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	<id>https://estudos.sintaxes.com.br/index.php?action=history&amp;feed=atom&amp;title=Estrategia_TRAVA_DE_BAIXA</id>
	<title>Estrategia TRAVA DE BAIXA - Revision history</title>
	<link rel="self" type="application/atom+xml" href="https://estudos.sintaxes.com.br/index.php?action=history&amp;feed=atom&amp;title=Estrategia_TRAVA_DE_BAIXA"/>
	<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;action=history"/>
	<updated>2026-06-05T15:37:32Z</updated>
	<subtitle>Revision history for this page on the wiki</subtitle>
	<generator>MediaWiki 1.39.5</generator>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=175&amp;oldid=prev</id>
		<title>Malloc: /* PAYOFF */</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=175&amp;oldid=prev"/>
		<updated>2025-04-15T04:18:58Z</updated>

		<summary type="html">&lt;p&gt;&lt;span dir=&quot;auto&quot;&gt;&lt;span class=&quot;autocomment&quot;&gt;PAYOFF&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 04:18, 15 April 2025&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l21&quot;&gt;Line 21:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 21:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Arquivo&lt;/del&gt;:TravaBaixa.png|esquerda]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;File&lt;/ins&gt;:TravaBaixa.png|esquerda]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=168&amp;oldid=prev</id>
		<title>Malloc: /* PAYOFF */</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=168&amp;oldid=prev"/>
		<updated>2025-04-15T04:04:46Z</updated>

		<summary type="html">&lt;p&gt;&lt;span dir=&quot;auto&quot;&gt;&lt;span class=&quot;autocomment&quot;&gt;PAYOFF&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 04:04, 15 April 2025&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l21&quot;&gt;Line 21:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 21:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;|miniaturadaimagem&lt;/del&gt;]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=159&amp;oldid=prev</id>
		<title>Malloc: /* ESTRATÉGIAS DE TESOURARIAS */</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=159&amp;oldid=prev"/>
		<updated>2023-12-03T12:37:32Z</updated>

		<summary type="html">&lt;p&gt;&lt;span dir=&quot;auto&quot;&gt;&lt;span class=&quot;autocomment&quot;&gt;ESTRATÉGIAS DE TESOURARIAS&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:37, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l17&quot;&gt;Line 17:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 17:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039; (quando está muito dentro do dinheiro [ &amp;#039;&amp;#039;&amp;#039;[[Dicionario ITM|ITM]]&amp;#039;&amp;#039;&amp;#039; ] . &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039; (quando está muito dentro do dinheiro [ &amp;#039;&amp;#039;&amp;#039;[[Dicionario ITM|ITM]]&amp;#039;&amp;#039;&amp;#039; ] . &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;[[O que e uma call|&lt;/ins&gt;CALL&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;]]&lt;/ins&gt;&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=158&amp;oldid=prev</id>
		<title>Malloc at 12:36, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=158&amp;oldid=prev"/>
		<updated>2023-12-03T12:36:49Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
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				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:36, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l17&quot;&gt;Line 17:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 17:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039; (quando está muito dentro do dinheiro [ &amp;#039;&amp;#039;&amp;#039;[[Dicionario ITM|ITM]]&amp;#039;&amp;#039;&amp;#039; ] . &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039; (quando está muito dentro do dinheiro [ &amp;#039;&amp;#039;&amp;#039;[[Dicionario ITM|ITM]]&amp;#039;&amp;#039;&amp;#039; ] . &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;19&lt;/del&gt;,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;17&lt;/ins&gt;,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=157&amp;oldid=prev</id>
		<title>Malloc at 12:36, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=157&amp;oldid=prev"/>
