{"id":204809,"date":"2026-07-14T13:12:53","date_gmt":"2026-07-14T04:12:53","guid":{"rendered":"https:\/\/ichizenholdings.co.jp\/media\/?p=204809"},"modified":"2026-07-21T18:02:37","modified_gmt":"2026-07-21T09:02:37","slug":"option-trading-glossary","status":"publish","type":"post","link":"https:\/\/ichizenholdings.co.jp\/media\/trading\/option-trading\/option-trading-glossary\/","title":{"rendered":"\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u96c6\uff5c\u57fa\u672c\u304b\u3089\u30b0\u30ea\u30fc\u30af\u30b9\u30fbGEX\u307e\u306750\u8a9e\u8d85\u3092\u4f53\u7cfb\u7684\u306b\u89e3\u8aac\u30102026\u5e74\u7248\u3011"},"content":{"rendered":"\n<p class=\"u-mb-ctrl u-mb-0 wp-block-paragraph\"><strong>ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide u-mb-ctrl u-mb-10\"\/>\n\n\n\n<ul class=\"wp-block-list -list-under-dashed is-style-index\">\n<li><strong><span class=\"swl-marker mark_yellow\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u3092\u300c\u57fa\u672c\u2192\u4fa1\u683c\u2192\u30b0\u30ea\u30fc\u30af\u30b9\u2192\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u2192\u6226\u7565\u2192\u5e02\u5834\u5236\u5ea6\u300d\u306e6\u30ab\u30c6\u30b4\u30ea\u3067\u6574\u7406<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>\u30b3\u30fc\u30eb\u30fb\u30d7\u30c3\u30c8\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u306a\u3069\u306e\u57fa\u790e\u304b\u3089\u3001\u30c7\u30eb\u30bf\u30fb\u30ac\u30f3\u30de\u30fbIV\u30fbGEX\u306a\u3069\u306e\u5b9f\u52d9\u7528\u8a9e\u307e\u306750\u8a9e\u8d85\u3092\u7db2\u7f85<\/li>\n\n\n\n<li>\u7528\u8a9e\u540c\u58eb\u306e\u3064\u306a\u304c\u308a\u304c\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u30ab\u30c6\u30b4\u30ea\u3054\u3068\u306b\u4f53\u7cfb\u7acb\u3066\u3066\u89e3\u8aac<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><span class=\"swl-marker mark_yellow\">\u521d\u5fc3\u8005\u304c\u6700\u521d\u306b\u899a\u3048\u308b\u3079\u304d10\u8a9e\u3068\u3001\u4e2d\u7d1a\u8005\u4ee5\u964d\u306b\u5fc5\u8981\u306a\u5b9f\u52d9\u7528\u8a9e\u3092\u660e\u78ba\u306b\u5206\u96e2<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>\u307e\u305a\u306f\u30b3\u30fc\u30eb\u30fb\u30d7\u30c3\u30c8\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u30fb\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u6e80\u671f\u65e5\u30fbITM\/ATM\/OTM\u306e6\u6982\u5ff5\u3092\u62bc\u3055\u3048\u308b<\/li>\n\n\n\n<li>\u30b0\u30ea\u30fc\u30af\u30b9\u3084GEX\u30fb\u30b9\u30ad\u30e5\u30fc\u306a\u3069\u306e\u5b9f\u52d9\u7528\u8a9e\u306f\u6226\u7565\u3092\u7d44\u3080\u30d5\u30a7\u30fc\u30ba\u3067\u7406\u89e3\u3059\u308c\u3070\u5341\u5206<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><span class=\"swl-marker mark_yellow\">\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u7279\u6709\u306e\u7528\u8a9e\uff08DVOL\u30fb\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u7b49\uff09\u3082\u30ab\u30d0\u30fc<\/span><\/strong>\n<ul class=\"wp-block-list\">\n<li>\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u7c73\u56fd\u682a\u30aa\u30d7\u30b7\u30e7\u30f3\u3060\u3051\u3067\u306a\u304f\u3001Deribit\u3084Bitget\u3067\u4f7f\u308f\u308c\u308b\u6697\u53f7\u8cc7\u7523\u56fa\u6709\u306e\u7528\u8a9e\u3082\u89e3\u8aac<\/li>\n\n\n\n<li>\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u7533\u544a\u5206\u96e2\u8ab2\u7a0e20.315%\u3001\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u7dcf\u5408\u8ab2\u7a0e\u3067\u6700\u5927\u7d0455%\u3068\u7a0e\u5236\u3082\u7570\u306a\u308b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"swell-block-balloon\"><div class=\"c-balloon -bln-left\" data-col=\"gray\"><div class=\"c-balloon__icon -square\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-150x150.png\" alt=\"\" class=\"c-balloon__iconImg\" width=\"80px\" height=\"80px\"><span class=\"c-balloon__iconName\">\u6728\u7530 \u967d\u4ecb<\/span><\/div><div class=\"c-balloon__body -speaking -border-none\"><div class=\"c-balloon__text\">\n<p><span class=\"swl-fz u-fz-s\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306f\u7528\u8a9e\u304c\u72ec\u7279\u3067\u3001\u6700\u521d\u306f\u300c\u4f55\u8a9e\uff1f\u300d\u3068\u611f\u3058\u308b\u65b9\u304c\u591a\u3044\u3067\u3059\u3002\u305f\u3060\u3001\u5b9f\u969b\u306b\u4f7f\u3046\u7528\u8a9e\u306f\u610f\u5916\u3068\u9650\u3089\u308c\u3066\u3044\u3066\u3001\u57fa\u672c\u306e10\u8a9e\u3092\u62bc\u3055\u3048\u308c\u3070\u30c1\u30e3\u30fc\u30c8\u3084\u30cb\u30e5\u30fc\u30b9\u306e\u610f\u5473\u304c\u308f\u304b\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u5b9f\u52d9\u3067\u672c\u5f53\u306b\u4f7f\u3046\u7528\u8a9e\u3060\u3051\u3092\u3001\u3064\u306a\u304c\u308a\u304c\u898b\u3048\u308b\u3088\u3046\u306b\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/span><\/p>\n<span class=\"c-balloon__shapes\"><span class=\"c-balloon__before\"><\/span><span class=\"c-balloon__after\"><\/span><\/span><\/div><\/div><\/div><\/div>\n\n<div class=\"p-blogParts post_content\" data-partsID=\"201302\">\n<div class=\"wp-block-columns pc_only border_main\">\n<div class=\"wp-block-column\">\n<div class=\"swell-block-columns u-mb-ctrl u-mb-0\"><div class=\"swell-block-columns__inner\">\n<div class=\"swell-block-column swl-has-mb--s\" style=\"--clmn-w--pc:20%\">\n<figure class=\"wp-block-image size-full is-resized is-style-rounded\"><img decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59.png\" alt=\"\" class=\"wp-image-203458\" style=\"width:119px;height:auto\" srcset=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59.png 500w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-300x300.png 300w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-150x150.png 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.3\"><strong><span class=\"swl-fz u-fz-s\">\u6728\u7530 \u967d\u4ecb<\/span><\/strong><span class=\"swl-fz u-fz-xs\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\"><br>(\u682a)ICHIZEN HOLDINGS<\/mark><\/span><\/p>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1\"><span class=\"swl-fz u-fz-xs\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\">\u4ee3\u8868\u53d6\u7de0\u5f79<\/mark><\/span><\/p>\n<\/div>\n\n\n\n<div class=\"swell-block-column swl-has-mb--s\" data-valign=\"center\" style=\"--clmn-w--pc:80%\">\n<div class=\"wp-block-columns u-mb-ctrl u-mb-0\">\n<div class=\"wp-block-column\">\n<p class=\"u-mb-ctrl u-mb-0 wp-block-paragraph\"><strong><span style=\"text-decoration: underline;\"><span class=\"swl-fz u-fz-l\">\u3053\u306e\u8a18\u4e8b\u306e\u57f7\u7b46\u8005\/\u76e3\u4fee\u8005<\/span><\/span><\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column\">\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"https:\/\/twitter.com\/yosuke_kida\" target=\"_blank\" rel=\"noopener\" title=\"\">X<\/a>\u30fb<span class=\"swl-fz u-fz-s\"><a href=\"https:\/\/www.facebook.com\/p\/%E6%9C%A8%E7%94%B0%E9%99%BD%E4%BB%8B-100018641115746\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Facebook<\/a><\/span>\u30fb<a href=\"https:\/\/www.linkedin.com\/in\/%E9%99%BD%E4%BB%8B-%E6%9C%A8%E7%94%B0-68609327b\/?originalSubdomain=jp\" target=\"_blank\" rel=\"noopener\" title=\"\">Linkedin<\/a><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"u-mb-ctrl u-mb-10 wp-block-paragraph\" style=\"line-height:1.4\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\"><span class=\"swl-fz u-fz-xs\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#676262\" class=\"has-inline-color\">2016\u5e74\u304b\u3089\u4eee\u60f3\u901a\u8ca8\u30c8\u30ec\u30fc\u30c9\u3092\u958b\u59cb\u30022017\u5e74\u306b\u682a\u5f0f\u4f1a\u793eCoinOtaku\u3092\u5171\u540c\u3067\u5275\u696d\u3002\u540c\u5e74CoinOtaku\u306e\u4ee3\u8868\u306b\u5c31\u4efb\u30022020\u5e74\u306b\u6771\u8a3c\u4e8c\u90e8\u4e0a\u5834\u4f01\u696d\u306b6\u5104\u5186\u3067M&amp;A\u3002bitget\u306e\u6708\u9593\u53d6\u5f15\u9ad8\u3067\u4e16\u754c4\u4f4d\u3092\u7372\u5f97\u30022025\u5e74\u306bCoinOtaku\u4ee3\u8868\u3092\u9000\u4efb\u3057\u3001\u540c\u5e745\u6708\u306b\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS\u306e\u4ee3\u8868\u53d6\u7de0\u5f79\u306b\u5c31\u4efb\u3002<\/mark><\/span><\/mark><\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns border_gray sp_only\">\n<div class=\"wp-block-column\">\n<figure class=\"wp-block-image size-full is-resized is-style-rounded\"><img decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59.png\" alt=\"\" class=\"wp-image-203458\" style=\"width:85px\" srcset=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59.png 500w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-300x300.png 300w, https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-150x150.png 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-social-links has-small-icon-size u-mb-ctrl u-mb-10 is-content-justification-center is-layout-flex wp-container-core-social-links-is-layout-fe48e5de wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-twitter wp-block-social-link\"><a href=\"https:\/\/twitter.com\/yosuke_kida\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/p\/%E6%9C%A8%E7%94%B0%E9%99%BD%E4%BB%8B-100018641115746\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/in\/%E9%99%BD%E4%BB%8B-%E6%9C%A8%E7%94%B0-68609327b\/?originalSubdomain=jp\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.7\"><span class=\"swl-fz u-fz-xs\">\u76e3\u4fee<\/span>\u3000<strong><span style=\"font-size:19px\" class=\"swl-fz\">\u6728\u7530 \u967d\u4ecb<\/span><\/strong><br><span class=\"swl-fz u-fz-xs\">\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS \u4ee3\u8868\u53d6\u7de0\u5f79<\/span><\/p>\n\n\n\n<p class=\"has-text-align-left u-mb-ctrl u-mb-0 wp-block-paragraph\" style=\"line-height:1.7\"><span class=\"swl-fz u-fz-xs\">2016\u5e74\u304b\u3089\u4eee\u60f3\u901a\u8ca8\u30c8\u30ec\u30fc\u30c9\u3092\u958b\u59cb\u30022017\u5e74\u306b\u682a\u5f0f\u4f1a\u793eCoinOtaku\u3092\u5171\u540c\u3067\u5275\u696d\u3002\u540c\u5e74CoinOtaku\u306e\u4ee3\u8868\u306b\u5c31\u4efb\u30022020\u5e74\u306b\u6771\u8a3c\u4e8c\u90e8\u4e0a\u5834\u4f01\u696d\u306b6\u5104\u5186\u3067M&amp;A\u3002bitget\u306e\u6708\u9593\u53d6\u5f15\u9ad8\u3067\u4e16\u754c4\u4f4d\u3092\u7372\u5f97\u30022025\u5e74\u306bCoinOtaku\u4ee3\u8868\u3092\u9000\u4efb\u3057\u3001\u540c\u5e745\u6708\u306b\u682a\u5f0f\u4f1a\u793eICHIZEN HOLDINGS\u306e\u4ee3\u8868\u53d6\u7de0\u5f79\u306b\u5c31\u4efb\u3002<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u96c6\uff5c\u307e\u305a\u62bc\u3055\u3048\u308b\u3079\u304d\u57fa\u672c\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><span class=\"swl-marker mark_yellow\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3092\u59cb\u3081\u308b\u3046\u3048\u3067\u3001\u6700\u521d\u306b\u7406\u89e3\u3059\u3079\u304d\u57fa\u672c\u7528\u8a9e\u306f10\u8a9e\u7a0b\u5ea6\u3067\u3059\u3002<\/span><\/strong>\u3053\u3053\u3067\u306f\u300c\u6a29\u5229\u306e\u58f2\u8cb7\u300d\u3068\u3044\u3046\u4ed5\u7d44\u307f\u306e\u6839\u5e79\u306b\u95a2\u308f\u308b\u7528\u8a9e\u3092\u3001\u53d6\u5f15\u306e\u6d41\u308c\u306b\u6cbf\u3063\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08Call Option\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u3092 <strong>\u300c\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u8cb7\u3046\u6a29\u5229\u300d<\/strong> \u306e\u3053\u3068\u3067\u3059\u3002\u539f\u8cc7\u7523\u306e\u4fa1\u683c\u304c\u4e0a\u6607\u3059\u308b\u3068\u4fa1\u5024\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002\u305f\u3068\u3048\u3070\u65e5\u7d4c\u5e73\u5747\u304c40,000\u5186\u306e\u6642\u306b\u300c40,000\u5186\u3067\u8cb7\u3046\u6a29\u5229\u300d\u3092\u6301\u3063\u3066\u3044\u308c\u3070\u3001\u65e5\u7d4c\u5e73\u5747\u304c42,000\u5186\u306b\u4e0a\u304c\u3063\u305f\u969b\u306b2,000\u5186\u5206\u306e\u5229\u76ca\u304c\u898b\u8fbc\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\uff08Put