Strategic view
On Monday, A-Shares showed a shock pattern as a whole, and the concept stock of "counting from the east to the west" blowout; The decline of Contemporary Amperex Technology Co.Limited(300750) and China stock market news dragged down the gem index; Real estate stocks rose in late trading. As of the closing, the Shanghai Composite Index fell 0.15 points, the Shenzhen Component Index fell 0.09%, the gem index fell 0.79%, the Shanghai and Shenzhen 300 fell 0.36%, the Shanghai 50 fell 0.57%, and the China Securities 500 rose 0.47%. The number of gainers in the two cities was 3381, higher than the average value of 2537 last week and higher than 3055 in the previous trading day. The limit was 113, higher than the average value of 74 last week and 59 the previous trading day. The number of decliners in the two cities was 1136, lower than the average of 1952 last week and 1444 in the previous trading day. The number of drop limits was 6, lower than the average value of 13 last week and higher than one in the previous trading day. The net outflow of northbound funds was 3.522 billion yuan, with an average net outflow of 480 million yuan last week and a net inflow of 4.837 billion yuan the previous trading day. The turnover of the two cities was 901.516 billion yuan, with an average value of 843.588 billion yuan last week and 808.341 billion yuan the previous trading day. The volume of A-Shares contracted up and the volume fell. Although the volume energy fluctuated little, the trend belonged to this. At the end of the day, affected by the reduction of mortgage interest rates by banks in some areas of Guangzhou, the real estate sector was fully started, driving the index upward. For A-Shares alone, Monday's return step provided a basis for the subsequent rise. However, after hours, affected by the news that Ukraine fell into the situation of exchange of fire again, the global financial markets shook again. The European and American stock markets, which had been rising well, suddenly took a sharp turn, and the Russian stock market once plunged 17%. Therefore, we believe that the fluctuation of the peripheral market may disturb the A-share market, but even if it falls, it is only the second bottom of the market. Overall, for the current A-share market, we should be optimistic.
Stock index futures trading strategy
Viewpoint: the short-term position rebounds and the capital game intensifies
(1) on February 21, the positions of if, IH and IC contracts were 196100, 100800 and 285900 respectively, with the changes of 2.98%, 2.49% and - 0.09% on a daily basis;
(2) on February 21, the difference between the contract and spot price of if, IH and IC in the current month was -6.91 points, 9.34 points and -23.91 points, which was 7.92 points, 18.16 points and -7.89 points higher than that of the previous trading day.
Operation suggestion: if 2203 throws high and sucks low, the support level is 4580 points and the resistance level is 4650 points
Option trading strategy
Viewpoint: the implied volatility falls again, and the short-term index may remain volatile
(1) on February 21, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 0.78, 0.95, 0.82 and 0.83 respectively, of which the PCR values of 50ETF and 300etf options decreased.
(2) on February 21, the implied volatility of 300etf option and 50ETF option were 13.4% and 14.6% respectively, and the implied volatility of 300etf option and 50ETF option decreased.
Operation suggestion: radical strategy: none at present; Steady strategy: buy 50ETF put March 3000 option and sell 50ETF put March 2950 option at the same time. The maximum return of a single portfolio is 453 yuan and the maximum loss is 47 yuan; Hedging strategy: None
Risk tips
1. Rapid cooling of market transactions; 2 short term panic continued to spread risk factors.
