Strategic view
On Wednesday, the Shanghai composite index was dominated by shock consolidation throughout the day, and turned red tenaciously at the end of the day Contemporary Amperex Technology Co.Limited(300750) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Sungrow Power Supply Co.Ltd(300274) , Eve Energy Co.Ltd(300014) and other downturn, and the gem index is under pressure. As of the close, the Shanghai stock index rose 0.02%, the Shenzhen Component Index fell 0.45%, the gem index fell 1.24%, the Shanghai and Shenzhen 300 fell 0.29%, the Shanghai Stock Exchange 50 fell 0.41%, and the China Stock Exchange 500 fell 0.12%. The number of gainers in the two cities was 3251, higher than the average value of 2185 last week and 2029 in the previous trading day. The number of daily limit was 104, higher than the average value of 76 last week and 88 the previous trading day. The number of decliners in the two cities was 1407, lower than the average value of 2434 last week and lower than 2587 in the previous trading day. The number of drop limits was 17, lower than the average value of 23 last week and lower than 23 on the previous trading day. Northbound funds had a net outflow of 5.321 billion yuan, with an average net inflow of 4.580 billion yuan last week and a net inflow of 4.421 billion yuan the previous trading day. The turnover of the two cities was 966228 billion yuan, with an average value of 927825 billion yuan last week and 936029 billion yuan the previous trading day. A shares continue to shrink, which means that the market trading is in a downturn and will continue to see back in the short term. On April 6 local time, the United States announced a new round of sanctions against Russia, and the pace of easing the conflict between Russia and Ukraine stalled. At present, the market still lacks a stable long-term logic, so it is difficult for the market to have a trend upward market, which is also one of the core factors of the market downturn.
Stock index futures trading strategy
Viewpoint: market sentiment is low and the index is weak and volatile
(1) on April 6, the positions of if, IH and IC contracts were 204600, 93500 and 314500 respectively, and the day on month changes were – 6.02%, – 6.42% and – 0.8%;
(2) on April 6, the difference between the contract and spot price of if, IH and IC in the current month was -21.84 points, – 7.2 points and -7.93 points, which was -13.68 points, – 4.55 points and -11.84 points compared with the previous trading day.
Operation suggestion: if2204 mainly throws high and absorbs low, with support level of 4210 points and resistance level of 4280 points
Option trading strategy
Viewpoint: the implied volatility is low, and the downward space of the index may be limited
(1) on April 6, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 0.9, 1.01, 1.12 and 0.84 respectively, of which the PCR values of 50ETF and 300etf options were relatively stable;
(2) on April 6, the implied volatility of 300etf option and 50ETF option were 18.0% and 19.4% respectively, and the implied volatility of 300etf option and 50ETF option rebounded slightly.
Operation suggestion: radical strategy: sell 300etf and sell 4100 options in April; Robust strategy: none; Hedging strategy: None
Risk tips
1. Rapid cooling of market transactions; 2 short term panic continued to spread risk factors.
