At the end of 20 19, CICC listed a new asset, which is the CSI 300 stock index option. For many investors, options are a strange field. Although many investors know the basic knowledge of options, they still lack understanding of the trading system. So how to calculate the margin of Shanghai and Shenzhen 300 stock index options?

How to calculate the option margin of Shanghai and Shenzhen 300 stock indexes?

First of all, it needs to be clear that the option buyer does not open the position by paying the deposit, but the option seller needs to pay the deposit. This is because the seller is the party who has the right to sell the option, so he has the obligation to exercise it. In order to ensure his exercise, the exchange stipulates that the margin of the option seller is as follows:

Call option obligation warehouse: opening margin = (pre-contract settlement price × contract multiplier) +max (closing price before underlying index × contract multiplier × contract margin adjustment coefficient-imaginary value of call option, minimum guarantee coefficient × closing price before underlying index × contract multiplier × contract margin adjustment coefficient).

Put option obligation warehouse: opening margin = (pre-contract settlement price × contract multiplier) +max (closing price before underlying index × contract multiplier × contract margin adjustment coefficient-imaginary value of put option, minimum guarantee coefficient × contract exercise price × contract multiplier × contract margin adjustment coefficient).

The above is the calculation method of option margin. Although it looks very complicated, in practice, the trading software will help us calculate the deposit itself, and we don't need to calculate it ourselves.