Take the buyer's perspective as an example:
If you are optimistic about the rise of 50ETF in the market, you need to pay the premium (that is, the contract cost) and buy call options. If the 50ETF rises in the market as scheduled, the call option price will also rise. After the liquidation, the difference between buying low and selling high is the investment income.
If you are optimistic about the decline of 50ETF, you need to pay royalties and buy put options. If the 50ETF falls as scheduled, the put option price will also rise. After the liquidation, the difference between buying low and selling high is the investment income.
Cost premium = latest price * 10000.
Because a 50ETF option contract represents 65,438+00,000 50ETF funds, that is to say, as long as there is a change of 0.000 1 yuan in the royalty, it will bring 65,438+0 yuan's profit and loss.
As can be seen from the above picture, how to choose so many contracts?
1. Contract cycle selection: choose the current month's real value contract with the best liquidity and the highest activity for trading, or choose the first and second real value transactions. If the trend is clear, you can choose a virtual contract with higher leverage ratio, so the income will be higher.
2. Choice of subscription and bearish direction: If you are optimistic about the rise of the 50ETF market, buy the call option of the month. If you are optimistic about the decline of the 50ETF market, then buy this month's put option.
3. Strike price option: Usually, the strike price contract closest to 50ETF price is called flat option, and the premium of the contract in the current month is usually between several yuan and several hundred yuan, which corresponds to more expensive real option and cheaper imaginary option. For option investment, the buyer's premium investment is the upper limit of loss.
As a tool of risk management, what strategies should options use to look at individual needs?
If you buy insurance for your stock position, you should choose a contract with a little imaginary value to prevent the risk of systematic collapse;
If you have confidence in the trend, it is suitable to buy a subscription contract with a virtual value or a flat value; If you are watching the target fall sharply, it is suitable to buy fake or flat put contracts; The lower the value, the greater the leverage effect of the contract.
If it is a fluctuating trend and you want to do intraday or small-band operations, it is recommended to choose a real-value contract with real value first or real value second. Although the amplitude is not as high as expected, it is relatively easy to operate and not easy to be washed out by intraday shock.
The contract price of options is different, and the degree of reality is also different. In fact, it is to provide different levels of leverage for everyone to choose, and choose the appropriate leverage according to the actual situation and the judgment of the target.
It should also be noted that this option has a time limit. Whether the buyer or the seller holds the position of the current month, they should pay attention to the maturity date to prevent the risk of value loss.