{"id":36412,"date":"2026-06-02T16:17:58","date_gmt":"2026-06-02T14:17:58","guid":{"rendered":"https:\/\/volbeast.com\/?p=36412"},"modified":"2026-08-04T14:43:07","modified_gmt":"2026-08-04T12:43:07","slug":"call-opce","status":"publish","type":"post","link":"https:\/\/volbeast.com\/cs\/blog\/call-opce\/","title":{"rendered":"Call opce"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"36412\" class=\"elementor elementor-36412\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c66d771 e-con-full vb-article e-flex e-con e-parent\" data-id=\"c66d771\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bb7d59a vb-answer-first elementor-widget elementor-widget-text-editor\" data-id=\"bb7d59a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce je op\u010dn\u00ed kontrakt, kter\u00fd d\u00e1v\u00e1 kupuj\u00edc\u00edmu pr\u00e1vo, ne povinnost, koupit podkladov\u00e9 aktivum za p\u0159edem danou cenu do ur\u010dit\u00e9ho data. Trade\u0159i ji pou\u017e\u00edvaj\u00ed ke spekulaci na r\u016fst, k efektivn\u011bj\u0161\u00ed pr\u00e1ci s kapit\u00e1lem nebo jako sou\u010d\u00e1st op\u010dn\u00edch strategi\u00ed, kde se pracuje s pr\u00e9mi\u00ed, \u010dasem, volatilitou a pravd\u011bpodobnost\u00ed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bba27c8 elementor-toc--minimized-on-mobile vb-toc elementor-widget elementor-widget-table-of-contents\" data-id=\"bba27c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;container&quot;:&quot;.vb-article&quot;,&quot;exclude_headings_by_selector&quot;:&quot;.vb-toc-exclude&quot;,&quot;minimized_on&quot;:&quot;mobile&quot;,&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<div class=\"elementor-toc__header-title\">\n\t\t\t\tObsah \u010dl\u00e1nku\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__bba27c8\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__bba27c8\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__bba27c8\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c66fca7 elementor-widget elementor-widget-text-editor\" data-id=\"c66fca7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Na call opci l\u00e1k\u00e1 jedna v\u011bc: zaplat\u00ed\u0161 zlomek ceny akci\u00ed a pohyb se ti prom\u00edt\u00e1, jako bys jich dr\u017eel rovnou sto. To je jej\u00ed s\u00edla \u2014 a z\u00e1rove\u0148 past, do kter\u00e9 za\u010d\u00e1te\u010dn\u00edk spadne nej\u010dast\u011bji.<\/p><p>Pr\u00e1v\u011b kv\u016fli p\u00e1ce se call opce za\u010d\u00e1te\u010dn\u00edk\u016fm \u010dasto zjednodu\u0161\u00ed na jedin\u00e9: s\u00e1zku na r\u016fst. To je ale m\u00e1lo. Na rozd\u00edl od prost\u00e9ho n\u00e1kupu akcie nepracuje\u0161 jen se sm\u011brem \u2014 do hry vstupuje pr\u00e9mie, kterou zaplat\u00ed\u0161, \u010das, kter\u00fd ti ub\u00edh\u00e1, a volatilita, kter\u00e1 cenou opce h\u00fdbe i bez pohybu akcie. Nemus\u00ed\u0161 ani p\u0159esn\u011b trefit, kam trh p\u016fjde; stav\u00ed\u0161 pozici pro sc\u00e9n\u00e1\u0159.<\/p><p>A i kdy\u017e vsad\u00ed\u0161 na r\u016fst, nekupuje\u0161 jen nad\u011bji, \u017ee \u201eto polet\u00ed&quot;. \u0158e\u0161\u00ed\u0161, jak vysoko se akcie mus\u00ed dostat, do kdy, a co ud\u011bl\u00e1\u0161, kdy\u017e se nehne. Jedna hranice je ale u n\u00e1kupu call opce dan\u00e1 p\u0159edem: maxim\u00e1ln\u011b m\u016f\u017ee\u0161 ztratit zaplacenou pr\u00e9mii.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-58a42e1 e-con-full vb-definition e-flex e-con e-child\" data-id=\"58a42e1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-039d27b vb-definition-text elementor-widget elementor-widget-text-editor\" data-id=\"039d27b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Pokud je\u0161t\u011b nem\u00e1\u0161 jasno v \u00fapln\u00fdch z\u00e1kladech, za\u010dni \u010dl\u00e1nkem <a href=\"\/cs\/blog\/co-jsou-opce\">Co jsou opce a jak funguj\u00ed?<\/a>. Tenhle text na n\u011bj navazuje.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80eb104 elementor-widget elementor-widget-text-editor\" data-id=\"80eb104\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Nejd\u0159\u00edv je proto pot\u0159eba odd\u011blit samotn\u00e9 pr\u00e1vo koupit podklad od zp\u016fsob\u016f, jak se s call opc\u00ed v praxi pracuje. N\u00e1kup call opce, kryt\u00fd v\u00fdpis a nah\u00fd v\u00fdpis maj\u00ed odli\u0161n\u00fd \u00fa\u010del, jinou logiku i \u00fapln\u011b jin\u00fd rizikov\u00fd profil.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eacb4db elementor-widget elementor-widget-heading\" data-id=\"eacb4db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Co je call opce?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf9d368 elementor-widget elementor-widget-text-editor\" data-id=\"cf9d368\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce (anglicky <em>call option<\/em>, \u010desky n\u011bkdy <strong>kupn\u00ed opce<\/strong>) je kontrakt nav\u00e1zan\u00fd na podkladov\u00e9 aktivum \u2014 typicky akcii nebo ETF, ale opce existuj\u00ed i na indexy, komodity nebo futures kontrakty. D\u00e1v\u00e1 sv\u00e9mu kupuj\u00edc\u00edmu <strong>pr\u00e1vo koupit<\/strong> tento podklad za p\u0159edem stanovenou cenu, takzvanou strike cenu, a to do data expirace.<\/p><p>Mal\u00e9, ale d\u016fle\u017eit\u00e9 up\u0159esn\u011bn\u00ed hned na za\u010d\u00e1tku: zp\u016fsob vypo\u0159\u00e1d\u00e1n\u00ed se u r\u016fzn\u00fdch podklad\u016f li\u0161\u00ed. U akciov\u00fdch a ETF opc\u00ed znamen\u00e1 uplatn\u011bn\u00ed re\u00e1ln\u00e9 dod\u00e1n\u00ed podkladu \u2014 tedy skute\u010dn\u00e9 akcie. Indexov\u00e9 opce se naopak vypo\u0159\u00e1d\u00e1vaj\u00ed <strong>v pen\u011bz\u00edch<\/strong> (cash settlement): \u017e\u00e1dn\u00fd \u201eindex&quot; se fyzicky nekupuje ani nedod\u00e1v\u00e1, jen se vyrovn\u00e1 pen\u011b\u017en\u00ed rozd\u00edl. U dal\u0161\u00edch deriv\u00e1t\u016f (futures, komodity) z\u00e1le\u017e\u00ed na specifikaci konkr\u00e9tn\u00edho kontraktu. V tomhle \u010dl\u00e1nku pracujeme s akciov\u00fdmi opcemi, kde uplatn\u011bn\u00ed znamen\u00e1 dod\u00e1n\u00ed akci\u00ed.<\/p><p>Dv\u011b strany obchodu, dv\u011b \u00fapln\u011b jin\u00e9 role:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ee6069 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"9ee6069\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>kupuj\u00edc\u00ed<\/strong> call opce m\u00e1 pr\u00e1vo koupit,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>vypisovatel<\/strong> call opce m\u00e1 povinnost prodat (dodat) podklad, pokud dojde k p\u0159i\u0159azen\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12eedb3 elementor-widget elementor-widget-text-editor\" data-id=\"12eedb3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Kupuj\u00edc\u00ed za to pr\u00e1vo plat\u00ed pr\u00e9mii. Vypisovatel pr\u00e9mii inkasuje, ale bere na sebe z\u00e1vazek. Pokud si trader plete n\u00e1kup call opce s jej\u00edm vyps\u00e1n\u00edm, plete si i riziko \u2014 p\u0159itom jde o dv\u011b protich\u016fdn\u00e9 pozice s velmi odli\u0161n\u00fdm rizikov\u00fdm profilem.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98f3ef6 elementor-widget elementor-widget-heading\" data-id=\"98f3ef6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Call opce jako pr\u00e1vo koupit<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-878e249 elementor-widget elementor-widget-text-editor\" data-id=\"878e249\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Kdy\u017e koup\u00ed\u0161 call opci, kupuje\u0161 si mo\u017enost koupit podklad za strike cenu. Kdy\u017e se ti to nevyplat\u00ed, pr\u00e1vo prost\u011b nevyu\u017eije\u0161. Za tu mo\u017enost plat\u00ed\u0161 op\u010dn\u00ed pr\u00e9mii.<\/p><p>P\u0159edstav si akcii za 100 USD. Koup\u00ed\u0161 call opci se strike cenou 105 USD a expirac\u00ed za 30 dn\u00ed. Pokud akcie v\u00fdrazn\u011b vyroste nad 105 USD, call opce m\u016f\u017ee z\u00edskat hodnotu. Pokud z\u016fstane pod 105 USD, opce m\u016f\u017ee expirovat bezcenn\u00e1 a ty p\u0159ijde\u0161 o zaplacenou pr\u00e9mii.<\/p><p>U jednoduch\u00e9ho n\u00e1kupu call opce je maxim\u00e1ln\u00ed ztr\u00e1ta omezen\u00e1 na zaplacenou pr\u00e9mii. Neznamen\u00e1 to, \u017ee je call opce bez rizika \u2014 znamen\u00e1 to, \u017ee u tohoto typu pozice v\u00ed\u0161 p\u0159edem, kolik nejv\u00edc m\u016f\u017ee\u0161 ztratit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f206013 elementor-widget elementor-widget-heading\" data-id=\"f206013\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Call opce nen\u00ed povinnost koupit<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e97b079 elementor-widget elementor-widget-text-editor\" data-id=\"e97b079\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Kupuj\u00edc\u00ed m\u00e1 pr\u00e1vo, ne povinnost. Kdy\u017e trh nejde podle o\u010dek\u00e1v\u00e1n\u00ed, opci neuplatn\u00ed\u0161 a ztr\u00e1ta z\u016fst\u00e1v\u00e1 na \u00farovni pr\u00e9mie.<\/p><p>Druh\u00e1 v\u011bc, kterou za\u010d\u00e1te\u010dn\u00edci podce\u0148uj\u00ed: opci nemus\u00ed\u0161 dr\u017eet do expirace. M\u016f\u017ee\u0161 ji prodat d\u0159\u00edv, proto\u017ee jej\u00ed hodnota se m\u011bn\u00ed v \u010dase. Kdo sleduje jen cenu akcie a zapom\u00edn\u00e1 na ub\u00edhaj\u00edc\u00ed \u010das a volatilitu, \u010dasto nech\u00e1pe, pro\u010d jeho opce ztr\u00e1c\u00ed, i kdy\u017e se podklad zrovna h\u00fdbe \u201espr\u00e1vn\u011b&quot;.