By the way, please don't help me delete the post if it is adopted. So the scores will all go to zero. . .
1 It must be long. I told you the second question. The main reasons are financial and macro aspects. On the capital side, foreign exchange reserves have surged and the currency has intensified, and the supply of RMB will definitely be large, which will be reflected in the stock market sooner or later. Macroscopically, the global economy is not so good, but China is better and will attract a lot of capital.
Suppose you buy 20 contracts. Actually, it's about the same. The fund can't take too much risk. Generally, 6,543,800 yuan+0,000 yuan can only be used as a primary contract. 20 hands, 20 million. The total profit is 500 points. For each point in 300 yuan, the total profit is 500 * 300 * 20-30 * 20 = 3 million -600 yuan.
the second question
1 Suppose three operations,
Buy call options with exercise price of $65,438+050/barrel, 3.78 million barrels per year.
Put options are sold at an exercise price of $623.5 per barrel, with 7.57 million barrels per year.
Sell call options at an exercise price of $200 per barrel and 3 million barrels per year.
You'd better draw a picture to explain it yourself. . . This is clearer. Basically, the oil price is below 6235, and every low 1 USD will result in a loss of 7.57 million. Between 62,35 and 150, there is basically no profit or loss. 150 to 200, for every increase of 1, you can earn 3.78 million. More than $200, every increase of 1 dollar only earns 780,000.
Look at the above situation, and you will know that China Eastern Airlines bought a lot of 10,000 barrels, but all of them are useless. . . When you know nothing, you are cheated by others. . . Of course, it's not that I don't understand people The main problem is the system. . . Can't say more.
Second, the exposure of oil prices below $62 is too large and totally unreasonable. If the oil price plummets, it is a dead end. In fact, the practice of China Eastern Airlines is like a fund. This is not hedging at all, but it is obviously a gambler's behavior, and it is also a very bad gambler, completely ignoring the winning rate. . .
The correct operation is just to buy a call option and sell an equal (or slightly different) put option.