In the CBN Dinheiro program this Friday (11), expert Marcelo d'Agosto answered a question from listener Gabriel about the financial market. Gabriel asked why an increase in the number of open derivative contracts involving Brazilian assets abroad would indicate an appreciation of the Brazilian stock market.
Derivative contracts are financial instruments whose value is linked to the performance of a specific underlying asset. The expert explained that a typical example is the call option, which gives the buyer the right to purchase an asset at a predetermined price, with payment due in the future.
According to Marcelo d'Agosto, the seller of the call option receives a premium upfront in exchange for committing to sell the asset at the fixed price on the specified date. If the asset appreciates in the future, the buyer exercises their right to purchase. If the asset depreciates, the buyer loses only the value of the premium they paid to secure that option.
