Strategic view
On Thursday, A-shares rose collectively. As of the close, the Shanghai stock index rose 0.98%, the Shenzhen Component Index rose 1.23%, the gem index rose 1.01%, the Shanghai and Shenzhen 300 rose 1.66%, the Shanghai Stock Exchange 50 rose 1.68%, and the China Stock Exchange 500 rose 0.24%. The number of gainers in the two cities was 2654, higher than the average value of 2285 last week and lower than 3230 in the previous trading day. The daily limit was 78, lower than the average value of 93 last week and 89 the previous trading day. Northbound funds were net purchases of 21.656 billion yuan, with an average value of 3.023 billion yuan last week and a net purchase of 9.685 billion yuan the previous trading day. The turnover of the two cities was 1264.6 billion yuan, breaking trillion yuan for the 35th consecutive trading day. Northbound funds have continuously made large net inflows, undervalued blue chips have excellent performance, and there is a trend of plate diffusion. From the meeting of the Political Bureau of the CPC Central Committee, the boost to consumption next year has been put forward, and the performance of food and beverage has been eye-catching one after another. In addition, the first bank and the two sessions stressed that to meet the reasonable housing demand and promote the virtuous circle of the industry, we believe that the process of real estate from debt reduction to stable leverage has been demonstrated by banks and real estate, so it has also driven securities companies. At present, the start of low-level blue chip has a high degree of capital recognition. Although there may be shocks after a short-term continuous rise, the market is still promising.
Stock index futures trading strategy
View: IH futures positions have increased significantly and the willingness to hedge funds has increased
(1) On December 9, the positions of if, IH and IC contracts were 206800, 113800 and 269400 respectively, with a month on month increase of 6.53%, 13.79% and 0.23%;
(2) On December 9, the difference between the contract and spot price of if, IH and IC in the current month was 10.51 points, 3.02 points and -17.92 points, with a change of 0.64 points, – 5.48 points and 7.47 points compared with the previous trading day.
Operation suggestion: ih2112 mainly throws high and absorbs low, with support level of 3330 points and resistance level of 3410 points
Option trading strategy
Viewpoint: the PCR value continues to rise, and the short-term index may be adjusted
(1) On December 9, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 1.08, 1.28, 1.2, 1, 50ETF and 300etf options respectively, and the PCR values continued to rise.
(2) On December 9, the implied volatility of 300etf option and 50ETF option were 16.1% and 17.3% respectively, and the implied volatility of 300etf option and 50ETF option rebounded slightly.
Operation suggestion: radical strategy: none at present; Steady strategy: investors can buy 50 ETF and sell 3300 in December and 3200 in December at the same time. The maximum profit of a single portfolio strategy is 842 yuan and the maximum loss is 158 yuan; Hedging strategy: None
Risk statement
1. Rapid cooling of market transactions; 2 risk factors for the continuous spread of short-term panic
