特朗普将于1月30日宣布美联储主席提名人选 - 老虎社区

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01-31

黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸

黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸

01-31

市场谨慎但不恐慌！分析师：沃什是美联储主席稳健人选，今年有望降息两三次

市场谨慎但不恐慌！分析师：沃什是美联储主席稳健人选，今年有望降息两三次

01-31

昨夜今晨｜鹰派预期骤升冲击风险资产！美股三大指数收跌，黄金白银价格暴跌

昨夜今晨｜鹰派预期骤升冲击风险资产！美股三大指数收跌，黄金白银价格暴跌

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01-31

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黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸

01-31

那涨的时候期权有没有功劳？

黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸

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08:18","market":"us","language":"zh","title":"黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸","url":"https://stock-news.laohu8.com/highlight/detail?id=2607927027","media":"智通财经","summary":"专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。芝加哥期权交易所衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。","content":"<html><head></head><body><p>周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。</p><p>市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在价格下跌时反向卖出，从而加剧行情的顺周期波动。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0603232470442c5661bd8c8d677db4ab\" title=\"\" tg-width=\"800\" tg-height=\"659\"/></p><p>道富投资管理全球黄金与金属策略主管Aakash Doshi表示，“这很可能是做市商对冲带来的伽马挤压。过去几周投资者大量买入近月看涨期权，推高了短期期权需求。当现货价格动能加速上行时，做市商的对冲操作可能进一步推动金价呈现抛物线式飙升。”</p><p>Doshi认为，随着月底临近以及特朗普宣布提名前美联储理事凯文·沃什为下一任美联储主席，这种期权驱动的上涨行情正在出现快速“反向解除”，从而导致金价剧烈回调。</p><p>期权持仓结构也显示市场在关键价位存在集中到期压力。SPDR黄金ETF(GLD.US)周五在465美元和455美元行权价附近有大量期权到期；COMEX黄金期权市场中，3月与4月合约在5300美元、5200美元和5100美元附近同样聚集了显著头寸。</p><p>尽管技术指标暗示金价可能仍有进一步下行空间，Doshi指出，从2026年的结构性配置逻辑来看，此轮回调反而可能带来买入机会，“黄金的长期配置优势并未消失”。</p><p>值得注意的是，期权交易员并未完全撤离市场。GLD与<a href=\"https://laohu8.com/S/EEMA\">iShares</a>白银ETF(SLV.US)的一个月隐含波动率仍维持在高位，显示市场对未来价格剧烈波动的预期依旧强烈。</p><p><a href=\"https://laohu8.com/S/CBOE\">芝加哥期权交易所</a>衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。</p><p>COMEX市场上，投资者成交了大约1500笔“年底看涨组合”，押注金价未来可能大幅反弹。本周早些时候，类似的看涨交易更是出现了超过5500手的换手。与此同时，SPDR黄金ETF还出现了一笔规模巨大的长期交易，有资金在2027年1月到期的期权上大量布局，既买入保护性看跌期权，又卖出更多看跌合约，整体策略可能是在为未来一两年金价继续下跌的风险提前做准备。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" 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display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-31 08:18 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1400145.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1400145.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","NDX":"纳斯达克100指数"},"source_url":"http://www.zhitongcaijing.com/content/detail/1400145.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2607927027","content_text":"周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在价格下跌时反向卖出，从而加剧行情的顺周期波动。道富投资管理全球黄金与金属策略主管Aakash Doshi表示，“这很可能是做市商对冲带来的伽马挤压。过去几周投资者大量买入近月看涨期权，推高了短期期权需求。当现货价格动能加速上行时，做市商的对冲操作可能进一步推动金价呈现抛物线式飙升。”Doshi认为，随着月底临近以及特朗普宣布提名前美联储理事凯文·沃什为下一任美联储主席，这种期权驱动的上涨行情正在出现快速“反向解除”，从而导致金价剧烈回调。期权持仓结构也显示市场在关键价位存在集中到期压力。SPDR黄金ETF(GLD.US)周五在465美元和455美元行权价附近有大量期权到期；COMEX黄金期权市场中，3月与4月合约在5300美元、5200美元和5100美元附近同样聚集了显著头寸。尽管技术指标暗示金价可能仍有进一步下行空间，Doshi指出，从2026年的结构性配置逻辑来看，此轮回调反而可能带来买入机会，“黄金的长期配置优势并未消失”。值得注意的是，期权交易员并未完全撤离市场。GLD与iShares白银ETF(SLV.US)的一个月隐含波动率仍维持在高位，显示市场对未来价格剧烈波动的预期依旧强烈。芝加哥期权交易所衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。COMEX市场上，投资者成交了大约1500笔“年底看涨组合”，押注金价未来可能大幅反弹。本周早些时候，类似的看涨交易更是出现了超过5500手的换手。与此同时，SPDR黄金ETF还出现了一笔规模巨大的长期交易，有资金在2027年1月到期的期权上大量布局，既买入保护性看跌期权，又卖出更多看跌合约，整体策略可能是在为未来一两年金价继续下跌的风险提前做准备。","news_type":1,"symbols_score_info":{".SPX":2,"MNQ2603":2,"MNQmain":2,"NDX":2,"ESmain":2,".IXIC":2,".DJI":2,"MNQ2612":2,"NQmain":2,"YMmain":2}},"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":527562971096616,"gmtCreate":1769820525077,"gmtModify":1769820527361,"author":{"id":"3577221458132518","authorId":"3577221458132518","name":"更深得蓝","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577221458132518","idStr":"3577221458132518"},"themes":[],"title":"","htmlText":"那涨的时候期权有没有功劳？","listText":"那涨的时候期权有没有功劳？","text":"那涨的时候期权有没有功劳？