中國股市上漲造就ETF選擇權交易量大增
https://www.reuters.com/article/us-china-markets-options/china-investors-catch-option-fever-prompting-regulator-warnings-idUSKCN1QW18G
Growing interest in China’s equity option market came after a contract soared as much as 19,267 percent in a single session last month.Data from the Shanghai Stock Exchange shows that the number of open contract positions in the ChinaAMC 50 ETF exceeded 3 million for the first time on record this week as investors hope to take advantage of the equity bull run to land huge profits.An option gives investors the right to buy or sell the underlying asset at a set price on a specific date. The ChinaAMC 50 ETF tracks the SSE 50 index, dubbed China’s “nifty fifty index”, which has risen more than 20 percent this year.
Zhang Yi, an options analyst at Everbright Futures Co Ltd, said that a buoyant stock market has driven investor hopes of making a quick fortune.
“Some investors are jumping into the options market, without understanding the basics of this instrument, such as what the time value of an option is.”
The speculation has prompted a warning from the Shanghai Stock Exchange.
In a statement on March 8, the exchange noted large volumes, open positions, and price fluctuations on option contracts, and warned investors of the risk that the time value of the option would rapidly diminish ahead of its expiry.
The price of the 3 yuan call option expiring March 27 plunged more than 22 percent on Friday to 0.0052 yuan.
Despite the recent frenzy, Zhang said the words of caution from regulators and stringent risk-management rules in place mean that that there is little risk of a dangerous option bubble. 上證50ETF的個股選擇權,去年上半年個人曾花了點時間去了解以後,很遺憾的是,目前還沒有適合台灣人交易的空間,雖然目前市場已經交易熱絡許多,流動性不成問題了,但有三點不適合選擇權策略交易的各位.........
1. 目前沒開放外人或台港澳三地的自然人開戶,所以想參與市場就必須使用人頭,這是有
風險的,個人不建議這樣做.
2. 新開倉的選擇權履約價,只有價外四檔跟價內四檔加上價平履約價共9檔,履約價太少,不
適合策略單交易布單的建立或調整.(近期有沒有增加履約價序列,個人很久沒再追蹤了)
3. 履約價的間隔太大,之前了解時,約指數的1.8%,才有一個履約價,不像台選的0.5%,或SP
的0.18%就有履約價可建倉,同樣的不利策略單交易的建立.
綜合以上的因素,目前大陸的指數選擇權還不適合策略交易的人進場交易,但若人頭戶的
風險可解決,喜歡純粹賭多空的人,倒是可以試試,應該比台選刺激
www.sse.com.cn/assortment/options/contract/c/c_20151016_3999892.shtml
上海證券交易所的上證50ETF期權交易遊戲規則,請參考 另外大陸還有商品期權的商品,目前有白糖,豆粕,銅等三項,不過除了上列的不適合交易因素外,還有一個重大因素........流動性不足,所以還是不建議交易 對。以華廈上證50ETF選擇權的未平倉3百萬口來說，不算高，但絕對比台灣目前的未平倉50萬口多了五、六倍。期待CSI300真正的指數選擇權出來，才對我們比較有意義。不過，如果你是台灣人，成立一個私募基金或在中國成立一家公司，應該也可以交易上證50選擇權才對。
他們交易選擇權要經過三關考試，過了三關才可以裸賣，台灣應該也這樣幹，哈哈，考試是最好的KYC。 感謝分享投資心得
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