| 國家 | 交易所名稱 | 當地交易時間(星期一至五) | 本地交易時間(星期一至五) |
| 澳洲* | Australian Stock Exchange | 10:00 - 16:00 | 08:00 - 14:00 |
| 加拿大* | Montreal Stock Exchange Toronto Stock Exchange |
09:30 - 16:00 | 22:30 - 05:00 |
| 中國 | 上海證券交易所 深圳證券交易所 |
09:30 - 11:30, 13:00 - 15:00 |
09:30 - 11:30, 13:00 - 15:00 |
| 法國* | Euronext | 09:00 - 17:30 | 16:00 - 00:30 |
| 德國* | Xetra | 09:00 - 17:30 | 16:00 - 00:30 |
| 香港 | 香港聯合交易所 香港期貨交易所 |
10:00 -12:30, 14:30 - 16:00 09:45 - 12:30, 14:30 - 16:30 |
|
| 印尼 | Jakarta Stock Exchange | 09:30 - 12:00, 13:30 - 16:00 (星期一至四) 09:30 - 11:30, 14:00 - 16:00 (星期五) |
10:30 - 13:00, 14:30 - 17:00 (星期一至四) 10:30 - 12:30, 15:00 - 17:00 (星期五) |
| 日本 | Tokyo Stock Exchange | 09:00 - 11:00, 12:30 - 15:00 |
08:00 - 10:00, 11:30 - 14:00 |
| 馬來西亞 | Kuala Lumpur Stock Exchange | 09:00 - 12:30, 14:30 - 17:00 |
09:00 - 12:30, 14:30 - 17:00 |
| 紐西蘭* | New Zealand Stock Exchange | 10:00 - 16:45 | 06:00 - 12:45 |
| 菲律賓 | Philippines Stock Exchange | 09:30 - 12:10 | 09:30 - 12:10 |
| 新加坡 | Singapore Exchange | 09.00 - 12.30, 14.00 - 17.00 |
09.00 - 12.30, 14.00 - 17.00 |
| 南韓 | Korea Stock Exchange | 09:00 - 15:00 | 08:00 - 14:00 |
| 台灣 | Taiwan Stock Exchange | 09:00 - 13:30 | 09:00 - 13:30 |
| 泰國 | The Stock Exchange of Thailand | 09:55 - 12:30, 14:25 - 16:30 |
10:55 - 13:30, 15:25 - 17:30 |
| 英國* | London Stock Exchange | 08:00 - 16:30 | 16:00 - 00:30 |
| 美國* | AMEX, Nasdaq, NYSE | 09:30 - 16:00 | 22:30 - 05:00 |
Thursday, September 16, 2010
各地股市交易時間一覽表
Top 200 world universities
Although 2010-11 is the seventh year that Times Higher Education has published its annual rankings, these tables represent a new level of sophistication. In light of this, the top 200 list and the six subject tables we are publishing should be considered the first of a new annual series, for we have completely overhauled the methodology to deliver our most rigorous, transparent and reliable rankings tables ever. The Times Higher Education World University Rankings 2010-11 were developed in concert with our new rankings data provider, Thomson Reuters, with input from more than 50 leading figures in the sector from 15 countries across every continent, and through 10 months of extensive consultation. We believe we have created the gold standard in international university performance comparisons.
We are confident that the 2010-2011 world university rankings represent the most accurate picture of global higher education we have ever produced.
Our rankings of the top universities across the globe employ 13 separate performance indicators designed to capture the full range of university activities, from teaching to research to knowledge transfer. These 13 elements are brought together into five headline categories, which are:
•Teaching — the learning environment (worth 30 per cent of the overall ranking score)
•Research — volume, income and reputation (worth 30 per cent)
•Citations — research influence (worth 32.5 per cent)
•Industry income — innovation (worth 2.5 per cent)
•International mix — staff and students (worth 5 per cent).
The overall top 200 ranking and the six tables showing the top 50 institutions by subject were based on criteria and weightings that were carefully selected after extensive consultation. All of them drew on our exceptionally rich data set. Of course, we recognise that different people have different interests and priorities. So to allow everyone to make the most of our data and gain a personalised view of global higher education, the tables on this site can be fully manipulated and sorted. With this feature, users may rank institutions by their performance in any one of the five broad headline categories to create bespoke tables or make regional comparisons via our area analyses.
For even richer and deeper analysis of more than 400 institutions, download our Times Higher Education World University Rankings iPhone application, which allows you to create your own methodology, filter results by country and region, and match your personalised rankings against cost-of-living and tuition-fees data.
Wednesday, September 15, 2010
Apple CEO had been treated with nothing but contempt ever at Kansai International Airport
Apple CEO Steve Jobs has said he will never return to Japan after officials at an airport barred him from taking Ninja throwing stars aboard his private plane, SPA! magazine reported in its latest issue.
A security scan at Kansai International Airport, near Osaka, detected the weapons inside the executive's carry-on luggage in July as he was returning home to the US from a family vacation in Kyoto, the Japanese magazine reported, citing unidentified officials at the airport and the transportation ministry.
Jobs said it would not make sense for a person to try to hijack his own plane, according to the report. He then told officials he would never visit Japan again, the magazine reported.
Advertisement: Story continues belowApple, based in Cupertino, California, disputed the magazine's account.
“Steve did visit Japan this summer for a vacation in Kyoto, but the incidents described at the airport are pure fiction,” said Steve Dowling, a spokesman for the company. “Steve had a great time and hopes to visit Japan again soon.”
Takeshi Uno, a spokesman at Kansai airport, said a passenger using a private jet was stopped at the end of July for carrying “shuriken”, the Japanese word for Ninja throwing stars and other handheld blades. The passenger, whom Uno declined to identify because of the airport's privacy policy, threw away the blades, he said. The airport doesn't have separate boarding arrangements for private-jet users, Uno said.
A security scan at Kansai International Airport, near Osaka, detected the weapons inside the executive's carry-on luggage in July as he was returning home to the US from a family vacation in Kyoto, the Japanese magazine reported, citing unidentified officials at the airport and the transportation ministry.
Jobs said it would not make sense for a person to try to hijack his own plane, according to the report. He then told officials he would never visit Japan again, the magazine reported.
Advertisement: Story continues belowApple, based in Cupertino, California, disputed the magazine's account.
“Steve did visit Japan this summer for a vacation in Kyoto, but the incidents described at the airport are pure fiction,” said Steve Dowling, a spokesman for the company. “Steve had a great time and hopes to visit Japan again soon.”
Takeshi Uno, a spokesman at Kansai airport, said a passenger using a private jet was stopped at the end of July for carrying “shuriken”, the Japanese word for Ninja throwing stars and other handheld blades. The passenger, whom Uno declined to identify because of the airport's privacy policy, threw away the blades, he said. The airport doesn't have separate boarding arrangements for private-jet users, Uno said.