Option\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u3092 <strong>\u300c\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u58f2\u308b\u6a29\u5229\u300d<\/strong> \u306e\u3053\u3068\u3067\u3059\u3002\u539f\u8cc7\u7523\u306e\u4fa1\u683c\u304c\u4e0b\u843d\u3059\u308b\u3068\u4fa1\u5024\u304c\u9ad8\u307e\u308b\u305f\u3081\u3001\u4fdd\u6709\u8cc7\u7523\u306e\u4e0b\u843d\u30d8\u30c3\u30b8\uff08\u4fdd\u967a\uff09\u3068\u3057\u3066\u4f7f\u308f\u308c\u307e\u3059\u3002\u66b4\u843d\u5c40\u9762\u3067\u30d7\u30c3\u30c8\u3092\u6301\u3063\u3066\u3044\u308c\u3070\u3001\u640d\u5931\u3092\u9650\u5b9a\u3057\u3064\u3064\u4e0b\u843d\u76ca\u3092\u5f97\u308b\u3053\u3068\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d7\u30ec\u30df\u30a2\u30e0\uff08Premium\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u300c\u4fa1\u683c\u300d\u305d\u306e\u3082\u306e\u3092\u6307\u3057\u307e\u3059\u3002\u8cb7\u3044\u624b\u306f\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u652f\u6255\u3063\u3066\u6a29\u5229\u3092\u53d6\u5f97\u3057\u3001\u58f2\u308a\u624b\u306f\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u53d7\u3051\u53d6\u3063\u3066\u7fa9\u52d9\u3092\u8ca0\u3044\u307e\u3059\u3002 <strong>\u30d7\u30ec\u30df\u30a2\u30e0\u306f\u300c\u672c\u6e90\u7684\u4fa1\u5024\u300d\u3068\u300c\u6642\u9593\u7684\u4fa1\u5024\u300d\u306e\u5408\u8a08\u3067\u6c7a\u307e\u308a\u3001<\/strong>\u539f\u8cc7\u7523\u4fa1\u683c\u30fb\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u6b8b\u5b58\u671f\u9593\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u91d1\u5229\u306e5\u3064\u306e\u8981\u56e0\u306b\u5de6\u53f3\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\uff08\u30b9\u30c8\u30e9\u30a4\u30af\u30d7\u30e9\u30a4\u30b9\uff0fStrike Price\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u6a29\u5229\u3092\u884c\u4f7f\u3059\u308b\u969b\u306b\u9069\u7528\u3055\u308c\u308b\u3001\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u3089\u308c\u305f\u4fa1\u683c\u3067\u3059\u3002\u300c\u884c\u4f7f\u4fa1\u683c\u300d\u3068\u3082\u547c\u3070\u308c\u307e\u3059\u3002\u3053\u306e\u4fa1\u683c\u3068\u539f\u8cc7\u7523\u306e\u5e02\u5834\u4fa1\u683c\u3068\u306e\u95a2\u4fc2\u306b\u3088\u3063\u3066\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u304cITM\uff08\u5229\u76ca\u304c\u51fa\u308b\u72b6\u614b\uff09\u304bOTM\uff08\u5229\u76ca\u304c\u51fa\u306a\u3044\u72b6\u614b\uff09\u304b\u304c\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6e80\u671f\u65e5\uff08Expiration Date\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u6a29\u5229\u3092\u884c\u4f7f\u3067\u304d\u308b\u671f\u9650\u306e\u3053\u3068\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u6bce\u6708\u7b2c2\u91d1\u66dc\u65e5\uff08SQ\u65e5\uff09\u304c\u6e80\u671f\u306b\u3042\u305f\u308a\u307e\u3059\u3002 <strong>\u6e80\u671f\u65e5\u3092\u904e\u304e\u305f\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u7121\u4fa1\u5024\u306b\u306a\u308b\u305f\u3081\u3001<\/strong>\u6b8b\u5b58\u671f\u9593\u306e\u7ba1\u7406\u304c\u91cd\u8981\u3067\u3059\u3002\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\uff08Deribit\u7b49\uff09\u3067\u306f\u6bce\u65e5\u30fb\u6bce\u9031\u30fb\u6bce\u6708\u30fb\u56db\u534a\u671f\u3054\u3068\u306e\u6e80\u671f\u304c\u7528\u610f\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u539f\u8cc7\u7523\uff08Underlying Asset\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u6a29\u5229\u304c\u5bfe\u8c61\u3068\u3059\u308b\u8cc7\u7523\u306e\u3053\u3068\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3089\u65e5\u7d4c\u5e73\u5747\u682a\u4fa1\u3001\u7c73\u56fd\u682a\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3089\u500b\u5225\u682a\u3084ETF\u3001\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3089BTC\u3084ETH\u304c\u539f\u8cc7\u7523\u306b\u3042\u305f\u308a\u307e\u3059\u3002\u539f\u8cc7\u7523\u306e\u5024\u52d5\u304d\u304c\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u3092\u5de6\u53f3\u3059\u308b\u6700\u5927\u306e\u8981\u56e0\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6a29\u5229\u884c\u4f7f\uff08Exercise\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cb7\u3044\u624b\u304c\u3001\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u3067\u539f\u8cc7\u7523\u3092\u58f2\u8cb7\u3059\u308b\u6a29\u5229\u3092\u5b9f\u969b\u306b\u4f7f\u3046\u3053\u3068\u3067\u3059\u3002\u884c\u4f7f\u3059\u308b\u3068\u5229\u76ca\u304c\u78ba\u5b9a\u3057\u307e\u3059\u304c\u3001\u624b\u6570\u6599\u3084\u6c7a\u6e08\u65b9\u5f0f\uff08\u73fe\u7269\u6c7a\u6e08\u304b\u5dee\u91d1\u6c7a\u6e08\u304b\uff09\u3092\u78ba\u8a8d\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002 <strong>\u884c\u4f7f\u3057\u306a\u3051\u308c\u3070\u6a29\u5229\u306f\u6d88\u6ec5\u3057\u3001\u652f\u6255\u3063\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u6700\u5927\u640d\u5931\u3068\u306a\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6a29\u5229\u653e\u68c4\uff08Abandonment\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cb7\u3044\u624b\u304c\u6a29\u5229\u3092\u884c\u4f7f\u305b\u305a\u3001\u305d\u306e\u307e\u307e\u6d88\u6ec5\u3055\u305b\u308b\u3053\u3068\u3067\u3059\u3002\u539f\u8cc7\u7523\u306e\u5e02\u5834\u4fa1\u683c\u304c\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u3088\u308a\u4e0d\u5229\u306a\u5834\u5408\uff08OTM\u306e\u5834\u5408\uff09\u3001\u884c\u4f7f\u3057\u3066\u3082\u640d\u5931\u304c\u51fa\u308b\u305f\u3081\u653e\u68c4\u304c\u5408\u7406\u7684\u3067\u3059\u3002\u640d\u5931\u306f\u3059\u3067\u306b\u652f\u6255\u3063\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u306b\u9650\u5b9a\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\uff08Buyer \/ Writer\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e <strong>\u8cb7\u3044\u624b\uff08\u30db\u30eb\u30c0\u30fc\uff09\u306f\u6a29\u5229\u3092\u6301\u3064\u5074\u3067\u3001\u6700\u5927\u640d\u5931\u306f\u30d7\u30ec\u30df\u30a2\u30e0\u306b\u9650\u5b9a\u3055\u308c\u307e\u3059\u3002<\/strong>\u4e00\u65b9\u3001 <strong>\u58f2\u308a\u624b\uff08\u30e9\u30a4\u30bf\u30fc\uff09\u306f\u7fa9\u52d9\u3092\u8ca0\u3046\u5074\u3067\u3001\u7406\u8ad6\u4e0a\u306e\u640d\u5931\u306f\u7121\u9650\u5927\u306b\u306a\u308a\u3048\u307e\u3059\u3002<\/strong>\u58f2\u308a\u624b\u306f\u30d7\u30ec\u30df\u30a2\u30e0\u3068\u3044\u3046\u53ce\u5165\u3092\u5f97\u308b\u4ee3\u308f\u308a\u306b\u3001\u8cb7\u3044\u624b\u304c\u6a29\u5229\u3092\u884c\u4f7f\u3057\u305f\u5834\u5408\u306b\u5fdc\u3058\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30a2\u30e1\u30ea\u30ab\u30f3\u30bf\u30a4\u30d7\uff0f\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u30bf\u30a4\u30d7<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a2\u30e1\u30ea\u30ab\u30f3\u30bf\u30a4\u30d7\u306f\u6e80\u671f\u65e5\u307e\u3067\u3044\u3064\u3067\u3082\u6a29\u5229\u884c\u4f7f\u3067\u304d\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u3001\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u30bf\u30a4\u30d7\u306f\u6e80\u671f\u65e5\u306b\u306e\u307f\u6a29\u5229\u884c\u4f7f\u3067\u304d\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u30bf\u30a4\u30d7\u3001\u7c73\u56fd\u306e\u500b\u5225\u682a\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u591a\u304f\u304c\u30a2\u30e1\u30ea\u30ab\u30f3\u30bf\u30a4\u30d7\u3067\u3059\u3002\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\uff08Deribit\uff09\u306f\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u30bf\u30a4\u30d7\u304c\u4e3b\u6d41\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4fa1\u683c\u30fb\u640d\u76ca\u306b\u95a2\u3059\u308b\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u4fa1\u683c\u304c\u3069\u3046\u6c7a\u307e\u308a\u3001\u640d\u76ca\u304c\u3069\u3046\u8a08\u7b97\u3055\u308c\u308b\u304b\u3092\u7406\u89e3\u3059\u308b\u305f\u3081\u306e\u7528\u8a9e\u3067\u3059\u3002 <strong>ITM\/ATM\/OTM\u306e3\u5206\u985e\u3068\u3001\u672c\u6e90\u7684\u4fa1\u5024\u30fb\u6642\u9593\u7684\u4fa1\u5024\u306e\u95a2\u4fc2\u3092\u62bc\u3055\u3048\u308b\u3053\u3068\u304c\u3001\u4fa1\u683c\u7406\u89e3\u306e\u7b2c\u4e00\u6b69\u306b\u306a\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onpoint\"><div class=\"cap_box_ttl\"><span><strong>\u3053\u306e\u7ae0\u306e\u5185\u5bb9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>ITM\u30fbATM\u30fbOTM\uff5c\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u72b6\u614b\u3092\u793a\u30593\u5206\u985e<\/li>\n\n\n\n<li>\u672c\u6e90\u7684\u4fa1\u5024\u3068\u6642\u9593\u7684\u4fa1\u5024\uff5c\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u5185\u8a33<\/li>\n\n\n\n<li>\u30da\u30a4\u30aa\u30d5\u30fb\u640d\u76ca\u5206\u5c90\u70b9\u30fb\u53cd\u5bfe\u58f2\u8cb7\uff5c\u640d\u76ca\u8a08\u7b97\u306e\u57fa\u672c<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">ITM\uff08\u30a4\u30f3\u30fb\u30b6\u30fb\u30de\u30cd\u30fc\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306b\u672c\u6e90\u7684\u4fa1\u5024\u304c\u3042\u308b\u72b6\u614b\u3092\u6307\u3057\u307e\u3059\u3002\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u300c\u539f\u8cc7\u7523\u4fa1\u683c \uff1e \u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u300d\u3001\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u300c\u539f\u8cc7\u7523\u4fa1\u683c \uff1c \u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u300d\u306e\u6642\u306bITM\u3067\u3059\u3002 <strong>ITM\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u5373\u5ea7\u306b\u884c\u4f7f\u3059\u308c\u3070\u5229\u76ca\u304c\u51fa\u308b\u72b6\u614b\u306b\u3042\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ATM\uff08\u30a2\u30c3\u30c8\u30fb\u30b6\u30fb\u30de\u30cd\u30fc\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u4fa1\u683c\u3068\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u304c\u307b\u307c\u7b49\u3057\u3044\u72b6\u614b\u3067\u3059\u3002ATM\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u672c\u6e90\u7684\u4fa1\u5024\u304c\u307b\u307c\u30bc\u30ed\u3067\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u307b\u3068\u3093\u3069\u304c\u6642\u9593\u7684\u4fa1\u5024\u3067\u69cb\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u3002ATM\u4ed8\u8fd1\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u30c7\u30eb\u30bf\u304c\u7d040.5\u3067\u3001\u4fa1\u683c\u611f\u5fdc\u5ea6\u304c\u6700\u3082\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">OTM\uff08\u30a2\u30a6\u30c8\u30fb\u30aa\u30d6\u30fb\u30b6\u30fb\u30de\u30cd\u30fc\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306b\u672c\u6e90\u7684\u4fa1\u5024\u304c\u306a\u3044\u72b6\u614b\u3067\u3059\u3002\u30b3\u30fc\u30eb\u3067\u306f\u300c\u539f\u8cc7\u7523\u4fa1\u683c \uff1c \u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u300d\u3001\u30d7\u30c3\u30c8\u3067\u306f\u300c\u539f\u8cc7\u7523\u4fa1\u683c \uff1e \u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u300d\u306e\u6642\u306bOTM\u3068\u306a\u308a\u307e\u3059\u3002OTM\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u6642\u9593\u7684\u4fa1\u5024\u3060\u3051\u3067\u69cb\u6210\u3055\u308c\u3066\u304a\u308a\u3001\u6e80\u671f\u306bOTM\u306e\u307e\u307e\u7d42\u308f\u308b\u3068\u7121\u4fa1\u5024\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u672c\u6e90\u7684\u4fa1\u5024\uff08Intrinsic