No! You buy a spot portfolio of 65438+ billion today, then the stock index futures only need to sell the stock index futures with a contract value of 65438+ billion, and the contract value is 1 billion, then the required margin is definitely much smaller than 65438+ billion, and the margin ratio is 15%. You only need to hedge the stock index futures with150,000 to prevent the risk of spot loss tomorrow! This is only suitable for funds and other institutions to buy some stocks as planned in order to avoid large losses, or the market is unknown, or shareholders who need to be controlling shareholders or hold a certain proportion of shares in a company must buy stocks, and short stock index futures in order to avoid the loss of buying stocks! You have 200 million yuan. In order to ensure no profit or loss under ideal circumstances, you need to buy X billion yuan in cash, and the total contract value of stock index futures will also be X billion yuan. X+0. 15x=2 equals 1.74 billion yuan! Buying stocks is worth 654.38+74 billion, and the rest are going to short stock index futures! This is just an ideal conclusion. In reality, stock index futures need some extra funds as margin. If the stock goes up the next day and you can't sell it well, then the stock index futures will lose money and need money, so other issues need to be considered when doing it in reality!