Friday, September 10, 2010
ガス田交渉を延期＝漁船衝突で日本に対抗措置―中国
【北京時事】中国外務省の姜瑜・副報道局長は11日未明、東シナ海の尖閣諸島（中国名・釣魚島）付近で起きた海上保安庁巡視船と中国漁船の衝突事件をめぐる日本側の措置に反発し、今月中旬に予定していた東シナ海ガス田共同開発に関する日中両政府の条約締結交渉第2回会合の延期を決めたことを明らかにした。
衝突事件をめぐり、中国側は丹羽宇一郎駐中国大使を3度呼び出すなど、抗議をエスカレートさせていたが、日本側への対抗措置を打ち出したのは初めて。外交だけでなく、日中間のほかの分野への影響も懸念される。
姜副報道局長は、日本で公務執行妨害容疑で逮捕された漁船の中国人船長に10日間の拘置決定が出されたことについて、「中国側の度重なる抗議にもかかわらず、日本側は船長に対して『司法手続き』をあえて行使した」として、強い不満と抗議の意を表明した。
その上で「釣魚島と付属の島は中国固有の領土であり、国際法と基本的な国際常識に違反するような日本側の振る舞いは荒唐無稽（むけい）で、違法かつ無効だ」と強調。「日本側が勝手気ままに振る舞うならば、自ら報いを受けることになる」と警告した。
東シナ海ガス田をめぐっては、2008年6月に日中両国が共同開発に合意したが、日本側が早期の条約交渉入りを求めたのに対し、国内に反対論を抱える中国側が応ぜず難航。鳩山前政権下の今年5月の日中首脳会談でようやく交渉開始が決まり、7月に初めての会合が東京で開かれたばかりだった。
[China cancels Japan talks, warns on sea dispute]
BEIJING (Reuters) – China called off planned talks with Japan over an undersea gas bed dispute and warned that worse repercussions may follow, state media said on Saturday, intensifying pressure in a rift between the two big neighbors.
The Chinese Foreign Ministry issued its vehement warning after a Japanese court on Friday authorized a 10-day extension in detaining a Chinese captain whose fishing boat collided with two Japanese coast guard ships in disputed seas this week.
The arrest of the captain and continued detention of 14 crew members has given an emotive focus for long-running territorial quarrels between Beijing and Tokyo over East China Sea islets, called Senkaku in Japan and Diaoyu in China.
Asia's two biggest economies are also at loggerheads over gas beds under another part of the sea.
Chinese Foreign Ministry spokeswoman Jiang Yu responded angrily to the Japanese court's decision.
Beijing postponed a round of talks with Tokyo intended to eventually settle their dispute over East China Sea gas fields, she said in a statement on the Chinese Foreign Ministry web site (www.mfa.gov.cn) late on Friday.
The talks had been set for mid-September.
Jiang warned that worse may follow but gave no details.
"Japan has ignored China's many solemn representations and staunch opposition, and obstinately decided to impose so-called judicial procedures on the Chinese captain. China expresses its strong dissatisfaction and solemn protest," Jiang said.
"Japan's actions have violated international law and rudimentary common sense in international matters. They are absurd, illegal and invalid.
"If Japan continues in this reckless fashion, it will taste its own bitter fruit," Jiang said.
A source in the Japanese prime minister's office said it was "regrettable that a postponement (of the talks) was announced unilaterally," the Kyodo news agency said.
MUTUAL DISTRUST
Relations between Beijing and Tokyo have long been dogged by mutual distrust and Chinese bitterness over Japan's occupation of much of China before and during World War Two.
Chinese media have warned that public opinion could become riled by the arrest and Beijing's official stand appears partly intended to ward off accusations of weakness from angry citizens.
On Saturday morning, more police officers than usual guarded the Japanese embassy in Beijing, but there were no signs of protest preparations. China's ruling Communist Party is wary of any street protests and usually makes certain that any demonstrations aimed at Japan are small and tightly guarded.
Tokyo has also lodged protests with Beijing over the incident and Japan's government spokesman earlier urged calm. Japan has not said whether it plans to prosecute the captain or how long it intends to hold the crew members in detention.
Broader contention over the disputed seas could unsettle ties between Asia's two biggest economies. Since big public protests and bitter diplomatic exchanges sparked rows in 2005 and 2006, both sides have sought to improve ties.
Tokyo maintains that China's exploration for natural gas in the East China Sea threatens gas beds extending under what it deems Japan's maritime zone. China denies there is such a problem and disputes Japan's definition of the sea boundary.
In 2008, they agreed in principle to solve the dispute by jointly developing gas fields. Talks began in July on a treaty, but the postponement of the next round of talks will hold back prospects for progress in the dispute.
衝突事件をめぐり、中国側は丹羽宇一郎駐中国大使を3度呼び出すなど、抗議をエスカレートさせていたが、日本側への対抗措置を打ち出したのは初めて。外交だけでなく、日中間のほかの分野への影響も懸念される。
姜副報道局長は、日本で公務執行妨害容疑で逮捕された漁船の中国人船長に10日間の拘置決定が出されたことについて、「中国側の度重なる抗議にもかかわらず、日本側は船長に対して『司法手続き』をあえて行使した」として、強い不満と抗議の意を表明した。
その上で「釣魚島と付属の島は中国固有の領土であり、国際法と基本的な国際常識に違反するような日本側の振る舞いは荒唐無稽（むけい）で、違法かつ無効だ」と強調。「日本側が勝手気ままに振る舞うならば、自ら報いを受けることになる」と警告した。
東シナ海ガス田をめぐっては、2008年6月に日中両国が共同開発に合意したが、日本側が早期の条約交渉入りを求めたのに対し、国内に反対論を抱える中国側が応ぜず難航。鳩山前政権下の今年5月の日中首脳会談でようやく交渉開始が決まり、7月に初めての会合が東京で開かれたばかりだった。
[China cancels Japan talks, warns on sea dispute]
BEIJING (Reuters) – China called off planned talks with Japan over an undersea gas bed dispute and warned that worse repercussions may follow, state media said on Saturday, intensifying pressure in a rift between the two big neighbors.
The Chinese Foreign Ministry issued its vehement warning after a Japanese court on Friday authorized a 10-day extension in detaining a Chinese captain whose fishing boat collided with two Japanese coast guard ships in disputed seas this week.
The arrest of the captain and continued detention of 14 crew members has given an emotive focus for long-running territorial quarrels between Beijing and Tokyo over East China Sea islets, called Senkaku in Japan and Diaoyu in China.
Asia's two biggest economies are also at loggerheads over gas beds under another part of the sea.
Chinese Foreign Ministry spokeswoman Jiang Yu responded angrily to the Japanese court's decision.
Beijing postponed a round of talks with Tokyo intended to eventually settle their dispute over East China Sea gas fields, she said in a statement on the Chinese Foreign Ministry web site (www.mfa.gov.cn) late on Friday.
The talks had been set for mid-September.
Jiang warned that worse may follow but gave no details.
"Japan has ignored China's many solemn representations and staunch opposition, and obstinately decided to impose so-called judicial procedures on the Chinese captain. China expresses its strong dissatisfaction and solemn protest," Jiang said.
"Japan's actions have violated international law and rudimentary common sense in international matters. They are absurd, illegal and invalid.
"If Japan continues in this reckless fashion, it will taste its own bitter fruit," Jiang said.
A source in the Japanese prime minister's office said it was "regrettable that a postponement (of the talks) was announced unilaterally," the Kyodo news agency said.