Value\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u4eca\u3059\u3050\u884c\u4f7f\u3057\u305f\u5834\u5408\u306b\u5f97\u3089\u308c\u308b\u5229\u76ca\u306e\u3053\u3068\u3067\u3059\u3002\u30b3\u30fc\u30eb\u306e\u5834\u5408\u306f <strong>max\uff08\u539f\u8cc7\u7523\u4fa1\u683c \u2212 \u6a29\u5229\u884c\u4f7f\u4fa1\u683c, 0\uff09<\/strong>\u3001\u30d7\u30c3\u30c8\u306e\u5834\u5408\u306f <strong>max\uff08\u6a29\u5229\u884c\u4f7f\u4fa1\u683c \u2212 \u539f\u8cc7\u7523\u4fa1\u683c, 0\uff09<\/strong> \u3067\u8a08\u7b97\u3055\u308c\u307e\u3059\u3002\u4e0b\u9650\u304c0\u3067\u3042\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3001\u30de\u30a4\u30ca\u30b9\u306b\u306f\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6642\u9593\u7684\u4fa1\u5024\uff08Time Value\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30d7\u30ec\u30df\u30a2\u30e0\u304b\u3089\u672c\u6e90\u7684\u4fa1\u5024\u3092\u5dee\u3057\u5f15\u3044\u305f\u90e8\u5206\u3067\u3059\u3002\u6e80\u671f\u307e\u3067\u306e\u6b8b\u5b58\u6642\u9593\u304c\u9577\u3044\u307b\u3069\u3001\u539f\u8cc7\u7523\u304c\u6709\u5229\u306a\u65b9\u5411\u306b\u52d5\u304f\u300c\u53ef\u80fd\u6027\u300d\u304c\u5927\u304d\u3044\u305f\u3081\u3001\u6642\u9593\u7684\u4fa1\u5024\u3082\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002 <strong>\u6642\u9593\u7684\u4fa1\u5024\u306f\u6e80\u671f\u306b\u5411\u3051\u3066\u30bc\u30ed\u306b\u53ce\u675f\u3057\u3066\u3044\u304f\u6027\u8cea\u304c\u3042\u308a\u3001<\/strong>\u3053\u306e\u6e1b\u5c11\u3092\u30bf\u30a4\u30e0\u30c7\u30a3\u30b1\u30a4\uff08\u6642\u9593\u4fa1\u5024\u306e\u6e1b\u8870\uff09\u3068\u547c\u3073\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30da\u30a4\u30aa\u30d5\uff08Payoff\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6e80\u671f\u6642\u70b9\u3067\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cb7\u3044\u624b\u304c\u53d7\u3051\u53d6\u308b\u91d1\u984d\u306e\u3053\u3068\u3067\u3059\u3002\u30b3\u30fc\u30eb\u306e\u8cb7\u3044\u624b\u306e\u30da\u30a4\u30aa\u30d5\u306f max\uff08\u539f\u8cc7\u7523\u4fa1\u683c \u2212 \u6a29\u5229\u884c\u4f7f\u4fa1\u683c, 0\uff09\u3001\u30d7\u30c3\u30c8\u306e\u8cb7\u3044\u624b\u306e\u30da\u30a4\u30aa\u30d5\u306f max\uff08\u6a29\u5229\u884c\u4f7f\u4fa1\u683c \u2212 \u539f\u8cc7\u7523\u4fa1\u683c, 0\uff09\u3067\u3059\u3002\u30da\u30a4\u30aa\u30d5\u304b\u3089\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u5f15\u3044\u305f\u3082\u306e\u304c\u6700\u7d42\u7684\u306a\u640d\u76ca\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u640d\u76ca\u5206\u5c90\u70b9\uff08Break-Even Point\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u640d\u76ca\u304c\u3061\u3087\u3046\u3069\u30bc\u30ed\u306b\u306a\u308b\u539f\u8cc7\u7523\u4fa1\u683c\u3067\u3059\u3002\u30b3\u30fc\u30eb\u306e\u8cb7\u3044\u624b\u306a\u3089\u300c\u6a29\u5229\u884c\u4f7f\u4fa1\u683c \uff0b \u652f\u6255\u3063\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u300d\u3001\u30d7\u30c3\u30c8\u306e\u8cb7\u3044\u624b\u306a\u3089\u300c\u6a29\u5229\u884c\u4f7f\u4fa1\u683c \u2212 \u652f\u6255\u3063\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u300d\u304c\u640d\u76ca\u5206\u5c90\u70b9\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u4fa1\u683c\u3092\u8d85\u3048\u3066\u521d\u3081\u3066\u5229\u76ca\u304c\u767a\u751f\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u53cd\u5bfe\u58f2\u8cb7\uff08Close Position\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fdd\u6709\u3057\u3066\u3044\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u3001\u6a29\u5229\u884c\u4f7f\u3084\u653e\u68c4\u3067\u306f\u306a\u304f\u5e02\u5834\u3067\u306e\u8ee2\u58f2\uff08\u8cb7\u3044\u624b\u306e\u5834\u5408\uff09\u307e\u305f\u306f\u8cb7\u3044\u623b\u3057\uff08\u58f2\u308a\u624b\u306e\u5834\u5408\uff09\u3067\u6c7a\u6e08\u3059\u308b\u3053\u3068\u3067\u3059\u3002 <strong>\u5b9f\u52d9\u4e0a\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5927\u534a\u306f\u6e80\u671f\u524d\u306b\u53cd\u5bfe\u58f2\u8cb7\u3067\u624b\u4ed5\u821e\u3044\u3055\u308c\u307e\u3059\u3002<\/strong>\u6e80\u671f\u307e\u3067\u6301\u3064\u5fc5\u8981\u306f\u306a\u304f\u3001\u9014\u4e2d\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u5024\u4e0a\u304c\u308a\u76ca\u3092\u78ba\u5b9a\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5dee\u91d1\u6c7a\u6e08\uff08Cash Settlement\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6a29\u5229\u884c\u4f7f\u6642\u306b\u539f\u8cc7\u7523\u306e\u53d7\u3051\u6e21\u3057\u3092\u884c\u308f\u305a\u3001\u5dee\u984d\u3060\u3051\u3092\u73fe\u91d1\u3067\u7cbe\u7b97\u3059\u308b\u65b9\u5f0f\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u3084Deribit\u306e\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u5dee\u91d1\u6c7a\u6e08\u65b9\u5f0f\u3092\u63a1\u7528\u3057\u3066\u3044\u307e\u3059\u3002\u5bfe\u306b\u306a\u308b\u6982\u5ff5\u306f\u300c\u73fe\u7269\u6c7a\u6e08\uff08Physical Settlement\uff09\u300d\u3067\u3001\u7c73\u56fd\u306e\u500b\u5225\u682a\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3069\u304c\u8a72\u5f53\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30ae\u30ea\u30b7\u30e3\u6307\u6a19\uff08\u30b0\u30ea\u30fc\u30af\u30b9\uff09\u306b\u95a2\u3059\u308b\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b0\u30ea\u30fc\u30af\u30b9\uff08Greeks\uff09\u3068\u306f\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304c\u3055\u307e\u3056\u307e\u306a\u8981\u56e0\u306e\u5909\u5316\u306b\u3069\u308c\u3060\u3051\u53cd\u5fdc\u3059\u308b\u304b\u3092\u6570\u5024\u5316\u3057\u305f\u6307\u6a19\u7fa4\u3067\u3059\u3002\u30d6\u30e9\u30c3\u30af\u30fb\u30b7\u30e7\u30fc\u30eb\u30ba\u30fb\u30e2\u30c7\u30eb\u306e\u504f\u5fae\u5206\u304b\u3089\u5c0e\u304b\u308c\u3001 <strong>\u30ea\u30b9\u30af\u7ba1\u7406\u3068\u6226\u7565\u8a2d\u8a08\u306e\u57fa\u76e4\u306b\u306a\u308a\u307e\u3059\u3002<\/strong>\u521d\u5fc3\u8005\u306f\u307e\u305a\u30c7\u30eb\u30bf\u3068\u30bb\u30fc\u30bf\u306e2\u3064\u304b\u3089\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onpoint\"><div class=\"cap_box_ttl\"><span><strong>\u3053\u306e\u7ae0\u306e\u5185\u5bb9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u30c7\u30eb\u30bf\u30fb\u30ac\u30f3\u30de\uff5c\u65b9\u5411\u6027\u30ea\u30b9\u30af\u306e\u6307\u6a19<\/li>\n\n\n\n<li>\u30bb\u30fc\u30bf\u30fb\u30d9\u30ac\u30fb\u30ed\u30fc\uff5c\u6642\u9593\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u91d1\u5229\u306e\u5f71\u97ff<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">\u30c7\u30eb\u30bf\uff08Delta \/ \u0394\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u4fa1\u683c\u304c1\u5358\u4f4d\u5909\u52d5\u3057\u305f\u3068\u304d\u306b\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304c\u3069\u308c\u3060\u3051\u5909\u52d5\u3059\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30c7\u30eb\u30bf\u306f0\u301c1\u3001\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30c7\u30eb\u30bf\u306f\u22121\u301c0\u306e\u7bc4\u56f2\u3067\u63a8\u79fb\u3057\u307e\u3059\u3002 <strong>\u30c7\u30eb\u30bf\u304c0.5\u306e\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u3001\u539f\u8cc7\u7523\u304c100\u5186\u4e0a\u304c\u308b\u3068\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u7d0450\u5186\u4e0a\u304c\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u306a\u304a\u3001\u30b3\u30fc\u30eb\u30c7\u30eb\u30bf\u306e\u6b63\u78ba\u306a\u6570\u5b66\u7684\u5b9a\u7fa9\u306f\u6a19\u6e96\u6b63\u898f\u5206\u5e03\u306e\u7d2f\u7a4d\u5206\u5e03\u95a2\u6570 N(d1) \u3067\u3042\u308a\u3001d1\u305d\u306e\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\uff08\u203b1\uff09\u3002\u30c7\u30eb\u30bf\u306f\u300c\u30d8\u30c3\u30b8\u6bd4\u7387\u300d\u3068\u3057\u3066\u3082\u4f7f\u308f\u308c\u3001\u30c7\u30eb\u30bf\u30cb\u30e5\u30fc\u30c8\u30e9\u30eb\u6226\u7565\u306e\u57fa\u76e4\u306b\u306a\u308b\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002\u30b0\u30ea\u30fc\u30af\u30b9\u5168\u4f53\u306e\u8a73\u3057\u3044\u89e3\u8aac\u306f\u300c<a href=\"https:\/\/ichizenholdings.co.jp\/media\/option-trading-greeks\" target=\"_blank\" rel=\"noopener noreferrer\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u30ae\u30ea\u30b7\u30e3\u6307\u6a19\uff08\u30b0\u30ea\u30fc\u30af\u30b9\uff09\u3068\u306f\uff1f<\/a>\u300d\u3067\u7db2\u7f85\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ac\u30f3\u30de\uff08Gamma \/ \u0393\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u4fa1\u683c\u304c1\u5358\u4f4d\u5909\u52d5\u3057\u305f\u3068\u304d\u306b\u3001\u30c7\u30eb\u30bf\u304c\u3069\u308c\u3060\u3051\u5909\u5316\u3059\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002\u3044\u308f\u3070\u300c\u30c7\u30eb\u30bf\u306e\u5909\u5316\u901f\u5ea6\u300d\u3067\u3042\u308a\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u306e2\u968e\u5fae\u5206\u306b\u3042\u305f\u308a\u307e\u3059\u3002 <strong>\u30ac\u30f3\u30de\u306fATM\u4ed8\u8fd1\u3067\u6700\u5927\u306b\u306a\u308a\u3001\u6e80\u671f\u304c\u8fd1\u3065\u304f\u3068ATM\u306e\u30ac\u30f3\u30de\u304c\u6025\u6fc0\u306b\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ac\u30f3\u30de\u304c\u5927\u304d\u3044\u30dd\u30b8\u30b7\u30e7\u30f3\u306f\u539f\u8cc7\u7523\u306e\u5024\u52d5\u304d\u306b\u654f\u611f\u3067\u3001\u30d8\u30c3\u30b8\u306e\u8abf\u6574\u983b\u5ea6\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002\u8cb7\u3044\u624b\u306f\u30ac\u30f3\u30de\u30ed\u30f3\u30b0\uff08\u539f\u8cc7\u7523\u304c\u5927\u304d\u304f\u52d5\u304f\u307b\u3069\u6709\u5229\uff09\u3001\u58f2\u308a\u624b\u306f\u30ac\u30f3\u30de\u30b7\u30e7\u30fc\u30c8\uff08\u52d5\u304b\u306a\u3044\u307b\u3069\u6709\u5229\uff09\u306e\u7acb\u5834\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30bb\u30fc\u30bf\uff08Theta \/ \u0398\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6642\u9593\u304c1\u65e5\u7d4c\u904e\u3057\u305f\u3068\u304d\u306b\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304c\u3069\u308c\u3060\u3051\u6e1b\u5c11\u3059\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002 <strong>\u30bf\u30a4\u30e0\u30c7\u30a3\u30b1\u30a4\u306e\u901f\u5ea6\u3092\u6570\u5024\u5316\u3057\u305f\u3082\u306e\u3067\u3042\u308a\u3001\u8cb7\u3044\u624b\u306b\u3068\u3063\u3066\u306f\u300c\u6bce\u65e5\u306e\u30b3\u30b9\u30c8\u300d\u3001<\/strong>\u58f2\u308a\u624b\u306b\u3068\u3063\u3066\u306f\u300c\u6bce\u65e5\u306e\u53ce\u5165\u300d\u306b\u3042\u305f\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30bb\u30fc\u30bf\u306e\u7d76\u5bfe\u5024\u306fATM\u4ed8\u8fd1\u3067\u6700\u5927\u3068\u306a\u308a\u3001\u6e80\u671f\u304c\u8fd1\u3065\u304f\u307b\u3069\u6642\u9593\u7684\u4fa1\u5024\u306e\u6e1b\u8870\u304c\u52a0\u901f\u3057\u307e\u3059\u3002\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u58f2\u308a\u6226\u7565\uff08\u30ab\u30d0\u30fc\u30c9\u30b3\u30fc\u30eb\u3084CSP\u306a\u3069\uff09\u306f\u3001\u3053\u306e\u30bb\u30fc\u30bf\u306b\u3088\u308b\u30d7\u30ec\u30df\u30a2\u30e0\u53ce\u5165\u3092\u4e3b\u306a\u5229\u76ca\u6e90\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d9\u30ac\uff08Vega \/ \u03bd\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">IV\uff08\u30a4\u30f3\u30d7\u30e9\u30a4\u30c9\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff09\u304c1%\u5909\u52d5\u3057\u305f\u3068\u304d\u306b\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304c\u3069\u308c\u3060\u3051\u5909\u52d5\u3059\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002ATM\u4ed8\u8fd1\u3067\u6700\u5927\u306b\u306a\u308a\u3001\u6b8b\u5b58\u671f\u9593\u304c\u9577\u3044\u307b\u3069\u30d9\u30ac\u3082\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002 <strong>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u4e0a\u6607\u3092\u898b\u8fbc\u3080\u306a\u3089\u30d9\u30ac\u30ed\u30f3\u30b0\u3001\u4f4e\u4e0b\u3092\u898b\u8fbc\u3080\u306a\u3089\u30d9\u30ac\u30b7\u30e7\u30fc\u30c8\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u53d6\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ed\u30fc\uff08Rho \/ \u03c1\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u304c1%\u5909\u52d5\u3057\u305f\u3068\u304d\u306b\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304c\u3069\u308c\u3060\u3051\u5909\u52d5\u3059\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002\u77ed\u671f\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u5f71\u97ff\u304c\u5c0f\u3055\u304f\u3001\u5b9f\u52d9\u4e0a\u306f\u30c7\u30eb\u30bf\u30fb\u30ac\u30f3\u30de\u30fb\u30bb\u30fc\u30bf\u30fb\u30d9\u30ac\u306e4\u6307\u6a19\u3067\u5341\u5206\u306a\u5834\u5408\u304c\u307b\u3068\u3093\u3069\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u9577\u671f\u306eLEAPS\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u30ed\u30fc\u306e\u5f71\u97ff\u304c\u7121\u8996\u3067\u304d\u306a\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"swell-block-balloon\"><div class=\"c-balloon -bln-left\" data-col=\"gray\"><div class=\"c-balloon__icon -square\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-150x150.png\" alt=\"\" class=\"c-balloon__iconImg\" width=\"80px\" height=\"80px\"><span class=\"c-balloon__iconName\">\u6728\u7530 \u967d\u4ecb<\/span><\/div><div class=\"c-balloon__body -speaking -border-none\"><div class=\"c-balloon__text\">\n<p><span class=\"swl-fz u-fz-s\">\u30b0\u30ea\u30fc\u30af\u30b9\u306f\u300c\u5168\u90e8\u899a\u3048\u306a\u3044\u3068\u53d6\u5f15\u3067\u304d\u306a\u3044\u300d\u3068\u601d\u308f\u308c\u304c\u3061\u3067\u3059\u304c\u3001\u5b9f\u52d9\u3067\u306f\u30c7\u30eb\u30bf\u3068\u30bb\u30fc\u30bf\u306e2\u3064\u3060\u3051\u3067\u59cb\u3081\u3089\u308c\u307e\u3059\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u3084IV\u30c8\u30ec\u30fc\u30c9\u306b\u9032\u3080\u6bb5\u968e\u3067\u30ac\u30f3\u30de\u3068\u30d9\u30ac\u3092\u62bc\u3055\u3048\u308c\u3070OK\u3067\u3059\u3002\u81ea\u5206\u306e\u30d5\u30a7\u30fc\u30ba\u306b\u5408\u3063\u305f\u6307\u6a19\u304b\u3089\u9806\u306b\u4f7f\u3044\u3053\u306a\u3057\u3066\u3044\u304f\u306e\u304c\u30b3\u30c4\u3067\u3059\u3002<\/span><\/p>\n<span class=\"c-balloon__shapes\"><span class=\"c-balloon__before\"><\/span><span class=\"c-balloon__after\"><\/span><\/span><\/div><\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\">\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306b\u95a2\u3059\u308b\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u5909\u52d5\u306e\u5927\u304d\u3055\uff09\u306f\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u3092\u5de6\u53f3\u3059\u308b\u6700\u3082\u91cd\u8981\u306a\u8981\u56e0\u306e\u4e00\u3064\u3067\u3059\u3002 <strong>IV\u3068HV\u306e\u9055\u3044\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3067\u5229\u76ca\u3092\u51fa\u3059\u305f\u3081\u306e\u51fa\u767a\u70b9\u306b\u306a\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onpoint\"><div class=\"cap_box_ttl\"><span><strong>\u3053\u306e\u7ae0\u306e\u5185\u5bb9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>IV\u30fbHV\uff5c\u5c06\u6765\u4e88\u60f3\u3068\u904e\u53bb\u5b9f\u7e3e\u306e2\u7a2e\u985e\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3<\/li>\n\n\n\n<li>VIX\u30fbDVOL\u30fb\u30b9\u30ad\u30e5\u30fc\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30b5\u30fc\u30d5\u30a7\u30b9\uff5c\u5e02\u5834\u306e\u30bb\u30f3\u30c1\u30e1\u30f3\u30c8\u3092\u8aad\u3080\u6307\u6a19<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">IV\uff08\u30a4\u30f3\u30d7\u30e9\u30a4\u30c9\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff0fImplied Volatility\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5e02\u5834\u4fa1\u683c\uff08\u30d7\u30ec\u30df\u30a2\u30e0\uff09\u304b\u3089\u9006\u7b97\u3055\u308c\u308b\u3001 <strong>\u5e02\u5834\u53c2\u52a0\u8005\u304c\u4e88\u60f3\u3059\u308b\u300c\u5c06\u6765\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u300d\u3067\u3059\u3002<\/strong>IV\u304c\u9ad8\u3044\u307b\u3069\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u306f\u9ad8\u304f\u306a\u308a\u3001\u4f4e\u3044\u307b\u3069\u5b89\u304f\u306a\u308a\u307e\u3059\u3002IV\u306e\u4e0a\u6607\u306f\u300c\u5e02\u5834\u306e\u4e0d\u5b89\u306e\u9ad8\u307e\u308a\u300d\u3001\u4f4e\u4e0b\u306f\u300c\u5e02\u5834\u306e\u5b89\u5b9a\u300d\u3092\u793a\u3059\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u5b9f\u52d9\u3067\u306f\u3001\u539f\u8cc7\u7523\u306e\u65b9\u5411\uff08\u4e0a\u304b\u4e0b\u304b\uff09\u3060\u3051\u3067\u306a\u304f\u300cIV\u306e\u65b9\u5411\uff08\u4e0a\u304c\u308b\u304b\u4e0b\u304c\u308b\u304b\uff09\u300d\u3092\u8aad\u3080\u3053\u3068\u304c\u5229\u76ca\u306b\u76f4\u7d50\u3057\u307e\u3059\u3002IV\u304c\u5272\u5b89\u306a\u6642\u306b\u8cb7\u3044\u3001\u5272\u9ad8\u306a\u6642\u306b\u58f2\u308b\u306e\u304c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30c8\u30ec\u30fc\u30c9\u306e\u57fa\u672c\u3067\u3059\u3002IV\u306b\u3064\u3044\u3066\u3055\u3089\u306b\u8a73\u3057\u304f\u306f\u300c<a href=\"https:\/\/ichizenholdings.co.jp\/media\/option-trading-iv\" target=\"_blank\" rel=\"noopener noreferrer\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306eIV\uff08\u30a4\u30f3\u30d7\u30e9\u30a4\u30c9\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff09\u3068\u306f\uff1f<\/a>\u300d\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">HV\uff08\u30d2\u30b9\u30c8\u30ea\u30ab\u30eb\u30fb\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff0fHistorical Volatility\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u904e\u53bb\u306e\u5b9f\u969b\u306e\u4fa1\u683c\u5909\u52d5\u304b\u3089\u8a08\u7b97\u3055\u308c\u308b\u300c\u5b9f\u73fe\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u300d\u3067\u3059\u3002 <strong>IV\u304c\u300c\u5e02\u5834\u306e\u4e88\u60f3\u300d\u3067\u3042\u308b\u306e\u306b\u5bfe\u3057\u3001HV\u306f\u300c\u904e\u53bb\u306e\u4e8b\u5b9f\u300d\u3092\u793a\u3057\u307e\u3059\u3002<\/strong>IV \uff1e HV\u306e\u72b6\u614b\u304c\u7d9a\u3044\u3066\u3044\u308c\u3070\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u5272\u9ad8\uff08\u58f2\u308a\u304c\u6709\u5229\uff09\u3001IV \uff1c HV\u306a\u3089\u5272\u5b89\uff08\u8cb7\u3044\u304c\u6709\u5229\uff09\u3068\u5224\u65ad\u3059\u308b\u6750\u6599\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">VRP\uff08\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">IV\u3068HV\u306e\u5dee\uff08IV \u2212 HV\uff09\u3067\u8868\u3055\u308c\u308b\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u58f2\u308a\u624b\u304c\u53d7\u3051\u53d6\u308b\u300c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u4fdd\u967a\u6599\u300d\u306b\u3042\u305f\u308b\u6982\u5ff5\u3067\u3059\u3002VRP\u304c\u30d7\u30e9\u30b9\u306e\u72b6\u614b\u3067\u306f\u7d71\u8a08\u7684\u306b\u30aa\u30d7\u30b7\u30e7\u30f3\u58f2\u308a\u304c\u6709\u5229\u3068\u3055\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u66b4\u843d\u6642\u306b\u306fVRP\u304c\u6025\u6fc0\u306b\u7e2e\u5c0f\u30fb\u9006\u8ee2\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308b\u305f\u3081\u3001\u5358\u7d14\u306bVRP\u3060\u3051\u3067\u6226\u7565\u3092\u6c7a\u3081\u308b\u306e\u306f\u5371\u967a\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">VIX\uff08\u6050\u6016\u6307\u6570\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">S&#038;P500\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304b\u3089\u7b97\u51fa\u3055\u308c\u308b\u3001 <strong>\u5e02\u5834\u5168\u4f53\u306e\u300c\u4eca\u5f8c30\u65e5\u9593\u306e\u4e88\u60f3\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u300d\u3092\u793a\u3059\u6307\u6570\u3067\u3059\u3002<\/strong>VIX\u304c20\u3092\u8d85\u3048\u308b\u3068\u5e02\u5834\u306f\u4e0d\u5b89\u5b9a\u300130\u3092\u8d85\u3048\u308b\u3068\u9ad8\u3044\u6050\u6016\u611f\u3092\u793a\u3059\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002VIX\u305d\u306e\u3082\u306e\u3092\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u5148\u7269\u3067\u53d6\u5f15\u3059\u308b\u3053\u3068\u3082\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">DVOL\uff08Deribit\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u6700\u5927\u624b\u306eDeribit\u304c\u7b97\u51fa\u3059\u308b\u3001BTC\u307e\u305f\u306fETH\u306e30\u65e5\u9593\u4e88\u60f3\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\u3067\u3059\u3002 <strong>\u682a\u5f0f\u306eVIX\u306b\u76f8\u5f53\u3059\u308b\u6307\u6a19\u3067\u3001\u6697\u53f7\u8cc7\u7523\u5e02\u5834\u306e\u6050\u6016\u5ea6\u3084\u30bb\u30f3\u30c1\u30e1\u30f3\u30c8\u3092\u6e2c\u308b\u306e\u306b\u4f7f\u308f\u308c\u307e\u3059\u3002<\/strong>DVOL\u304c\u6025\u4e0a\u6607\u3059\u308b\u3068\u5e02\u5834\u306e\u8b66\u6212\u611f\u304c\u9ad8\u307e\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b9\u30ad\u30e5\u30fc\uff08Skew\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u6e80\u671f\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u3082\u3001\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u306b\u3088\u3063\u3066IV\u304c\u7570\u306a\u308b\u73fe\u8c61\u3001\u307e\u305f\u306f\u305d\u306e\u5dee\u3092\u6570\u5024\u5316\u3057\u305f\u3082\u306e\u3067\u3059\u3002\u4e00\u822c\u306b\u30d7\u30c3\u30c8\uff08\u4e0b\u65b9\u5411\uff09\u306eIV\u304c\u30b3\u30fc\u30eb\uff08\u4e0a\u65b9\u5411\uff09\u306eIV\u3088\u308a\u9ad8\u3044\u50be\u5411\u304c\u3042\u308a\u3001\u3053\u308c\u3092\u300c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u30b9\u30de\u30a4\u30eb\u300d\u3084\u300c\u30b9\u30ad\u30e5\u30fc\u300d\u3068\u547c\u3073\u307e\u3059\u3002 <strong>\u30d7\u30c3\u30c8\u5074\u306e\u30b9\u30ad\u30e5\u30fc\u304c\u6025\u306b\u6025\u52fe\u914d\u306b\u306a\u308b\u3068\u3001\u5e02\u5834\u304c\u4e0b\u843d\u3092\u8b66\u6212\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u5506\u3057\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30b5\u30fc\u30d5\u30a7\u30b9\uff08Volatility Surface\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\uff08\u6a2a\u8ef8\uff09\u00d7\u6e80\u671f\uff08\u7e26\u8ef8\uff09\u00d7IV\u306e\u5024\uff08\u9ad8\u3055\uff09\u3067\u69cb\u6210\u3055\u308c\u308b3\u6b21\u5143\u306e\u66f2\u9762\u3067\u3059\u3002\u30b9\u30ad\u30e5\u30fc\u3092\u6642\u9593\u8ef8\u65b9\u5411\u306b\u3082\u62e1\u5f35\u3057\u305f\u6982\u5ff5\u3067\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u5e02\u5834\u5168\u4f53\u306eIV\u69cb\u9020\u3092\u4fef\u77b0\u3067\u304d\u307e\u3059\u3002\u30d7\u30ed\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u3053\u306e\u30b5\u30fc\u30d5\u30a7\u30b9\u306e\u6b6a\u307f\u304b\u3089\u5272\u5b89\u30fb\u5272\u9ad8\u306a\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u898b\u3064\u3051\u51fa\u3057\u3066\u6226\u7565\u3092\u7d44\u307f\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u6226\u7565\u30fb\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u95a2\u3059\u308b\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u5f37\u307f\u306f\u3001\u5358\u7d14\u306a\u300c\u4e0a\u304c\u308b\/\u4e0b\u304c\u308b\u300d\u306e\u4e88\u60f3\u3060\u3051\u3067\u306a\u304f\u3001 <strong>\u8907\u6570\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u7279\u5b9a\u306e\u640d\u76ca\u30d1\u30bf\u30fc\u30f3\u3092\u4f5c\u308c\u308b\u3053\u3068\u3067\u3059\u3002<\/strong>\u3053\u3053\u3067\u306f\u4ee3\u8868\u7684\u306a\u6226\u7565\u540d\u3068\u3001\u305d\u308c\u306b\u95a2\u9023\u3059\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u7528\u8a9e\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onpoint\"><div