The following statement about the long-span arbitrage strategy is correct. A. Also known as "different price hedging and bundled option portfolio", investors buy or sell call options and put options with the same target, the same maturity date but different exercise prices at the same time. B. The cost of long-span arbitrage is lower than that of cross arbitrage, but it needs greater fluctuation to break even or make profits. C the biggest risk of long-span arbitrage is the total premium paid by the buyer. D. When the price of selling long-span arbitrage falls below the low equilibrium point, put options will be sold.

Correct answer: ABCD

Long-span arbitrage is also called "impact of different prices, bundling options".

"Combination" means that investors buy or sell call options and put options with the same target, the same maturity date but different exercise prices at the same time. The cost of wide-span arbitrage is lower than that of cross-span arbitrage, but it needs to fluctuate greatly to break even or make a profit. According to the different buying and selling directions of investors, large-span arbitrage can be divided into long-term large-span arbitrage and short-term large-span arbitrage. Selling long-span arbitrage, when the price rises above the high equilibrium point, it will require the execution of call options and obtain short futures positions; When the price falls below the low equilibrium point, put options will be required and long futures positions will be obtained.