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75e45f0 elementor-widget elementor-widget-heading\" data-id=\"75e45f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Jak call opce funguje v praxi?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ec4038 elementor-widget elementor-widget-text-editor\" data-id=\"0ec4038\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Vezm\u011bme to krok za krokem. Akcie se obchoduje za 100 USD. Trader koup\u00ed jednu call opci se strike cenou 105 USD a expirac\u00ed za 30 dn\u00ed a zaplat\u00ed pr\u00e9mii 2 USD za akcii.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cec57e2 elementor-alert-info elementor-widget elementor-widget-alert\" data-id=\"cec57e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"alert.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-alert\" role=\"alert\">\n\n\t\t\t\n\t\t\t\t\t\t<span class=\"elementor-alert-description\"><p>Jeden detail si zafixuj hned: <strong>jedna akciov\u00e1 opce kryje obvykle 100 akci\u00ed podkladu.<\/strong> V\u0161echno \u2014 pr\u00e9mie, zisk i ztr\u00e1ta \u2014 se po\u010d\u00edt\u00e1 na t\u011bch sto. Pr\u00e9mie 2 USD za akcii tedy znamen\u00e1, \u017ee za jednu call opci zaplat\u00ed\u0161 2 \u00d7 100 = 200 USD (bez poplatk\u016f). Stovka na jeden kontrakt se vr\u00e1t\u00ed v ka\u017ed\u00e9m v\u00fdpo\u010dtu d\u00e1l.<\/p><\/span>\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a6fcf1 elementor-widget elementor-widget-text-editor\" data-id=\"0a6fcf1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Kdy\u017e cena akcie vyroste t\u0159eba na 115 USD, call opce z\u00edsk\u00e1v\u00e1 vnit\u0159n\u00ed hodnotu. Kdy\u017e z\u016fstane pod 105 USD, m\u016f\u017ee vypr\u0161et bez hodnoty. Jen\u017ee aby byl obchod p\u0159i expiraci ziskov\u00fd, nesta\u010d\u00ed, aby se akcie dostala nad strike. Mus\u00ed vyr\u016fst dost na to, aby pokryla i zaplacenou pr\u00e9mii.<\/p><p>A p\u0159esn\u011b proto pot\u0159ebuje\u0161 break-even.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe76ead elementor-widget elementor-widget-heading\" data-id=\"fe76ead\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Break-even u call opce<\/h3>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a02933 e-con-full vb-definition e-flex e-con e-child\" data-id=\"3a02933\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-44f4282 vb-definition-text elementor-widget elementor-widget-text-editor\" data-id=\"44f4282\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Break-even u koupen\u00e9 call opce je <strong>strike cena plus zaplacen\u00e1 pr\u00e9mie<\/strong>.<\/p><p>Po\u010d\u00edt\u00e1 se takto:<\/p><p>strike cena 105 USD + pr\u00e9mie 2 USD = break-even 107 USD<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe17184 elementor-widget elementor-widget-text-editor\" data-id=\"fe17184\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>To znamen\u00e1, \u017ee p\u0159i expiraci mus\u00ed b\u00fdt podklad nad 107 USD, aby byl obchod ziskov\u00fd p\u0159ed zapo\u010dten\u00edm poplatk\u016f. Break-even ti \u0159\u00edk\u00e1, jak velk\u00fd pohyb doopravdy pot\u0159ebuje\u0161 \u2014 ne\u0159e\u0161\u00ed\u0161 jen sm\u011br, ale i velikost a na\u010dasov\u00e1n\u00ed r\u016fstu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05237af elementor-widget elementor-widget-heading\" data-id=\"05237af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Pro\u010d nesta\u010d\u00ed jen spr\u00e1vn\u011b odhadnout r\u016fst<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9a27db elementor-widget elementor-widget-text-editor\" data-id=\"e9a27db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>M\u016f\u017ee\u0161 m\u00edt pravdu, \u017ee akcie poroste, a na call opci p\u0159esto prod\u011blat. D\u00e1v\u00e1 to smysl ve chv\u00edli, kdy do hry p\u0159ibere\u0161 \u010das.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41104f2 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"41104f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Opce m\u00e1 <strong>expiraci<\/strong> \u2014 pokud r\u016fst p\u0159ijde a\u017e po n\u00ed, je ti k ni\u010demu.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Hodnota opce <strong>ub\u00fdv\u00e1 s \u010dasem<\/strong> (\u010dasov\u00fd rozpad, anglicky theta decay), i kdy\u017e se podklad neh\u00fdbe proti tob\u011b.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Roli hraje <strong>volatilita<\/strong> \u2014 kdy\u017e o\u010dek\u00e1van\u00fd pohyb trhu klesne, m\u016f\u017ee klesnout i cena opce.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">R\u016fst m\u016f\u017ee p\u0159ij\u00edt <strong>p\u0159\u00edli\u0161 pozd\u011b<\/strong> nebo b\u00fdt <strong>p\u0159\u00edli\u0161 slab\u00fd<\/strong>, ne\u017e aby p\u0159ekonal break-even.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9456972 elementor-blockquote--skin-border elementor-widget elementor-widget-blockquote\" data-id=\"9456972\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\tU call opce nesta\u010d\u00ed ot\u00e1zka \u201eporoste to?&quot;. Rozhoduje, o kolik a do kdy se akcie pohne, za jakou cenu jsi opci koupil \u2014 a podle jak\u00fdch pravidel z obchodu vystoup\u00ed\u0161.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85db9fb elementor-widget elementor-widget-heading\" data-id=\"85db9fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Kdy call opce vyd\u011bl\u00e1v\u00e1 a kdy prod\u011bl\u00e1v\u00e1?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93c7066 elementor-widget elementor-widget-text-editor\" data-id=\"93c7066\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Koupen\u00e1 call opce vyd\u011bl\u00e1v\u00e1, kdy\u017e podklad do expirace dostate\u010dn\u011b vyroste nad break-even. Prod\u011bl\u00e1v\u00e1, kdy\u017e z\u016fstane pod strike, vyroste p\u0159\u00edli\u0161 m\u00e1lo, nebo r\u016fst p\u0159ijde pozd\u011b \u2014 rozhoduje tedy sm\u011br i velikost a na\u010dasov\u00e1n\u00ed pohybu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d45741 vb-table elementor-widget elementor-widget-text-editor\" data-id=\"7d45741\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<table><thead><tr><th>Sc\u00e9n\u00e1\u0159<\/th><th>Co se d\u011bje s podkladem<\/th><th>Dopad na koupenou call opci<\/th><\/tr><\/thead><tbody><tr><td>Podklad v\u00fdrazn\u011b roste<\/td><td>Cena jde nad strike cenu<\/td><td>Call opce obvykle z\u00edsk\u00e1v\u00e1 na hodnot\u011b<\/td><\/tr><tr><td>Podklad stagnuje<\/td><td>Cena se dr\u017e\u00ed pobl\u00ed\u017e p\u016fvodn\u00ed \u00farovn\u011b<\/td><td>Opce m\u016f\u017ee ztr\u00e1cet hodnotu kv\u016fli \u010dasu<\/td><\/tr><tr><td>Podklad kles\u00e1<\/td><td>Cena jde proti o\u010dek\u00e1v\u00e1n\u00ed<\/td><td>Call opce obvykle ztr\u00e1c\u00ed hodnotu<\/td><\/tr><tr><td>R\u016fst p\u0159ijde pozd\u011b<\/td><td>Trh vyroste a\u017e bl\u00edzko expirace<\/td><td>V\u00fdsledek m\u016f\u017ee b\u00fdt hor\u0161\u00ed kv\u016fli \u010dasov\u00e9mu rozpadu<\/td><\/tr><tr><td>Volatilita kles\u00e1<\/td><td>O\u010dek\u00e1van\u00fd pohyb trhu se sni\u017euje<\/td><td>Hodnota opce m\u016f\u017ee klesat i bez poklesu podkladu<\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e649ac elementor-widget elementor-widget-text-editor\" data-id=\"6e649ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Koupen\u00e1 call opce m\u00e1 omezen\u00e9 riziko ve v\u00fd\u0161i zaplacen\u00e9 pr\u00e9mie. To ale neznamen\u00e1, \u017ee je skv\u011bl\u00fd n\u00e1pad kupovat jednu call opci za druhou. Kdo opakovan\u011b kupuje opce bez syst\u00e9mu, poskl\u00e1d\u00e1 \u0159adu mal\u00fdch ztr\u00e1t d\u0159\u00edv, ne\u017e by \u010dekal. Omezen\u00e9 riziko je toti\u017e po\u0159\u00e1d riziko.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-991c49f elementor-widget elementor-widget-heading\" data-id=\"991c49f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">N\u00e1kup call opce vs. vypisov\u00e1n\u00ed call opce<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53947cc elementor-widget elementor-widget-text-editor\" data-id=\"53947cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>P\u0159i n\u00e1kupu call opce plat\u00ed\u0161 pr\u00e9mii a z\u00edsk\u00e1v\u00e1\u0161 pr\u00e1vo koupit podklad. P\u0159i vypisov\u00e1n\u00ed call opce pr\u00e9mii inkasuje\u0161, ale p\u0159ij\u00edm\u00e1\u0161 povinnost podklad prodat (dodat), pokud dojde k p\u0159i\u0159azen\u00ed. Jsou to protilehl\u00e9 pozice \u2014 a u call opce se jejich riziko li\u0161\u00ed obzvl\u00e1\u0161\u0165 dramaticky.<\/p><p>Zjednodu\u0161en\u011b jde o opa\u010dn\u00e9 s\u00e1zky na to, kde bude cena <strong>p\u0159i expiraci<\/strong>:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b40b64b elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"b40b64b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Nakupuj\u00edc\u00ed<\/strong> call opce s\u00e1z\u00ed, \u017ee cena do expirace vyroste nad break-even.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Vypisovatel<\/strong> call opce s\u00e1z\u00ed na opak: \u017ee cena z\u016fstane pod strike, opce vypr\u0161\u00ed bezcenn\u00e1 a on si nech\u00e1 pr\u00e9mii.