		<updated>2023-12-03T12:36:06Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:36, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l6&quot;&gt;Line 6:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 6:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|-&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|-&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;QUANDO É UTILIZADA:&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;QUANDO É UTILIZADA:&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;OPRAÇÃO DIRECIONAL /  &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;DEPOIS DE GRANDES ALTAS / &lt;/del&gt;PROTEÇÃO DE QUEDAS&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;OPRAÇÃO DIRECIONAL /  PROTEÇÃO DE QUEDAS&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|-&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|-&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;TIPO DE OPÇÃO&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|&amp;#039;&amp;#039;&amp;#039;TIPO DE OPÇÃO&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=156&amp;oldid=prev</id>
		<title>Malloc at 12:35, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=156&amp;oldid=prev"/>
		<updated>2023-12-03T12:35:35Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:35, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l15&quot;&gt;Line 15:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 15:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039;. &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; (3 centavos é muito pouco), provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario Intrínsico|intrínsico]]&amp;#039;&amp;#039;&amp;#039; &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;(quando está muito dentro do dinheiro [ &amp;#039;&amp;#039;&amp;#039;[[Dicionario ITM|ITM]]&amp;#039;&amp;#039;&amp;#039; ] &lt;/ins&gt;. &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; estará provavelmente &amp;#039;&amp;#039;&amp;#039;R$4,99 / R$4,98&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=155&amp;oldid=prev</id>
		<title>Malloc at 12:34, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=155&amp;oldid=prev"/>
		<updated>2023-12-03T12:34:31Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
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				&lt;col class=&quot;diff-content&quot; /&gt;
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				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:34, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l15&quot;&gt;Line 15:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 15:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot;, provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Extrínsico&lt;/del&gt;|&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;extrínsico&lt;/del&gt;]]&amp;#039;&amp;#039;&amp;#039;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &lt;/del&gt;&amp;#039;&amp;#039;&amp;#039;+M20 &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;-M18&lt;/del&gt;&amp;#039;&amp;#039;&amp;#039; &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= custo ~ &lt;/del&gt;&amp;#039;&amp;#039;&amp;#039;R$ &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;0&lt;/del&gt;,&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;&lt;/del&gt;R$&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;2&lt;/del&gt;,&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;00&lt;/del&gt;&amp;#039;&amp;#039;&amp;#039; &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;você compra mais papel aumentando seu portfolio.&lt;/del&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; vale &amp;#039;&amp;#039;&amp;#039;R$5,00&amp;#039;&amp;#039;&amp;#039; e &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; teoricamente vale &amp;#039;&amp;#039;&amp;#039;R$3,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; porém está tendo negócio na &amp;#039;&amp;#039;&amp;#039;-M18&amp;#039;&amp;#039;&amp;#039; por p.e. &amp;#039;&amp;#039;&amp;#039;R$3,03 / R$3,05&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Quando tivermos um &amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|extrínsico]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;seco&amp;quot; &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;(3 centavos é muito pouco)&lt;/ins&gt;, provavelmente a &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; esterá um pouco abaixo do &amp;#039;&amp;#039;&amp;#039;[[Dicionario &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Intrínsico&lt;/ins&gt;|&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;intrínsico&lt;/ins&gt;]]&amp;#039;&amp;#039;&amp;#039;. &amp;#039;&amp;#039;&amp;#039;+M20&amp;#039;&amp;#039;&amp;#039; &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;estará provavelmente &lt;/ins&gt;&amp;#039;&amp;#039;&amp;#039;R$&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;4&lt;/ins&gt;,&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;99 / &lt;/ins&gt;R$&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;4&lt;/ins&gt;,&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;98&lt;/ins&gt;&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Imagine que você está em um ativo que está &#039;&#039;&#039;R$19,00&#039;&#039;&#039; e este ativo foi até &#039;&#039;&#039;R$22,00&#039;&#039;&#039;.