MUTUAL DISTRUST
Relations between Beijing and Tokyo have long been dogged by mutual distrust and Chinese bitterness over Japan's occupation of much of China before and during World War Two.
Chinese media have warned that public opinion could become riled by the arrest and Beijing's official stand appears partly intended to ward off accusations of weakness from angry citizens.
On Saturday morning, more police officers than usual guarded the Japanese embassy in Beijing, but there were no signs of protest preparations. China's ruling Communist Party is wary of any street protests and usually makes certain that any demonstrations aimed at Japan are small and tightly guarded.
Tokyo has also lodged protests with Beijing over the incident and Japan's government spokesman earlier urged calm. Japan has not said whether it plans to prosecute the captain or how long it intends to hold the crew members in detention.
Broader contention over the disputed seas could unsettle ties between Asia's two biggest economies. Since big public protests and bitter diplomatic exchanges sparked rows in 2005 and 2006, both sides have sought to improve ties.
Tokyo maintains that China's exploration for natural gas in the East China Sea threatens gas beds extending under what it deems Japan's maritime zone. China denies there is such a problem and disputes Japan's definition of the sea boundary.
In 2008, they agreed in principle to solve the dispute by jointly developing gas fields. Talks began in July on a treaty, but the postponement of the next round of talks will hold back prospects for progress in the dispute.
Business Object 水晶报表 CRYSTAL REPORT SDK
BO报表的水晶报表是标准的C/S模式，因此首先要登陆服务端：
ISessionMgr sessionMgr = CrystalEnterprise.getSessionMgr();
IEnterpriseSession enterpriseSession = sessionMgr.logon(userName, password, aps, auth);
IInfoStore iStore = (IInfoStore) enterpriseSession.getService("InfoStore"); //IInfoStore应该是BO报表的一个snapshotview
session.setAttribute("InfoStore", iStore);
session.setAttribute("enterpriseSession", enterpriseSession);
登陆BO服务器后，就可以用IInfoStore来查询服务器端的数据了，通常查询的都是报表ID
IInfoStore iStore = (IInfoStore) session.getAttribute("infoStore");
IInfoObjects result = iStore.query("Select SI_ID, SI_NAME From CI_INFOOBJECTS Where SI_NAME = '"
+ "World Sales Report" + "'" + " And SI_INSTANCE = 0"); //CI_INFOOBJECTS这个应该是BO存放报表ID的表
IInfoObject infoObject=(IInfoObject)result.get(0);
int reportID = infoObject.getID();
报表ID获得了，用SDK来获取该报表ID对应的报表对象
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession"); //现在知道之前为什么要把IEnterpriseSession缓存了
IReportSourceFactory reportFactory = (IReportSourceFactory) enterpriseSession.getService ("", "PSReportFactory");
Object reportSource = reportFactory.openReportSource(reportID, request.getLocale()); //openReportSource这个方法返回BO报表的实例
session.setAttribute("reportSource", reportSource);
另外还有一种方式获取报表对象是通过RAS的SDK（RAS的SDK提供了更加细粒度的报表操作，如增加，删除或者修改报表中的table等等）
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession");
IReportAppFactory reportAppFactory = (IReportAppFactory) enterpriseSession.getService("", "RASReportFactory");
ReportClientDocument reportClientDoc = reportAppFactory.openDocument(reportID, 0, request.getLocale());
Object reportSource = reportClientDoc.getReportSource();
session.setAttribute("reportSource", reportSource);
从BO报表实体（*.rpt)获取报表类实例的方法在servlet或者jsp页面中经常使用
<%@ page import="com.crystaldecisions.reports.reportengineinterface.JPEReportSourceFactory" %>
<%@ page import="com.crystaldecisions.sdk.occa.report.reportsource.IReportSourceFactory2" %>
IReportSourceFactory2 rptSrcFactory = new JPEReportSourceFactory();
String report = "/reports/sample.rpt";
Object reportSource = rptSrcFactory.createReportSource(report, request.getLocale());
session.setAttribute("reportSource", reportSource);
在页面通过CrystalReportViewer来展示报表界面的方法，类似ActiveX插件的方式
CrystalReportViewer viewer = new CrystalReportViewer();
viewer.setReportSource(reportSource); //该reportSource就是上述获取的报表对象实例
viewer.setOwnPage(true);
viewer.processHttpRequest(request, response, getServletContext(), null);
另外还有几种View来展示报表界面，方法跟CrystalReportViewer大致一样，只不过类名叫CrystalReportXXXXViewer
导出报表的方法
ReportExportControl exportControl = new ReportExportControl();
ExportOptions exportOptions = new ExportOptions();
exportOptions.setExportFormatType(ReportExportFormat.PDF);
exportControl.setReportSource(reportSource);
exportControl.setExportOptions(exportOptions);
exportControl.setExportAsAttachment(true);
exportControl.processHttpRequest(request, response, getServletContext(), null);
SDK中的参数类（BO不能直接写传递sql，它的服务端把数据库底层访问都封装好了，所以你必须按它的规范传参数对象给它）
Fields parameterFields = new Fields(); //Fields为最外层的参数容器
ParameterField pfieldNum = new ParameterField(); //ParameterField为第二层参数容器
