Taking zinc as an example, how to calculate how much margin can be collected without breaking through the position after three consecutive unilateral daily limit boards? Please give a detailed calculation principle and process! thank you First of all, you need to prepare the relevant provisions of the deposit.

According to the provisions of Articles 12, 13 and 14 of the Administrative Measures for Risk Control of Shanghai Futures Exchange (2009), the daily limit of zinc contract (normal contract) for three consecutive times is 5%, 7% and 9% respectively, and the margin ratio of the exchange is 5% and 65438 respectively.

The margin rate of the exchange is also related to the positions of each contract (Article 5 of the above measures), but the non-stop trading will not exceed 10%, so it has no effect on the continuous stop trading. For example, the exchange margin of zn 1 102 is now 8%, not 5%.

In addition, ordinary investors generally participate in futures trading through futures companies, and futures companies should add some points to the margin rate, but there is no uniform regulation between companies, which also forms the phenomenon that different investors have different margins on the same contract.

For the convenience of calculation, we assume that the futures company's plus point is fixed at 5% and will not be adjusted with the continuous unilateral market. In this way, the margin rates under three consecutive pull-ups are 10%, 15% and 17% respectively.

Assuming that the settlement price of three consecutive boards in the previous trading day is 18000, the three-day stop price is:

18000* 1.05= 18900, 18900* 1.07=20223,20223* 1.09=22043

Thus, at the third daily limit, the value of primary zinc is 22043 * 5 =110215, and the required margin is110215 *15.

For these three consecutive games, the loss of each empty ticket is: (22043-18000) * 5 = 20215.

So for 1 zinc, at least:18736+20215 = 38951.

It can only be said that this is just an example, just to illustrate the calculation method. For example, the stop-loss price, because the exchange calculates the stop-loss range according to the settlement price, it is difficult for the settlement price of three trading days to reach the theoretical price unless it is a three-day word board.

In addition, different initial prices will also produce different results, starting from 18000 zinc and 22000 zinc respectively, and the calculation results will be very different.