段永平雪球晒单布局腾讯：卖出2,000张认沽期权 收取期权费约208.4万港元
投资人段永平再次以卖出认沽期权（卖put）的方式布局腾讯控股。10月2日，腾讯控股在港股市场低开低走，有网友在雪球上向段永平提问，问腾讯的企业文化是否属于「大道看不清」的部分，段永平直接晒出交易截图回复：「先卖点put吧。」上海证券报随后于10月7日经新浪财经等渠道报道此事；本稿日期按晒单当日10月2日计。
截图显示，段永平卖出2,000张行权价420港元、2026年10月29日到期的腾讯认沽期权，订单已全部成交，收取期权费约208.4万港元。若到期时被行权，他将按每股420港元承接20万股腾讯股票。
这次操作发生在腾讯股价调整期间：国庆长假期间港股有4个交易日正常交易，腾讯控股其间累计下跌2.41%；10月7日，腾讯股价盘中一度跌至419.2港元，最终收报420.6港元。自2025年10月6日至2026年10月7日，腾讯股价累计跌幅超过36%，同期恒生科技指数下跌近36%。
段永平长期关注腾讯，并多次公开谈及自己的卖put策略。他曾表示：「我卖put的情况多是在自己喜欢的公司的价钱在不高不低的区间，手里又正好有点闲钱。想着10年后这个价钱也不贵，闲着也是闲着，于是就卖个put。」今年4月，他在回应网友关于其减仓腾讯的分析时称：「腾讯是很好的公司，要惜卖。」今年8月他透露，自己持有的腾讯并未达到1%——按当时约4万亿港元的市值计算，1%约合400亿港元出头。（GSM 据上海证券报、新浪财经报道）
Duan Yongping Discloses Tencent Put Sale on Xueqiu: 2,000 Contracts Sold for About HK$2.084 Million in Premium
Investor Duan Yongping has again positioned in Tencent Holdings by selling put options. On October 2, as Tencent fell in Hong Kong trading, a user on the Xueqiu platform asked Duan whether Tencent's corporate culture fell into what he calls the part of "the great way" that is hard to see clearly. Duan replied by posting a screenshot of his trade: "Let me sell some puts first." Shanghai Securities News reported the trade on October 7 via Sina Finance and other outlets; this story is dated to October 2, the day of the post.
The screenshot shows Duan sold 2,000 Tencent put contracts with a strike price of HK$420 expiring on October 29, 2026. The order was fully filled, and he collected about HK$2.084 million in premium. If the options are exercised at expiry, he will take delivery of 200,000 Tencent shares at HK$420 each.
The trade came during a pullback: Hong Kong stocks traded on four days over the National Day holiday period, during which Tencent fell 2.41%. On October 7, Tencent shares dipped intraday to HK$419.2 before closing at HK$420.6. From October 6, 2025 to October 7, 2026, Tencent's share price fell more than 36%, while the Hang Seng Tech Index lost nearly 36% over the same span.
Duan has followed Tencent for years and has often explained his put-selling approach in public. "I mostly sell puts when a company I like is priced in a neither-high-nor-low range and I happen to have some idle cash," he has said. "Thinking that the price won't look expensive ten years from now, and since the money is sitting idle anyway, I sell a put." In April this year, responding to a user's analysis suggesting he had trimmed his Tencent holding, he said Tencent is a very good company and one should be reluctant to sell it. In August, he disclosed that his Tencent holding had never reached 1% — at a market value of roughly HK$4 trillion at the time, 1% would have been a little over HK$40 billion. (GSM, based on Shanghai Securities News and Sina Finance reporting)
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图片来源：图：香港中环交易广场，香港交易所所在地（资料照片）。段永平本人暂无开放授权照片，故以交易发生地市场地标配图。图片来源：Ank Kumar，经 Wikimedia Commons（CC BY-SA 4.0）。Photo: Exchange Square in Central, Hong Kong, home of the Hong Kong Stock Exchange (file photo). No openly licensed photo of Duan Yongping was available. Source: Ank Kumar, via Wikimedia Commons (CC BY-SA 4.0).
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