Values numVals = new Values();//value是最低层的参数容器
ParameterFieldDiscreteValue pfieldDVNum = new ParameterFieldDiscreteValue(); //ParameterFieldDiscreteValue和ParameterFieldRangeValue才是真正的参数对象
参数的设置
Integer numParamVal = new Integer(24000);
pfieldNum.setName("SalesQuota"); //报表中的参数名
pfieldDVNum.setValue(numParamVal); //参数的值
参数的包装
numVals.add(pfieldDVNum);
pfieldNum.setCurrentValues(numVals);
parameterFields.add(pfieldNum);
给报表传参
viewer.setParameterFields( parameterFields );
基本的SDK都在上面了，BO的水晶报表比较简单，上手很快，但是就是很多限制，你必须按BO定义好的规则来一步步的做，它的SDK的接口也比较少，而主要的技巧在于画报表（从商业报表的角度来讲，这样做的确是对的
，它目的就是要把我们从代码中解放出来而专注于业务逻辑，但是对于追求灵活定制的程序员来说，用它的SDK能做的事情就太少了）。
项目实践（4）--BO水晶报表SDK
BO报表的水晶报表是标准的C/S模式，因此首先要登陆服务端：
ISessionMgr sessionMgr = CrystalEnterprise.getSessionMgr();
IEnterpriseSession enterpriseSession = sessionMgr.logon(userName, password, aps, auth);
IInfoStore iStore = (IInfoStore) enterpriseSession.getService("InfoStore"); //IInfoStore应该是BO报表的一个snapshotview
session.setAttribute("InfoStore", iStore);
session.setAttribute("enterpriseSession", enterpriseSession);
登陆BO服务器后，就可以用IInfoStore来查询服务器端的数据了，通常查询的都是报表ID
IInfoStore iStore = (IInfoStore) session.getAttribute("infoStore");
IInfoObjects result = iStore.query("Select SI_ID, SI_NAME From CI_INFOOBJECTS Where SI_NAME = '"
+ "World Sales Report" + "'" + " And SI_INSTANCE = 0"); //CI_INFOOBJECTS这个应该是BO存放报表ID的表
IInfoObject infoObject=(IInfoObject)result.get(0);
int reportID = infoObject.getID();
报表ID获得了，用SDK来获取该报表ID对应的报表对象
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession"); //现在知道之前为什么要把IEnterpriseSession缓存了
IReportSourceFactory reportFactory = (IReportSourceFactory) enterpriseSession.getService ("", "PSReportFactory");
Object reportSource = reportFactory.openReportSource(reportID, request.getLocale()); //openReportSource这个方法返回BO报表的实例
session.setAttribute("reportSource", reportSource);
另外还有一种方式获取报表对象是通过RAS的SDK（RAS的SDK提供了更加细粒度的报表操作，如增加，删除或者修改报表中的table等等）
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession");
IReportAppFactory reportAppFactory = (IReportAppFactory) enterpriseSession.getService("", "RASReportFactory");
ReportClientDocument reportClientDoc = reportAppFactory.openDocument(reportID, 0, request.getLocale());
Object reportSource = reportClientDoc.getReportSource();
session.setAttribute("reportSource", reportSource);
从BO报表实体（*.rpt)获取报表类实例的方法在servlet或者jsp页面中经常使用
<%@ page import="com.crystaldecisions.reports.reportengineinterface.JPEReportSourceFactory" %>
<%@ page import="com.crystaldecisions.sdk.occa.report.reportsource.IReportSourceFactory2" %>
IReportSourceFactory2 rptSrcFactory = new JPEReportSourceFactory();
String report = "/reports/sample.rpt";
Object reportSource = rptSrcFactory.createReportSource(report, request.getLocale());
session.setAttribute("reportSource", reportSource);
在页面通过CrystalReportViewer来展示报表界面的方法，类似ActiveX插件的方式
CrystalReportViewer viewer = new CrystalReportViewer();
viewer.setReportSource(reportSource); //该reportSource就是上述获取的报表对象实例
viewer.setOwnPage(true);
viewer.processHttpRequest(request, response, getServletContext(), null);
另外还有几种View来展示报表界面，方法跟CrystalReportViewer大致一样，只不过类名叫CrystalReportXXXXViewer
导出报表的方法
ReportExportControl exportControl = new ReportExportControl();
ExportOptions exportOptions = new ExportOptions();
exportOptions.setExportFormatType(ReportExportFormat.PDF);
exportControl.setReportSource(reportSource);
exportControl.setExportOptions(exportOptions);
exportControl.setExportAsAttachment(true);
exportControl.processHttpRequest(request, response, getServletContext(), null);
SDK中的参数类（BO不能直接写传递sql，它的服务端把数据库底层访问都封装好了，所以你必须按它的规范传参数对象给它）
Fields parameterFields = new Fields(); //Fields为最外层的参数容器
ParameterField pfieldNum = new ParameterField(); //ParameterField为第二层参数容器
Values numVals = new Values();//value是最低层的参数容器
ParameterFieldDiscreteValue pfieldDVNum = new ParameterFieldDiscreteValue(); //ParameterFieldDiscreteValue和ParameterFieldRangeValue才是真正的参数对象
参数的设置
Integer numParamVal = new Integer(24000);
pfieldNum.setName("SalesQuota"); //报表中的参数名
pfieldDVNum.setValue(numParamVal); //参数的值
参数的包装
numVals.add(pfieldDVNum);
pfieldNum.setCurrentValues(numVals);
parameterFields.add(pfieldNum);
给报表传参
viewer.setParameterFields( parameterFields );
基本的SDK都在上面了，BO的水晶报表比较简单，上手很快，但是就是很多限制，你必须按BO定义好的规则来一步步的做，它的SDK的接口也比较少，而主要的技巧在于画报表（从商业报表的角度来讲，这样做的确是对的
，它目的就是要把我们从代码中解放出来而专注于业务逻辑，但是对于追求灵活定制的程序员来说，用它的SDK能做的事情就太少了）。
ISessionMgr sessionMgr = CrystalEnterprise.getSessionMgr();
IEnterpriseSession enterpriseSession = sessionMgr.logon(userName, password, aps, auth);
IInfoStore iStore = (IInfoStore) enterpriseSession.getService("InfoStore"); //IInfoStore应该是BO报表的一个snapshotview
session.setAttribute("InfoStore", iStore);
session.setAttribute("enterpriseSession", enterpriseSession);
