China chemical fiber industry is an industry with new competitive advantages in the world. As the "boss" of chemical fiber varieties, polyester polyester is the top priority of chemical fiber industry. PTA is the most important raw material for producing polyester products and one of the basic raw materials for textile industry. More than 95% of PTA in the world is used to produce polyester products. At present, China's PTA industry has a global competitive advantage and is at the leading level in terms of technology, equipment, product quality and overall scale. China is the world's largest producer and consumer of PTA, and also the largest producer and consumer of polyester products. In 20 18, the effective capacity of PTA in China reached 45.79 million tons, the output reached 40.8 million tons, and the self-sufficiency rate reached 99.8%. The industry has formed large-scale leaders such as Yisheng Petrochemical, Hengli Petrochemical and Jiaxing Petrochemical under Tongkun Group. PTA futures was listed on Zhengzhou Stock Exchange in 2006, and now it is the "star" variety in China futures market. At present, 90% PTA production enterprises, trading enterprises and 80% polyester enterprises in China are using PTA futures to avoid risks. At the same time, China is also the world's largest producer and consumer of methanol, and also the world's largest importer of methanol, with a large number of methanol producers, intermediate traders, downstream customers and related financial institutions. Many organizations related to methanol industry are facing practical risk management needs.
PTA option contracts
Methanol option contracts
The announcement shows that the trading units of PTA and methanol options are PTA 1 lot and methanol futures contract 1 lot respectively. The minimum price change is set to 0.5 yuan/ton, and the price limit is consistent with the target futures contract. The last trading day (expiration date) is the third trading day one month before the delivery month of the target futures contract, and each target futures contract has 1 flat option contract and 6 real-valued options. The exercise method of PTA and methanol options is set to American, and the option buyer can exercise on any trading day on or before the expiration date.
In terms of exercise price, the exercise price range of PTA options is set as follows: the exercise price is ≤ 5,000 yuan/ton, and the exercise price range is 50 yuan/ton; 5000 yuan/ton 10000 yuan/ton, and the exercise price range is 200 yuan/ton. The exercise price range of methanol option is set as follows: the exercise price is ≤ 2,500 yuan/ton, and the exercise price range is 25 yuan/ton; 2500 yuan/ton