Stock index futures:
Futures is a trading contract that is bought and sold before the agreed price. Futures trading is divided into speculation and delivery. Speculation earns the difference by buying low and selling high or buying high and selling low. Delivery is a transaction that is executed in the future by locking the transaction price in advance. Taking gold futures as an example, the price of gold is 12 1 1 USD/oz. Party A and Party B signed a gold futures contract with the delivery date of 20 16070 1. Party A is the buyer and Party B is the seller. If the 20 16070 1 contract expires, the gold price will reach 1300 USD/oz, and Party B still needs to pay 1238.
Futures are divided into commodity futures and financial futures. The subject matter of commodity futures is physical objects, such as crude oil, gold, silver, copper, aluminum, sugar, wheat and rice. The subject matter of financial futures is immaterial, such as stock price index, interest rate and exchange rate. And stock index futures are futures contracts with the stock price index as the subject matter. The popular understanding is the price quiz game with the stock price index as the object. You can buy up (term: long) or buy down (term: short). A bull is called a bull and a bear is called a bear. Both the bull and the bear pay a margin of 10%-40% to buy and sell stock index futures contracts (the specific margin amount is stipulated by China Financial Futures Exchange), and then calculate the profit and loss according to the price of 300 yuan at each index point. Every time the index rises by one point, the bulls gain 300 yuan. Every time the index drops by one point, the bears gain 300 yuan and the bulls lose 300 yuan. This 300 yuan/point is called the price multiplier, and the price multipliers vary from country to country. At present, there are stock index futures in more than 40 countries in the world, including US Standard & Poor's 500 stock index futures of US$ 250, NASDAQ 100 index futures of US$ 0/00 and Frankfurt index futures of US$ 5. London Financial Times 100 Index Futures is 25 pounds, and Hong Kong Hang Seng Index Futures is 50 Hong Kong dollars. At present, there are three kinds of stock index futures contracts in China, namely Shanghai and Shenzhen 300 stock index futures IF, CSI 500 stock index futures IC and SSE 50 stock index futures IH. Each stock index futures has four contracts according to different time, one for the current month, one for the next month and two for the quarterly month. For example, the currently listed Shanghai and Shenzhen 300 stock index futures contracts are IF 1604, IF 1605, IF 1606, IF 1609, and IF 1604 is the contract of the current month, which means 20 16. IF 1605 refers to next month's contract, refers to the contract delivered on the third Friday of May 20 16, IF 1606 refers to current season's contract, refers to 20 1609 refers to next season's contract, and refers to 2065438.
Futures trading is divided into short selling and long selling. Short selling is to sell before buying, and long selling is to buy before selling. For example, the Shanghai and Shenzhen 300 futures index 20 17 1030 9:36 is 4030 points, and the price is expected to fall, so I sold a stock index futures contract with a margin ratio of 15%. Then the deposit occupied is 4030 * 300 *15% =181350 yuan, and the balance in the account * * * is 200,000 yuan, and the price dropped to 3,960 points at 10:06. I choose to buy and close the position, so the profit is (4030 points-. The yield is 21000/200000 =10.5%, and the price is expected to rise in the later period, so I bought a stock index futures contract, and the price reached 3990 points at 13:23, so I chose to sell and close my position, so the profit was (3990 points -3960 points).