登陆BO服务器后，就可以用IInfoStore来查询服务器端的数据了，通常查询的都是报表ID
IInfoStore iStore = (IInfoStore) session.getAttribute("infoStore");
IInfoObjects result = iStore.query("Select SI_ID, SI_NAME From CI_INFOOBJECTS Where SI_NAME = '"
+ "World Sales Report" + "'" + " And SI_INSTANCE = 0"); //CI_INFOOBJECTS这个应该是BO存放报表ID的表
IInfoObject infoObject=(IInfoObject)result.get(0);
int reportID = infoObject.getID();
报表ID获得了，用SDK来获取该报表ID对应的报表对象
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession"); //现在知道之前为什么要把IEnterpriseSession缓存了
IReportSourceFactory reportFactory = (IReportSourceFactory) enterpriseSession.getService ("", "PSReportFactory");
Object reportSource = reportFactory.openReportSource(reportID, request.getLocale()); //openReportSource这个方法返回BO报表的实例
session.setAttribute("reportSource", reportSource);
另外还有一种方式获取报表对象是通过RAS的SDK（RAS的SDK提供了更加细粒度的报表操作，如增加，删除或者修改报表中的table等等）
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession");
IReportAppFactory reportAppFactory = (IReportAppFactory) enterpriseSession.getService("", "RASReportFactory");
ReportClientDocument reportClientDoc = reportAppFactory.openDocument(reportID, 0, request.getLocale());
Object reportSource = reportClientDoc.getReportSource();
session.setAttribute("reportSource", reportSource);
从BO报表实体（*.rpt)获取报表类实例的方法在servlet或者jsp页面中经常使用
<%@ page import="com.crystaldecisions.reports.reportengineinterface.JPEReportSourceFactory" %>
<%@ page import="com.crystaldecisions.sdk.occa.report.reportsource.IReportSourceFactory2" %>
IReportSourceFactory2 rptSrcFactory = new JPEReportSourceFactory();
String report = "/reports/sample.rpt";
Object reportSource = rptSrcFactory.createReportSource(report, request.getLocale());
session.setAttribute("reportSource", reportSource);
在页面通过CrystalReportViewer来展示报表界面的方法，类似ActiveX插件的方式
CrystalReportViewer viewer = new CrystalReportViewer();
viewer.setReportSource(reportSource); //该reportSource就是上述获取的报表对象实例
viewer.setOwnPage(true);
viewer.processHttpRequest(request, response, getServletContext(), null);
另外还有几种View来展示报表界面，方法跟CrystalReportViewer大致一样，只不过类名叫CrystalReportXXXXViewer
导出报表的方法
ReportExportControl exportControl = new ReportExportControl();
ExportOptions exportOptions = new ExportOptions();
exportOptions.setExportFormatType(ReportExportFormat.PDF);
exportControl.setReportSource(reportSource);
exportControl.setExportOptions(exportOptions);
exportControl.setExportAsAttachment(true);
exportControl.processHttpRequest(request, response, getServletContext(), null);
SDK中的参数类（BO不能直接写传递sql，它的服务端把数据库底层访问都封装好了，所以你必须按它的规范传参数对象给它）
Fields parameterFields = new Fields(); //Fields为最外层的参数容器
ParameterField pfieldNum = new ParameterField(); //ParameterField为第二层参数容器
Values numVals = new Values();//value是最低层的参数容器
ParameterFieldDiscreteValue pfieldDVNum = new ParameterFieldDiscreteValue(); //ParameterFieldDiscreteValue和ParameterFieldRangeValue才是真正的参数对象
参数的设置
Integer numParamVal = new Integer(24000);
pfieldNum.setName("SalesQuota"); //报表中的参数名
pfieldDVNum.setValue(numParamVal); //参数的值
参数的包装
numVals.add(pfieldDVNum);
pfieldNum.setCurrentValues(numVals);
parameterFields.add(pfieldNum);
给报表传参
viewer.setParameterFields( parameterFields );
基本的SDK都在上面了，BO的水晶报表比较简单，上手很快，但是就是很多限制，你必须按BO定义好的规则来一步步的做，它的SDK的接口也比较少，而主要的技巧在于画报表（从商业报表的角度来讲，这样做的确是对的
，它目的就是要把我们从代码中解放出来而专注于业务逻辑，但是对于追求灵活定制的程序员来说，用它的SDK能做的事情就太少了）。
项目实践（4）--BO水晶报表SDK
BO报表的水晶报表是标准的C/S模式，因此首先要登陆服务端：
ISessionMgr sessionMgr = CrystalEnterprise.getSessionMgr();
IEnterpriseSession enterpriseSession = sessionMgr.logon(userName, password, aps, auth);
IInfoStore iStore = (IInfoStore) enterpriseSession.getService("InfoStore"); //IInfoStore应该是BO报表的一个snapshotview
session.setAttribute("InfoStore", iStore);
session.setAttribute("enterpriseSession", enterpriseSession);
登陆BO服务器后，就可以用IInfoStore来查询服务器端的数据了，通常查询的都是报表ID
IInfoStore iStore = (IInfoStore) session.getAttribute("infoStore");
IInfoObjects result = iStore.query("Select SI_ID, SI_NAME From CI_INFOOBJECTS Where SI_NAME = '"
+ "World Sales Report" + "'" + " And SI_INSTANCE = 0"); //CI_INFOOBJECTS这个应该是BO存放报表ID的表
IInfoObject infoObject=(IInfoObject)result.get(0);
int reportID = infoObject.getID();
报表ID获得了，用SDK来获取该报表ID对应的报表对象
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession"); //现在知道之前为什么要把IEnterpriseSession缓存了
IReportSourceFactory reportFactory = (IReportSourceFactory) enterpriseSession.getService ("", "PSReportFactory");
Object reportSource = reportFactory.openReportSource(reportID, request.getLocale()); //openReportSource这个方法返回BO报表的实例
session.setAttribute("reportSource", reportSource);
另外还有一种方式获取报表对象是通过RAS的SDK（RAS的SDK提供了更加细粒度的报表操作，如增加，删除或者修改报表中的table等等）
IEnterpriseSession enterpriseSession = (IEnterpriseSession) session.getAttribute("enterpriseSession");
