Summary
On April 11, 2022, 50ETF fell 2.65% to close at 2832300etf (Shanghai Stock Exchange) fell 3.12% to close at 4101300etf (Shenzhen Stock Exchange) fell 2.93% to close at 4.105, and CSI 300 index fell 3.09% to close at 410007.
The trading volume PCR of SSE 50ETF option was 110.37, and the trading volume PCR of the previous trading day was 102.83; The position PCR was 69.85, and the position PCR of the previous trading day was 85.07 The trading volume PCR of 3000etf options on Shanghai Stock Exchange was 126.96, and the trading volume PCR of the previous trading day was 105.24; The position PCR was 83.09, and the position PCR of the previous trading day was 97.29 Shenzhen Stock Exchange 300etf option trading volume PCR was 122.03, and the trading volume PCR of the previous trading day was 119.40; The position PCR was 86.77, and the position PCR of the previous trading day was 107.14 The option trading volume PCR of the CSI 300 index was 100.01, and the trading volume PCR of the previous trading day was 91.94; The position PCR was 71.04, and the position PCR of the previous trading day was 80.21.
The implied volatility of the average value option of SSE 50ETF option in April 2022 was 23.27%, and the historical volatility of the underlying 30 trading days was 29.35%. The implied volatility of 300etf option of Shanghai Stock Exchange in April 2022 was 23.41%, and the historical volatility of the underlying 30 trading days was 29.35%. The implied volatility of 300etf option of Shenzhen Stock Exchange in April 2022 was 23.78%, and the historical volatility of the underlying 30 trading days was 29.37%. The implied volatility of the CSI CSI 300 index option in May 2022 was 22.18%, and the historical volatility of the underlying 30 trading days was 29.39%.
On the policy side, it is proposed that the growth target is not relaxed, which has stabilized the market risk preference, and the bottom support force formed by the policy side is relatively sufficient. On the macro level, affected by epidemic factors and overseas inflation, the official manufacturing PMI and non manufacturing PMI fell below the critical point in March, and China's CPI and PPI rebounded. However, the data of social finance and new RMB loans in March exceeded expectations, the market confidence in the steady growth policy was further strengthened, and the market expectation was stabilized. On the whole, the steady growth of policy is expected to stabilize the market risk appetite, while the risk factors outside China still suppress the market sentiment. It is expected that the stock index will show a trend of shock consolidation in the short term. At present, we can consider the bull market spread strategy every index callback, so that the income and risk can be controlled.
