Strategic view
On Monday, the three major stock indexes of Shanghai and Shenzhen collectively opened higher in the morning, the Shanghai Stock Index operated at a high level all day, the Shenzhen Component Index and the gem index rose at the beginning and then fell all the way, and the gem index turned green at the end of the day. As of the closing, the Shanghai Composite Index rose 2.03%, the Shenzhen Component Index rose 0.96%, the gem index rose 0.31%, the Shanghai and Shenzhen 300 rose 1.54%, the science and innovation 50 rose 0.36%, the Shanghai Composite 50 rose 1.97%, and the China Securities 500 rose 1.46%. The number of gainers in the two cities was 3438, higher than the average value of 1734 last week and 3287 in the previous trading day. The number of daily limit was 111, higher than the average value of 48 last week and 64 the previous trading day. The number of decliners in the two cities was 1104, lower than the average value of 2795 last week and 1246 in the previous trading day. The number of drop limits was 52, lower than the average value of 69 last week and higher than 42 in the previous trading day. Northbound funds had a net inflow of 5.553 billion yuan, with an average net outflow of 5.214 billion yuan last week and a net outflow of 12.466 billion yuan the previous trading day. The turnover of the two cities was 824.067 billion yuan, with an average value of 848.675 billion yuan last week and 819.736 billion yuan the previous trading day. A shares reappear differentiation, which seems to have risen sharply, but there is a significant rise and fall in the high boom track. At present, the rise of the index on Monday belongs to oversold rebound, and the probability of V-shaped rebound is small. After the rebound, it may fall again, so as to build a bottom shape.
Stock index futures trading strategy
Viewpoint: the futures index position decreases slightly, and the short-term index may fluctuate weakly
(1) on February 7, the positions of if, IH and IC contracts were 209000, 113200 and 304200 respectively, and the day on month changes were - 1.04%, - 1.36% and 2.01%;
(2) on February 7, the difference between the contract and spot price of if, IH and IC in the current month was -6.89 points, -1.66 points and -15.01 points, which changed by -6.89 points, 15.56 points and 4.52 points compared with the previous trading day. Operation suggestion: if2203 is mainly short at every height, and the resistance level is 4650 points
Option trading strategy
Viewpoint: the implied volatility drops sharply, and the index may remain weak
(1) on February 7, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 0.70, 0.93, 0.85 and 0.72 respectively, and the PCR values of 50ETF and 300etf options remained low.
(2) on February 7, the implied volatility of 300etf option and 50ETF option were 17.0% and 18.4% respectively, and the implied volatility of 300etf option and 50ETF option decreased significantly.
Operation suggestion: radical strategy: none at present; Steady strategy: buy 300etf and sell 4600 in February, and sell 4500 in February at the same time. The maximum profit of a single portfolio is 687 yuan and the maximum loss is 313 yuan; Hedging strategy: None
Risk tips
1. Rapid cooling of market transactions; 2 short term panic continued to spread risk factors.
