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Optionshandel auf landwirtschaftlichen Terminmärkten: Sinnvolles Instrument der Risikoabsicherung oder Treiber von Agrarpreisvolatilität

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  • Glauben, Thomas
  • Prehn, Sören
  • Dannemann, Tebbe
  • Brümmer, Bernhard
  • Loy, Jens-Peter

Abstract

Auf volatileren Agrarmärkten gewinnt der Handel mit Optionen zunehmend an Bedeutung. Optionen gestatten die einseitige Absicherung von Preisrisiken, z. B. nur gegen fallende Preise, und stellen ein zunehmend bedeutenderes Instrument für das Risikomanagement von Landwirten und Landhändlern dar. Befürchtungen, dass der zunehmende Handel mit Optionen zu einer erhöhten Volatilität internationaler Agrarrohstoffpreise führen könnte, sind bisher empirisch nicht nachzuweisen. Ökonometrische Schätzungen für den MATIF-Körnermaismarkt weisen darauf hin, dass kein volatilitätserhöhender Effekt durch den Optionshandel festzustellen ist.

Suggested Citation

  • Glauben, Thomas & Prehn, Sören & Dannemann, Tebbe & Brümmer, Bernhard & Loy, Jens-Peter, 2014. "Optionshandel auf landwirtschaftlichen Terminmärkten: Sinnvolles Instrument der Risikoabsicherung oder Treiber von Agrarpreisvolatilität," IAMO Policy Briefs 200130, Institute of Agricultural Development in Transition Economies (IAMO).
    • Handle: RePEc:ags:iamopb:200130
    DOI: 10.22004/ag.econ.200130
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    Agricultural Finance;

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