IReportAppFactory reportAppFactory = (IReportAppFactory) enterpriseSession.getService("", "RASReportFactory");
ReportClientDocument reportClientDoc = reportAppFactory.openDocument(reportID, 0, request.getLocale());
Object reportSource = reportClientDoc.getReportSource();
session.setAttribute("reportSource", reportSource);
从BO报表实体（*.rpt)获取报表类实例的方法在servlet或者jsp页面中经常使用
<%@ page import="com.crystaldecisions.reports.reportengineinterface.JPEReportSourceFactory" %>
<%@ page import="com.crystaldecisions.sdk.occa.report.reportsource.IReportSourceFactory2" %>
IReportSourceFactory2 rptSrcFactory = new JPEReportSourceFactory();
String report = "/reports/sample.rpt";
Object reportSource = rptSrcFactory.createReportSource(report, request.getLocale());
session.setAttribute("reportSource", reportSource);
在页面通过CrystalReportViewer来展示报表界面的方法，类似ActiveX插件的方式
CrystalReportViewer viewer = new CrystalReportViewer();
viewer.setReportSource(reportSource); //该reportSource就是上述获取的报表对象实例
viewer.setOwnPage(true);
viewer.processHttpRequest(request, response, getServletContext(), null);
另外还有几种View来展示报表界面，方法跟CrystalReportViewer大致一样，只不过类名叫CrystalReportXXXXViewer
导出报表的方法
ReportExportControl exportControl = new ReportExportControl();
ExportOptions exportOptions = new ExportOptions();
exportOptions.setExportFormatType(ReportExportFormat.PDF);
exportControl.setReportSource(reportSource);
exportControl.setExportOptions(exportOptions);
exportControl.setExportAsAttachment(true);
exportControl.processHttpRequest(request, response, getServletContext(), null);
SDK中的参数类（BO不能直接写传递sql，它的服务端把数据库底层访问都封装好了，所以你必须按它的规范传参数对象给它）
Fields parameterFields = new Fields(); //Fields为最外层的参数容器
ParameterField pfieldNum = new ParameterField(); //ParameterField为第二层参数容器
Values numVals = new Values();//value是最低层的参数容器
ParameterFieldDiscreteValue pfieldDVNum = new ParameterFieldDiscreteValue(); //ParameterFieldDiscreteValue和ParameterFieldRangeValue才是真正的参数对象
参数的设置
Integer numParamVal = new Integer(24000);
pfieldNum.setName("SalesQuota"); //报表中的参数名
pfieldDVNum.setValue(numParamVal); //参数的值
参数的包装
numVals.add(pfieldDVNum);
pfieldNum.setCurrentValues(numVals);
parameterFields.add(pfieldNum);
给报表传参
viewer.setParameterFields( parameterFields );
基本的SDK都在上面了，BO的水晶报表比较简单，上手很快，但是就是很多限制，你必须按BO定义好的规则来一步步的做，它的SDK的接口也比较少，而主要的技巧在于画报表（从商业报表的角度来讲，这样做的确是对的
，它目的就是要把我们从代码中解放出来而专注于业务逻辑，但是对于追求灵活定制的程序员来说，用它的SDK能做的事情就太少了）。
Tuesday, September 7, 2010
FaxZero - 免費發送傳真到美國、加拿大地區，發送端不用自備傳真機，支援DOC與PDF檔
相信很多人很需要這個功能，透過faxZERO的線上免費傳真服務，你無須自備傳真機，也不用在faxZERO上註冊會員，直接填入發送者與接收者的姓名與發送者E－Mail、接收者的傳真號碼即可。目前faxZERO支援傳真DOC與PDF檔，一天只能免費傳真兩次（每次最多3頁）。
FaxZero is a free Web faxing service that allows you to send a free fax anywhere in the United States or Canada。
How does FaxZero work？：
FaxZero is very simple to use。 Type in the sender’s (that would be you) name， company， fax number， and email。 If you don’t have a fax number， you can enter in your phone number and it works just fine (I tried it myself)。 Next， you’ll need to enter in the receiver’s information： name， company， and fax number。 You WILL need the person’s fax number that you’re sending this to； a phone number just won’t do for the receiving number。
How do I actually send a document with FaxZero？：
Right under where you input the Sender and Receiver information， you’ll see a space where you can select the file from your computer to upload to FaxZero to send (click the ”Browse” button and find where the file is located on your computer)。 You’ll have to enter in a confirmation code after you’ve uploaded the file； this is just to make sure you’re not a robot。 Last， but not least， you choose whether you need the FaxZero Free or Premium service。
FaxZero Free Service：
Unless you fax a LOT of documents， the FaxZero Free Service is what you’ll want to go with。 Here’s what you get with the Free Service：
Free！
Ad on the cover page
Fax 1 document—maximum 3 pages
Maximum 2 free faxes per day
If this fits your needs， hit the ”Send Free Fax Now” button and you’re all set。
FaxZero Premium Service：
If you like the convenience of FaxZero， but need more than the Free Service， you can check out the Premium FaxZero：
Just ＄1。99 per fax (Paypal)
No ad on the cover page
Fax 1 document—maximum 15 pages
Priority delivery
If you decide this is for you， click the button that says ”Send 1。99 Fax Now” and you’re off and running。
Why should I use FaxZero？：
FaxZero fills the need for people like me who don’t fax documents more than once or twice every few months。 It’s a convenient (and free！) way to get paperwork where it needs to go。
FaxZero is a free Web faxing service that allows you to send a free fax anywhere in the United States or Canada。
How does FaxZero work？：
