Category: Money tips Release Date: 2007-03-17
Volume was unusually hot forward contracts of 0706, after the largest trading desks --- Shanghai mid-range air-control measures are carried out, the last Friday has been markedly improved. Volume shrinkage of the day 0706 to 54048 contracts in hand, only the recent 0612 contract of 213,658 hand quarter. However, investors began to focus its attention to the 0612 contract, but also the emergence of new issues, namely futures and spot prices fairly far behind.
"Thursday margin unexpectedly high, I no time to prepare for the day after lighten up on their own losses, but Friday the contract in the near future also paid a painful price." Zhang Biao said. The Zhang Biao was finally used to make long-term contracts has started recently, but in the afternoon of Friday, particularly the 14 o'clock or so, Shanghai and Shenzhen 300 Index sharply diving, the futures price declines did not appear too big. Until the close of the spot market, the Shanghai and Shenzhen 300 index for 1729 points, but the futures prices have been hovering around 1770 points, and eventually closed at 1770 points, with the difference to 41 points.
No matter in accordance with the percentage or the absolute price gap, 41 points or more than 2% of the deviation both made their mark since the maximum simulation transactions. That the price difference is too large, Zhang Biao had been shorting a result, suffered heavy losses. "0612 signed today Masukura more than 10,000 hands, reaching 85442 hand, is not focused on speculative funds into the contract due?" Lao Zhang asked. "In accordance with first-hand margin of about 50,000 yuan terms of the contract the same day in 0612 added the virtual capital of 5 million, this species may also have risks, we need to attach great importance," Qian Duoduo analysis. "Why is there risk?" Mr. Chang asked, puzzled. "Remember yesterday, warning that the risk of exchange to implement the system do, I've done some research, when an exception occurs futures prices and spot or futures price when the price gap is too large, the transaction issued a risk warning notice of ownership," Qian Duoduo said, "Maybe Investors are very optimistic about the future for some time in Shanghai and Shenzhen 300 stock trends, so do more focused on the 0612 contract, which are suspected of excessive speculation, I feel the day's body should be doing arbitrage disk will not be successful because in theory, futures prices should be down, but in fact did not fall. "
Simulation of the Shanghai and Shenzhen 300 Index futures trading price list (December 1, 2006)
Note: The settlement price for futures trading the last hour weighted average price, expiration date for the spot market, the arithmetic average price of the last two hours.
