First of all, put option means that \x0d\ you have the right to sell the stock to the other party at the exercise price (27.50 yuan) in the future, and you can choose whether to sell \ x0d \ in this case, investors can consider buying the put option of 1000 yuan \ x0d \, so buy it. At this time, the investor's loss is the stock spread+1000 yuan \x0d\\x0d\ if the stock price falls.