FaxZero is very simple to use。 Type in the sender’s (that would be you) name， company， fax number， and email。 If you don’t have a fax number， you can enter in your phone number and it works just fine (I tried it myself)。 Next， you’ll need to enter in the receiver’s information： name， company， and fax number。 You WILL need the person’s fax number that you’re sending this to； a phone number just won’t do for the receiving number。
How do I actually send a document with FaxZero？：
Right under where you input the Sender and Receiver information， you’ll see a space where you can select the file from your computer to upload to FaxZero to send (click the ”Browse” button and find where the file is located on your computer)。 You’ll have to enter in a confirmation code after you’ve uploaded the file； this is just to make sure you’re not a robot。 Last， but not least， you choose whether you need the FaxZero Free or Premium service。
FaxZero Free Service：
Unless you fax a LOT of documents， the FaxZero Free Service is what you’ll want to go with。 Here’s what you get with the Free Service：
Free！
Ad on the cover page
Fax 1 document—maximum 3 pages
Maximum 2 free faxes per day
If this fits your needs， hit the ”Send Free Fax Now” button and you’re all set。
FaxZero Premium Service：
If you like the convenience of FaxZero， but need more than the Free Service， you can check out the Premium FaxZero：
Just ＄1。99 per fax (Paypal)
No ad on the cover page
Fax 1 document—maximum 15 pages
Priority delivery
If you decide this is for you， click the button that says ”Send 1。99 Fax Now” and you’re off and running。
Why should I use FaxZero？：
FaxZero fills the need for people like me who don’t fax documents more than once or twice every few months。 It’s a convenient (and free！) way to get paperwork where it needs to go。
Sunday, September 5, 2010
選擇權基本架構
選擇權定義
選擇權是一種權利契約，買方支付權利金後，便有權利在未來約定的某特定日期（到期日），依約定之履約價格（Strike Price），買入或賣出一定數量的約定標的物。
選擇權的分類
依權利型態區分，可分為買權(Call Option)及賣權(Put Option)。
買權(Call)
是指該權利的買方有權在約定期間內，以履約價格買入約定標的物，但無義務一定要執行該項
權利；而買權的賣方則有義務在買方選擇執行買入權利時，依約履行賣出標的物。
賣權(Put)
是指該權利的買方有權在約定期間內，以履約價格賣出約定標的物，但無義務一定要執行該項
權利；而賣權(Put Option)的賣方則有義務在買方選擇執行賣出權利時，依約履行買進標的物。
依履約期限區分，可分為美式選擇權及歐式選擇權。
美式選擇權(American Option)
美式選擇權的買方有權在合約到期日前的任何一天要求行使買入或賣出的權利。
歐式選擇權(European Option)
歐式選擇權的買方必須於合約到期日當日方可行使買入或賣出的權利。
內含價值(Intrinsic Value)
對買權而言，內含價值是指「現貨價格高於履約價的部份」，若用數學式表示即MAX（現貨價-履約價，0），上式是指取「現貨價-履約價」與「0」之間較大值的意思；對賣權)而言，剛好相反，即「履約價高於現貨價的部份」，用數學式表示即"MAX（履約價-現貨價，0）"。
時間價值(Time Value)
指選擇權市價減去內含價值的部份。
選擇權價內(in the money)、價平(at the money)與價外(out the money)的分別
價內選擇權指買方在此時要求履約即可獲利。因此價內買權，必是當現貨價格高於履約價格，買方可要求履約以低價買進，隨即以較高的市價賣出；而價內賣權，則必是目前市價低於履約價格，買方可以高價賣出，而以較低的市價買回。若市價等於履約價，稱作價平選擇權。
若買方在此時履約得不到任何好處反而有損失，則稱作價外選擇權，即當現貨價格小於履約價格的買權和現貨價格大於履約價的賣權。
選擇權的特性
一.槓桿操作
選擇權的買方只須先支付小額權利金，卻有獲利無限的可能，所以有以小搏大享有較大投資報酬的特性。
二.避險
當投資者不確定市場的未來發展走勢時，為了控制風險，確保獲利，可以購買選擇權的方式規避持有現貨的風險。換言之，若市場走勢不利現貨，則選擇權的獲利可以彌補現貨的損失，若市場走勢利於現貨，則選擇權部分也只損失小額權利金。以股票市場為例，當股市多空不明時，若投資人手中持有現股部位，為避免股市下跌而遭到資產損失，則可以買入賣權的方式來避險，未來若股市上漲，則現股部位將由股市中獲利，選擇權最多的損失為權利金；而若股市下跌，則將執行此賣權來彌補股市的損失。
三.遞延投資決策
由於選擇權的買方有權於未來的一段期間之中決定是否執行買入或賣出標的物的權利，因此可給予投資者足夠的時間來觀察及判斷，避免於市場趨勢不明朗時做出錯誤的決策。其次，美式選擇權的買方能於選擇權到期前任一天執行權利，因此持資者在資金不足時可先暫時不執行權利，對於投資人資金的調度較有利。
選擇權的履約時機
歐式選擇權的買方有權於到期日時，依市場情況來決定是否執行選擇權利，而決定是否執行的關鍵在於選擇權的內含價值。當內含價值大於／等於零時），投資人執行權利是有利的；而當內含價值小於零時，投資人執行權利將有損失，所以不具執行的價值。以下將就「買進買權」及「買進賣權」兩種形態的履約時機分別說明。
買進買權(Long Call)
買入買權者通常是對市場未來趨勢看漲而希望能在未來以低於市價的價格（即選擇權履約價）買入標的物。買權的內含價值計算公式為：標的物市價－（選擇權履約價）－選擇權權利金。所以當標的物市價上揚，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
買進賣權(Long Put)
買入賣權(Long Put Option)者通常是對市場未來趨勢看跌而希望能在未來以高於市價的價格（即選擇權履約價）賣出標的物。賣權的內含價值計算公式為：即選擇權履約價－（標的物市價）－選擇權權利金。所以當標的物市價下跌時，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
選擇權定義
選擇權是一種權利契約，買方支付權利金後，便有權利在未來約定的某特定日期（到期日），依約定之履約價格（Strike Price），買入或賣出一定數量的約定標的物。
選擇權的分類
依權利型態區分，可分為買權(Call Option)及賣權(Put Option)。
買權(Call)
是指該權利的買方有權在約定期間內，以履約價格買入約定標的物，但無義務一定要執行該項
權利；而買權的賣方則有義務在買方選擇執行買入權利時，依約履行賣出標的物。
賣權(Put)
是指該權利的買方有權在約定期間內，以履約價格賣出約定標的物，但無義務一定要執行該項
權利；而賣權(Put Option)的賣方則有義務在買方選擇執行賣出權利時，依約履行買進標的物。
依履約期限區分，可分為美式選擇權及歐式選擇權。
美式選擇權(American Option)
美式選擇權的買方有權在合約到期日前的任何一天要求行使買入或賣出的權利。
歐式選擇權(European Option)
歐式選擇權的買方必須於合約到期日當日方可行使買入或賣出的權利。
內含價值(Intrinsic Value)
對買權而言，內含價值是指「現貨價格高於履約價的部份」，若用數學式表示即MAX（現貨價-履約價，0），上式是指取「現貨價-履約價」與「0」之間較大值的意思；對賣權)而言，剛好相反，即「履約價高於現貨價的部份」，用數學式表示即"MAX（履約價-現貨價，0）"。
時間價值(Time Value)
指選擇權市價減去內含價值的部份。
選擇權價內(in the money)、價平(at the money)與價外(out the money)的分別
價內選擇權指買方在此時要求履約即可獲利。因此價內買權，必是當現貨價格高於履約價格，買方可要求履約以低價買進，隨即以較高的市價賣出；而價內賣權，則必是目前市價低於履約價格，買方可以高價賣出，而以較低的市價買回。若市價等於履約價，稱作價平選擇權。
若買方在此時履約得不到任何好處反而有損失，則稱作價外選擇權，即當現貨價格小於履約價格的買權和現貨價格大於履約價的賣權。
選擇權的特性
一.槓桿操作
選擇權的買方只須先支付小額權利金，卻有獲利無限的可能，所以有以小搏大享有較大投資報酬的特性。
二.避險
當投資者不確定市場的未來發展走勢時，為了控制風險，確保獲利，可以購買選擇權的方式規避持有現貨的風險。換言之，若市場走勢不利現貨，則選擇權的獲利可以彌補現貨的損失，若市場走勢利於現貨，則選擇權部分也只損失小額權利金。以股票市場為例，當股市多空不明時，若投資人手中持有現股部位，為避免股市下跌而遭到資產損失，則可以買入賣權的方式來避險，未來若股市上漲，則現股部位將由股市中獲利，選擇權最多的損失為權利金；而若股市下跌，則將執行此賣權來彌補股市的損失。