&amp;lt;br&gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &#039;&#039;&#039;[[O que e uma call|-CALL]]&#039;&#039;&#039; bem dentro do dinheiro (&#039;&#039;&#039;ITM&#039;&#039;&#039;) [ &#039;&#039;&#039;-CALL&#039;&#039;&#039; &#039;&#039;&#039;R$19,00&#039;&#039;&#039; / &#039;&#039;&#039;R$18,00&#039;&#039;&#039; ]&amp;lt;br&gt;&amp;lt;br&gt;Suponha que você tenha uma meta de entrega do ativo no &#039;&#039;&#039;R$24,00&#039;&#039;&#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&gt;&amp;lt;br&gt;Neste caso você venderia uma &#039;&#039;&#039;[[O que e uma call|-CALL]]&#039;&#039;&#039; do &#039;&#039;&#039;R$24,00&#039;&#039;&#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&gt;&amp;lt;br&gt;[ &#039;&#039;&#039;+M20 -M18&#039;&#039;&#039; = custo ~ &#039;&#039;&#039;R$ 0,50&#039;&#039;&#039; ]&amp;lt;br&gt;Neste caso se o mercado continuar subindo você recebe &#039;&#039;&#039;R$24,00&#039;&#039;&#039;. &amp;lt;br&gt;&amp;lt;br&gt;Se o mercado cair abaixo de &#039;&#039;&#039;R$17,00&#039;&#039;&#039; p.e. esta TB lhe paga &#039;&#039;&#039;R$2,00&#039;&#039;&#039; e você continua com o seu papel livre. Com este estes &#039;&#039;&#039;R$2,00&#039;&#039;&#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&gt;&amp;lt;br&gt;Esta operação em que você vende uma &#039;&#039;&#039;-CALL&#039;&#039;&#039; e monta uma TRAVA de BAIXA chama-se &#039;&#039;&#039;[[Estrategias Fence|Fence]]&#039;&#039;&#039;.&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=154&amp;oldid=prev</id>
		<title>Malloc at 12:32, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=154&amp;oldid=prev"/>
		<updated>2023-12-03T12:32:55Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
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				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:32, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l15&quot;&gt;Line 15:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 15:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a +M20 vale R$5,00 e -M18 teoricamente vale &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt; &lt;/del&gt;R$3,00&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na +M20 porém está tendo negócio na -M18 por p.e. R$3,03 / R$3,05&amp;lt;br&amp;gt; Quando tivermos um extrínsico seco, provavelmente a +M20 esterá um pouco abaixo do extrínsico.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; Como desmontar?&amp;lt;br&amp;gt;Teoricamente a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;+M20&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;vale &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;R$5,00&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;e &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;-M18&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;teoricamente vale &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;R$3,00&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;+M20&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;porém está tendo negócio na &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;-M18&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;por p.e. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;R$3,03 / R$3,05&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;&amp;lt;br&amp;gt;Quando tivermos um &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|&lt;/ins&gt;extrínsico&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;]]&amp;#039;&amp;#039;&amp;#039; &amp;quot;&lt;/ins&gt;seco&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;quot;&lt;/ins&gt;, provavelmente a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;+M20&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;esterá um pouco abaixo do &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;[[Dicionario Extrínsico|&lt;/ins&gt;extrínsico&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;]]&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=153&amp;oldid=prev</id>
		<title>Malloc at 12:31, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=153&amp;oldid=prev"/>
		<updated>2023-12-03T12:31:43Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:31, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l15&quot;&gt;Line 15:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 15:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&amp;#039;&amp;#039;&amp;#039;[ +M20 -M18 ]&amp;#039;&amp;#039;&amp;#039; supondo que o ativo está a &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &amp;#039;&amp;#039;&amp;#039;R$15,00&amp;#039;&amp;#039;&amp;#039; &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Como desmontar?&amp;lt;br&amp;gt;Teoricamente a +M20 vale R$5,00 e -M18 teoricamente vale  R$3,00&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponmha que não tenha negócios na +M20 porém está tendo negócio na -M18 por p.e. R$3,03 / R$3,05&amp;lt;br&amp;gt; Quando tivermos um extrínsico seco, provavelmente a +M20 esterá um pouco abaixo do extrínsico.&amp;lt;br&amp;gt;&lt;/ins&gt;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