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/527562971096616","repostId":"2607927027","repostType":2,"repost":{"id":"2607927027","kind":"news","pubTimestamp":1769818680,"share":"https://www.laohu8.com/m/news/2607927027?lang=zh_CN&edition=full","pubTime":"2026-01-31 08:18","market":"us","language":"zh","title":"黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸","url":"https://stock-news.laohu8.com/highlight/detail?id=2607927027","media":"智通财经","summary":"专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。芝加哥期权交易所衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。","content":"<html><head></head><body><p>周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。</p><p>市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在价格下跌时反向卖出，从而加剧行情的顺周期波动。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0603232470442c5661bd8c8d677db4ab\" title=\"\" tg-width=\"800\" tg-height=\"659\"/></p><p>道富投资管理全球黄金与金属策略主管Aakash Doshi表示，“这很可能是做市商对冲带来的伽马挤压。过去几周投资者大量买入近月看涨期权，推高了短期期权需求。当现货价格动能加速上行时，做市商的对冲操作可能进一步推动金价呈现抛物线式飙升。”</p><p>Doshi认为，随着月底临近以及特朗普宣布提名前美联储理事凯文·沃什为下一任美联储主席，这种期权驱动的上涨行情正在出现快速“反向解除”，从而导致金价剧烈回调。</p><p>期权持仓结构也显示市场在关键价位存在集中到期压力。SPDR黄金ETF(GLD.US)周五在465美元和455美元行权价附近有大量期权到期；COMEX黄金期权市场中，3月与4月合约在5300美元、5200美元和5100美元附近同样聚集了显著头寸。</p><p>尽管技术指标暗示金价可能仍有进一步下行空间，Doshi指出，从2026年的结构性配置逻辑来看，此轮回调反而可能带来买入机会，“黄金的长期配置优势并未消失”。</p><p>值得注意的是，期权交易员并未完全撤离市场。GLD与<a href=\"https://laohu8.com/S/EEMA\">iShares</a>白银ETF(SLV.US)的一个月隐含波动率仍维持在高位，显示市场对未来价格剧烈波动的预期依旧强烈。</p><p><a href=\"https://laohu8.com/S/CBOE\">芝加哥期权交易所</a>衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。</p><p>COMEX市场上，投资者成交了大约1500笔“年底看涨组合”，押注金价未来可能大幅反弹。本周早些时候，类似的看涨交易更是出现了超过5500手的换手。与此同时，SPDR黄金ETF还出现了一笔规模巨大的长期交易，有资金在2027年1月到期的期权上大量布局，既买入保护性看跌期权，又卖出更多看跌合约，整体策略可能是在为未来一两年金价继续下跌的风险提前做准备。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n黄金、白银遭遇“血色星期五”！专业人士：这可能是期权惹的祸\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-31 08:18 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1400145.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1400145.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","NDX":"纳斯达克100指数"},"source_url":"http://www.zhitongcaijing.com/content/detail/1400145.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2607927027","content_text":"周五，现货黄金日内跌幅曾接近13%、为上世纪80年代初以来四十多年盘中跌幅之最，跌幅超过了2008年金融危机时。现货白银盘中一度暴跌超35%，创有纪录以来最大跌幅。专业人士认为，是期权市场交易进一步放大了价格波动。市场人士指出，本轮黄金急跌背后，可能存在“伽马挤压”效应的推波助澜。所谓伽马挤压，是指期权做市商在持有大量期权空头头寸时，为保持对冲平衡，需要在价格上涨时买入更多期货或ETF份额，而在价格下跌时反向卖出，从而加剧行情的顺周期波动。道富投资管理全球黄金与金属策略主管Aakash Doshi表示，“这很可能是做市商对冲带来的伽马挤压。过去几周投资者大量买入近月看涨期权，推高了短期期权需求。当现货价格动能加速上行时，做市商的对冲操作可能进一步推动金价呈现抛物线式飙升。”Doshi认为，随着月底临近以及特朗普宣布提名前美联储理事凯文·沃什为下一任美联储主席，这种期权驱动的上涨行情正在出现快速“反向解除”，从而导致金价剧烈回调。期权持仓结构也显示市场在关键价位存在集中到期压力。SPDR黄金ETF(GLD.US)周五在465美元和455美元行权价附近有大量期权到期；COMEX黄金期权市场中，3月与4月合约在5300美元、5200美元和5100美元附近同样聚集了显著头寸。尽管技术指标暗示金价可能仍有进一步下行空间，Doshi指出，从2026年的结构性配置逻辑来看，此轮回调反而可能带来买入机会，“黄金的长期配置优势并未消失”。值得注意的是，期权交易员并未完全撤离市场。GLD与iShares白银ETF(SLV.US)的一个月隐含波动率仍维持在高位，显示市场对未来价格剧烈波动的预期依旧强烈。芝加哥期权交易所衍生品市场情报主管Mandy Xu表示，尽管金价当日大幅下跌，期权市场的看涨押注反而有所增加，GLD的期权偏度进一步倒挂，投资者加码买入看涨期权押注反弹。COMEX市场上，投资者成交了大约1500笔“年底看涨组合”，押注金价未来可能大幅反弹。本周早些时候，类似的看涨交易更是出现了超过5500手的换手。与此同时，SPDR黄金ETF还出现了一笔规模巨大的长期交易，有资金在2027年1月到期的期权上大量布局，既买入保护性看跌期权，又卖出更多看跌合约，整体策略可能是在为未来一两年金价继续下跌的风险提前做准备。","news_type":1,"symbols_score_info":{".SPX":2,"MNQ2603":2,"MNQmain":2,"NDX":2,"ESmain":2,".IXIC":2,".DJI":2,"MNQ2612":2,"NQmain":2,"YMmain":2}},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}]}