三.遞延投資決策
由於選擇權的買方有權於未來的一段期間之中決定是否執行買入或賣出標的物的權利，因此可給予投資者足夠的時間來觀察及判斷，避免於市場趨勢不明朗時做出錯誤的決策。其次，美式選擇權的買方能於選擇權到期前任一天執行權利，因此持資者在資金不足時可先暫時不執行權利，對於投資人資金的調度較有利。
選擇權的履約時機
歐式選擇權的買方有權於到期日時，依市場情況來決定是否執行選擇權利，而決定是否執行的關鍵在於選擇權的內含價值。當內含價值大於／等於零時），投資人執行權利是有利的；而當內含價值小於零時，投資人執行權利將有損失，所以不具執行的價值。以下將就「買進買權」及「買進賣權」兩種形態的履約時機分別說明。
買進買權(Long Call)
買入買權者通常是對市場未來趨勢看漲而希望能在未來以低於市價的價格（即選擇權履約價）買入標的物。買權的內含價值計算公式為：標的物市價－（選擇權履約價）－選擇權權利金。所以當標的物市價上揚，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
買進賣權(Long Put)
買入賣權(Long Put Option)者通常是對市場未來趨勢看跌而希望能在未來以高於市價的價格（即選擇權履約價）賣出標的物。賣權的內含價值計算公式為：即選擇權履約價－（標的物市價）－選擇權權利金。所以當標的物市價下跌時，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
當日沖銷
在當日建立新的選擇權部位，於當日收盤前沖銷持有部位結算差價之交易方式。
平倉
將原有部位沖銷。
最後交易日
以現行制度而言，國內選擇權的最後交易日為各該契約交割月份第三個星期三。
到期日
最後結算日同最後交易日
到期結算價
以最後結算日臺灣證券交易所當日交易時間收盤前三十分鐘內所提供標的指數之簡單算術平均價訂之。其計算方式，由交易所另訂之。
選擇權是一種權利契約，買方支付權利金後，便有權利在未來約定的某特定日期（到期日），依約定之履約價格（Strike Price），買入或賣出一定數量的約定標的物。
選擇權的分類
依權利型態區分，可分為買權(Call Option)及賣權(Put Option)。
買權(Call)
是指該權利的買方有權在約定期間內，以履約價格買入約定標的物，但無義務一定要執行該項
權利；而買權的賣方則有義務在買方選擇執行買入權利時，依約履行賣出標的物。
賣權(Put)
是指該權利的買方有權在約定期間內，以履約價格賣出約定標的物，但無義務一定要執行該項
權利；而賣權(Put Option)的賣方則有義務在買方選擇執行賣出權利時，依約履行買進標的物。
依履約期限區分，可分為美式選擇權及歐式選擇權。
美式選擇權(American Option)
美式選擇權的買方有權在合約到期日前的任何一天要求行使買入或賣出的權利。
歐式選擇權(European Option)
歐式選擇權的買方必須於合約到期日當日方可行使買入或賣出的權利。
內含價值(Intrinsic Value)
對買權而言，內含價值是指「現貨價格高於履約價的部份」，若用數學式表示即MAX（現貨價-履約價，0），上式是指取「現貨價-履約價」與「0」之間較大值的意思；對賣權)而言，剛好相反，即「履約價高於現貨價的部份」，用數學式表示即"MAX（履約價-現貨價，0）"。
時間價值(Time Value)
指選擇權市價減去內含價值的部份。
選擇權價內(in the money)、價平(at the money)與價外(out the money)的分別
價內選擇權指買方在此時要求履約即可獲利。因此價內買權，必是當現貨價格高於履約價格，買方可要求履約以低價買進，隨即以較高的市價賣出；而價內賣權，則必是目前市價低於履約價格，買方可以高價賣出，而以較低的市價買回。若市價等於履約價，稱作價平選擇權。
若買方在此時履約得不到任何好處反而有損失，則稱作價外選擇權，即當現貨價格小於履約價格的買權和現貨價格大於履約價的賣權。
選擇權的特性
一.槓桿操作
選擇權的買方只須先支付小額權利金，卻有獲利無限的可能，所以有以小搏大享有較大投資報酬的特性。
二.避險
當投資者不確定市場的未來發展走勢時，為了控制風險，確保獲利，可以購買選擇權的方式規避持有現貨的風險。換言之，若市場走勢不利現貨，則選擇權的獲利可以彌補現貨的損失，若市場走勢利於現貨，則選擇權部分也只損失小額權利金。以股票市場為例，當股市多空不明時，若投資人手中持有現股部位，為避免股市下跌而遭到資產損失，則可以買入賣權的方式來避險，未來若股市上漲，則現股部位將由股市中獲利，選擇權最多的損失為權利金；而若股市下跌，則將執行此賣權來彌補股市的損失。
三.遞延投資決策
由於選擇權的買方有權於未來的一段期間之中決定是否執行買入或賣出標的物的權利，因此可給予投資者足夠的時間來觀察及判斷，避免於市場趨勢不明朗時做出錯誤的決策。其次，美式選擇權的買方能於選擇權到期前任一天執行權利，因此持資者在資金不足時可先暫時不執行權利，對於投資人資金的調度較有利。
選擇權的履約時機
歐式選擇權的買方有權於到期日時，依市場情況來決定是否執行選擇權利，而決定是否執行的關鍵在於選擇權的內含價值。當內含價值大於／等於零時），投資人執行權利是有利的；而當內含價值小於零時，投資人執行權利將有損失，所以不具執行的價值。以下將就「買進買權」及「買進賣權」兩種形態的履約時機分別說明。
買進買權(Long Call)
買入買權者通常是對市場未來趨勢看漲而希望能在未來以低於市價的價格（即選擇權履約價）買入標的物。買權的內含價值計算公式為：標的物市價－（選擇權履約價）－選擇權權利金。所以當標的物市價上揚，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
買進賣權(Long Put)
買入賣權(Long Put Option)者通常是對市場未來趨勢看跌而希望能在未來以高於市價的價格（即選擇權履約價）賣出標的物。賣權的內含價值計算公式為：即選擇權履約價－（標的物市價）－選擇權權利金。所以當標的物市價下跌時，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
選擇權定義
選擇權是一種權利契約，買方支付權利金後，便有權利在未來約定的某特定日期（到期日），依約定之履約價格（Strike Price），買入或賣出一定數量的約定標的物。
選擇權的分類
依權利型態區分，可分為買權(Call Option)及賣權(Put Option)。
買權(Call)
是指該權利的買方有權在約定期間內，以履約價格買入約定標的物，但無義務一定要執行該項
權利；而買權的賣方則有義務在買方選擇執行買入權利時，依約履行賣出標的物。
賣權(Put)
是指該權利的買方有權在約定期間內，以履約價格賣出約定標的物，但無義務一定要執行該項
權利；而賣權(Put Option)的賣方則有義務在買方選擇執行賣出權利時，依約履行買進標的物。
依履約期限區分，可分為美式選擇權及歐式選擇權。
美式選擇權(American Option)
美式選擇權的買方有權在合約到期日前的任何一天要求行使買入或賣出的權利。
歐式選擇權(European Option)
歐式選擇權的買方必須於合約到期日當日方可行使買入或賣出的權利。
內含價值(Intrinsic Value)
對買權而言，內含價值是指「現貨價格高於履約價的部份」，若用數學式表示即MAX（現貨價-履約價，0），上式是指取「現貨價-履約價」與「0」之間較大值的意思；對賣權)而言，剛好相反，即「履約價高於現貨價的部份」，用數學式表示即"MAX（履約價-現貨價，0）"。
時間價值(Time Value)
指選擇權市價減去內含價值的部份。
選擇權價內(in the money)、價平(at the money)與價外(out the money)的分別
價內選擇權指買方在此時要求履約即可獲利。因此價內買權，必是當現貨價格高於履約價格，買方可要求履約以低價買進，隨即以較高的市價賣出；而價內賣權，則必是目前市價低於履約價格，買方可以高價賣出，而以較低的市價買回。若市價等於履約價，稱作價平選擇權。
若買方在此時履約得不到任何好處反而有損失，則稱作價外選擇權，即當現貨價格小於履約價格的買權和現貨價格大於履約價的賣權。
選擇權的特性
一.槓桿操作
選擇權的買方只須先支付小額權利金，卻有獲利無限的可能，所以有以小搏大享有較大投資報酬的特性。
二.避險
當投資者不確定市場的未來發展走勢時，為了控制風險，確保獲利，可以購買選擇權的方式規避持有現貨的風險。換言之，若市場走勢不利現貨，則選擇權的獲利可以彌補現貨的損失，若市場走勢利於現貨，則選擇權部分也只損失小額權利金。以股票市場為例，當股市多空不明時，若投資人手中持有現股部位，為避免股市下跌而遭到資產損失，則可以買入賣權的方式來避險，未來若股市上漲，則現股部位將由股市中獲利，選擇權最多的損失為權利金；而若股市下跌，則將執行此賣權來彌補股市的損失。
三.遞延投資決策
由於選擇權的買方有權於未來的一段期間之中決定是否執行買入或賣出標的物的權利，因此可給予投資者足夠的時間來觀察及判斷，避免於市場趨勢不明朗時做出錯誤的決策。其次，美式選擇權的買方能於選擇權到期前任一天執行權利，因此持資者在資金不足時可先暫時不執行權利，對於投資人資金的調度較有利。
選擇權的履約時機
歐式選擇權的買方有權於到期日時，依市場情況來決定是否執行選擇權利，而決定是否執行的關鍵在於選擇權的內含價值。當內含價值大於／等於零時），投資人執行權利是有利的；而當內含價值小於零時，投資人執行權利將有損失，所以不具執行的價值。以下將就「買進買權」及「買進賣權」兩種形態的履約時機分別說明。
買進買權(Long Call)
買入買權者通常是對市場未來趨勢看漲而希望能在未來以低於市價的價格（即選擇權履約價）買入標的物。買權的內含價值計算公式為：標的物市價－（選擇權履約價）－選擇權權利金。所以當標的物市價上揚，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
買進賣權(Long Put)
買入賣權(Long Put Option)者通常是對市場未來趨勢看跌而希望能在未來以高於市價的價格（即選擇權履約價）賣出標的物。賣權的內含價值計算公式為：即選擇權履約價－（標的物市價）－選擇權權利金。所以當標的物市價下跌時，致其內含價值大於／等於零時，選擇權買方執行權利是有利的。
當日沖銷
在當日建立新的選擇權部位，於當日收盤前沖銷持有部位結算差價之交易方式。
平倉
將原有部位沖銷。
最後交易日
以現行制度而言，國內選擇權的最後交易日為各該契約交割月份第三個星期三。
到期日
最後結算日同最後交易日
到期結算價
以最後結算日臺灣證券交易所當日交易時間收盤前三十分鐘內所提供標的指數之簡單算術平均價訂之。其計算方式，由交易所另訂之。
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