You should correct your idea that stock index futures and options are forward-looking rather than lagging. If you want to know which funds are operating stock index futures, you must know. Okay, let me get this straight. Basically, the people who operate stock index futures are big money and technical experts. Most of them are funds and hot money predators. Their sense of smell is the most sensitive. Often, when the stock market is calm, they have already smelled different smells, and then they react in advance in the highly leveraged stock index futures market, thus making rich profits. At present, domestic stock index futures are restricted from opening positions, and the reference significance is not as great as before. You should look at the fluctuation time relationship between stock index futures and A-share index. I suggest you look at the A50 futures index in Singapore, and the target of the transaction is the Shanghai A-share index. Large domestic and foreign funds are operating there.