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0eea493 vb-table elementor-widget elementor-widget-text-editor\" data-id=\"0eea493\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<table><thead><tr><th>P\u0159\u00edstup<\/th><th>Co trader d\u011bl\u00e1<\/th><th>S\u00e1z\u00ed na \/ o\u010dek\u00e1v\u00e1<\/th><th>Hlavn\u00ed riziko<\/th><\/tr><\/thead><tbody><tr><td>N\u00e1kup call opce<\/td><td>Plat\u00ed pr\u00e9mii<\/td><td>\u017de cena do expirace vyroste nad break-even<\/td><td>Ztr\u00e1ta zaplacen\u00e9 pr\u00e9mie<\/td><\/tr><tr><td>Vypisov\u00e1n\u00ed call opce<\/td><td>Inkasuje pr\u00e9mii<\/td><td>\u017de cena p\u0159i expiraci z\u016fstane pod strike (opce vypr\u0161\u00ed bezcenn\u00e1)<\/td><td>P\u0159i p\u0159i\u0159azen\u00ed prodat 100 akci\u00ed za strike; u nah\u00e9ho v\u00fdpisu je ztr\u00e1ta teoreticky neomezen\u00e1<\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63d874a elementor-widget elementor-widget-heading\" data-id=\"63d874a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">N\u00e1kup call opce<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7efe13 elementor-widget elementor-widget-text-editor\" data-id=\"f7efe13\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>N\u00e1kup call opce se hod\u00ed pro spekulaci na r\u016fst. Maxim\u00e1ln\u00ed ztr\u00e1ta je zaplacen\u00e1 pr\u00e9mie a ziskov\u00fd potenci\u00e1l roste, \u010d\u00edm v\u00fd\u0161 se podklad dostane nad break-even. Slabinou je \u010das: \u010dasov\u00fd rozpad a \u0161patn\u00e9 na\u010dasov\u00e1n\u00ed dok\u00e1\u017eou obchod potopit i tehdy, kdy\u017e je sm\u011br v z\u00e1sad\u011b spr\u00e1vn\u00fd.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-22222f3 elementor-widget elementor-widget-heading\" data-id=\"22222f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Vypisov\u00e1n\u00ed call opce<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2bc74c0 elementor-widget elementor-widget-text-editor\" data-id=\"2bc74c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tady je pot\u0159eba b\u00fdt obzvl\u00e1\u0161\u0165 opatrn\u00fd, proto\u017ee z\u00e1le\u017e\u00ed na tom, jestli podklad vlastn\u00ed\u0161.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a7035d elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"6a7035d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Covered call (kryt\u00fd v\u00fdpis):<\/strong> vypisuje\u0161 call opci proti akci\u00edm, kter\u00e9 u\u017e dr\u017e\u00ed\u0161. Inkasuje\u0161 pr\u00e9mii, ale v\u00fdm\u011bnou se vzd\u00e1v\u00e1\u0161 \u010d\u00e1sti r\u016fstu nad strike \u2014 pokud akcie vylet\u00ed, prod\u00e1\u0161 ji za strike. Je to op\u010dn\u00ed p\u0159\u00edstup, kter\u00e9mu se v\u011bnuje samostatn\u00fd \u010dl\u00e1nek o <strong>covered call<\/strong>.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Nah\u00fd v\u00fdpis (naked call):<\/strong> vypisuje\u0161 call opci, ani\u017e bys podklad vlastnil. Inkasuje\u0161 pr\u00e9mii, ale pokud cena vyst\u0159el\u00ed, mus\u00ed\u0161 nakoupit draze a dodat levn\u011b.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf310de elementor-alert-warning elementor-widget elementor-widget-alert\" data-id=\"cf310de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"alert.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-alert\" role=\"alert\">\n\n\t\t\t\n\t\t\t\t\t\t<span class=\"elementor-alert-description\"><p>Vypisov\u00e1n\u00ed call opc\u00ed m\u016f\u017ee p\u016fsobit klidn\u011b, proto\u017ee inkasuje\u0161 pr\u00e9mii. U nah\u00e9ho v\u00fdpisu je to ale jedna z nejrizikov\u011bj\u0161\u00edch pozic na trhu \u2014 riziko nezmiz\u00ed, jen se schov\u00e1 za p\u0159ijatou pr\u00e9mii. P\u0159ijat\u00e1 pr\u00e9mie nen\u00ed zisk zdarma.<\/p><\/span>\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ecdc08 elementor-widget elementor-widget-heading\" data-id=\"2ecdc08\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Co mus\u00ed trh ud\u011blat, aby do\u0161lo k p\u0159i\u0159azen\u00ed?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9cd612 elementor-widget elementor-widget-text-editor\" data-id=\"a9cd612\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce se dostane \u201edo pen\u011bz&quot; (anglicky <em>in the money<\/em>, zkratka ITM), kdy\u017e cena podkladu vystoup\u00e1 nad strike cenu. V na\u0161em p\u0159\u00edkladu (strike 105 USD) to nastane, jakmile akcie p\u0159ekro\u010d\u00ed 105 USD. Pak m\u016f\u017ee dr\u017eitel call opce uplatnit pr\u00e1vo koupit za 105 USD \u2014 a ty jako vypisovatel mus\u00ed\u0161 podklad za 105 USD prodat (dodat).<\/p><p>Proto\u017ee jedna opce kryje 100 akci\u00ed, p\u0159i p\u0159i\u0159azen\u00ed nedod\u00e1v\u00e1\u0161 \u201ekousek&quot;, ale <strong>100 akci\u00ed za strike cenu<\/strong>. Pokud akcie vlastn\u00ed\u0161 (covered call), prost\u011b je za 105 USD prod\u00e1\u0161. Pokud je nevlastn\u00ed\u0161 (naked call), mus\u00ed\u0161 jich 100 nejd\u0159\u00edv koupit za aktu\u00e1ln\u00ed tr\u017en\u00ed cenu \u2014 a ta m\u016f\u017ee b\u00fdt mnohem v\u00fd\u0161.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1246244 elementor-widget elementor-widget-text-editor\" data-id=\"1246244\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Naopak kdy\u017e cena p\u0159i expiraci z\u016fstane pod strike (105 USD), opce nem\u00e1 vnit\u0159n\u00ed hodnotu, nikdo ji neuplatn\u00ed, vypr\u0161\u00ed bezcenn\u00e1 a ty si nech\u00e1\u0161 celou pr\u00e9mii. (U americk\u00fdch opc\u00ed m\u016f\u017ee p\u0159i\u0159azen\u00ed p\u0159ij\u00edt i p\u0159ed expirac\u00ed, ale typicky a\u017e kdy\u017e je opce v pen\u011bz\u00edch.)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1cefa41 elementor-alert-warning elementor-widget elementor-widget-alert\" data-id=\"1cefa41\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"alert.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-alert\" role=\"alert\">\n\n\t\t\t\n\t\t\t\t\t\t<span class=\"elementor-alert-description\"><p>A te\u010f to nejd\u016fle\u017eit\u011bj\u0161\u00ed a u call opce naprosto z\u00e1sadn\u00ed: <strong>u nah\u00e9ho v\u00fdpisu je tvoje ztr\u00e1ta teoreticky neomezen\u00e1.<\/strong> Cena akcie toti\u017e m\u016f\u017ee r\u016fst bez horn\u00ed hranice. Vyp\u00ed\u0161e\u0161 call se strikem 105, inkasuje\u0161 2 USD, a akcie vylet\u00ed na 150 \u2014 mus\u00ed\u0161 koupit za 150 a prodat za 105, ztr\u00e1ta je 45 USD na akcii minus p\u0159ijat\u00e1 pr\u00e9mie, tedy 4 300 USD na jedin\u00fd kontrakt. A nic ti nezaru\u010duje, \u017ee se to zastav\u00ed. Tohle je rozd\u00edl proti put opci, kde je ztr\u00e1ta velk\u00e1, ale omezen\u00e1 (podklad m\u016f\u017ee spadnout nejv\u00fd\u0161 na nulu). U nah\u00e9 call opce strop neexistuje.<\/p><\/span>\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b2d800 elementor-widget elementor-widget-text-editor\" data-id=\"5b2d800\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Pr\u00e1v\u011b proto nah\u00e9 vypisov\u00e1n\u00ed call opc\u00ed <strong>nen\u00ed prvn\u00ed krok pro za\u010d\u00e1te\u010dn\u00edka<\/strong> \u2014 vy\u017eaduje kapit\u00e1l, pravidla, \u0159\u00edzen\u00ed rizika a pochopen\u00ed mechaniky. Kryt\u00e1 varianta (covered call) m\u00e1 profil \u00fapln\u011b jin\u00fd a m\u00e9n\u011b dramatick\u00fd.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5e622c elementor-widget elementor-widget-heading\" data-id=\"d5e622c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Call opce vs. put opce<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a3160ff elementor-widget elementor-widget-text-editor\" data-id=\"a3160ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce d\u00e1v\u00e1 pr\u00e1vo koupit podkladov\u00e9 aktivum. Put opce d\u00e1v\u00e1 pr\u00e1vo podklad prodat. Zjednodu\u0161en\u011b se call opce pou\u017e\u00edv\u00e1 p\u0159i o\u010dek\u00e1v\u00e1n\u00ed r\u016fstu a put opce p\u0159i o\u010dek\u00e1v\u00e1n\u00ed poklesu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0d542d vb-table elementor-widget elementor-widget-text-editor\" data-id=\"a0d542d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<table><thead><tr><th>Typ opce<\/th><th>Pr\u00e1vo<\/th><th>Typick\u00e9 pou\u017eit\u00ed<\/th><th>Zjednodu\u0161en\u00fd sc\u00e9n\u00e1\u0159<\/th><\/tr><\/thead><tbody><tr><td>Call opce<\/td><td>Koupit podklad<\/td><td>Spekulace na r\u016fst<\/td><td>Trader o\u010dek\u00e1v\u00e1 r\u016fst ceny<\/td><\/tr><tr><td>Put opce<\/td><td>Prodat podklad<\/td><td>Spekulace na pokles, zaji\u0161t\u011bn\u00ed<\/td><td>Trader o\u010dek\u00e1v\u00e1 pokles ceny<\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb9adc8 elementor-widget elementor-widget-text-editor\" data-id=\"bb9adc8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Pro prvn\u00ed orientaci to sta\u010d\u00ed, ale je to hrub\u00e9. V kombinovan\u00fdch strategi\u00edch slou\u017e\u00ed call i put opce \u00fapln\u011b jin\u00fdm \u00fa\u010del\u016fm ne\u017e \u201es\u00e1zce na sm\u011br&#8220; \u2014 t\u0159eba pr\u00e1ci s volatilitou nebo s p\u0159edem ohrani\u010den\u00fdm rizikem. Druhou stranu mince rozeb\u00edr\u00e1 \u010dl\u00e1nek <a href=\"\/cs\/blog\/put-opce\">Put opce: co znamen\u00e1 a jak funguje<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92a8c2e elementor-widget elementor-widget-heading\" data-id=\"92a8c2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">K \u010demu trade\u0159i call opce pou\u017e\u00edvaj\u00ed?