class=\"cap_box_ttl\"><span><strong>\u3053\u306e\u7ae0\u306e\u5185\u5bb9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u30b9\u30d7\u30ec\u30c3\u30c9\u7cfb\u6226\u7565\uff5c\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3092\u9650\u5b9a\u3059\u308b\u7d44\u307f\u5408\u308f\u305b<\/li>\n\n\n\n<li>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6226\u7565\uff5c\u76f8\u5834\u304c\u52d5\u304f\u304b\u52d5\u304b\u306a\u3044\u304b\u306b\u8ced\u3051\u308b<\/li>\n\n\n\n<li>\u30ab\u30d0\u30fc\u30c9\u7cfb\u30fb\u30db\u30a4\u30fc\u30eb\u6226\u7565\uff5c\u539f\u8cc7\u7523\u4fdd\u6709\u3068\u7d44\u307f\u5408\u308f\u305b\u305f\u5b9a\u671f\u53ce\u5165\u578b<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b9\u30d7\u30ec\u30c3\u30c9\uff08Spread\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7570\u306a\u308b\u6761\u4ef6\uff08\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u3084\u6e80\u671f\uff09\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u540c\u6642\u306b\u8cb7\u3044\u3068\u58f2\u308a\u3067\u7d44\u307f\u5408\u308f\u305b\u308b\u6226\u7565\u306e\u7dcf\u79f0\u3067\u3059\u3002 <strong>\u5229\u76ca\u306f\u9650\u5b9a\u3055\u308c\u308b\u304c\u3001\u640d\u5931\u3082\u9650\u5b9a\u3055\u308c\u308b\u306e\u304c\u6700\u5927\u306e\u7279\u5fb4\u3067\u3059\u3002<\/strong>\u4ee3\u8868\u7684\u306a\u3082\u306e\u306b\u300c\u30d6\u30eb\u30b3\u30fc\u30eb\u30b9\u30d7\u30ec\u30c3\u30c9\u300d\uff08\u4e0a\u6607\u4e88\u60f3\uff09\u3084\u300c\u30d9\u30a2\u30d7\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u300d\uff08\u4e0b\u843d\u4e88\u60f3\uff09\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\uff0f\u30c7\u30d3\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u7d44\u3093\u3060\u969b\u306b\u3001 <strong>\u53d7\u3051\u53d6\u308a\u304c\u767a\u751f\u3059\u308b\u3082\u306e\u3092\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u3001\u652f\u6255\u3044\u304c\u767a\u751f\u3059\u308b\u3082\u306e\u3092\u30c7\u30d3\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9<\/strong>\u3068\u547c\u3073\u307e\u3059\u3002\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u300c\u76f8\u5834\u304c\u52d5\u304b\u306a\u3044\u300d\u65b9\u5411\u306b\u6709\u5229\u3001\u30c7\u30d3\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u300c\u4e00\u5b9a\u65b9\u5411\u306b\u52d5\u304f\u300d\u65b9\u5411\u306b\u6709\u5229\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b9\u30c8\u30e9\u30c9\u30eb\uff08Straddle\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u540c\u3058\u6e80\u671f\u306e\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u3092\u540c\u6642\u306b\u8cb7\u3046\uff08\u30ed\u30f3\u30b0\u30b9\u30c8\u30e9\u30c9\u30eb\uff09\u3001\u307e\u305f\u306f\u58f2\u308b\uff08\u30b7\u30e7\u30fc\u30c8\u30b9\u30c8\u30e9\u30c9\u30eb\uff09\u6226\u7565\u3067\u3059\u3002\u30ed\u30f3\u30b0\u30b9\u30c8\u30e9\u30c9\u30eb\u306f <strong>\u76f8\u5834\u304c\u3069\u3061\u3089\u306b\u52d5\u3044\u3066\u3082\u5229\u76ca\u304c\u51fa\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u53cd\u9762\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u30922\u3064\u5206\u652f\u6255\u3046<\/strong>\u305f\u3081\u3001\u640d\u76ca\u5206\u5c90\u70b9\u304c\u96e2\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30b9\u30c8\u30e9\u30f3\u30b0\u30eb\uff08Strangle\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7570\u306a\u308b\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u306e\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u3092\u540c\u6642\u306b\u8cb7\u3046\uff08\u307e\u305f\u306f\u58f2\u308b\uff09\u6226\u7565\u3067\u3059\u3002\u30b9\u30c8\u30e9\u30c9\u30eb\u3088\u308a\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u5b89\u3044\u4ee3\u308f\u308a\u306b\u3001\u5229\u76ca\u3092\u51fa\u3059\u305f\u3081\u306b\u306f\u3088\u308a\u5927\u304d\u306a\u5024\u52d5\u304d\u304c\u5fc5\u8981\u3067\u3059\u3002\u30b7\u30e7\u30fc\u30c8\u30b9\u30c8\u30e9\u30f3\u30b0\u30eb\u306f\u300c\u539f\u8cc7\u7523\u304c\u4e00\u5b9a\u7bc4\u56f2\u306b\u53ce\u307e\u308b\u300d\u3068\u4e88\u60f3\u3059\u308b\u5834\u5408\u306b\u4f7f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ab\u30d0\u30fc\u30c9\u30b3\u30fc\u30eb\uff08Covered Call\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u539f\u8cc7\u7523\u3092\u4fdd\u6709\u3057\u306a\u304c\u3089\u3001\u305d\u306e\u539f\u8cc7\u7523\u306e\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u58f2\u308b\u6226\u7565\u3067\u3059\u3002 <strong>\u30d7\u30ec\u30df\u30a2\u30e0\u53ce\u5165\u3092\u5f97\u308b\u4ee3\u308f\u308a\u306b\u3001\u539f\u8cc7\u7523\u306e\u4e0a\u5024\u5229\u76ca\u304c\u9650\u5b9a\u3055\u308c\u307e\u3059\u3002<\/strong>\u300c\u4fdd\u6709\u682a\u304b\u3089\u6bce\u6708\u30a4\u30f3\u30ab\u30e0\u3092\u5f97\u308b\u300d\u3088\u3046\u306a\u4f7f\u3044\u65b9\u304c\u3067\u304d\u308b\u305f\u3081\u3001\u9577\u671f\u4fdd\u6709\u8005\u306b\u4eba\u6c17\u306e\u3042\u308b\u6226\u7565\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">CSP\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30bb\u30ad\u30e5\u30a2\u30fc\u30c9\u30fb\u30d7\u30c3\u30c8\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u5206\u306e\u73fe\u91d1\u3092\u62c5\u4fdd\u306b\u3057\u3066\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u58f2\u308b\u6226\u7565\u3067\u3059\u3002 <strong>\u300c\u81ea\u5206\u304c\u8cb7\u3044\u305f\u3044\u4fa1\u683c\u300d\u306b\u30d7\u30c3\u30c8\u3092\u58f2\u308b\u3053\u3068\u3067\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u53ce\u5165\u3092\u5f97\u306a\u304c\u3089\u5272\u5b89\u3067\u539f\u8cc7\u7523\u3092\u53d6\u5f97\u3059\u308b\u6a5f\u4f1a\u3092\u4f5c\u308c\u307e\u3059\u3002<\/strong>\u884c\u4f7f\u3055\u308c\u305f\u5834\u5408\u306f\u539f\u8cc7\u7523\u3092\u8cfc\u5165\u3057\u3001\u3055\u308c\u306a\u3051\u308c\u3070\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u5229\u76ca\u306b\u306a\u308a\u307e\u3059\u3002CSP\u306e\u8a73\u7d30\u306f\u300c<a href=\"https:\/\/ichizenholdings.co.jp\/media\/csp-option-trading\" target=\"_blank\" rel=\"noopener noreferrer\">CSP\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30bb\u30ad\u30e5\u30a2\u30fc\u30c9\u30fb\u30d7\u30c3\u30c8\uff09\u3068\u306f\uff1f<\/a>\u300d\u3067\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30db\u30a4\u30fc\u30eb\u6226\u7565\uff08Wheel Strategy\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">CSP\u3068\u30ab\u30d0\u30fc\u30c9\u30b3\u30fc\u30eb\u3092\u5faa\u74b0\u7684\u306b\u7e70\u308a\u8fd4\u3059\u6226\u7565\u3067\u3059\u3002CSP\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u5f97\u308b\u2192\u884c\u4f7f\u3055\u308c\u305f\u3089\u539f\u8cc7\u7523\u3092\u4fdd\u6709\u2192\u30ab\u30d0\u30fc\u30c9\u30b3\u30fc\u30eb\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u5f97\u308b\u2192\u884c\u4f7f\u3055\u308c\u305f\u3089\u539f\u8cc7\u7523\u3092\u58f2\u5374\u2192\u518d\u3073CSP\u2026\u3068\u3044\u3046\u6d41\u308c\u3092\u56de\u3057\u307e\u3059\u3002\u5b9a\u671f\u7684\u306a\u30d7\u30ec\u30df\u30a2\u30e0\u53ce\u5165\u3092\u72d9\u3046\u4e2d\u9577\u671f\u6226\u7565\u3068\u3057\u3066\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d0\u30bf\u30d5\u30e9\u30a4\u30b9\u30d7\u30ec\u30c3\u30c9\uff08Butterfly Spread\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">3\u3064\u306e\u7570\u306a\u308b\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u7d44\u307f\u5408\u308f\u305b\u3001\u300c\u539f\u8cc7\u7523\u304c\u7279\u5b9a\u306e\u4fa1\u683c\u5e2f\u306b\u53ce\u307e\u308b\u300d\u3068\u4e88\u60f3\u3059\u308b\u5834\u5408\u306b\u4f7f\u3046\u6226\u7565\u3067\u3059\u3002\u6700\u5927\u5229\u76ca\u306f\u4e2d\u592e\u306e\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u3067\u5f97\u3089\u308c\u3001\u640d\u5931\u306f\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u4e21\u7aef\u3067\u9650\u5b9a\u3055\u308c\u307e\u3059\u3002\u4f4e\u30b3\u30b9\u30c8\u3067\u30d4\u30f3\u30dd\u30a4\u30f3\u30c8\u306e\u5024\u52d5\u304d\u3092\u72d9\u3048\u308b\u53cd\u9762\u3001\u5229\u76ca\u3092\u51fa\u305b\u308b\u7bc4\u56f2\u304c\u72ed\u3044\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5408\u6210\u30dd\u30b8\u30b7\u30e7\u30f3\uff08\u30b7\u30f3\u30bb\u30c6\u30a3\u30c3\u30af\uff0fSynthetic\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u3068\u539f\u8cc7\u7523\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u3001\u5225\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u540c\u7b49\u306e\u640d\u76ca\u30d1\u30bf\u30fc\u30f3\u3092\u8907\u88fd\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u305f\u3068\u3048\u3070\u300cATM\u30b3\u30fc\u30eb\u8cb7\u3044\uff0bATM\u30d7\u30c3\u30c8\u58f2\u308a\u300d\u306f\u539f\u8cc7\u7523\u306e\u30ed\u30f3\u30b0\uff08\u8cb7\u3044\u6301\u3061\uff09\u3068\u307b\u307c\u540c\u3058\u640d\u76ca\u306b\u306a\u308a\u307e\u3059\u3002\u8cc7\u91d1\u52b9\u7387\u306e\u5411\u4e0a\u3084\u30d8\u30c3\u30b8\u306e\u4ee3\u66ff\u624b\u6bb5\u3068\u3057\u3066\u4f7f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30c7\u30eb\u30bf\u30cb\u30e5\u30fc\u30c8\u30e9\u30eb\uff08Delta Neutral\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30dd\u30b8\u30b7\u30e7\u30f3\u5168\u4f53\u306e\u30c7\u30eb\u30bf\u3092\u30bc\u30ed\u306b\u8fd1\u3065\u3051\u3001\u539f\u8cc7\u7523\u306e\u65b9\u5411\u6027\u30ea\u30b9\u30af\u3092\u6392\u9664\u3057\u305f\u72b6\u614b\u3092\u6307\u3057\u307e\u3059\u3002 <strong>\u65b9\u5411\u306b\u8ced\u3051\u305a\u306b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3084\u30bf\u30a4\u30e0\u30c7\u30a3\u30b1\u30a4\u304b\u3089\u5229\u76ca\u3092\u5f97\u308b<\/strong>\u6226\u7565\u306e\u57fa\u76e4\u3067\u3059\u3002\u305f\u3060\u3057\u539f\u8cc7\u7523\u304c\u52d5\u304f\u305f\u3073\u306b\u30c7\u30eb\u30bf\u304c\u5909\u308f\u308b\u305f\u3081\u3001\u5b9a\u671f\u7684\u306b\u30ea\u30d0\u30e9\u30f3\u30b9\uff08\u30c7\u30eb\u30bf\u30d8\u30c3\u30b8\uff09\u304c\u5fc5\u8981\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ed\u30fc\u30eb\u30aa\u30fc\u30d0\u30fc\uff08Rollover\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6e80\u671f\u304c\u8fd1\u3065\u3044\u305f\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u3001\u540c\u6642\u306b\u671f\u8fd1\u306e\u53cd\u5bfe\u58f2\u8cb7\u3068\u671f\u5148\u306e\u65b0\u898f\u5efa\u3066\u3092\u884c\u3046\u3053\u3068\u3067\u3001\u6b21\u306e\u9650\u6708\u306b\u79fb\u884c\u3055\u305b\u308b\u3053\u3068\u3067\u3059\u3002\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u7d99\u7d9a\u3057\u3064\u3064\u3001\u6e80\u671f\u30ea\u30b9\u30af\u3092\u56de\u907f\u3059\u308b\u306e\u304c\u4e3b\u306a\u76ee\u7684\u3067\u3059\u3002\u30ed\u30fc\u30eb\u30a2\u30c3\u30d7\uff08\u884c\u4f7f\u4fa1\u683c\u3092\u4e0a\u306b\u79fb\u52d5\uff09\u3084\u30ed\u30fc\u30eb\u30c0\u30a6\u30f3\uff08\u4e0b\u306b\u79fb\u52d5\uff09\u3068\u306e\u7d44\u307f\u5408\u308f\u305b\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u5e02\u5834\u69cb\u9020\u30fb\u5236\u5ea6\u306b\u95a2\u3059\u308b\u7528\u8a9e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u5e02\u5834\u306e\u4ed5\u7d44\u307f\u3084\u5236\u5ea6\u3092\u7406\u89e3\u3059\u308b\u305f\u3081\u306e\u7528\u8a9e\u3067\u3059\u3002 <strong>SQ\u30fb\u5efa\u7389\u30fb\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\u306a\u3069\u306f\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u52d5\u304d\u3092\u63a8\u6e2c\u3059\u308b\u3046\u3048\u3067\u3082\u91cd\u8981\u3067\u3059\u3002<\/strong><\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onpoint\"><div