1. Hedger. Refers to the institutions or individuals that avoid the risk of stock price fluctuation by buying and selling futures contracts that are equivalent to stocks but in the opposite direction in the stock index futures market.
2. Arbitrator. It refers to an institution or individual who makes use of the unreasonable price relationship between the stock index futures market and the stock market, as well as between different markets, different varieties and different maturities of stock index futures to earn spread income by buying and selling at the same time.
3. speculators. Refers to the institutions or individuals that specialize in buying and selling stock index futures contracts in the stock index futures market, that is, "buy when bullish and sell when bearish" to make a profit.
I am from Jiangsu Hongye Futures, specializing in futures investment. You can contact me if you want to know.