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7213825 elementor-widget elementor-widget-text-editor\" data-id=\"7213825\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce nen\u00ed jedno\u00fa\u010delov\u00e1. Trade\u0159i ji nasazuj\u00ed z r\u016fzn\u00fdch d\u016fvod\u016f \u2014 a v t\u00e9 pestrosti je jej\u00ed hodnota.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-61c72e0 elementor-widget elementor-widget-heading\" data-id=\"61c72e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Spekulace na r\u016fst<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-690c055 elementor-widget elementor-widget-text-editor\" data-id=\"690c055\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Trader o\u010dek\u00e1v\u00e1 r\u016fst podkladu, koup\u00ed call opci a riskuje zaplacenou pr\u00e9mii (pr\u00e1v\u011b pro tohle pou\u017eit\u00ed se call opci n\u011bkdy \u0159\u00edk\u00e1 opce na r\u016fst). K \u00fasp\u011bchu pot\u0159ebuje t\u0159i v\u011bci najednou: spr\u00e1vn\u00fd sm\u011br, dostate\u010dnou velikost pohybu a spr\u00e1vn\u00e9 na\u010dasov\u00e1n\u00ed v r\u00e1mci expirace.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f26b7bb elementor-widget elementor-widget-heading\" data-id=\"f26b7bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Efektivn\u011bj\u0161\u00ed pr\u00e1ce s kapit\u00e1lem<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9de459c elementor-widget elementor-widget-text-editor\" data-id=\"9de459c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce m\u016f\u017ee st\u00e1t zlomek toho, co n\u00e1kup 100 akci\u00ed. D\u00edky tomu z\u00edsk\u00e1\u0161 expozici na r\u016fst s ni\u017e\u0161\u00ed vstupn\u00ed \u010d\u00e1stkou. Pozor ale na past, kterou jsme zm\u00ednili na za\u010d\u00e1tku:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd60fb3 elementor-alert-warning elementor-widget elementor-widget-alert\" data-id=\"dd60fb3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"alert.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-alert\" role=\"alert\">\n\n\t\t\t\n\t\t\t\t\t\t<span class=\"elementor-alert-description\"><p>Ni\u017e\u0161\u00ed vstupn\u00ed n\u00e1klad neznamen\u00e1 ni\u017e\u0161\u00ed riziko rozhodnut\u00ed. Maxim\u00e1ln\u00ed ztr\u00e1ta u n\u00e1kupu call opce je sice omezen\u00e1 na pr\u00e9mii, ale pravd\u011bpodobnost, \u017ee o ni p\u0159ijde\u0161 celou, b\u00fdv\u00e1 vy\u0161\u0161\u00ed, ne\u017e \u010dek\u00e1\u0161 \u2014 opce m\u016f\u017ee vypr\u0161et bezcenn\u00e1. Levn\u011bj\u0161\u00ed vstup nen\u00ed tot\u00e9\u017e co bezpe\u010dn\u011bj\u0161\u00ed obchod.<\/p><\/span>\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2fcadc elementor-widget elementor-widget-heading\" data-id=\"e2fcadc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Vypisov\u00e1n\u00ed call opc\u00ed pro inkaso pr\u00e9mie<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73f3637 elementor-widget elementor-widget-text-editor\" data-id=\"73f3637\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Trader, kter\u00fd akcie u\u017e dr\u017e\u00ed, m\u016f\u017ee proti nim vypsat call opci a inkasovat pr\u00e9mii \u2014 typicky kdy\u017e je ochotn\u00fd akcii prodat za vy\u0161\u0161\u00ed cenu. Mus\u00ed ale po\u010d\u00edtat s mo\u017enost\u00ed p\u0159i\u0159azen\u00ed. Tomuto op\u010dn\u00edmu p\u0159\u00edstupu se podrobn\u011b v\u011bnuje samostatn\u00fd \u010dl\u00e1nek o <strong>covered call<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-519e169 elementor-widget elementor-widget-heading\" data-id=\"519e169\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">V\u00fdhody call opc\u00ed<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-738a332 elementor-widget elementor-widget-text-editor\" data-id=\"738a332\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce ti d\u00e1v\u00e1 n\u011bco, co u prost\u00e9ho n\u00e1kupu akci\u00ed nem\u00e1\u0161: \u00fa\u010dast na r\u016fstu s <strong>p\u0159edem zn\u00e1m\u00fdm a omezen\u00fdm vstupn\u00edm rizikem<\/strong> \u2014 a s men\u0161\u00edm kapit\u00e1lem, ne\u017e kolik by st\u00e1lo sto akci\u00ed. Nemus\u00ed\u0161 v\u00e1zat celou \u010d\u00e1stku, abys m\u011bl expozici na pohyb.<\/p><p>Konkr\u00e9tn\u00ed p\u0159\u00edklad: v\u011b\u0159\u00ed\u0161, \u017ee akcie po nejist\u00e9m ozn\u00e1men\u00ed vyroste, ale nechce\u0161 do n\u00ed zamknout 10 000 USD. Koup\u00ed\u0161 call opci za 200 USD. Kdy\u017e akcie vylet\u00ed, profituje\u0161 z pohybu sta akci\u00ed. Kdy\u017e ne, tvoje ztr\u00e1ta je jen ta pr\u00e9mie \u2014 p\u0159edem ji zn\u00e1\u0161.<\/p><p>Mezi konkr\u00e9tn\u00ed v\u00fdhody pat\u0159\u00ed:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1064981 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1064981\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">mo\u017enost profitovat z r\u016fstu podkladu,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">u n\u00e1kupu call opce <strong>p\u0159edem zn\u00e1m\u00e9 maxim\u00e1ln\u00ed riziko<\/strong> (zaplacen\u00e1 pr\u00e9mie),<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">ni\u017e\u0161\u00ed vstupn\u00ed kapit\u00e1l oproti n\u00e1kupu 100 akci\u00ed,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">flexibilita a vyu\u017eit\u00ed v kombinovan\u00fdch strategi\u00edch,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">pr\u00e1ce se sc\u00e9n\u00e1\u0159i a s p\u0159edem definovan\u00fdm rizikem m\u00edsto pouh\u00e9ho tipov\u00e1n\u00ed sm\u011bru.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a3c673b elementor-widget elementor-widget-text-editor\" data-id=\"a3c673b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>To, \u017ee sv\u00e9 riziko u n\u00e1kupu zn\u00e1\u0161 dop\u0159edu, je samo o sob\u011b v\u00fdhoda \u2014 d\u00e1v\u00e1 ti kontrolu, kterou prost\u00e9 \u201ekoup\u00edm akcie a uvid\u00edm&quot; nenab\u00edz\u00ed. Po\u0159\u00e1d ale plat\u00ed: tu kontrolu m\u00e1\u0161 jen tehdy, kdy\u017e v\u00ed\u0161, pro\u010d pozici otev\u00edr\u00e1\u0161, kolik riskuje\u0161 a kdy z n\u00ed vystoup\u00ed\u0161. N\u00e1stroj ti d\u00e1v\u00e1 mo\u017enosti, proces z nich d\u011bl\u00e1 v\u00fdhodu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9dff98a elementor-widget elementor-widget-heading\" data-id=\"9dff98a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Rizika call opc\u00ed<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-428e828 elementor-widget elementor-widget-text-editor\" data-id=\"428e828\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>U call opc\u00ed nejv\u011bt\u0161\u00ed probl\u00e9m nepramen\u00ed z toho, \u017ee trader netref\u00ed r\u016fst. Pramen\u00ed z toho, \u017ee nepo\u010d\u00edt\u00e1 s \u010dasem, volatilitou, pr\u00e9mi\u00ed a p\u0159edem dan\u00fdm pl\u00e1nem v\u00fdstupu.<\/p><p>Ka\u017ed\u00e9 riziko, kter\u00e9 call opce p\u0159in\u00e1\u0161\u00ed, m\u00e1 sv\u016fj prot\u011bj\u0161ek v procesu:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15fc8a0 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"15fc8a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">M\u016f\u017ee\u0161 p\u0159ij\u00edt o celou zaplacenou pr\u00e9mii \u2014 proto funguje pravidlo velikosti pozice a riskuje\u0161 jen to, co jsi p\u0159ipraven\u00fd ztratit.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">\u010casov\u00fd rozpad ukrajuje hodnotu opce \u2014 proto pot\u0159ebuje\u0161 pl\u00e1n v\u00fdstupu p\u0159edem, ne jen n\u00e1pad na vstup.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Pokles volatility m\u016f\u017ee srazit cenu opce i bez poklesu podkladu \u2014 proto jsou podm\u00ednky vstupu sou\u010d\u00e1st\u00ed rozhodnut\u00ed, ne jen n\u00e1zor na sm\u011br.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">\u0160patn\u00e9 na\u010dasov\u00e1n\u00ed potop\u00ed i spr\u00e1vn\u00fd sm\u011br \u2014 proto po\u010d\u00edt\u00e1\u0161 s break-even bodem a velikost\u00ed pohybu.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Nah\u00e1 vypsan\u00e1 call opce m\u00e1 teoreticky neomezenou ztr\u00e1tu \u2014 proto to nen\u00ed pozice pro za\u010d\u00e1te\u010dn\u00edka a vy\u017eaduje kapit\u00e1l, pravidla a kryt\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Opakovan\u00e9 mal\u00e9 ztr\u00e1ty bez syst\u00e9mu se rychle s\u010d\u00edtaj\u00ed \u2014 proto existuje obchodn\u00ed den\u00edk a zp\u011btn\u00e9 vyhodnocen\u00ed ka\u017ed\u00e9ho obchodu.