"What is the difference between warrants and options?"
"The essential difference is that warrants are issued by warrant issuers. Theoretically, the quantity is limited, while the option contract is formulated by the exchange and traded by the buyers and sellers. They have a short-selling mechanism, and their positions are constantly changing with market conditions, which can theoretically expand indefinitely. "
"After the introduction of stock index futures, will the price be as high as the previous put warrants, seriously deviating from the spot index?" Xiao Zhang asked with concern.
"In our country, because the warrant creation system is not perfect, and there is a certain excess of funds in the stock market at present, the warrant supply and market demand are seriously unbalanced. Some put warrants seriously deviate from the stock price before maturity, and only fall sharply when they are close to maturity, and return to the original value; Because of the short-selling mechanism and arbitrage mechanism, stock index futures are more perfect than the warrant market in China, so there will be no long-term deviation of warrant stock prices. "
Risk warning: As China's stock index futures market is relatively perfect, when the current spot price deviates seriously, arbitrage investors will gain profits through risk-free arbitrage between futures and spot, and the existence of arbitrage trading will eventually make the current basis tend to be reasonable.
Stock and foreign exchange comparison
1. Whether the market goes up or down, you can make a profit.
Unlike the stock investment market, the foreign exchange market has no constraint of not being able to sell short. In the foreign exchange market, no matter whether investors hold long positions or short positions, or what the market trend is, they have the potential to make profits. Because in the currency trading market, it always involves buying one currency, and there is no structural prejudice against selling another currency. This means that investors have the same profit potential in rising or falling markets.
2. Free of commission
No commission is charged online or by telephone. In the stock market, you have to pay brokerage commission and transaction service fee. The over-the-counter trading structure of the foreign exchange market eliminates the transaction and settlement costs, thus reducing the transaction costs. Because of the high-efficiency pure electronic trading system, customers can directly trade with market makers, eliminating the bills and middleman fees, and the transaction cost can be further reduced. Because the money market operates 24 hours a day, you can enjoy a narrow and competitive spread no matter day or night. On the contrary, stock investors are more susceptible to market liquidity and usually need to pay higher bid-ask spreads, especially after trading hours.
3. Higher capital utilization ratio than stock investment.
When buying foreign exchange in the international market, you can enjoy a certain multiple of leverage ratio financing. In the stock market, for every $65,438+0,000 you invest, you can only control stocks worth $65,438+0,000. But in the money market, if you invest $65,438+$0,000 in foreign exchange transactions, you can control the principal several times at most.
4. Foreign exchange trading can fully satisfy technology investors.
The strong trend of foreign exchange trading has brought great benefits to technology investors. Different from stock investment, money will not rise and fall in a narrow range for a long time, but will show a strong trend of development trend. More than 80% of the investment is speculative, so the market usually goes beyond it and adjusts itself. Investors who have studied technical analysis can easily identify new trends and breakthroughs, thus providing many different opportunities to enter and exit the market.
It is easier to grasp the trends of different countries than to analyze the changes of companies.
The operation of a country is usually more stable than that of a company, which means it is easier to predict the direction of economic development. Currency transactions are paired, which means that investors want to "buy" one currency and "sell" another currency at the same time. Just like stock investment, investment. We should choose a currency with a fast growth rate and a good national economic situation. The exchange rate of currency reflects the supply and demand relationship of related currency in the market, and interest rate and the strength of economic system are the two most basic factors affecting the supply and demand relationship of related currency. Economic data such as gross domestic product, foreign investment and trade balance all reflect the performance of relevant economic systems, and are also the basic driving force affecting the supply and demand of money. A large number of economic data will be published regularly. Of course, some of them are more important than others. For example, data on interest rates and fluctuations in international trade must be carefully examined.
6. Trading 24 hours a day.
After the stock trading time, the trading liquidity is low and it is not easy to trade. But in the world's largest and most liquid foreign exchange market, you can trade 24 hours a day.
1) The stock market is risky and has high returns; Controlled by the state.
2) The investment risk of the fund is small and the income is low;
3) The foreign exchange market (including gold) has high risks and high returns; Not subject to state supervision, two-way transaction, not easy to be trapped.