class=\"cap_box_ttl\"><span><strong>\u3053\u306e\u7ae0\u306e\u5185\u5bb9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>SQ\u30fb\u9650\u6708\u30fb\u5efa\u7389\uff08OI\uff09\uff5c\u5e02\u5834\u306e\u69cb\u9020\u3092\u793a\u3059\u57fa\u672c\u6307\u6a19<\/li>\n\n\n\n<li>\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\u30fbGEX\u30fbDEX\uff5c\u30aa\u30d7\u30b7\u30e7\u30f3\u30d5\u30ed\u30fc\u304b\u3089\u65b9\u5411\u3092\u63a8\u6e2c\u3059\u308b\u6307\u6a19<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">SQ\uff08Special Quotation\uff0f\u7279\u5225\u6e05\u7b97\u6307\u6570\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u5148\u7269\u306e\u6e80\u671f\u65e5\u306b\u7b97\u51fa\u3055\u308c\u308b\u6700\u7d42\u6c7a\u6e08\u4fa1\u683c\u306e\u3053\u3068\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u306eSQ\u306f\u6bce\u6708\u7b2c2\u91d1\u66dc\u65e5\u306b\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002 <strong>SQ\u9031\u306b\u306f\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u8abf\u6574\u304c\u96c6\u4e2d\u3059\u308b\u305f\u3081\u3001\u76f8\u5834\u304c\u5927\u304d\u304f\u52d5\u304f\u300cSQ\u306b\u7d61\u3080\u4ed5\u639b\u3051\u300d\u304c\u767a\u751f\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/strong>\u5e744\u56de\uff083\u6708\u30fb6\u6708\u30fb9\u6708\u30fb12\u6708\uff09\u306eSQ\u306f\u300c\u30e1\u30b8\u30e3\u30fcSQ\u300d\u3068\u547c\u3070\u308c\u3001\u7279\u306b\u5f71\u97ff\u304c\u5927\u304d\u3044\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u9650\u6708\uff08\u3052\u3093\u3052\u3064\uff0fContract Month\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u6e80\u671f\u304c\u5c5e\u3059\u308b\u6708\u306e\u3053\u3068\u3067\u3059\u3002\u300c7\u6708\u9650\uff08\u3057\u3061\u304c\u3064\u304e\u308a\uff09\u300d\u300c12\u6708\u9650\u300d\u306e\u3088\u3046\u306b\u547c\u3070\u308c\u307e\u3059\u3002\u671f\u8fd1\uff08\u76f4\u8fd1\u306e\u9650\u6708\uff09\u30fb\u671f\u5148\uff08\u9060\u3044\u9650\u6708\uff09\u3068\u547c\u3073\u5206\u3051\u3001\u671f\u8fd1\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u307b\u3069\u30bf\u30a4\u30e0\u30c7\u30a3\u30b1\u30a4\u304c\u901f\u304f\u3001\u671f\u5148\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u307b\u3069\u6642\u9593\u7684\u4fa1\u5024\u304c\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5efa\u7389\uff08\u305f\u3066\u304e\u3087\u304f\uff09\uff0fOI\uff08Open Interest\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e02\u5834\u5168\u4f53\u3067\u672a\u6c7a\u6e08\u306e\u307e\u307e\u6b8b\u3063\u3066\u3044\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u5951\u7d04\u306e\u7dcf\u6570\u3067\u3059\u3002 <strong>\u5efa\u7389\u306e\u5206\u5e03\u3092\u898b\u308b\u3053\u3068\u3067\u3001\u5e02\u5834\u53c2\u52a0\u8005\u304c\u3069\u306e\u4fa1\u683c\u5e2f\u306b\u300c\u58c1\u300d\u3092\u4f5c\u3063\u3066\u3044\u308b\u304b\u3092\u63a8\u6e2c\u3067\u304d\u307e\u3059\u3002<\/strong>\u305f\u3060\u3057\u3001\u5efa\u7389\u3060\u3051\u3067\u306f\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u306e\u3069\u3061\u3089\u304c\u6301\u3063\u3066\u3044\u308b\u304b\u3001\u30c7\u30a3\u30fc\u30e9\u30fc\u304c\u30ed\u30f3\u30b0\u304b\u30b7\u30e7\u30fc\u30c8\u304b\u3092\u78ba\u5b9a\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\uff08\u203b2\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\uff08Max Pain\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">SQ\u6642\u70b9\u3067\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cb7\u3044\u624b\u5168\u4f53\u306e\u640d\u5931\u304c\u6700\u5927\uff08\uff1d\u58f2\u308a\u624b\u306e\u5229\u76ca\u304c\u6700\u5927\uff09\u3068\u306a\u308b\u539f\u8cc7\u7523\u4fa1\u683c\u306e\u3053\u3068\u3067\u3059\u3002\u300c\u6e80\u671f\u306b\u304b\u3051\u3066\u539f\u8cc7\u7523\u4fa1\u683c\u304c\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\u306b\u5f15\u304d\u5bc4\u305b\u3089\u308c\u308b\u300d\u3068\u3044\u3046\u4eee\u8aac\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u3042\u304f\u307e\u3067\u7d71\u8a08\u7684\u306a\u50be\u5411\u3067\u3042\u308a\u3001\u6bce\u56de\u305d\u3046\u306a\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">GEX\uff08\u30ac\u30f3\u30de\u30fb\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e02\u5834\u5168\u4f53\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30ac\u30f3\u30de\u3092\u30c9\u30eb\uff08\u307e\u305f\u306f\u5186\uff09\u5358\u4f4d\u3067\u96c6\u8a08\u3057\u305f\u6307\u6a19\u3067\u3059\u3002 <strong>GEX\u304c\u30d7\u30e9\u30b9\uff08\u30dd\u30b8\u30c6\u30a3\u30d6\u30ac\u30f3\u30de\u74b0\u5883\uff09\u3067\u306f\u30c7\u30a3\u30fc\u30e9\u30fc\u306e\u30d8\u30c3\u30b8\u304c\u5024\u52d5\u304d\u3092\u6291\u5236\u3057\u3001\u30de\u30a4\u30ca\u30b9\uff08\u30cd\u30ac\u30c6\u30a3\u30d6\u30ac\u30f3\u30de\u74b0\u5883\uff09\u3067\u306f\u5024\u52d5\u304d\u3092\u5897\u5e45\u3059\u308b\u50be\u5411\u304c\u3042\u308b<\/strong>\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u30d9\u30f3\u30c0\u30fc\u304c\u516c\u958b\u3059\u308bGEX\u306e\u7b26\u53f7\u3092\u30c7\u30a3\u30fc\u30e9\u30fc\u306e\u5b9f\u969b\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u76f4\u63a5\u540c\u4e00\u8996\u3059\u308b\u3053\u3068\u306b\u306f\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002GEX\u306f\u63a8\u5b9a\u5024\u3067\u3042\u308a\u3001\u524d\u63d0\u306e\u7f6e\u304d\u65b9\u306b\u3088\u3063\u3066\u6570\u5024\u304c\u5909\u308f\u308a\u307e\u3059\uff08\u203b2\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">DEX\uff08\u30c7\u30eb\u30bf\u30fb\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e02\u5834\u5168\u4f53\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30c7\u30eb\u30bf\u3092\u30c9\u30eb\uff08\u307e\u305f\u306f\u5186\uff09\u5358\u4f4d\u3067\u96c6\u8a08\u3057\u305f\u6307\u6a19\u3067\u3059\u3002\u30c7\u30eb\u30bf\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u306e\u5909\u5316\u306f\u3001\u30c7\u30a3\u30fc\u30e9\u30fc\u304c\u30d8\u30c3\u30b8\u306e\u305f\u3081\u306b\u884c\u3046\u539f\u8cc7\u7523\u306e\u58f2\u8cb7\u91cf\u3092\u63a8\u6e2c\u3059\u308b\u624b\u304c\u304b\u308a\u306b\u306a\u308a\u307e\u3059\u3002GEX\u3068\u4f75\u305b\u3066\u300c\u30aa\u30d7\u30b7\u30e7\u30f3\u30d5\u30ed\u30fc\u304c\u539f\u8cc7\u7523\u306e\u5024\u52d5\u304d\u306b\u3069\u3046\u5f71\u97ff\u3059\u308b\u304b\u300d\u3092\u5206\u6790\u3059\u308b\u306e\u306b\u4f7f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30aa\u30d7\u30b7\u30e7\u30f3\u30c1\u30a7\u30fc\u30f3\uff08Option Chain\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7279\u5b9a\u306e\u539f\u8cc7\u7523\u306b\u3064\u3044\u3066\u3001\u3059\u3079\u3066\u306e\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u3068\u6e80\u671f\u306e\u7d44\u307f\u5408\u308f\u305b\u3092\u4e00\u89a7\u8868\u793a\u3057\u305f\u3082\u306e\u3067\u3059\u3002\u5404\u884c\u4f7f\u4fa1\u683c\u306e\u30d7\u30ec\u30df\u30a2\u30e0\u30fb\u51fa\u6765\u9ad8\u30fb\u5efa\u7389\u30fb\u30b0\u30ea\u30fc\u30af\u30b9\u306a\u3069\u304c\u78ba\u8a8d\u3067\u304d\u3001\u53d6\u5f15\u5bfe\u8c61\u3092\u9078\u3076\u969b\u306e\u57fa\u672c\u30c4\u30fc\u30eb\u306b\u306a\u308a\u307e\u3059\u3002 <strong>\u300c\u677f\u3092\u898b\u308b\u300d\u3068\u306f\u30aa\u30d7\u30b7\u30e7\u30f3\u30c1\u30a7\u30fc\u30f3\u3092\u5206\u6790\u3059\u308b\u3053\u3068\u3092\u6307\u3059\u5834\u5408\u304c\u591a\u3044\u3067\u3059\u3002<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8a3c\u62e0\u91d1\uff08Margin\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u58f2\u308a\u624b\u304c\u53d6\u5f15\u6240\u306b\u5dee\u3057\u5165\u308c\u308b\u62c5\u4fdd\u91d1\u306e\u3053\u3068\u3067\u3059\u3002\u58f2\u308a\u624b\u306f\u7406\u8ad6\u4e0a\u306e\u640d\u5931\u304c\u7121\u9650\u5927\u306b\u306a\u308a\u3046\u308b\u305f\u3081\u3001\u5341\u5206\u306a\u8a3c\u62e0\u91d1\u306e\u7dad\u6301\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u8a3c\u62e0\u91d1\u304c\u4e0d\u8db3\u3059\u308b\u3068\u8ffd\u8a3c\uff08\u8ffd\u52a0\u8a3c\u62e0\u91d1\uff09\u304c\u767a\u751f\u3057\u3001\u671f\u9650\u307e\u3067\u306b\u5165\u91d1\u3067\u304d\u306a\u3044\u5834\u5408\u306f\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u5f37\u5236\u6c7a\u6e08\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ac\u30f3\u30de\u30b9\u30af\u30a4\u30fc\u30ba\uff08Gamma Squeeze\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5efa\u7389\u304c\u6025\u5897\u3057\u305f\u969b\u306b\u3001\u58f2\u308a\u624b\uff08\u4e3b\u306b\u30de\u30fc\u30b1\u30c3\u30c8\u30e1\u30fc\u30ab\u30fc\uff09\u306e\u30c7\u30eb\u30bf\u30d8\u30c3\u30b8\uff08\u539f\u8cc7\u7523\u306e\u8cb7\u3044\uff09\u304c\u9023\u9396\u7684\u306b\u539f\u8cc7\u7523\u3092\u62bc\u3057\u4e0a\u3052\u308b\u73fe\u8c61\u3067\u3059\u30022021\u5e74\u306eGameStop\u9a12\u52d5\u3067\u5e83\u304f\u77e5\u3089\u308c\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002 <strong>\u30d8\u30c3\u30b8\u30d5\u30ed\u30fc\u304c\u65b9\u5411\u3092\u5897\u5e45\u3059\u308b\u4ed5\u7d44\u307f\u306e\u5178\u578b\u4f8b\u3067\u3042\u308a\u3001<\/strong>\u300c\u5927\u53e3\u304c\u4fa1\u683c\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u300d\u3068\u65ad\u5b9a\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u30d8\u30c3\u30b8\u30e1\u30ab\u30cb\u30ba\u30e0\u306e\u7d50\u679c\u3068\u3057\u3066\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\uff08\u203b2\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08Perpetual Option\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6e80\u671f\u304c\u306a\u304f\u7121\u671f\u9650\u3067\u4fdd\u6709\u3067\u304d\u308b\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u3059\u3002\u6697\u53f7\u8cc7\u7523\u306eDeFi\uff08\u5206\u6563\u578b\u91d1\u878d\uff09\u9818\u57df\u3067\u767b\u5834\u3057\u305f\u65b0\u3057\u3044\u5546\u54c1\u5f62\u614b\u3067\u3001\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\u5148\u7269\uff08\u6c38\u4e45\u30b9\u30ef\u30c3\u30d7\uff09\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u7248\u306b\u3042\u305f\u308a\u307e\u3059\u3002\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u30ec\u30fc\u30c8\uff08\u8cc7\u91d1\u8abf\u9054\u7387\uff09\u306e\u4ed5\u7d44\u307f\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u8abf\u6574\u3055\u308c\u308b\u70b9\u304c\u5f93\u6765\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u3068\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30aa\u30d7\u30b7\u30e7\u30f3\u7528\u8a9e\u3092\u5b66\u3076\u969b\u306e\u6ce8\u610f\u70b9<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u306f\u6570\u304c\u591a\u304f\u3001\u521d\u5fc3\u8005\u304c\u3064\u307e\u305a\u304d\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u304c\u3044\u304f\u3064\u304b\u3042\u308a\u307e\u3059\u3002 <strong>\u7528\u8a9e\u306e\u6697\u8a18\u3088\u308a\u3082\u300c\u7528\u8a9e\u540c\u58eb\u306e\u3064\u306a\u304c\u308a\u300d\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u3001\u5b9f\u969b\u306e\u53d6\u5f15\u3067\u4f7f\u3048\u308b\u77e5\u8b58\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-good_list\"><div class=\"cap_box_ttl\"><span><strong>\u52b9\u7387\u7684\u306a\u5b66\u3073\u65b9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u307e\u305a\u57fa\u672c\u7528\u8a9e\uff08\u30b3\u30fc\u30eb\u30fb\u30d7\u30c3\u30c8\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u30fb\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u6e80\u671f\uff09\u306e5\u8a9e\u3092\u899a\u3048\u308b<\/li>\n\n\n\n<li>\u6b21\u306bITM\/ATM\/OTM\u3068\u672c\u6e90\u7684\u4fa1\u5024\u30fb\u6642\u9593\u7684\u4fa1\u5024\u306e\u95a2\u4fc2\u3092\u7406\u89e3\u3059\u308b<\/li>\n\n\n\n<li>\u30b0\u30ea\u30fc\u30af\u30b9\u306f\u30c7\u30eb\u30bf\u3068\u30bb\u30fc\u30bf\u304b\u3089\u59cb\u3081\u3001\u5b9f\u969b\u306b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u6301\u3064\u6bb5\u968e\u3067\u30ac\u30f3\u30de\u30fb\u30d9\u30ac\u3092\u8ffd\u52a0\u3059\u308b<\/li>\n\n\n\n<li>GEX\u3084\u30b9\u30ad\u30e5\u30fc\u306a\u3069\u306e\u5e02\u5834\u69cb\u9020\u7528\u8a9e\u306f\u3001\u6226\u7565\u3092\u7d44\u3080\u30d5\u30a7\u30fc\u30ba\u3067\u5fc5\u8981\u306b\u5fdc\u3058\u3066\u5b66\u3076<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-bad_list\"><div