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ef0b8b elementor-widget elementor-widget-heading\" data-id=\"2ef0b8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Riziko u koupen\u00e9 call opce<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e0a990 elementor-widget elementor-widget-text-editor\" data-id=\"7e0a990\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Maxim\u00e1ln\u00ed ztr\u00e1ta je pr\u00e9mie \u2014 to zn\u00ed krotce. H\u00e1\u010dek je v pravd\u011bpodobnosti: koupen\u00e9 opce kon\u010d\u00ed bezcenn\u00e9 \u010dast\u011bji, ne\u017e si za\u010d\u00e1te\u010dn\u00edk mysl\u00ed. S\u00e9rie mal\u00fdch ztr\u00e1t bez syst\u00e9mu nen\u00ed nic jin\u00e9ho ne\u017e drah\u00e9 tipov\u00e1n\u00ed r\u016fstu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df181a1 elementor-widget elementor-widget-heading\" data-id=\"df181a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Riziko u vypsan\u00e9 call opce<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1dede1f elementor-widget elementor-widget-text-editor\" data-id=\"1dede1f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tady z\u00e1le\u017e\u00ed na konstrukci. <strong>Covered call<\/strong> (vlastn\u00ed\u0161 akcie) m\u00e1 omezen\u00fd, p\u0159edv\u00eddateln\u00fd profil \u2014 vzd\u00e1v\u00e1\u0161 se \u010d\u00e1sti r\u016fstu. <strong>Naked call<\/strong> (akcie nevlastn\u00ed\u0161) m\u00e1 <strong>teoreticky neomezenou ztr\u00e1tu<\/strong>, proto\u017ee cena m\u016f\u017ee r\u016fst bez stropu. Nah\u00e9 vypisov\u00e1n\u00ed call opc\u00ed proto pat\u0159\u00ed mezi nejrizikov\u011bj\u0161\u00ed pozice v\u016fbec a nen\u00ed vhodn\u00e9 bez kapit\u00e1lu, pravidel a pochopen\u00ed mechaniky.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e22dc38 elementor-widget elementor-widget-heading\" data-id=\"e22dc38\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Jsou call opce vhodn\u00e9 pro za\u010d\u00e1te\u010dn\u00edky?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dfcce48 elementor-widget elementor-widget-text-editor\" data-id=\"dfcce48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce jsou pro za\u010d\u00e1te\u010dn\u00edka u\u017eite\u010dn\u00e9 jako t\u00e9ma ke studiu \u2014 pom\u00e1haj\u00ed pochopit, jak opce pracuj\u00ed s r\u016fstem, \u010dasem, pr\u00e9mi\u00ed a rizikem. Pro re\u00e1ln\u00e9 obchodov\u00e1n\u00ed ale vy\u017eaduj\u00ed p\u0159\u00edpravu, pochopen\u00ed z\u00e1kladn\u00edch pojm\u016f a jasn\u00fd pl\u00e1n. Bez toho se z call opc\u00ed snadno stane jen drah\u00e9 tipov\u00e1n\u00ed sm\u011bru trhu.<\/p><p>Ne\u017e do call opc\u00ed po\u0161le\u0161 re\u00e1ln\u00e9 pen\u00edze, m\u011bl bys m\u00edt jasno v tomhle:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f4cf283 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f4cf283\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">rozd\u00edl mezi call a put opc\u00ed,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">co znamen\u00e1 strike, expirace, pr\u00e9mie a break-even,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">rozd\u00edl mezi n\u00e1kupem a vypisov\u00e1n\u00edm call opce (a mezi covered a naked call),<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">co se stane p\u0159i r\u016fzn\u00fdch sc\u00e9n\u00e1\u0159\u00edch trhu,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">pro\u010d neza\u010d\u00ednat vypisov\u00e1n\u00edm opc\u00ed bez pravidel.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-734f180 elementor-widget elementor-widget-text-editor\" data-id=\"734f180\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A ne\u017e p\u0159ijdou re\u00e1ln\u00e9 pen\u00edze, projdi si cel\u00fd postup nane\u010disto \u2014 <a href=\"\/cs\/blog\/paper-trading\">paper trading<\/a> ti k tomu d\u00e1 prostor bez finan\u010dn\u00edho rizika.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49c2b36 vb-cta elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"49c2b36\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tFree Ride\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tChce\u0161 si nejd\u0159\u00edv ud\u011blat p\u0159edstavu, jak ve Volbeast p\u0159em\u00fd\u0161l\u00edme o opc\u00edch? Free Ride jsou 3 lekce zdarma \u2014 uk\u00e1\u017eou ti n\u00e1\u0161 p\u0159\u00edstup ke sc\u00e9n\u00e1\u0159\u016fm a riziku, abys zjistil, jestli ti tenhle styl obchodov\u00e1n\u00ed d\u00e1v\u00e1 smysl.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/volbeast.com\/cs\/free-ride\">\n\t\t\t\t\t\tChci Free Ride\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a565ef9 elementor-widget elementor-widget-heading\" data-id=\"a565ef9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Jednoduch\u00fd p\u0159\u00edklad call opce krok za krokem<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3bb3c01 elementor-widget elementor-widget-text-editor\" data-id=\"3bb3c01\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Projd\u011bme si jeden obchod od vstupu a\u017e po expiraci.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-486d013 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"486d013\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>1.<\/strong> Akcie stoj\u00ed 100 USD.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>2.<\/strong> Trader o\u010dek\u00e1v\u00e1 r\u016fst.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>3.<\/strong> Koup\u00ed call opci se strike cenou 105 USD.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>4.<\/strong> Zaplat\u00ed pr\u00e9mii 2 USD za akcii (200 USD za kontrakt).<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>5.<\/strong> Expirace je za 30 dn\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>6.<\/strong> Break-even je 107 USD (105 + 2).<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04148b7 elementor-widget elementor-widget-text-editor\" data-id=\"04148b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>P\u0159i expiraci pak mohou nastat t\u0159i situace:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a8d210 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5a8d210\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Akcie vyroste na 112 USD.<\/strong> Call opce m\u00e1 vnit\u0159n\u00ed hodnotu 7 USD (112 \u2212 105). Po ode\u010dten\u00ed pr\u00e9mie 2 USD je orienta\u010dn\u00ed zisk 5 USD na akcii, tedy zhruba 500 USD na kontrakt p\u0159ed poplatky.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Akcie z\u016fstane na 105 USD nebo n\u00ed\u017e.<\/strong> Opce je mimo pen\u00edze a m\u016f\u017ee expirovat bezcenn\u00e1. Ztr\u00e1c\u00ed\u0161 celou pr\u00e9mii \u2014 2 USD na akcii, tedy ~200 USD za kontrakt.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>Akcie vyroste jen na 106 USD.<\/strong> Trefil jsi sm\u011br, a p\u0159esto jsi ve ztr\u00e1t\u011b. Opce m\u00e1 hodnotu 1 USD, ale zaplatil jsi 2 USD \u2014 v\u00fdsledek je m\u00ednus 1 USD na akcii, tedy ztr\u00e1ta 100 USD bez poplatk\u016f. Jsi pod break-even bodem 107 USD.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fa0f8b5 elementor-alert-info elementor-widget elementor-widget-alert\" data-id=\"fa0f8b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"alert.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-alert\" role=\"alert\">\n\n\t\t\t\n\t\t\t\t\t\t<span class=\"elementor-alert-description\"><p>Vid\u00ed\u0161, pro\u010d \u201emysl\u00edm, \u017ee to poroste&quot; samo o sob\u011b nesta\u010d\u00ed. Bez odpov\u011bdi na to, kam a\u017e akcie vyroste, do kdy, kolik jsi za opci dal a kdy vystoup\u00ed\u0161, z\u016fst\u00e1v\u00e1 z call opce jen drah\u00fd tip.<\/p><\/span>\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a31c88 elementor-widget elementor-widget-heading\" data-id=\"3a31c88\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Jak nad call opcemi p\u0159em\u00fd\u0161l\u00ed Volbeast<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52a466c elementor-widget elementor-widget-text-editor\" data-id=\"52a466c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Pro n\u00e1s call opce nen\u00ed tla\u010d\u00edtko \u00bblong\u00ab ani zkratka, jak rychle nafouknout \u00fa\u010det.<\/p><p>Nejde o h\u00e1d\u00e1n\u00ed, kdy p\u0159ijde r\u016fst, ani o impulzivn\u00ed n\u00e1kup opc\u00ed po prvn\u00edm zelen\u00e9m dni. Jde o pr\u00e1ci se sc\u00e9n\u00e1\u0159em, pochopen\u00ed rizika a o proces, kter\u00fd um\u00ed\u0161 zopakovat a vyhodnotit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15f9406 elementor-blockquote--skin-border elementor-widget elementor-widget-blockquote\" data-id=\"15f9406\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\tCall opce nen\u00ed pl\u00e1n. Call opce je n\u00e1stroj. Pl\u00e1n vznik\u00e1 a\u017e ve chv\u00edli, kdy v\u00ed\u0161, pro\u010d ji pou\u017e\u00edv\u00e1\u0161, kolik riskuje\u0161 a podle \u010deho obchod vyhodnot\u00ed\u0161.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-19209d7 elementor-widget elementor-widget-text-editor\" data-id=\"19209d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>U call opc\u00ed je nejv\u011bt\u0161\u00ed rozd\u00edl v p\u0159\u00edprav\u011b p\u0159ed vstupem. Je\u0161t\u011b p\u0159ed otev\u0159en\u00edm pozice mus\u00ed b\u00fdt jasn\u00e9, jak\u00fd sc\u00e9n\u00e1\u0159 obchod sleduje, kolik stoj\u00ed, kde le\u017e\u00ed break-even, co se stane p\u0159i stagnaci podkladu a kdy u\u017e obchod ned\u00e1v\u00e1 smysl d\u00e1l dr\u017eet.<\/p><p>\u010c\u00edm v\u00edc rozhodnut\u00ed vznik\u00e1 a\u017e b\u011bhem pohybu trhu, t\u00edm v\u00edc se z op\u010dn\u00ed pozice st\u00e1v\u00e1 improvizace. Call opce ale d\u00e1v\u00e1 nejv\u011bt\u0161\u00ed smysl tehdy, kdy\u017e je sou\u010d\u00e1st\u00ed p\u0159edem promy\u0161len\u00e9ho procesu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98cf9dd elementor-widget elementor-widget-heading\" data-id=\"98cf9dd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Jak za\u010d\u00edt s call opcemi bez chaosu?