Dude, it seems like you asked the same question several times. . .

By the way, please don’t delete the post for me if you accept it. The scores will then return to zero. . .

1 is definitely long, as the second question tells you. The reasons are mainly financial and macroeconomic. On the financial side, foreign exchange reserves have surged, inflation has intensified, and the supply of RMB will definitely be large, which will be reflected in the stock market sooner or later. From a macro perspective, the global economy is not very good, but China is better, and a lot of funds will be attracted.

2 Suppose you buy 20 contracts. In fact, it's almost the same. The fund cannot bear too much risk. Generally, 1 million funds can only be used for one-lot contracts. 20 million for 20 lots. One *** profit is 500 points, each point is 300 yuan, the total *** profit is 500*300*20 - 30*20= 3 million-600 yuan.

Second question

1 Assume three operations,

Buy a call option with an exercise price of US$150 per barrel and 3.78 million barrels per year< /p>

Sell a put option with an exercise price of US$62.35 per barrel, 7.57 million barrels/year

Sell a call option with an exercise price of US$200 per barrel, 3 million barrels/year< /p>

You'd better draw a picture to explain it yourself. . . This is clearer. Basically, if the oil price is below 62.35, for every dollar lower, you will lose 7.57 million. Between 62,35 and 150, there is basically no profit or loss. From 150 to 200, for every dollar increase, you can earn 3.78 million. Above US$200, for every US$1 increase, you will only earn 780,000.

2 If you look at the above situation, you will know that China Eastern Airlines bought many thousands of barrels, but it is actually a loser. . . You clearly don’t understand anything, yet you are deceived by others. . . Of course, it’s not that people don’t understand, the main problem is the system. . . Can't say much.

The second point is that the exposure to oil prices below $62 is too large and completely unreasonable. If oil prices plummet, it will be a disaster. In fact, what China Eastern Airlines did was just like a fund. It was not hedging at all. It was clearly the behavior of a gambler, and he was also a very poor gambler who completely ignored the winning rate. . .

The correct operation is to simply buy call options and sell an equal amount (or a slight difference) of put options.