⚖️ 看涨看跌平价计算器（欧式、无红利示意）Put-Call Parity Calculator (European, No-Dividend Demo)
欧式、无红利示意：C − P = S − K e^(−rT)。已知看涨价可求隐含看跌，或反过来。本地处理，非交易报价。European, no-dividend demo: C − P = S − K e^(−rT). From a call price get the implied put, or the other way around. Processed locally - not a live quote.
使用说明与常见问题How-to & FAQ
「看涨看跌平价计算器（欧式、无红利示意）」是什么？What is the Put-Call Parity Calculator (European, No-Dividend Demo) tool?
欧式、无红利示意：C − P = S − K e^(−rT)。已知看涨价可求隐含看跌，或反过来。本地处理，非交易报价。European, no-dividend demo: C − P = S − K e^(−rT). From a call price get the implied put, or the other way around. Processed locally - not a live quote.
如何使用「看涨看跌平价计算器（欧式、无红利示意）」？How do I use the Put-Call Parity Calculator (European, No-Dividend Demo) tool?
在「看涨看跌平价计算器（欧式、无红利示意）」中，填写「标的价格」、「行权价」、「无风险利率 %」、「到期（年）」、「已知」等参数，结果会随输入实时计算并显示在下方。In the Put-Call Parity Calculator (European, No-Dividend Demo): Fill in "Spot", "Strike", "Risk-free %", "Years to expiry", "Known"; results are recalculated instantly as you type.
平价公式是什么？What is the parity formula?
无红利欧式：C − P = S − K e^(−rT)。左边是看涨减看跌，右边是标的减贴现行权价。For a European option with no dividends: C − P = S − K e^(−rT). The left side is call minus put; the right is spot minus the discounted strike.
美式期权呢？What about American options?
美式可能提前行权，平价变成不等式。本页按欧式、无红利示意。American options may exercise early, so parity becomes an inequality. This page uses the European, no-dividend demo.
能举个计算实例吗？Can you show a worked example?
例如在「看涨看跌平价计算器（欧式、无红利示意）」中填 标的价格 = 100，行权价 = 100，无风险利率 % = 5，到期年 = 1，已知 = 由看涨求看跌，期权价格 = 10，结果区显示：隐含看跌 P：5.12；C−P 应等于：4.88For example, entering Spot = 100, Strike = 100, Risk-free % = 5, Years to expiry = 1, Known = From call, Option price = 10 in the Put-Call Parity Calculator (European, No-Dividend Demo) gives: Implied put P: 5.12; C−P should equal: 4.88
哪些输入会被检查？Which inputs are validated?
「看涨看跌平价计算器（欧式、无红利示意）」会检查这些输入——「标的价格」：必须填写，须大于 0且不大于 1,000,000,000,000,000；「行权价」：必须填写，须大于 0且不大于 1,000,000,000,000,000；「无风险利率 %」：必须填写，须不小于 -99且不大于 1,000；「到期（年）」：必须填写，须不小于 0且不大于 100；「期权价格」：必须填写，须不小于 0且不大于 1,000,000,000,000,000；绝对值超过 10¹⁵ 的数也会被拒绝。不符合时结果区显示具体提示，不会给出数字。The Put-Call Parity Calculator (European, No-Dividend Demo) checks its inputs — "Spot": required, must be more than 0 and at most 1,000,000,000,000,000; "Strike": required, must be more than 0 and at most 1,000,000,000,000,000; "Risk-free %": required, must be at least -99 and at most 1,000; "Years to expiry": required, must be at least 0 and at most 100; "Option price": required, must be at least 0 and at most 1,000,000,000,000,000; numbers above 10¹⁵ in absolute value are rejected too. When a value fails, the result area names the problem instead of showing a number.
有哪些选项可以调整？What options can I adjust?
「看涨看跌平价计算器（欧式、无红利示意）」的设置：「标的价格」默认 100；「行权价」默认 100；「无风险利率 %」默认 5；「到期（年）」默认 1；「已知」可选 由看涨求看跌、由看跌求看涨（默认 由看涨求看跌）；「期权价格」默认 10。每次生成结果都按当前设置处理。Settings in the Put-Call Parity Calculator (European, No-Dividend Demo) — "Spot" default 100; "Strike" default 100; "Risk-free %" default 5; "Years to expiry" default 1; "Known": From call, From put (default From call); "Option price" default 10. The result always uses the current settings.
计算结果可以作为最终依据吗？Can I rely on the result?
「看涨看跌平价计算器（欧式、无红利示意）」按标准公式计算，结果仅供参考；实际金额以银行、券商或税务机关的规则和四舍五入方式为准。The Put-Call Parity Calculator (European, No-Dividend Demo) uses standard formulas and is for estimation only; actual figures depend on your bank, broker or tax authority's rules and rounding.
「看涨看跌平价计算器（欧式、无红利示意）」免费吗？需要注册吗？Is the Put-Call Parity Calculator (European, No-Dividend Demo) free? Do I need an account?
「看涨看跌平价计算器（欧式、无红利示意）」完全免费，无需注册或安装，打开网页即可使用，手机和电脑都能用；输入的内容只在你的浏览器本地处理。The Put-Call Parity Calculator (European, No-Dividend Demo) is completely free with no sign-up or install and works on phones and desktops; what you enter is processed only in your browser.