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bacf352 elementor-widget elementor-widget-text-editor\" data-id=\"bacf352\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Nej\u010dast\u011bj\u0161\u00ed probl\u00e9m u call opc\u00ed nevznik\u00e1 ze \u0161patn\u00e9ho sm\u011bru, ale z pozic otev\u0159en\u00fdch pozd\u011b, draze a bez sc\u00e9n\u00e1\u0159e \u2014 konkr\u00e9tn\u00ed opce se \u010dasto kupuje a\u017e po v\u00fdrazn\u00e9m r\u016fstu, kdy je pr\u00e9mie vysok\u00e1 a k break-even je d\u00e1l. Pom\u00e1h\u00e1 jedin\u00e9: m\u00edt p\u0159edem jasno, co a pro\u010d d\u011bl\u00e1\u0161.<\/p><p>Postup, kter\u00fd dr\u017e\u00ed:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8d3edff elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"8d3edff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>1.<\/strong> Nejd\u0159\u00edv pochop, co jsou opce obecn\u011b.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>2.<\/strong> Nau\u010d se rozd\u00edl mezi call a put opc\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>3.<\/strong> Pochop pojmy strike, expirace, pr\u00e9mie a break-even.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>4.<\/strong> Rozli\u0161uj n\u00e1kup call opce a vypisov\u00e1n\u00ed call opce \u2014 a covered call od nah\u00e9ho v\u00fdpisu.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>5.<\/strong> Neza\u010d\u00ednej re\u00e1ln\u00fdmi pen\u011bzi bez testov\u00e1n\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>6.<\/strong> Sleduj, jak se opce chov\u00e1 p\u0159i pohybu podkladu, zm\u011bn\u011b volatility a bl\u00ed\u017e\u00edc\u00ed se expiraci.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>7.<\/strong> Ve\u010f si obchodn\u00ed den\u00edk jako sou\u010d\u00e1st procesu.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><strong>8.<\/strong> Nepou\u017e\u00edvej call opce jen jako impulzivn\u00ed s\u00e1zku na r\u016fst.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f2bd34 elementor-widget elementor-widget-text-editor\" data-id=\"9f2bd34\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>K systematick\u00e9mu vstupu do t\u00e9matu vede \u010dl\u00e1nek <a href=\"\/cs\/blog\/obchodovani-opci\">Obchodov\u00e1n\u00ed opc\u00ed: jak za\u010d\u00edt bez chaosu<\/a> a \u0161ir\u0161\u00ed z\u00e1klad d\u00e1v\u00e1 <a href=\"\/cs\/blog\/trading-pro-zacatecniky\">Trading pro za\u010d\u00e1te\u010dn\u00edky<\/a>. Riziko a velikost pozice rozeb\u00edr\u00e1me v \u010dl\u00e1nc\u00edch <a href=\"\/cs\/blog\/risk-management-v-tradingu\">Risk management v tradingu<\/a> a <a href=\"\/cs\/blog\/money-management\">Money management v tradingu<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-045eca9 vb-cta elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"045eca9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tFounders (Full Ride)\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tPokud jsi rozhodnut\u00fd za\u010d\u00edt s tradingem systematicky, Founders (Full Ride) je hlavn\u00ed cesta, jak vstoupit do Volbeast p\u0159\u00edstupu naplno \u2014 strategie, \u0159\u00edzen\u00ed rizika, testov\u00e1n\u00ed a vyhodnocov\u00e1n\u00ed pohromad\u011b z\u00e1rove\u0148 s n\u00e1stroji a komunitou, t\u011b nenech\u00e1 st\u00e1t na m\u00edst\u011b.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/volbeast.com\/cs\/founders\">\n\t\t\t\t\t\tChci pln\u00fd p\u0159\u00edstup\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b89f56 elementor-widget elementor-widget-heading\" data-id=\"7b89f56\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Nej\u010dast\u011bj\u0161\u00ed chyby za\u010d\u00e1te\u010dn\u00edk\u016f u call opc\u00ed<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a530522 elementor-widget elementor-widget-text-editor\" data-id=\"a530522\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>U call opc\u00ed za\u010d\u00e1te\u010dn\u00edk neselh\u00e1v\u00e1 proto, \u017ee by j\u00ed nerozum\u011bl. Selh\u00e1v\u00e1 proto, \u017ee vynech\u00e1 proces.<\/p><p>Mezi \u010dast\u00e9 chyby pat\u0159\u00ed:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55d0914 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"55d0914\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">berou call opci jako jednoduchou s\u00e1zku na r\u016fst,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">ne\u0159e\u0161\u00ed expiraci,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">podce\u0148uj\u00ed \u010dasov\u00fd rozpad,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">nepo\u010d\u00edtaj\u00ed break-even,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">zaplat\u00ed p\u0159\u00edli\u0161 vysokou pr\u00e9mii,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">obchoduj\u00ed bez pl\u00e1nu v\u00fdstupu,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">kupuj\u00ed call opce impulzivn\u011b po r\u016fstu trhu,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">zam\u011b\u0148uj\u00ed n\u00e1kup a vypisov\u00e1n\u00ed call opce,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">vypisuj\u00ed nah\u00e9 call opce bez pochopen\u00ed neomezen\u00e9ho rizika,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">nevedou si den\u00edk,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">kop\u00edruj\u00ed pozice z internetu,<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-exclamation-triangle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">soust\u0159ed\u00ed se jen na mo\u017en\u00fd zisk a podce\u0148uj\u00ed riziko p\u0159i\u0159azen\u00ed.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20cb4c2 elementor-blockquote--skin-border elementor-widget elementor-widget-blockquote\" data-id=\"20cb4c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\tZa\u010d\u00e1te\u010dn\u00edk u call opc\u00ed v\u011bt\u0161inou nepot\u0159ebuje dal\u0161\u00ed predikci trhu. Pot\u0159ebuje pochopit sc\u00e9n\u00e1\u0159, riziko a proces.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c8a62d9 elementor-widget elementor-widget-text-editor\" data-id=\"c8a62d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Velk\u00e1 \u010d\u00e1st t\u011bch chyb je psychologick\u00e1 \u2014 koupit v euforii po r\u016fstu, dr\u017eet ztr\u00e1tov\u00fd obchod ze vzdoru. Pro\u010d se to d\u011bje a jak s t\u00edm pracovat, rozeb\u00edr\u00e1 <a href=\"\/cs\/blog\/psychologie-tradingu\">Psychologie tradingu<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2c1c09 elementor-widget elementor-widget-heading\" data-id=\"f2c1c09\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Shrnut\u00ed<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9cf87d9 e-con-full vb-summary e-flex e-con e-child\" data-id=\"9cf87d9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f6421ca elementor-widget elementor-widget-text-editor\" data-id=\"f6421ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce je pr\u00e1vo koupit podkladov\u00e9 aktivum za p\u0159edem danou cenu do ur\u010dit\u00e9ho data. Nen\u00ed to s\u00e1zka na r\u016fst, je to n\u00e1stroj.<\/p><p>Call opce d\u00e1v\u00e1 pr\u00e1vo koupit podklad za p\u0159edem danou cenu, ale jej\u00ed v\u00fdsledek neur\u010duje jen sm\u011br trhu. Rozhoduje tak\u00e9 zaplacen\u00e1 pr\u00e9mie, \u010das do expirace, volatilita, break-even a zp\u016fsob, jak\u00fdm je pozice \u0159\u00edzen\u00e1.<\/p><p>Stru\u010dn\u011b, co si odn\u00e9st:<\/p><ul><li>Call opce d\u00e1v\u00e1 kupuj\u00edc\u00edmu pr\u00e1vo koupit, ne povinnost.<\/li><li>\u010casto se pou\u017e\u00edv\u00e1 p\u0159i o\u010dek\u00e1v\u00e1n\u00ed r\u016fstu nebo k efektivn\u011bj\u0161\u00ed pr\u00e1ci s kapit\u00e1lem.<\/li><li>U koupen\u00e9 call opce je maxim\u00e1ln\u00ed ztr\u00e1ta zaplacen\u00e1 pr\u00e9mie.<\/li><li>U vypsan\u00e9 call opce inkasuje\u0161 pr\u00e9mii, ale p\u0159ij\u00edm\u00e1\u0161 povinnost prodat podklad \u2014 a nah\u00fd v\u00fdpis m\u00e1 teoreticky neomezenou ztr\u00e1tu.<\/li><li>Break-even je strike cena plus pr\u00e9mie \u2014 \u0159\u00edk\u00e1 ti, jak velk\u00fd r\u016fst opravdu pot\u0159ebuje\u0161.<\/li><li>Roli hraje strike, expirace, pr\u00e9mie, volatilita i \u010das \u2014 ne jen sm\u011br.<\/li><li>Call opce nen\u00ed pl\u00e1n sama o sob\u011b. Je to n\u00e1stroj, kter\u00fd pot\u0159ebuje pravidla.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-250a039 vb-cta elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"250a039\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tFree Ride\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tChce\u0161 vid\u011bt Volbeast p\u0159\u00edstup k opc\u00edm v praxi? Free Ride jsou 3 lekce zdarma \u2014 uk\u00e1\u017eou ti, jak p\u0159em\u00fd\u0161l\u00edme o sc\u00e9n\u00e1\u0159\u00edch, riziku a rozhodov\u00e1n\u00ed, bez z\u00e1vazku. A a\u017e bude\u0161 cht\u00edt j\u00edt naplno, Founders (Full Ride) je hlavn\u00ed cesta do cel\u00e9ho syst\u00e9mu.