There are three main numbers of options, the strike price, the current price of the underlying and the option premium (premium), in the 50ETF market, the premium is the money to be given by the buyer, and in the case of a call option, the premium plus the strike price is almost the current price of the underlying asset.

Now the 50ETF is 2.686 yuan, which means that the current price is 2.686 yuan, and if the exercise price is also close to 2.686 yuan, that is, ...... Option premiums are almost non-existent.

However, 10,000 copies of a 50ETF option contract will occupy a monetary time cost of 26,860 yuan, and according to convention, an out-of-the-money option contract is about 200 yuan, and the exercise price is equal to the current price.

Wang Nuo asked Ye Yaohua to operate, that is, to try to open a position near the flat value and the imaginary value, his idea is also very obvious, optimistic about the market outlook, in order to get more contracts, he would rather take all the money to spend on time costs.

"December?" Ye Yaohua's hand waved on the keyboard as if he was twitching, and the crackling keyboard sound was like a tune.

"I want 4 months of contracts, I want to equalize the nearby contracts, I want to measure!" Wang Nuo's eyes were very firm, and there were all kinds of data jumping in his heart.

Wang Nuo injected 70,000 yuan into Yao Shuliang's account, and the buy contract with an exercise price less than the current price is a real-value contract, one is about 1,000 yuan to 3,000 yuan, and he can only buy 20 to 70 or 80 contracts in his entire position, which is boring.

If you buy contracts around the imaginary value and the flat value, according to the average price of 300 yuan, Wang Nuo can buy 233 contracts, no matter how you say it, it is about 200.

The daily trading volume of the 50ETF options market is about 200,000 or 300,000 contracts, of which the buying and selling ratio is almost 100 to 85, that is, the trading volume of call options is 160,000 contracts per day.

Then the call options are also divided into four months and ...... A large number of price grades, the exercise price is a grade at 2330, a grade at 2335, and a grade at 2685 near the current price.

On average, there are dozens of orders in the trading order of each contract code, which is considered normal.

What Wang Nuo wants to buy is 50ETF to buy 2685 in July, 50ETF to buy 2685 in August, 50ETF to buy 2685 in September and 50ETF to buy contracts around 2685 in September.

"The daily turnover of the premium is one or two hundred million, and 70,000 is also three or four ten-thousandths. Wang Nuo thought silently in his heart: "The funds that can be accommodated in the options market are much less than those in the futures market." ”

"But it's also a good place to make start-up capital!" said Wang Nuo with a smile on his face.

As long as he is familiar with this market, the next time there is such an opportunity, Wang Nuo will definitely not let it go.

Wang Nuo is looking forward to a better future here, but on the side of Wanli Financial Research Institute, Yao Shuliang and Zhou Minghai almost didn't bite their tongues.

"Crazy! Crazy! Does this kid know what he's doing? At-the-money and out-of-the-money options, how can there be value in absorbing open positions!" Yao Shuliang looked at a few lots of options contracts in his mobile phone that were quickly traded and opened, and then looked at the dazzling strike price, he almost couldn't hold back and wanted to sell these contracts back quickly.

"This is Arnold's so-called optimism about the market outlook?" Zhou Minghai sat in the office, his face was full of astonishment, his thinking was a little confused, and after coming back to his senses, he smiled bitterly: "Sure enough, I am very optimistic, and...... Is this where you raise a million?"

The exercise price is 2.686 yuan, and the premium required for the 50ETF option contract to be delivered in July is about 268 yuan, which is 1%.

Then the result of the calculation is: 50 ETF funds will reach 2.7146 yuan per share, and Wang Nuo will not lose, that is, it needs to increase by more than 1%.

The stock market is now down 2%, Wang Nuo is optimistic about the market outlook, so ...... Of course, he is optimistic that he will stop falling and rise again, and as long as the stock market is red, he will definitely make money, and he will make a lot of money.

The constituent stocks of the 50ETF are all blue-chip, and the trend curve almost overlaps with the stock market, even if it is only 2% back, it will reach around 2.7397 yuan.

The exercise price of the contract in Wang Nuo's hand will probably be around 2.686 yuan on average, and the profit and loss point will be around 2.7146 yuan, that is, what he can earn is 251 yuan per contract, counting his 200 contracts, which is 50,000 yuan!

Above 2.7146 yuan, for every 0.0001 yuan increase, Wang Nuo earned more than 200 yuan.

Looking back, if Wang Nuo buys a real-value contract, assuming that he can get 70 contracts, assuming that there is no big cost in terms of time cost, the expected profit and loss point will be 2.6870 yuan.

is also popular, the number that Wang Nuo can earn from real-value contracts is 36,890 yuan, and it is better to buy out-of-the-money contracts.

Moreover, the price of 50 ETF rises back, and the more it returns, the more Wang Nuo's operation method will earn more than buying real-value contracts.

"This kid ......" Every financial analyst is a math expert, Zhou Minghai calculated the data a little, and couldn't help sighing: "The heart is really big, and I am really confident!"

"In society, I am Brother Nuo, and people don't talk much. Yao Shuliang also urinated a few drops to show respect for his apprentice.

Wang Nuo will lose money into a dog, and if the price drops some more, Wang Nuo's 70,000 yuan is equivalent to a total loss.

This is the options market, the small profit is big, but the risk is also large, out of 100 people, 99 are losing, only the winner takes all.

Zhou Minghai and Yao Shuliang are not optimistic, but they feel that it is too dangerous, the profit and loss margin is too exaggerated, and the stock market is not rising, and if it does not rise, it will die.

If the currency exchange rate does not adjust as expected, it means that the official has no plan to stimulate the economy at the cost of increasing risks, and it means that the stock market is now at the top, and it should fluctuate downward for a long time to come.

Wang Nuo is going to lose so much that there is not even a single hair left.

But that's exactly where the beauty of out-of-the-money options lies, death or madness.

"236 contracts, July and August contracts accounted for more than 90%, the average strike price was 2.6855 yuan, the average premium was 296 yuan, the profit and loss point was 2.7151 yuan, and the current price of 50ETF was ......"

"$2.679, downward trend. ”

In the office, Ye Yaohua subconsciously reported an offer to Wang Nuo, but the situation was really not optimistic.

Now the whole Asia-Pacific region is falling, Europe and the United States have not yet opened the stock market, and China wants to stand alone, and the pressure can be imagined.

Unfortunately, China's stock market rose sharply in the second quarter, but the support for the rally was too unrealistic, and the renminbi depreciated slightly on the first day of the third quarter, which means that the world is bearish on China's stock market.

But foreigners are foreigners, only Chinese know what China thinks, the more times like this, the more the country will not let the stock market collapse, either hold on to the decline of 2%, or a strong counteroffensive, today there is no third option.

After today, maybe the stock market will enter a state of ups and downs, but from today, every day after that, investors can look forward to the moment when red capital makes up its mind.

Entering now, or later, represents how much pressure China is prepared to bear, and it also represents ...... How big is the appetite of the Eastern Dragon.

The earlier you enter, the stronger your attitude.

"If you enter the market today, a 2% drop is nothing at all, and a 2% rise is a matter of minutes. Ye Yaohua thought silently in his heart.

"If the stock market continues to fall, the renminbi should continue to depreciate, but the renminbi appreciated in July, which means ......" Wang Nuo thought about everything clearly, but he was determined in his heart: "It's just these days......!

"It's today!"