class=\"cap_box_ttl\"><span><strong>\u3088\u304f\u3042\u308b\u8aa4\u89e3\u30fb\u6ce8\u610f\u70b9<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u300c\u30c7\u30eb\u30bf\uff1dd1\u300d\u3068\u899a\u3048\u3066\u3057\u307e\u3046\u2192\u6b63\u3057\u304f\u306f\u30b3\u30fc\u30eb\u30c7\u30eb\u30bf\uff1dN(d1)\uff08\u7d2f\u7a4d\u5206\u5e03\u95a2\u6570\uff09<\/li>\n\n\n\n<li>\u640d\u76ca\u8a08\u7b97\u3067max(0, \u2026)\u3092\u7701\u7565\u3059\u308b\u2192\u672c\u6e90\u7684\u4fa1\u5024\u306e\u4e0b\u9650\u306f\u30bc\u30ed\u3002\u30de\u30a4\u30ca\u30b9\u306b\u306f\u306a\u3089\u306a\u3044<\/li>\n\n\n\n<li>\u5efa\u7389\uff08OI\uff09\u3060\u3051\u3067\u8cb7\u3044\u624b\/\u58f2\u308a\u624b\u30fb\u30c7\u30a3\u30fc\u30e9\u30fc\u306e\u30ed\u30f3\u30b0\/\u30b7\u30e7\u30fc\u30c8\u3092\u65ad\u5b9a\u3059\u308b\u2192OI\u306f\u7dcf\u91cf\u3067\u3042\u308a\u3001\u5185\u8a33\u306f\u78ba\u5b9a\u3067\u304d\u306a\u3044<\/li>\n\n\n\n<li>GEX\u306e\u7b26\u53f7\u3092\u305d\u306e\u307e\u307e\u30c7\u30a3\u30fc\u30e9\u30fc\u306e\u5b9f\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u540c\u4e00\u8996\u3059\u308b\u2192\u63a8\u5b9a\u5024\u3067\u3042\u308a\u524d\u63d0\u6b21\u7b2c\u3067\u5909\u308f\u308b<\/li>\n\n\n\n<li>\u300c\u5927\u53e3\u304c\u4fa1\u683c\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3057\u3066\u3044\u308b\u300d\u3068\u65ad\u5b9a\u3059\u308b\u2192\u30d8\u30c3\u30b8\u30d5\u30ed\u30fc\u304c\u65b9\u5411\u3092\u5897\u5e45\u30fb\u6291\u5236\u3057\u5f97\u308b\u3068\u8868\u73fe\u3059\u308b\u306e\u304c\u6b63\u78ba<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">ICHIZEN Capital\u306e\u8996\u70b9\uff5c\u7528\u8a9e\u3092\u300c\u4f7f\u3048\u308b\u77e5\u8b58\u300d\u306b\u3059\u308b\u305f\u3081\u306b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">ICHIZEN Capital\u3067\u306f\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u306eOI\u30fbGEX\u30fbIV\u30fb\u30b9\u30ad\u30e5\u30fc\u30fb\u6e80\u671f\u30fb\u30d8\u30c3\u30b8\u30d5\u30ed\u30fc\u304b\u3089 <strong>\u5e02\u5834\u53c2\u52a0\u8005\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u884c\u52d5\u3092\u63a8\u6e2c\u3057\u3001\u73fe\u7269\u30fb\u5148\u7269\u30fb\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\u306e\u65b9\u5411\u5224\u65ad\u3068\u30ea\u30b9\u30af\u7ba1\u7406\u306b\u6d3b\u7528\u3059\u308b\u5206\u6790<\/strong>\u3092\u4e00\u8cab\u3057\u3066\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u5206\u6790\u3067\u91cd\u8981\u306a\u306e\u306f\u3001\u7528\u8a9e\u3092\u5358\u4f53\u3067\u899a\u3048\u308b\u3053\u3068\u3067\u306f\u306a\u304f\u3001 <strong>\u7528\u8a9e\u540c\u58eb\u304c\u3069\u3046\u3064\u306a\u304c\u3063\u3066\u3044\u308b\u304b<\/strong>\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u305f\u3068\u3048\u3070\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u6d41\u308c\u3067\u8907\u6570\u306e\u7528\u8a9e\u304c\u9023\u52d5\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u30de\u30af\u30ed\u74b0\u5883\u30fb\u6d41\u52d5\u6027\u30fbETF\u30d5\u30ed\u30fc\u3067\u5927\u304d\u306a\u65b9\u5411\u611f\u3092\u628a\u63e1<\/li>\n\n\n\n<li>\u6e80\u671f\u5225\u306eOI\u5206\u5e03\u30fbGEX\u30fbDEX\u30fbIV\u30fb\u30b9\u30ad\u30e5\u30fc\u30fb\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\u3092\u78ba\u8a8d<\/li>\n\n\n\n<li>\u30c7\u30a3\u30fc\u30e9\u30fc\u7b49\u306e\u30d8\u30c3\u30b8\u30d5\u30ed\u30fc\u304c\u4e0a\u6607\u30fb\u4e0b\u843d\u3092\u6291\u5236\/\u5897\u5e45\u3057\u5f97\u308b\u4fa1\u683c\u5e2f\u3092\u63a8\u6e2c<\/li>\n\n\n\n<li>\u30c6\u30af\u30cb\u30ab\u30eb\u5206\u6790\u3067\u5177\u4f53\u7684\u306a\u30a8\u30f3\u30c8\u30ea\u30fc\u30fb\u640d\u5207\u308a\u30fb\u5229\u78ba\u3092\u6c7a\u5b9a<\/li>\n\n\n\n<li>\u524d\u63d0\u304c\u5d29\u308c\u305f\u3089\u30b7\u30ca\u30ea\u30aa\u3092\u66f4\u65b0\uff08\u300c\u64a4\u56de\u6761\u4ef6\u300d\u3092\u6301\u3064\u3053\u3068\u3082\u4fa1\u5024\u304c\u3042\u308b\uff09<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">2025\u5e7410\u6708\u306eBTC\u6700\u9ad8\u5024\u66f4\u65b0\u2192\u6025\u843d\u306e\u5c40\u9762\u3067\u306f\u3001\u4e8b\u524d\u306b\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5efa\u7389\u5206\u5e03\u3084GEX\u74b0\u5883\u3092\u5206\u6790\u3057\u3001\u300c\u6700\u9ad8\u5024\u66f4\u65b0\u5f8c\u306b10\u6708\u672b\u6e80\u671f\u306b\u304b\u3051\u3066\u4e0b\u843d\u3059\u308b\u30b7\u30ca\u30ea\u30aa\u300d\u3092\u8a18\u4e8b\u3068\u3057\u3066\u516c\u958b\u3057\u3066\u3044\u307e\u3057\u305f\uff08\u203b3\uff09\u3002 <strong>\u4e88\u6e2c\u304c\u5916\u308c\u305f\u90e8\u5206\uff08\u6025\u843d\u306e\u901f\u5ea6\u3068\u6df1\u3055\u306f\u60f3\u5b9a\u3092\u8d85\u3048\u305f\uff09\u3082\u542b\u3081\u3066\u958b\u793a\u3059\u308b\u3053\u3068\u304c\u3001\u5206\u6790\u30d7\u30ed\u30bb\u30b9\u306e\u4fe1\u983c\u6027\u3092\u9ad8\u3081\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/strong><\/p>\n\n\n<div class=\"swell-block-balloon\"><div class=\"c-balloon -bln-left\" data-col=\"gray\"><div class=\"c-balloon__icon -square\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/ichizenholdings.co.jp\/media\/wp-content\/uploads\/2025\/06\/59-150x150.png\" alt=\"\" class=\"c-balloon__iconImg\" width=\"80px\" height=\"80px\"><span class=\"c-balloon__iconName\">\u6728\u7530 \u967d\u4ecb<\/span><\/div><div class=\"c-balloon__body -speaking -border-none\"><div class=\"c-balloon__text\">\n<p><span class=\"swl-fz u-fz-s\">\u7528\u8a9e\u3092\u899a\u3048\u308b\u76ee\u7684\u306f\u300c\u8a66\u9a13\u306b\u53d7\u304b\u308b\u300d\u305f\u3081\u3067\u306f\u306a\u304f\u300c\u5e02\u5834\u304c\u4f55\u3092\u8a00\u3063\u3066\u3044\u308b\u304b\u8aad\u3081\u308b\u3088\u3046\u306b\u306a\u308b\u300d\u305f\u3081\u3067\u3059\u3002\u5b9f\u969b\u306e\u76f8\u5834\u3067\u300c\u30dd\u30b8\u30c6\u30a3\u30d6\u30ac\u30f3\u30de\u74b0\u5883\u3067\u30de\u30c3\u30af\u30b9\u30da\u30a4\u30f3\u304c\u3007\u3007\u30c9\u30eb\u300d\u3068\u3044\u3046\u60c5\u5831\u304c\u6d41\u308c\u305f\u3068\u304d\u3001\u3053\u306e\u7528\u8a9e\u96c6\u306e\u77e5\u8b58\u304c\u3042\u308c\u3070\u300c\u5024\u52d5\u304d\u304c\u6291\u5236\u3055\u308c\u3084\u3059\u304f\u3001\u6e80\u671f\u306b\u304b\u3051\u3066\u3007\u3007\u30c9\u30eb\u306b\u5bc4\u308b\u50be\u5411\u304c\u3042\u308b\u300d\u3068\u3059\u3050\u306b\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<span class=\"c-balloon__shapes\"><span class=\"c-balloon__before\"><\/span><span class=\"c-balloon__after\"><\/span><\/span><\/div><\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\">\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n<div class=\"swell-block-faq\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\">\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u3067\u6700\u521d\u306b\u899a\u3048\u308b\u3079\u304d\u3082\u306e\u306f\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u307e\u305a\u306f\u300c\u30b3\u30fc\u30eb\u300d\u300c\u30d7\u30c3\u30c8\u300d\u300c\u30d7\u30ec\u30df\u30a2\u30e0\u300d\u300c\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u300d\u300c\u6e80\u671f\u65e5\u300d\u306e5\u8a9e\u3092\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002\u3053\u306e5\u3064\u304c\u308f\u304b\u308c\u3070\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u57fa\u672c\u7684\u306a\u4ed5\u7d44\u307f\u306f\u7406\u89e3\u3067\u304d\u307e\u3059\u3002\u305d\u306e\u5f8c\u3001ITM\/ATM\/OTM\u3068\u30c7\u30eb\u30bf\u30fb\u30bb\u30fc\u30bf\u3092\u8ffd\u52a0\u3059\u308c\u3070\u3001\u5b9f\u969b\u306e\u53d6\u5f15\u5224\u65ad\u306b\u4f7f\u3048\u308b\u6c34\u6e96\u306b\u9054\u3057\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u30b3\u30fc\u30eb\u3068\u30d7\u30c3\u30c8\u306e\u9055\u3044\u306f\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u30b3\u30fc\u30eb\u306f\u300c\u8cb7\u3046\u6a29\u5229\u300d\u3001\u30d7\u30c3\u30c8\u306f\u300c\u58f2\u308b\u6a29\u5229\u300d\u3067\u3059\u3002\u539f\u8cc7\u7523\u306e\u4fa1\u683c\u4e0a\u6607\u3067\u5229\u76ca\u304c\u51fa\u308b\u306e\u304c\u30b3\u30fc\u30eb\u3001\u4e0b\u843d\u3067\u5229\u76ca\u304c\u51fa\u308b\u306e\u304c\u30d7\u30c3\u30c8\u3067\u3059\u3002\u3069\u3061\u3089\u3082\u8cb7\u3044\u624b\u306e\u6700\u5927\u640d\u5931\u306f\u30d7\u30ec\u30df\u30a2\u30e0\uff08\u8cfc\u5165\u4ee3\u91d1\uff09\u306b\u9650\u5b9a\u3055\u308c\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30b0\u30ea\u30fc\u30af\u30b9\uff08\u30ae\u30ea\u30b7\u30e3\u6307\u6a19\uff09\u306f\u5168\u90e8\u899a\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u3044\u3044\u3048\u3001\u5168\u90e8\u3092\u4e00\u5ea6\u306b\u899a\u3048\u308b\u5fc5\u8981\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u521d\u5fc3\u8005\u306f\u30c7\u30eb\u30bf\uff08\u65b9\u5411\u6027\u30ea\u30b9\u30af\uff09\u3068\u30bb\u30fc\u30bf\uff08\u6642\u9593\u306b\u3088\u308b\u6e1b\u8870\uff09\u306e2\u3064\u304b\u3089\u59cb\u3081\u307e\u3057\u3087\u3046\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u6226\u7565\u3084\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30c8\u30ec\u30fc\u30c9\u306b\u9032\u3080\u6bb5\u968e\u3067\u30ac\u30f3\u30de\u3068\u30d9\u30ac\u3092\u8ffd\u52a0\u3059\u308c\u3070\u5341\u5206\u3067\u3059\u3002\u30ed\u30fc\u306f\u9577\u671f\u30aa\u30d7\u30b7\u30e7\u30f3\u4ee5\u5916\u3067\u306f\u307b\u307c\u4f7f\u3044\u307e\u305b\u3093\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">IV\u3068HV\u306e\u9055\u3044\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">IV\u306f\u30aa\u30d7\u30b7\u30e7\u30f3\u4fa1\u683c\u304b\u3089\u9006\u7b97\u3057\u305f\u300c\u5e02\u5834\u304c\u4e88\u60f3\u3059\u308b\u5c06\u6765\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u300d\u3001HV\u306f\u904e\u53bb\u306e\u4fa1\u683c\u30c7\u30fc\u30bf\u304b\u3089\u8a08\u7b97\u3057\u305f\u300c\u5b9f\u969b\u306b\u8d77\u304d\u305f\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u300d\u3067\u3059\u3002IV\uff1eHV\u306a\u3089\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u5272\u9ad8\uff08\u58f2\u308a\u6709\u5229\uff09\u3001IV\uff1cHV\u306a\u3089\u5272\u5b89\uff08\u8cb7\u3044\u6709\u5229\uff09\u3068\u5224\u65ad\u3059\u308b\u6750\u6599\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">SQ\u3068\u306f\u4f55\u3067\u3059\u304b\uff1f\u306a\u305c\u76f8\u5834\u306b\u5f71\u97ff\u3059\u308b\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">SQ\uff08Special