Lindung Nilai Harga Saham Menggunakan Strategi Long Call Condor dan Long Call Butterfly Spread

Abstract

Fluktuasi harga saham dapat merugikan investor, sehingga lindung nilai menjadi penting. Instrumen derivatif, seperti strategi opsi long call condor dan long call butterfly spread, dapat digunakan untuk melindungi nilai aset dan memaksimalkan keuntungan ketika semakin mendekati strike price tengah. Berdasarkan penelitian, strategi long call condor lebih direkomendasikan bagi investor yang ingin mendapatkan keuntungan di rentang saham yang lebih luas. Strategi long call butterfly spread menawarkan potensi keuntungan yang jauh lebih tinggi, namun risikonya lebih besar jika harga saham bergerak jauh dari strike price tengah. Terdapat tiga skenario dalam perhitungan profit, dan Skenario 3 terpilih dalam perhitungan karena kedua strategi menunjukkan keseimbangan antara keuntungan dan risiko, namun disesuaikan dengan keinginan investor.

Fluctuations in stock prices can be detrimental to investors, making hedging an essential strategy. Derivative instruments, such as the long call condor and long call butterfly spread strategies, can be used to hedge asset values and maximize profits as the stock price approaches the middle strike price. According to research, the long call condor strategy is more recommended for investors seeking profits within a broader stock price range. On the other hand, the long call butterfly spread strategy offers significantly higher profit potential but carries greater risk if the stock price moves far from the middle strike price. There are three scenarios considered in the profit calculation, and third scenario was selected because both strategies demonstrated a balance between profit and risk, while also aligning with the investor's preferences.