Strategic view
On Tuesday, the Shanghai Composite Index saw back and forth around the 3200 line in the morning, rebounded at the bottom in the afternoon, and failed to recover the 3200 level Contemporary Amperex Technology Co.Limited(300750) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Chongqing Zhifei Biological Products Co.Ltd(300122) , Eve Energy Co.Ltd(300014) fell together, and the gem index was under pressure. As of the close, the Shanghai Composite Index fell 1.50%, the Shenzhen composite index fell 0.50%, the gem index fell 1.38%, the Shanghai and Shenzhen 300 fell 0.76%, the Shanghai Composite 50 fell 0.91% and the China composite 500 rose 0.30%. The number of gainers in the two cities was 2713, higher than the average value of 1882 last week and lower than 2848 in the previous trading day. The number of daily limit was 73, the same as the average value of last week, lower than 92 on the previous trading day. The number of decliners in the two cities was 1905, lower than the average value of 2789 last week and higher than 1776 in the previous trading day. The number of drop limits was 44, lower than the average value of 51 last week and lower than 60 in the previous trading day. The net outflow of northbound funds was 1.943 billion yuan, with an average net inflow of 719 million yuan last week. The turnover of the two markets was 779475 billion yuan, with an average value of 907097 billion yuan last week and 778563 billion yuan the previous trading day. A shares continue to maintain the volume of land. Continuous volume transactions mean that the time point of change is approaching. Previously, we proposed that the growth relay is the key to the continuation of the market. However, although there was a relay on Monday, it did not spread. Therefore, we believe that it needs to spread on Tuesday to define that the market is expected to improve. However, it is obvious that the market is very depressed at present, has entered an extreme value, and the market will usher in change at any time.
Stock index futures trading strategy
Viewpoint: market sentiment is low, and the short-term index is weak and volatile
(1) on April 19, the positions of if, IH and IC contracts were 209100, 105400 and 327700 respectively, with the changes of 2.49%, 1.18% and – 1.09% on a daily basis;
(2) on April 19, the difference between the contract and spot price of if, IH and IC in the current month was -0.1 points, 3.43 points and -25.8 points, which was 8.08 points, – 2.65 points and -2.79 points higher than that of the previous trading day.
Operation suggestion: if2205 mainly throws high and absorbs low, with support level of 4100 points and resistance level of 4190 points
Option trading strategy
Viewpoint: the momentum of short selling of funds is weakened, and the short-term index remains volatile
(1) on April 19, the PCR (positions) of 50ETF option, Huatai 300etf option, harvest 300etf option and 300 stock index option were 0.69, 0.87, 0.94 and 0.78 respectively, of which the PCR values of 50ETF and 300etf options decreased slightly;
(2) on April 19, the implied volatility of 300etf option and 50ETF option were 20.6% and 20.6% respectively, and the implied volatility of 300etf option and 50ETF option rebounded slightly.
Operation suggestion: radical strategy: sell 300etf and 4000 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.