Quotation\uff09\u306f\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u5148\u7269\u306e\u6700\u7d42\u6c7a\u6e08\u4fa1\u683c\u3067\u3059\u3002\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u6bce\u6708\u7b2c2\u91d1\u66dc\u65e5\u306b\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002SQ\u524d\u306b\u306f\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u8abf\u6574\u304c\u96c6\u4e2d\u3057\u3001\u30d8\u30c3\u30b8\u306e\u89e3\u6d88\u3084\u65b0\u898f\u5efa\u3066\u304c\u76f8\u5834\u3092\u5927\u304d\u304f\u52d5\u304b\u3059\u3053\u3068\u304c\u3042\u308b\u305f\u3081\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u3082SQ\u65e5\u3092\u610f\u8b58\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3068\u5148\u7269\u53d6\u5f15\u306e\u7528\u8a9e\u306f\u3069\u3046\u9055\u3046\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u5148\u7269\u53d6\u5f15\u306f\u300c\u58f2\u8cb7\u306e\u7fa9\u52d9\u300d\u3067\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306f\u300c\u58f2\u8cb7\u306e\u6a29\u5229\u300d\u304c\u5bfe\u8c61\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u30aa\u30d7\u30b7\u30e7\u30f3\u56fa\u6709\u306e\u7528\u8a9e\uff08\u30d7\u30ec\u30df\u30a2\u30e0\u3001\u6a29\u5229\u884c\u4f7f\u3001ITM\/OTM\u3001\u30b0\u30ea\u30fc\u30af\u30b9\u306a\u3069\uff09\u304c\u591a\u6570\u3042\u308a\u307e\u3059\u3002\u4e00\u65b9\u3001SQ\u30fb\u9650\u6708\u30fb\u5efa\u7389\u30fb\u8a3c\u62e0\u91d1\u306a\u3069\u306f\u5148\u7269\u3068\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u5171\u901a\u3057\u3066\u4f7f\u308f\u308c\u308b\u7528\u8a9e\u3067\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u6697\u53f7\u8cc7\u7523\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3067\u4f7f\u308f\u308c\u308b\u72ec\u81ea\u306e\u7528\u8a9e\u306f\u3042\u308b\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u306f\u3044\u3002DVOL\uff08Deribit\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u6307\u6570\uff09\u3084\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u6e80\u671f\u306a\u3057\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\uff09\u306f\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u7279\u6709\u306e\u7528\u8a9e\u3067\u3059\u3002\u307e\u305f\u3001\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u3067\u306f\u5dee\u91d1\u6c7a\u6e08\u304cBTC\u3084USDT\u3067\u884c\u308f\u308c\u308b\u5834\u5408\u304c\u3042\u308a\u3001\u4f1d\u7d71\u91d1\u878d\u306e\u73fe\u91d1\u6c7a\u6e08\u3068\u306f\u4ed5\u7d44\u307f\u304c\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u3092\u52b9\u7387\u7684\u306b\u52c9\u5f37\u3059\u308b\u65b9\u6cd5\u306f\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u307e\u305a\u57fa\u672c5\u8a9e\uff08\u30b3\u30fc\u30eb\u30fb\u30d7\u30c3\u30c8\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u30fb\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u6e80\u671f\uff09\u3092\u7406\u89e3\u3057\u3001\u30c7\u30e2\u30c8\u30ec\u30fc\u30c9\u3067\u5b9f\u969b\u306b\u30aa\u30d7\u30b7\u30e7\u30f3\u30c1\u30a7\u30fc\u30f3\u3092\u898b\u306a\u304c\u3089\u7528\u8a9e\u3092\u78ba\u8a8d\u3059\u308b\u306e\u304c\u6700\u3082\u52b9\u7387\u7684\u3067\u3059\u3002\u6559\u79d1\u66f8\u3067\u5168\u7528\u8a9e\u3092\u6697\u8a18\u3057\u3066\u304b\u3089\u59cb\u3081\u308b\u3088\u308a\u3001\u57fa\u672c\u3092\u62bc\u3055\u3048\u305f\u3089\u5b9f\u969b\u306e\u753b\u9762\u306b\u89e6\u308c\u3001\u5fc5\u8981\u306a\u7528\u8a9e\u3092\u305d\u306e\u90fd\u5ea6\u8abf\u3079\u308b\u65b9\u304c\u5b9a\u7740\u3057\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<details class=\"faq_item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><summary class=\"faq_q\" itemprop=\"name\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7a0e\u91d1\u306b\u95a2\u3059\u308b\u7528\u8a9e\u3067\u6ce8\u610f\u3059\u3079\u304d\u3053\u3068\u306f\uff1f<\/summary><div class=\"faq_a\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div itemprop=\"text\">\n<p class=\"wp-block-paragraph\">\u65e5\u7d4c225\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5229\u76ca\u306f\u300c\u5148\u7269\u53d6\u5f15\u306b\u4fc2\u308b\u96d1\u6240\u5f97\u7b49\u300d\u3068\u3057\u3066\u7533\u544a\u5206\u96e2\u8ab2\u7a0e\uff08\u7a0e\u738720.315%\uff09\u304c\u9069\u7528\u3055\u308c\u307e\u3059\u3002\u4e00\u65b9\u3001\u6697\u53f7\u8cc7\u7523\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u5229\u76ca\u306f\u300c\u96d1\u6240\u5f97\u300d\u3068\u3057\u3066\u7dcf\u5408\u8ab2\u7a0e\uff08\u7a0e\u7387\u6700\u5927\u7d0455%\uff09\u304c\u9069\u7528\u3055\u308c\u308b\u305f\u3081\u3001\u540c\u3058\u300c\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u300d\u3067\u3082\u539f\u8cc7\u7523\u306b\u3088\u3063\u3066\u7a0e\u5236\u304c\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u30022028\u5e74\u5ea6\u306b\u306f\u6697\u53f7\u8cc7\u7523\u306e\u5206\u96e2\u8ab2\u7a0e\u3078\u306e\u79fb\u884c\u304c\u8b70\u8ad6\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/div><\/div><\/details>\n\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">\u307e\u3068\u3081<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u306f\u591a\u5c90\u306b\u308f\u305f\u308a\u307e\u3059\u304c\u3001 <strong>\u57fa\u672c\u7528\u8a9e\u2192\u4fa1\u683c\u30fb\u640d\u76ca\u2192\u30b0\u30ea\u30fc\u30af\u30b9\u2192\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u2192\u6226\u7565\u2192\u5e02\u5834\u69cb\u9020\u306e\u9806\u306b\u3001\u6bb5\u968e\u7684\u306b\u5b66\u3076\u3053\u3068\u3067\u52b9\u7387\u7684\u306b\u7fd2\u5f97\u3067\u304d\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6700\u521d\u306b\u899a\u3048\u308b\u3079\u304d\u306f\u30b3\u30fc\u30eb\u30fb\u30d7\u30c3\u30c8\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u30fb\u6a29\u5229\u884c\u4f7f\u4fa1\u683c\u30fb\u6e80\u671f\u65e5\u306e5\u8a9e\u3067\u3059\u3002\u3053\u306e5\u8a9e\u3092\u8d77\u70b9\u306b\u3001ITM\/ATM\/OTM\u3084\u30c7\u30eb\u30bf\u30fb\u30bb\u30fc\u30bf\u3078\u3068\u77e5\u8b58\u3092\u5e83\u3052\u3066\u3044\u3051\u3070\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u30c1\u30a7\u30fc\u30f3\u306e\u8aad\u307f\u65b9\u3084\u30cb\u30e5\u30fc\u30b9\u306e\u610f\u5473\u304c\u81ea\u7136\u3068\u7406\u89e3\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GEX\u3084\u30b9\u30ad\u30e5\u30fc\u306a\u3069\u306e\u9ad8\u5ea6\u306a\u7528\u8a9e\u306f\u3001\u5b9f\u969b\u306b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u53d6\u3063\u305f\u308a\u6226\u7565\u3092\u7d44\u3080\u6bb5\u968e\u3067\u5fc5\u8981\u306b\u5fdc\u3058\u3066\u5b66\u3079\u3070\u5341\u5206\u3067\u3059\u3002 <strong>\u7528\u8a9e\u3092\u300c\u6697\u8a18\u3059\u308b\u300d\u306e\u3067\u306f\u306a\u304f\u300c\u76f8\u5834\u306e\u3069\u306e\u5834\u9762\u3067\u4f7f\u3046\u304b\u300d\u3092\u610f\u8b58\u3057\u306a\u304c\u3089\u5b66\u3076\u3053\u3068\u304c\u3001\u5b9f\u8df5\u529b\u306b\u76f4\u7d50\u3057\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">\uff08\u203b1\uff09\u30d6\u30e9\u30c3\u30af\u30fb\u30b7\u30e7\u30fc\u30eb\u30ba\u30fb\u30e2\u30c7\u30eb\u306b\u304a\u3051\u308b\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30c7\u30eb\u30bf\u306e\u5c0e\u51fa\u306b\u3064\u3044\u3066\u306f\u3001John C. Hull\u300eOptions, Futures, and Other Derivatives\u300f\uff08Pearson\uff09\u7b2c21\u7ae0\u3092\u53c2\u7167\u3002<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">\uff08\u203b2\uff09OI\u30fbGEX\u306e\u89e3\u91c8\u4e0a\u306e\u6ce8\u610f\u70b9\u306b\u3064\u3044\u3066\u306f\u3001ICHIZEN Capital\u306e\u81ea\u793e\u5206\u6790\u30d7\u30ed\u30bb\u30b9\u306b\u57fa\u3065\u304f\u3002OI\u3060\u3051\u3067\u8cb7\u3044\u624b\/\u58f2\u308a\u624b\u3092\u78ba\u5b9a\u3067\u304d\u306a\u3044\u3053\u3068\u3001\u30d9\u30f3\u30c0\u30fc\u4ed8\u4e0e\u306eGEX\u7b26\u53f7\u306f\u30c7\u30a3\u30fc\u30e9\u30fc\u306e\u5b9f\u4fdd\u6709\u3068\u76f4\u63a5\u540c\u4e00\u8996\u3067\u304d\u306a\u3044\u3053\u3068\u3092\u7559\u610f\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">\uff08\u203b3\uff092025\u5e7410\u6708\u306eBTC\u6700\u9ad8\u5024\u66f4\u65b0\u2192\u6025\u843d\u306e\u4e8b\u524d\u5206\u6790\u306b\u3064\u3044\u3066\u306f\u3001ICHIZEN Capital note\u8a18\u4e8b\u300cBTC\u30aa\u30d7\u30b7\u30e7\u30f3\u5206\u6790\uff0b\u91cd\u8981\u4fa1\u683c\u5e2f\u300d\uff082025\u5e7410\u67082\u65e5\u516c\u958b\uff09\u3092\u53c2\u7167\u3002<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\">\u53c2\u8003\u6587\u732e<\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\"><a href=\"https:\/\/www.jpx.co.jp\/ose-toshijuku\/column\/futures_option\/option\/01.html\" target=\"_blank\" rel=\"noopener noreferrer\">\u65e5\u672c\u53d6\u5f15\u6240\u30b0\u30eb\u30fc\u30d7\uff5c\u5317\u6d5c\u6295\u8cc7\u587e\u300c\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3068\u306f\u300d<\/a><\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\"><a href=\"https:\/\/www.fsa.go.jp\/common\/law\/kinyushohin\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">\u91d1\u878d\u5e81\uff5c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u306b\u3064\u3044\u3066<\/a><\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\"><a href=\"https:\/\/www.nta.go.jp\/taxes\/shiraberu\/taxanswer\/shotoku\/1522.htm\" target=\"_blank\" rel=\"noopener noreferrer\">\u56fd\u7a0e\u5e81\uff5c\u5148\u7269\u53d6\u5f15\u306b\u4fc2\u308b\u96d1\u6240\u5f97\u7b49\u306e\u8ab2\u7a0e\u306e\u7279\u4f8b<\/a><\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\"><a href=\"https:\/\/www.deribit.com\/kb\/dvol\" target=\"_blank\" rel=\"noopener noreferrer\">Deribit\uff5cDVOL\uff08Deribit Volatility Index\uff09<\/a><\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><span style=\"color:#999\"><a href=\"https:\/\/www.cboe.com\/tradable_products\/vix\/\" target=\"_blank\" rel=\"noopener noreferrer\">CBOE\uff5cVIX Index<\/a><\/span><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">\u203b\u5f53\u30b5\u30a4\u30c8\u306e\u60c5\u5831\u306f\u6295\u8cc7\u5224\u65ad\u306e\u53c2\u8003\u3068\u306a\u308b\u4e00\u822c\u7684\u306a\u60c5\u5831\u63d0\u4f9b\u3092\u76ee\u7684\u3068\u3057\u3066\u304a\u308a\u3001\u7279\u5b9a\u306e\u6697\u53f7\u8cc7\u7523\uff08\u4eee\u60f3\u901a\u8ca8\uff09\u3078\u306e\u6295\u8cc7\u3092\u52e7\u8a98\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6697\u53f7\u8cc7\u7523\u53d6\u5f15\u306b\u306f\u30ea\u30b9\u30af\u304c\u4f34\u3044\u307e\u3059\u3002\u6700\u7d42\u7684\u306a\u6295\u8cc7\u5224\u65ad\u306f\u3054\u81ea\u8eab\u306e\u8cac\u4efb\u3067\u884c\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01 \u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u96c6\uff5c\u307e\u305a\u62bc\u3055\u3048\u308b\u3079\u304d\u57fa\u672c\u7528\u8a9e \u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3092\u59cb\u3081\u308b\u3046\u3048\u3067\u3001\u6700\u521d\u306b\u7406\u89e3\u3059\u3079\u304d\u57fa\u672c\u7528\u8a9e\u306f10\u8a9e\u7a0b\u5ea6\u3067\u3059\u3002\u3053\u3053\u3067\u306f\u300c\u6a29\u5229\u306e\u58f2\u8cb7\u300d\u3068\u3044\u3046\u4ed5\u7d44\u307f\u306e\u6839\u5e79\u306b\u95a2\u308f [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":204864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","footnotes":""},"categories":[121],"tags":[150],"class_list":["post-204809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-option-trading","tag-level-basics"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01 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content=\"\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u96c6\uff5c\u57fa\u672c\u304b\u3089\u30b0\u30ea\u30fc\u30af\u30b9\u30fbGEX\u307e\u306750\u8a9e\u8d85\u3092\u4f53\u7cfb\u7684\u306b\u89e3\u8aac\u30102026\u5e74\u7248\u3011 - ICHIZEN CAPITAL\" \/>\n\t\t<meta property=\"og:description\" content=\"ICHIZEN Capital\u306e\u30a4\u30c1\u62bc\u3057\u30dd\u30a4\u30f3\u30c8\uff01 \u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306e\u7528\u8a9e\u3092\u300c\u57fa\u672c\u2192\u4fa1\u683c\u2192\u30b0\u30ea\u30fc\u30af\u30b9\u2192\u30dc\u30e9\u30c6\u30a3\u30ea\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/ichizenholdings.co.jp\/media\/trading\/option-trading\/option-trading-glossary\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-07-14T04:12:53+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-07-21T09:02:37+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" 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