Speculation is used in futures and securities trading, which refers to the trading behavior of grasping the opportunity and making use of the price difference in the market according to the judgment of the market. Speculators need to analyze the market, and moderate speculation can promote price discovery and reduce price fluctuations. Treasury bond futures speculation, like stock index futures, can be long-short, short-term, mid-line and long-term; Speculation needs to analyze the market, judge the trend, choose the opportunity and allocate funds. Speculation is risky.
According to the length of holding futures contracts, speculation can be divided into three categories:
The first is long-term speculators. After buying or selling a futures contract, such traders usually hold the contract for days, weeks or even months, and then hedge the contract when the price is favorable to them.
The second type is short-term traders, who generally buy and sell futures contracts on the same day, and do not hold positions overnight.
The third category is profit-seekers, also known as hat snatchers. They take advantage of small price changes to make small profits, and they can make multiple rounds of trading in one day.
Speculators are an important part of the futures market and an essential lubricant for the futures market. Speculation enhances the liquidity of the market and bears the risk of hedging transaction transfer, which is the guarantee for the normal operation of the futures market.
Speculation can be divided into long speculation and short speculation. Long speculation refers to the strategy that speculators buy treasury bonds futures and expect their prices to rise, and buy low and sell high when they think that the market will produce factors conducive to the rise of treasury bonds futures prices; Short speculation is the opposite. Speculators who are bearish on the market sell overpriced treasury bonds futures and wait for the price to fall before repurchasing profits.
situation
Treasury bond futures speculation.
Suppose the price of treasury bond futures contract TF ×××× 12 is 165438+98.58 yuan on 10/2, and speculators buy 20 lots, and the futures price rises to 90 yuan on10/day in June.
Investors can make a cumulative profit of 20× (99.002-98.58 )×1000000/100 = 84400 yuan.
If the handling fee is 800 yuan, the net profit will be 83,600 yuan.
situation
Short-term speculation in treasury bonds futures.
Assume that the price of the treasury bond futures contract TF××× 09 is 99.0 12 yuan on July 2, and speculators short 30 lots and throw them when the futures price falls to 98.908 yuan on July 9.
Investors can gain 20× (99.012-98.908 )×100000/100 = 31200.
If the handling fee is 1200 yuan, the net profit is 30,000 yuan.