Strategic view
Last Friday, the two stock indexes of A-Shares collectively closed down. As of the close, the Shanghai index fell 0.18%, the Shenzhen Component Index fell 0.59%, the gem index fell 0.98%, the Shanghai and Shenzhen 300 rose 0.09%, the Shanghai 50 fell 1.35% and the China Securities 500 rose 0.40%. The number of gainers in the two cities was 975, lower than the average value of 2593 last week and lower than 2954 in the previous trading day. The limit was 50, lower than the average value of 78 last week and 98 the previous trading day. The net inflow of northbound funds was 9.335 billion yuan, the average value of last week was 3.667 billion yuan, and the net outflow on the previous trading day was 6.638 billion yuan. The turnover of the two cities was 1208.5 billion yuan. A shares rose and fell, and the characteristics of falling speed are very obvious. The oversold signal has appeared. Although growth stocks have fallen rapidly in the short term, many growth blue chips have strong performance certainty in 2022 and should not be overly pessimistic after their valuation advantages are highlighted. We have also previously analyzed that: "the short-term continuous decline has fallen out of a certain space advantage. At present, the liquidity and economic environment do not support the trend breaking decline. It is recommended that investors reverse operation. The current opportunity is greater than the risk."
Stock index futures trading strategy
Viewpoint: the premium of IC futures has expanded and the mood has warmed up
(1) on January 7, the positions of if, IH and IC contracts were 199300, 114400 and 277800 respectively, with a day-on-day increase of - 3.68%, - 4.36% and 0.99%;
(2) on January 7, the difference between the contract and spot price of if, IH and IC in the current month was 7.23 points, 3.53 points and 16.32 points, with a change of 7.26 points, 1.12 points and 21.08 points compared with the previous trading day.
Operation suggestion: ic2201 high throw low suction, support level 7170 points, resistance level 7250 points
Option trading strategy
Viewpoint: PCR value and implied volatility remain low, short-term index or low volatility
(1) on January 7, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 0.62, 0.81, 0.66 and 0.69 respectively, and the PCR values of 50ETF and 300etf options remained low.
(2) on January 7, the implied volatility of 300etf option and 50ETF option were 15.4% and 15.3% respectively, and the implied volatility of 50ETF option decreased slightly.
Operation suggestion: radical strategy: none at present; Steady strategy: buy 50ETF to buy 3000 options in January, and sell 50ETF to buy 3400 options in January at the same time. The maximum return of a single portfolio is 874 yuan and the maximum loss is 126 yuan; Hedging strategy: None
Risk tips
1. Rapid cooling of market transactions; 2 short term panic continued to spread risk factors.
