The bear case rests on patience, a Persian restoration and a Permian boom.

看跌的理由在于耐心，波斯的恢复和二叠纪的繁荣。

In a market crash that impairs the financial system, the Fed put would come back into focus.

如果损害金融体系的市场崩盘爆发，美联储看跌期权将重新成为焦点。

To traders this looks a bit like a put option, a basic hedging tool that sets a price floor for investments.

于交易员来说，这看起来有点像看跌期权，这是一种为投资设定价格下限的基本冲工具。

Beyond Christmas, bears look likely to gain a durable advantage.

圣诞季过后，看跌的一方似乎有望获得持久的优势。

Some people are bullish, some people are bearish.

有些看涨，有些看跌。

We have set up a bearish position, we expect to see the market fall.

们已经建立了看跌头寸，们预计市场会下跌。

So I am long Twitter and short Tesla.

所以看涨推特，看跌特斯拉。

Rob Smith, do you have a long or a short for us?

罗伯·史密斯，们有什么看涨或看跌的建议吗？

James, are you long or short something?

詹姆斯，是看涨还是看跌某个东西？

Goldman sees red, games get pricier, and tech rallies on a tariff reprieve.

高盛看跌油价，游戏价格上涨，科技股因关税豁免而反弹。

What's the calculation of the put call price?

看跌期权价格的计算是怎样的？

We talked about put calls that we had.

们讨论了们所拥有的看跌期权。

This year's bear case very quickly becoming the base case.

今年看跌的情况很快变成了基本情况。

Right in the face of a typical piece of bearish piece of sell side research.

面典型的看跌卖方研究报告，们毫不退缩。

So what would make you turn bearish?

那么，什么情况下会让转为看跌呢？

The whole world is bearish on oil.

全世界都看跌石油。

Right. So let's just say that they play out the puts he gets on IR.

正确的。所以们只能说他们执行了他在 IR 上得到的看跌期权。

And then finally, from a buy signal, the market is bearish.

最后，从买入信号来看，市场是看跌的。

And for flat, but have the put be a lot closer to the money.

并且选择平值期权，但看跌期权要更接近实值。

At the same time, she says it now has a bearish trading cycle.

同时，她说现在它有一个看跌的交易周期。