	<entry>
		<id>https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=152&amp;oldid=prev</id>
		<title>Malloc at 12:27, 3 December 2023</title>
		<link rel="alternate" type="text/html" href="https://estudos.sintaxes.com.br/index.php?title=Estrategia_TRAVA_DE_BAIXA&amp;diff=152&amp;oldid=prev"/>
		<updated>2023-12-03T12:27:31Z</updated>

		<summary type="html">&lt;p&gt;&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;col class=&quot;diff-marker&quot; /&gt;
				&lt;col class=&quot;diff-content&quot; /&gt;
				&lt;tr class=&quot;diff-title&quot; lang=&quot;en&quot;&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 12:27, 3 December 2023&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l15&quot;&gt;Line 15:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 15:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;COM CALL VOCÊ RECEBE DINHEIRO MAS SE DER ERRADO  A PERDA É ILIMITADA&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;[ +M20 -M18 ] supondo que o ativo está a R$22,00&amp;lt;br&amp;gt;Porém imagina que o ativa caia para R$15,00&amp;lt;br&amp;gt; Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;  Quando apostamos na baixa.&amp;lt;br&amp;gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;[ +M20 -M18 ]&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039; &lt;/ins&gt;supondo que o ativo está a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;R$22,00&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;&amp;lt;br&amp;gt;Porém imagina que o ativa caia para &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;R$15,00&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;#039;&amp;#039;&amp;#039;&lt;/ins&gt;&amp;lt;br&amp;gt;Imagine que você está em um ativo que está &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; e este ativo foi até &amp;#039;&amp;#039;&amp;#039;R$22,00&amp;#039;&amp;#039;&amp;#039;.&amp;lt;br&amp;gt;Você gostaria de vende-lo porém proteger na queda.&amp;lt;br&amp;gt;Uma das coisas que poderiam ser feitas seria -VENDER uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; bem dentro do dinheiro (&amp;#039;&amp;#039;&amp;#039;ITM&amp;#039;&amp;#039;&amp;#039;) [ &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; &amp;#039;&amp;#039;&amp;#039;R$19,00&amp;#039;&amp;#039;&amp;#039; / &amp;#039;&amp;#039;&amp;#039;R$18,00&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Suponha que você tenha uma meta de entrega do ativo no &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. Neste valor você gostaria de entregar o ativo.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Neste caso você venderia uma &amp;#039;&amp;#039;&amp;#039;[[O que e uma call|-CALL]]&amp;#039;&amp;#039;&amp;#039; do &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;, e junto a isso você faria uma trava de baixa (TB).&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;[ &amp;#039;&amp;#039;&amp;#039;+M20 -M18&amp;#039;&amp;#039;&amp;#039; = custo ~ &amp;#039;&amp;#039;&amp;#039;R$ 0,50&amp;#039;&amp;#039;&amp;#039; ]&amp;lt;br&amp;gt;Neste caso se o mercado continuar subindo você recebe &amp;#039;&amp;#039;&amp;#039;R$24,00&amp;#039;&amp;#039;&amp;#039;. &amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Se o mercado cair abaixo de &amp;#039;&amp;#039;&amp;#039;R$17,00&amp;#039;&amp;#039;&amp;#039; p.e. esta TB lhe paga &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; e você continua com o seu papel livre. Com este estes &amp;#039;&amp;#039;&amp;#039;R$2,00&amp;#039;&amp;#039;&amp;#039; você compra mais papel aumentando seu portfolio.&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Esta operação em que você vende uma &amp;#039;&amp;#039;&amp;#039;-CALL&amp;#039;&amp;#039;&amp;#039; e monta uma TRAVA de BAIXA chama-se &amp;#039;&amp;#039;&amp;#039;[[Estrategias Fence|Fence]]&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br/&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;====&amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039;====&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;==== &amp;#039;&amp;#039;&amp;#039;PAYOFF&amp;#039;&amp;#039;&amp;#039; ====&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Arquivo:TravaBaixa.png|esquerda|miniaturadaimagem]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>Malloc</name></author>
	</entry>
</feed>