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/volbeast.com\/cs\/free-ride\">\n\t\t\t\t\t\tSpustit Free Ride\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-181c2fb elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"181c2fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e8382be elementor-widget elementor-widget-heading\" data-id=\"e8382be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FAQ<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05f8fa1 vb-faq elementor-widget elementor-widget-n-accordion\" data-id=\"05f8fa1\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6260\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6260\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Co je call opce? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6260\" class=\"elementor-element elementor-element-c7b5b7b e-con-full e-flex e-con e-child\" data-id=\"c7b5b7b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7782154 vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"7782154\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce je op\u010dn\u00ed kontrakt, kter\u00fd d\u00e1v\u00e1 kupuj\u00edc\u00edmu pr\u00e1vo koupit podkladov\u00e9 aktivum za p\u0159edem stanovenou cenu do ur\u010dit\u00e9ho data. Kupuj\u00edc\u00ed za toto pr\u00e1vo plat\u00ed pr\u00e9mii a nem\u00e1 povinnost ho vyu\u017e\u00edt. Vypisovatel call opce naopak p\u0159ij\u00edm\u00e1 povinnost podklad prodat (dodat), pokud dojde k p\u0159i\u0159azen\u00ed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6261\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6261\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Jak funguje call opce? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6261\" class=\"elementor-element elementor-element-77af405 e-con-full e-flex e-con e-child\" data-id=\"77af405\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1f6d203 vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"1f6d203\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce z\u00edsk\u00e1v\u00e1 hodnotu hlavn\u011b tehdy, kdy\u017e cena podkladov\u00e9ho aktiva roste nad strike cenu. V\u00fdsledek obchodu ale ovliv\u0148uje i zaplacen\u00e1 pr\u00e9mie, expirace, \u010dasov\u00fd rozpad a volatilita. Proto nesta\u010d\u00ed jen odhadnout sm\u011br \u2014 d\u016fle\u017eit\u00e1 je i velikost a na\u010dasov\u00e1n\u00ed pohybu v\u016f\u010di break-even bodu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6262\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6262\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Kdy call opce vyd\u011bl\u00e1v\u00e1? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6262\" class=\"elementor-element elementor-element-49561b9 e-con-full e-flex e-con e-child\" data-id=\"49561b9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-731eb0c vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"731eb0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Koupen\u00e1 call opce m\u016f\u017ee vyd\u011bl\u00e1vat, pokud podkladov\u00e9 aktivum dostate\u010dn\u011b vyroste. P\u0159i expiraci je kl\u00ed\u010dov\u00e9, aby se cena dostala nad break-even bod, tedy strike cenu plus zaplacenou pr\u00e9mii. Pokud podklad vyroste jen m\u00edrn\u011b nebo p\u0159\u00edli\u0161 pozd\u011b, obchod m\u016f\u017ee skon\u010dit ve ztr\u00e1t\u011b i p\u0159es spr\u00e1vn\u011b odhadnut\u00fd sm\u011br.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6263\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"4\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6263\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Jak\u00fd je rozd\u00edl mezi call a put opc\u00ed? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6263\" class=\"elementor-element elementor-element-d94fb42 e-con-full e-flex e-con e-child\" data-id=\"d94fb42\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-02b99ed vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"02b99ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Call opce d\u00e1v\u00e1 kupuj\u00edc\u00edmu pr\u00e1vo koupit podkladov\u00e9 aktivum za strike cenu. Put opce d\u00e1v\u00e1 pr\u00e1vo podkladov\u00e9 aktivum prodat. Zjednodu\u0161en\u011b se call opce pou\u017e\u00edv\u00e1 p\u0159i o\u010dek\u00e1v\u00e1n\u00ed r\u016fstu a put opce p\u0159i o\u010dek\u00e1v\u00e1n\u00ed poklesu, ale v\u017edy z\u00e1le\u017e\u00ed tak\u00e9 na pr\u00e9mii, expiraci, volatilit\u011b a break-even bodu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6264\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"5\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6264\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Co znamen\u00e1 n\u00e1kup call opce? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6264\" class=\"elementor-element elementor-element-2956d1c e-con-full e-flex e-con e-child\" data-id=\"2956d1c\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0d1ebfd vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"0d1ebfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>N\u00e1kup call opce znamen\u00e1, \u017ee trader plat\u00ed pr\u00e9mii a z\u00edsk\u00e1v\u00e1 pr\u00e1vo koupit podklad za p\u0159edem danou cenu. Pou\u017e\u00edv\u00e1 se hlavn\u011b p\u0159i o\u010dek\u00e1v\u00e1n\u00ed r\u016fstu nebo pro expozici na pohyb s ni\u017e\u0161\u00edm vstupn\u00edm kapit\u00e1lem. Maxim\u00e1ln\u00ed ztr\u00e1ta u jednoduch\u00e9ho n\u00e1kupu je zaplacen\u00e1 pr\u00e9mie.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6265\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"6\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6265\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Co znamen\u00e1 vypisov\u00e1n\u00ed call opce? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6265\" class=\"elementor-element elementor-element-5873a85 e-con-full e-flex e-con e-child\" data-id=\"5873a85\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-44cb160 vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"44cb160\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Vypisov\u00e1n\u00ed call opce znamen\u00e1, \u017ee trader inkasuje pr\u00e9mii, ale p\u0159ij\u00edm\u00e1 povinnost prodat (dodat) podkladov\u00e9 aktivum za strike cenu, pokud dojde k p\u0159i\u0159azen\u00ed. U kryt\u00e9ho v\u00fdpisu (covered call) akcie vlastn\u00ed; u nah\u00e9ho v\u00fdpisu je nevlastn\u00ed a riziko je teoreticky neomezen\u00e9.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6266\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"7\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6266\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Je call opce vhodn\u00e1 pro za\u010d\u00e1te\u010dn\u00edky? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6266\" class=\"elementor-element elementor-element-e778471 e-con-full e-flex e-con e-child\" data-id=\"e778471\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0bfa8ce vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"0bfa8ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Jako t\u00e9ma ke studiu ano \u2014 call opce dob\u0159e ukazuje, jak spolu souvis\u00ed cena podkladu, \u010das a pr\u00e9mie. Pro re\u00e1ln\u00e9 obchodov\u00e1n\u00ed ale pot\u0159ebuje\u0161 ch\u00e1pat break-even, \u010dasov\u00fd rozpad a hlavn\u011b rozd\u00edl mezi koup\u00ed call opce a jej\u00edm vypisov\u00e1n\u00edm (zvl\u00e1\u0161\u0165 nah\u00fdm v\u00fdpisem, kter\u00fd m\u00e1 neomezen\u00e9 riziko). Bez pl\u00e1nu a nane\u010disto vyzkou\u0161en\u00e9ho postupu je lep\u0161\u00ed s re\u00e1ln\u00fdmi pen\u011bzi neza\u010d\u00ednat.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6267\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"8\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6267\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> M\u016f\u017eu u call opce p\u0159ij\u00edt o pen\u00edze? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6267\" class=\"elementor-element elementor-element-0386e5a e-con-full e-flex e-con e-child\" data-id=\"0386e5a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-756667a vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"756667a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Ano. U koupen\u00e9 call opce m\u016f\u017ee\u0161 p\u0159ij\u00edt o celou zaplacenou pr\u00e9mii, pokud opce expiruje bezcenn\u00e1. U vypsan\u00e9 call opce je riziko vy\u0161\u0161\u00ed a u nah\u00e9ho v\u00fdpisu (bez vlastnictv\u00ed akci\u00ed) je ztr\u00e1ta teoreticky neomezen\u00e1, proto\u017ee cena podkladu m\u016f\u017ee r\u016fst bez horn\u00ed hranice.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6268\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"9\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6268\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Co je break-even u call opce? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6268\" class=\"elementor-element elementor-element-3423733 e-con-full e-flex e-con e-child\" data-id=\"3423733\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ba38e9a vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"ba38e9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Break-even u koupen\u00e9 call opce je strike cena plus zaplacen\u00e1 pr\u00e9mie. Pokud je strike cena 105 USD a pr\u00e9mie 2 USD, break-even je 107 USD. To znamen\u00e1, \u017ee p\u0159i expiraci mus\u00ed b\u00fdt podklad nad 107 USD, aby byl obchod ziskov\u00fd p\u0159ed zapo\u010dten\u00edm poplatk\u016f.