1, option
The right to choose is a right. But the exercise of this right is for investors to choose whether to exercise it at some time in the future according to its value. Because investors are inevitably divided in their opinions, there are bulls and bears, so options can be divided into call options (bullish) and put options (bearish).
Give an example to illustrate these two options. Suppose that the price of an egg is now 5 yuan, which is divided into two situations:
(2) If investor A thinks that the value of eggs will be in 4 yuan at most after one month, and investor B who holds eggs thinks that eggs will not only be in 5 yuan, such as 5.5 yuan, but also wants to continue collecting eggs for profit. So, they started dating again: A said, I will sell you eggs at the price of 4 yuan in a month, and you must buy them. B said, ok. Party A also paid 0.5 yuan's deposit to Party B. For A, this means buying put options. Release, that is, release.
(1) If investor A thinks that the egg will rise after 1 month, then its value is 6 yuan, while investor B who holds the egg thinks that it is not worth so much money. Therefore, the two agreed that Party A should pay 0.5 yuan deposit to Party B and have the right to buy the eggs held by Party B at the price of 5 yuan in the future. In this way, they reached an egg call option.
But what can be used to make short profits is mainly to buy put options, which is the second case above. Suppose the reality is really skinny. After one month, the eggs really fell, leaving only 4 yuan. A can still sell eggs to B at the price of 4.5 yuan, and B must buy them.
However, there are not many A-share options and tools. The Shanghai Stock Exchange only has A50ETF options, and individual stock options are still in the testing stage.
Intimate tip: To open an option account, investors need 500,000 yuan, and they also need margin financing and securities lending qualifications. At the same time, they also need to pass the exam of Shanghai Stock Exchange. This exam is not a bluff. It can only be opened by uploading live video to Shanghai Stock Exchange.
In addition, option trading can be roughly divided into three levels, and participants at different levels have different rights. To put options, investors need to pass the third-level test.
Finally, remind the risks. The risk of selling put options is great, so investors should pay special attention to the upward risk of stock prices when investing in short put options.
2. Securities lending
For example, China CSR or CNR some time ago. Because the stock price is surprisingly high, it has deviated far from its value. Investors think the stock price will fall. At this time, investors can borrow China South Locomotive from your broker at the share price of 39 yuan at that time and sell it. Suppose it is 654.38+00,000 shares, and you have 390,000 more cash.
The so-called securities lending means borrowing securities. Borrow it from who? Securities companies run by investors. Can I sell it naked directly? Policy doesn't allow it. How to operate specifically? For the sake of simplicity, transaction fees and other expenses are not considered. Well, here, all the results will be clear. In two days, you paid off the 65,438+0,000 shares of China South Locomotive that you owed to the broker. Then, you earned 70 thousand. What is the expected annualized rate of return? 17.94%!
The next market is like you are a director, and your share price has plummeted for two consecutive trading days. At such a time, if you think the stock price has fallen to a relatively reasonable level. 65.438 million shares of China South Locomotive can be repurchased. If the price when you buy back China South Locomotive is 32 yuan, it will cost you 320,000 yuan.
If you want to do securities lending, you need to have 500,000 assets, and the larger brokerage institutions have this qualification.
Intimate tip: Ask your broker appropriately before opening an account: What is the target of securities lending and the appropriate investment strategy. In addition, investors should pay special attention to the investment risk of securities lending. Assuming that your integrated bonds have not fallen as you expected, but have risen sharply, your losses will be very painful!
3. Stock index futures
Futures is not a "commodity", but a contract linked to a specific subject matter and can be used for trading. The stock index futures mentioned here are contracts linked to the stock index.
One of the characteristics of stock index futures is that it can be leveraged, and when investors make the right trading behavior, they can amplify the income. Considering that the margin ratio generally required by futures companies is 15%, this means that the leverage ratio is close to 7 times.
The biggest feature of stock index futures is that it can be traded at T+0, and there is no limit on the number of times of the day. Suppose investors think that the stock market will fall that day, and they can profit from the falling market by selling stock index futures contracts (a bit like the above-mentioned securities lending).
There are three kinds of futures trading in China Financial Futures Exchange, namely, Shanghai and Shenzhen 300 stock index futures, Shanghai and Shenzhen 50 stock index futures and CSI 500 stock index futures.
Intimate tip: Stock index futures have higher requirements for investors, and have strong requirements for the collection and judgment of various information. If the operation is improper, it is easy to lose everything. Investors who have no experience in this field are advised to be cautious!
The above introduction of short selling methods is a summary, and does not represent a prediction of future market trends. In addition, due to the limitations of individual investors' own quality and ability, the above method does not mean that it is suitable for all investors.