062a\u0647 \u0628\u0627 \u0645\u062f\u06cc\u0631\u06cc\u062a \u062f\u0642\u06cc\u0642 \u0645\u0648\u062c\u0648\u062f\u06cc \u0648 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc.<\/li>\n<\/ul>\n<p dir=\"rtl\" style=\"text-align: right;\">\u062f\u0631 \u0628\u0627\u0632\u0627\u0631 \u0627\u06cc\u0631\u0627\u0646\u060c \u062a\u0641\u0627\u0648\u062a\u200c\u0647\u0627\u06cc \u0645\u0647\u0645 \u0627\u062c\u0631\u0627\u06cc\u06cc (\u0627\u0632 \u062c\u0645\u0644\u0647 \u0642\u06cc\u0645\u062a \u0645\u0631\u062c\u0639 \u062a\u0633\u0648\u06cc\u0647\u060c \u067e\u0646\u062c\u0631\u0647\u0654 \u0627\u0639\u0645\u0627\u0644\u060c \u0646\u062d\u0648\u0647\u0654 \u062a\u062e\u0635\u06cc\u0635\u060c \u0648 \u0627\u0644\u0632\u0627\u0645\u0627\u062a \u062a\u0636\u0645\u06cc\u0646) \u062f\u0631 \u00ab\u0645\u0634\u062e\u0635\u0627\u062a \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u00bb \u0647\u0631 \u0646\u0645\u0627\u062f \u0648 \u062f\u0633\u062a\u0648\u0631\u0627\u0644\u0639\u0645\u0644\u200c\u0647\u0627\u06cc \u062c\u0627\u0631\u06cc \u0628\u0648\u0631\u0633\/\u0641\u0631\u0627\u0628\u0648\u0631\u0633 \u062a\u0639\u0631\u06cc\u0641 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646 <strong>\u067e\u06cc\u0634 \u0627\u0632 \u0648\u0631\u0648\u062f \u0628\u0647 \u0647\u0631 \u0645\u0648\u0642\u0639\u06cc\u062a<\/strong>\u060c \u0627\u06cc\u0646 \u0627\u0633\u0646\u0627\u062f \u0631\u0627 \u0628\u0627 \u062f\u0642\u062a \u0628\u062e\u0648\u0627\u0646\u06cc\u062f\u060c \u0633\u0646\u0627\u0631\u06cc\u0648\u0647\u0627\u06cc \u0645\u062e\u062a\u0644\u0641 \u0631\u0627 \u0639\u062f\u062f\u06cc \u0634\u0628\u06cc\u0647\u200c\u0633\u0627\u0632\u06cc \u06a9\u0646\u06cc\u062f\u060c \u0648 \u0628\u0631\u0627\u06cc \u0631\u0648\u0632 \u0627\u0639\u0645\u0627\u0644 \u00ab\u0646\u0642\u0634\u0647\u0654 \u0627\u0642\u062f\u0627\u0645\u00bb \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u06cc\u062f.<\/p>\n<p>&nbsp;<\/p>\n<div style=\"display: flex; justify-content: center;\">\n<div style=\"width: 640px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-1216-1\" width=\"640\" height=\"360\" poster=\"https:\/\/bambo.fund\/blog\/wp-content\/uploads\/2025\/08\/\u062a\u0633\u0648\u06cc\u0647-\u0646\u0642\u062f\u06cc-\u0648-\u0641\u06cc\u0632\u06cc\u06a9\u06cc-\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc-\u0627\u062e\u062a\u06cc\u0627\u0631-\u0645\u0639\u0627\u0645\u0644\u0647.jpg\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/uploadkon.ir\/uploads\/5c4c21_25\u062a\u0633\u0648\u06cc\u0647-\u0646\u0642\u062f\u06cc-\u0648-\u0641\u06cc\u0632\u06cc\u06a9\u06cc-\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc-\u0627\u062e\u062a\u06cc\u0627\u0631-\u0645\u0639\u0627\u0645\u0644\u0647.mp4?_=1\" \/><a href=\"https:\/\/uploadkon.ir\/uploads\/5c4c21_25\u062a\u0633\u0648\u06cc\u0647-\u0646\u0642\u062f\u06cc-\u0648-\u0641\u06cc\u0632\u06cc\u06a9\u06cc-\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc-\u0627\u062e\u062a\u06cc\u0627\u0631-\u0645\u0639\u0627\u0645\u0644\u0647.mp4\">https:\/\/uploadkon.ir\/uploads\/5c4c21_25\u062a\u0633\u0648\u06cc\u0647-\u0646\u0642\u062f\u06cc-\u0648-\u0641\u06cc\u0632\u06cc\u06a9\u06cc-\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc-\u0627\u062e\u062a\u06cc\u0627\u0631-\u0645\u0639\u0627\u0645\u0644\u0647.mp4<\/a><\/video><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0686\u0631\u0627 \u00ab\u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647\u00bb \u062f\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u0647\u0645 \u0627\u0633\u062a\u061f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 (Options) \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0628\u0647 \u062e\u0631\u06cc\u062f\u0627\u0631 \u062d\u0642 (\u0648 \u0646\u0647 \u0627\u0644\u0632\u0627\u0645) \u062e\u0631\u06cc\u062f \u06cc\u0627 \u0641\u0631\u0648\u0634 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062f\u0631 \u0642\u06cc\u0645\u062a \u0645\u0634\u062e\u0635 (\u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644) \u062a\u0627 \u0633\u0631\u0631\u0633\u06cc\u062f \u06cc\u0627 \u062f\u0631 \u0631\u0648\u0632 \u0633\u0631\u0631\u0633\u06cc\u062f \u0645\u06cc\u200c\u062f\u0647\u062f. \u0627\u0645\u0627 \u0622\u0646\u0686\u0647 \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u062a\u0627\u0632\u0647\u200c\u0648\u0627\u0631\u062f \u0631\u0627 \u063a\u0627\u0641\u0644\u06af\u06cc\u0631 \u0645\u06cc\u200c\u06a9\u0646\u062f\u060c \u00ab\u0646\u062d\u0648\u0647\u0654 \u062a\u0633\u0648\u06cc\u0647\u00bb \u067e\u0633 \u0627\u0632 \u0627\u0639\u0645\u0627\u0644 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0633\u062a. \u0646\u0648\u0639 \u062a\u0633\u0648\u06cc\u0647 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1226,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,27],"tags":[],"class_list":["post-1216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-stock-options"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0648 \u0641\u06cc\u0632\u06cc\u06a9\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 | 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