【tastylive】6月4日PDT新政，日内交易者：$2.5万门槛正式取消

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过去二十五年来

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如果你想在美国内交易股票和期权

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S

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你需要账户中存有二十五万美元在该时间段内

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如果你五天内完成四笔交易

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没有这二十五万美元

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将被冻结九十天

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没有任何预警

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无法申诉

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这是FINRA于2001年6月4日制定的规定

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Th

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一切都消失了

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我们将简要讨论PDT规则

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以及它最初为何被实施

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背后正在发生的变化

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涉及部分保证金调整

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以及我们收到的关于日内保证金问题

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我们将深入关键事实

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对于这一变化

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将于六月四日生效

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所以PDT规则到底是什么？让我简单介绍一下背景

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纳斯达克在90年代末的互联网泡沫期间飙升了六百%

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随后在2002年暴跌78%，标普500指数也下跌了49%

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零售账户因借入资金而大幅扩张

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因此2001年FINRA出台了PDT规则

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规定五个交易日内禁止进行四次以上的保证金交易

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然后你就会

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如果你超过这个限制

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就会被标记

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你需要随时保持25000美元的账户余额

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如果你低于这个水平

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你将被冻结九十天

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二十五万美元是在二零零一年设定的

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约十四万美元经通胀调整后

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现在从未更新过

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它从未真正衡量过风险

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风险

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它只是计算交易量

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这个 PDT 角色多年来一直是交易员的问题

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它终于在六月四日开始改变

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这里是你需要了解的关于这个的一切

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系统有一个有趣的新增点

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它被称为日内保证金

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日内保证金不适用于期权交易

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当你进行期权交易时

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你将使用标准监管团队保证金

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你不能使用超过可用保证金的金额

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一些经纪商允许在股票仓位上使用日内保证金

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因此，如果你在日内保证金账户中交易股票

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你需要在整个交易日内能够覆盖该现金金额

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这意味着你无法在一天结束时保留额外的保证金

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同时你还需要在当天结束时平仓这些头寸

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以避免出现保证金借方余额

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日内保证金制度对大多数监管团队保证金账户用户并不适用

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当然不适用于 tasty trade 的用户

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这些账户只是标准零售保证金账户

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新系统不适用于期权交易

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仅适用于股票持仓

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在旧系统中

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PDT系统规定五个交易日内进行四次日内交易

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你会被标记为25K账户

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你的账户将被限制

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必须将账户恢复至25K才能继续日内交易

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或等待90天

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这对小型账户来说非常残酷

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部分经纪商提供一次性重置

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但之后就无法继续

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这不仅是经纪商限制

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更是FINRA的限制

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无论怎样

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即使所有交易都盈利

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即使所有交易都是亏损

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或处于中间状态，仍受FINRA规则约束

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新规则下

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不再统计交易次数

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可以自由进行日内交易

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不再有25K门槛

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取消交易计数

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只要账户能承受即可

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股票或期权交易均无问题

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只要能当日平仓结算现金

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关键细节如下

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只需2000美元即可开设保证金账户

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25000美元规则已取消

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只要能覆盖交易金额即可

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PDT规则不再适用

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不再进行交易计数

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可进行任意次数日内交易

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PDT标记已完全取消

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若超过日内保证金限额

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或触发追加保证金通知

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经纪商可能阻止新增交易

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部分经纪商允许交易继续

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不过

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此时可能面临当日追加保证金

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零DT期权已成为新规则的一部分

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若期权到期时实值且对应可交割股票或ETF

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例如SPY

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CUE

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特斯拉

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苹果

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这将计入您的日内保证金

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或者您的保证金借方

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注意那些到期转为股份的交易，例如SPX或EXP

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这些期权以现金结算

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因此您不会遇到问题

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现在存放在银行套利计划中的资金计入您的购买力

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之前并不计入

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因此您闲置的现金将计入可用购买力

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常规保证金规则仍适用于期权

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因此零售账户中期权无需额外保证金

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新系统仅对股票仓位增加一层

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具体来说

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在使用日内保证金时

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如果您不在日内保证金账户中

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无需担心任何问题

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请记住

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这不是无限购买力

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PDT规则的取消

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并不意味着您可以无限交易资本

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或任意数量的股票

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您仍将受购买力要求限制

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对于非日内保证金账户用户

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完全不会遇到此问题

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PDT规则的取消对零售交易者是重大利好

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允许您自由买卖股票或期权仓位

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无需担心未来限制

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啊

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只要不使用日内保证金

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或保持日内保证金在限额内

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日内交易账户用户不应有问题

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完全不会有问题，您的股票购买力受限

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您的期权采用标准保证金

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因此PDT规则取消总体上对零售交易者是重大利好

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