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6269\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"10\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6269\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h3 class=\"e-n-accordion-item-title-text\"> Co je covered call? <\/h3><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"fas fa-plus\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6269\" class=\"elementor-element elementor-element-9e0aef9 e-con-full e-flex e-con e-child\" data-id=\"9e0aef9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-acde678 vb-faq-answer elementor-widget elementor-widget-text-editor\" data-id=\"acde678\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Covered call je op\u010dn\u00ed kombinace, p\u0159i kter\u00e9 vypisuje\u0161 call opci proti akci\u00edm, kter\u00e9 u\u017e vlastn\u00ed\u0161. Inkasuje\u0161 pr\u00e9mii a v\u00fdm\u011bnou se zavazuje\u0161 prodat akcie za strike cenu, pokud cena vyroste a dojde k p\u0159i\u0159azen\u00ed. Samotn\u00e1 kombinace ale je\u0161t\u011b nen\u00ed strategie \u2014 tou se covered call st\u00e1v\u00e1 a\u017e s obchodn\u00edm pl\u00e1nem, \u0159\u00edzen\u00edm rizika a money managementem: kdy\u017e v\u00ed\u0161, pro\u010d pozici otev\u00edr\u00e1\u0161, kolik riskuje\u0161 a co ud\u011bl\u00e1\u0161, kdy\u017e se sc\u00e9n\u00e1\u0159 nenapln\u00ed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Co je call opce?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Call opce je op\\u010dn\\u00ed kontrakt, kter\\u00fd d\\u00e1v\\u00e1 kupuj\\u00edc\\u00edmu pr\\u00e1vo koupit podkladov\\u00e9 aktivum za p\\u0159edem stanovenou cenu do ur\\u010dit\\u00e9ho data. Kupuj\\u00edc\\u00ed za toto pr\\u00e1vo plat\\u00ed pr\\u00e9mii a nem\\u00e1 povinnost ho vyu\\u017e\\u00edt. Vypisovatel call opce naopak p\\u0159ij\\u00edm\\u00e1 povinnost podklad prodat (dodat), pokud dojde k p\\u0159i\\u0159azen\\u00ed.\"}},{\"@type\":\"Question\",\"name\":\"Jak funguje call opce?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Call opce z\\u00edsk\\u00e1v\\u00e1 hodnotu hlavn\\u011b tehdy, kdy\\u017e cena podkladov\\u00e9ho aktiva roste nad strike cenu. V\\u00fdsledek obchodu ale ovliv\\u0148uje i zaplacen\\u00e1 pr\\u00e9mie, expirace, \\u010dasov\\u00fd rozpad a volatilita. Proto nesta\\u010d\\u00ed jen odhadnout sm\\u011br \\u2014 d\\u016fle\\u017eit\\u00e1 je i velikost a na\\u010dasov\\u00e1n\\u00ed pohybu v\\u016f\\u010di break-even bodu.\"}},{\"@type\":\"Question\",\"name\":\"Kdy call opce vyd\\u011bl\\u00e1v\\u00e1?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Koupen\\u00e1 call opce m\\u016f\\u017ee vyd\\u011bl\\u00e1vat, pokud podkladov\\u00e9 aktivum dostate\\u010dn\\u011b vyroste. P\\u0159i expiraci je kl\\u00ed\\u010dov\\u00e9, aby se cena dostala nad break-even bod, tedy strike cenu plus zaplacenou pr\\u00e9mii. Pokud podklad vyroste jen m\\u00edrn\\u011b nebo p\\u0159\\u00edli\\u0161 pozd\\u011b, obchod m\\u016f\\u017ee skon\\u010dit ve ztr\\u00e1t\\u011b i p\\u0159es spr\\u00e1vn\\u011b odhadnut\\u00fd sm\\u011br.\"}},{\"@type\":\"Question\",\"name\":\"Jak\\u00fd je rozd\\u00edl mezi call a put opc\\u00ed?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Call opce d\\u00e1v\\u00e1 kupuj\\u00edc\\u00edmu pr\\u00e1vo koupit podkladov\\u00e9 aktivum za strike cenu. Put opce d\\u00e1v\\u00e1 pr\\u00e1vo podkladov\\u00e9 aktivum prodat. Zjednodu\\u0161en\\u011b se call opce pou\\u017e\\u00edv\\u00e1 p\\u0159i o\\u010dek\\u00e1v\\u00e1n\\u00ed r\\u016fstu a put opce p\\u0159i o\\u010dek\\u00e1v\\u00e1n\\u00ed poklesu, ale v\\u017edy z\\u00e1le\\u017e\\u00ed tak\\u00e9 na pr\\u00e9mii, expiraci, volatilit\\u011b a break-even bodu.\"}},{\"@type\":\"Question\",\"name\":\"Co znamen\\u00e1 n\\u00e1kup call opce?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"N\\u00e1kup call opce znamen\\u00e1, \\u017ee trader plat\\u00ed pr\\u00e9mii a z\\u00edsk\\u00e1v\\u00e1 pr\\u00e1vo koupit podklad za p\\u0159edem danou cenu. Pou\\u017e\\u00edv\\u00e1 se hlavn\\u011b p\\u0159i o\\u010dek\\u00e1v\\u00e1n\\u00ed r\\u016fstu nebo pro expozici na pohyb s ni\\u017e\\u0161\\u00edm vstupn\\u00edm kapit\\u00e1lem. Maxim\\u00e1ln\\u00ed ztr\\u00e1ta u jednoduch\\u00e9ho n\\u00e1kupu je zaplacen\\u00e1 pr\\u00e9mie.\"}},{\"@type\":\"Question\",\"name\":\"Co znamen\\u00e1 vypisov\\u00e1n\\u00ed call opce?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vypisov\\u00e1n\\u00ed call opce znamen\\u00e1, \\u017ee trader inkasuje pr\\u00e9mii, ale p\\u0159ij\\u00edm\\u00e1 povinnost prodat (dodat) podkladov\\u00e9 aktivum za strike cenu, pokud dojde k p\\u0159i\\u0159azen\\u00ed. U kryt\\u00e9ho v\\u00fdpisu (covered call) akcie vlastn\\u00ed; u nah\\u00e9ho v\\u00fdpisu je nevlastn\\u00ed a riziko je teoreticky neomezen\\u00e9.\"}},{\"@type\":\"Question\",\"name\":\"Je call opce vhodn\\u00e1 pro za\\u010d\\u00e1te\\u010dn\\u00edky?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Jako t\\u00e9ma ke studiu ano \\u2014 call opce dob\\u0159e ukazuje, jak spolu souvis\\u00ed cena podkladu, \\u010das a pr\\u00e9mie. Pro re\\u00e1ln\\u00e9 obchodov\\u00e1n\\u00ed ale pot\\u0159ebuje\\u0161 ch\\u00e1pat break-even, \\u010dasov\\u00fd rozpad a hlavn\\u011b rozd\\u00edl mezi koup\\u00ed call opce a jej\\u00edm vypisov\\u00e1n\\u00edm (zvl\\u00e1\\u0161\\u0165 nah\\u00fdm v\\u00fdpisem, kter\\u00fd m\\u00e1 neomezen\\u00e9 riziko). Bez pl\\u00e1nu a nane\\u010disto vyzkou\\u0161en\\u00e9ho postupu je lep\\u0161\\u00ed s re\\u00e1ln\\u00fdmi pen\\u011bzi neza\\u010d\\u00ednat.\"}},{\"@type\":\"Question\",\"name\":\"M\\u016f\\u017eu u call opce p\\u0159ij\\u00edt o pen\\u00edze?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ano. U koupen\\u00e9 call opce m\\u016f\\u017ee\\u0161 p\\u0159ij\\u00edt o celou zaplacenou pr\\u00e9mii, pokud opce expiruje bezcenn\\u00e1. U vypsan\\u00e9 call opce je riziko vy\\u0161\\u0161\\u00ed a u nah\\u00e9ho v\\u00fdpisu (bez vlastnictv\\u00ed akci\\u00ed) je ztr\\u00e1ta teoreticky neomezen\\u00e1, proto\\u017ee cena podkladu m\\u016f\\u017ee r\\u016fst bez horn\\u00ed hranice.\"}},{\"@type\":\"Question\",\"name\":\"Co je break-even u call opce?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Break-even u koupen\\u00e9 call opce je strike cena plus zaplacen\\u00e1 pr\\u00e9mie. Pokud je strike cena 105 USD a pr\\u00e9mie 2 USD, break-even je 107 USD. To znamen\\u00e1, \\u017ee p\\u0159i expiraci mus\\u00ed b\\u00fdt podklad nad 107 USD, aby byl obchod ziskov\\u00fd p\\u0159ed zapo\\u010dten\\u00edm poplatk\\u016f.\"}},{\"@type\":\"Question\",\"name\":\"Co je covered call?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Covered call je op\\u010dn\\u00ed kombinace, p\\u0159i kter\\u00e9 vypisuje\\u0161 call opci proti akci\\u00edm, kter\\u00e9 u\\u017e vlastn\\u00ed\\u0161. Inkasuje\\u0161 pr\\u00e9mii a v\\u00fdm\\u011bnou se zavazuje\\u0161 prodat akcie za strike cenu, pokud cena vyroste a dojde k p\\u0159i\\u0159azen\\u00ed. Samotn\\u00e1 kombinace ale je\\u0161t\\u011b nen\\u00ed strategie \\u2014 tou se covered call st\\u00e1v\\u00e1 a\\u017e s obchodn\\u00edm pl\\u00e1nem, \\u0159\\u00edzen\\u00edm rizika a money managementem: kdy\\u017e v\\u00ed\\u0161, pro\\u010d pozici otev\\u00edr\\u00e1\\u0161, kolik riskuje\\u0161 a co ud\\u011bl\\u00e1\\u0161, kdy\\u017e se sc\\u00e9n\\u00e1\\u0159 nenapln\\u00ed.\"}}]}<\/script>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c54a15f elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"c54a15f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d926941 vb-toc-exclude elementor-widget elementor-widget-heading\" data-id=\"d926941\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Disclaimer<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-40ed5cd e-con-full vb-disclaimer e-flex e-con e-child\" data-id=\"40ed5cd\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fe5d90a elementor-widget elementor-widget-text-editor\" data-id=\"fe5d90a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tento obsah slou\u017e\u00ed pouze pro vzd\u011bl\u00e1vac\u00ed \u00fa\u010dely a nep\u0159edstavuje investi\u010dn\u00ed doporu\u010den\u00ed. Trading a obchodov\u00e1n\u00ed opc\u00ed jsou rizikov\u00e9 a mohou v\u00e9st ke ztr\u00e1t\u011b kapit\u00e1lu. Ne\u017e za\u010dne\u0161 obchodovat s re\u00e1ln\u00fdmi pen\u011bzi, ujisti se, \u017ee rozum\u00ed\u0161 rizik\u016fm konkr\u00e9tn\u00ed op\u010dn\u00ed pozice, pravidl\u016fm vstupu a v\u00fdstupu, \u0159\u00edzen\u00ed rizika a cel\u00e9mu obchodn\u00edmu procesu.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Zjisti, co je call opce, jak funguje n\u00e1kup a vypisov\u00e1n\u00ed call opce, kdy ji trade\u0159i pou\u017e\u00edvaj\u00ed a jak\u00e1 rizika mus\u00ed\u0161 zn\u00e1t p\u0159ed obchodov\u00e1n\u00edm.<\/p>\n","protected":false},"author":11,"featured_media":32144,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_surecart_dashboard_logo_width":"180px","_surecart_dashboard_show_logo":true,"_surecart_dashboard_navigation_orders":true,"_surecart_dashboard_navigation_invoices":true,"_surecart_dashboard_navigation_subscriptions":true,"_surecart_dashboard_navigation_downloads":true,"_surecart_dashboard_navigation_billing":true,"_surecart_dashboard_navigation_account":true,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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