Options refer to a contract, which is derived from the US and European markets in the late eighteenth century. The contract gives the holder at a certain date or before that day. Essence The objectives of options refer to assets that choose to buy or sell. It includes stocks, government bonds, currencies, stock indexes, commodity futures, etc. Options are "derivative" of these subjects, so they are called derivative financial instruments. The attention is that options seller may not have the assets of the target. Options can be "short -selling". Options buyers do not necessarily really want to buy asset targets. Therefore, when the options expire, the two parties do not necessarily conduct the physical delivery of the subject matter, but only need to make up the price at a price difference.
Extension information: In the price of assets used to buy and sell bids when exercising options. In the options of most transactions, the target asset price is close to the exercise price of options. The exercise prices have clear regulations in option contracts, which are usually given by the exchange in accordance with certain standards to reduce, so the options of the same target have several different prices. In general, when a certain option is first traded, each option contract will give several different execution prices at a certain distance, and then increase the timely increase according to the change of the asset of the target. Is how many execution prices for each option depends on the price fluctuation of the target asset. When investors buy and sell options, the general principles for the choice of price selection are: to choose active execution prices for transactions near the target asset price.
Today I will learn the new tools in the securities market with you -stock options! The theme sharing today: . Definition of options . The access conditions for options investors . Option account opening and transaction Fourth, common issues of options transactions
The first piece, let's first look at the definition of options
If of which we are chewing in the bite, the period It means the future, and power is the meaning of rights. This rights together are the rights of the future.
Is we can make it want to make an insurance. Stock options are like insurance in the securities market. The relationship between buyers and sellers is like an insured person and an insurance company. For example, the car insurance that everyone knows: The insured is the buyer, and the insurance company was delivered to the insurance company at first. During the insurance period, when there is a problem with a car, the seller can request a claim from the insurance company. The seller of the options first charged insurance premiums, that is, the right to options. During the insurance period, when the insurance target occurs, the buyer can exercise its own rights and ask the insurance company to pay. And because the insurance company has charged the insurance premium, it means paying with the buyer. So you can see that the definition of options is that options are contracts reached by the trading parties on future trading rights. The buyers of options, that is, the rights party pays a certain fee by the seller, that is, the voluntary party. This cost is also the right. He paid the rights and obtained a right, that is, the right to buy or sell a specific stock or ETF of the agreed amount at the agreed price at the agreed time and the agreed price.
It let's take a look at the examples in real life! The rights of buyers and sellers are used as an example: The subscription options: We use floor flowers as an example. The issuer of building flowers is generally real estate developers. In order to determine customers, he will allow customers to pay a deposit, such as 100,000 yuan, locking in house prices for a period of time, such as 2 million. During this period, if the property price rose sharply to 3 million, then the buyer could have the right to buy a house at the agreed price; if the property price fell sharply, such as falling to 1 million, the buyer could give up a deposit of 100,000 deposits 100,000 , Buy a house at a market price of 1 million. This storage options in reality are that the government will announce the minimum grain purchase price to farmers. When the market is not good, farmers can lock the lowest selling price. If the market is good, farmers can sell food to other buyers.
So everyone knows the subscription put, just remember the formula. "Subscribe to lock in the buying price, that is, the buyer has the right to buy. This locking the selling price, that is, the buyer's right to sell."
The second piece, the admission conditions of options
First look at the access conditions of personal customers: The first is rich, that is, customers Twenty days before opening an account, the assets of our company reached more than 500,000 yuan. The second is qualifications. Customers have opened their ordinary accounts for more than six months and have two merger accounts in the market. Trading experience. It with analog trading experience, customers can participate in option simulation transactions by opening option simulation trading accounts. The fourth risk tolerance, personal customers require risk tolerance to C3 and above, and the validity period is more than one year. The fifth option test results, customers can pass the business department of the option examination, or participate in the on -site training of the options lectures organized by our company to follow the Stock Exchange. The sixth, no bad integrity records.
It again to look at the access of institutional customers P first look at ordinary institutional customers. Is to summarize, we must have four or one: The first money, two 1 million restrictions, not only requires customers to custody 20 days before the account opening For more than 10,000 yuan, it is also required to have a recent net assets of more than 1 million yuan at the end of the previous quarter. The second with analog transaction experience. The third has risk tolerance capabilities. It requires institutional customer risk tolerance to C4 and above, and the validity period reaches more than one year. The fourth right to test results. Fifth no bad integrity record.
is the access condition for professional institutions. As long as the customer can provide the regulatory filing certificate document issued by the regulatory agency.
third block, option account opening and transaction
n first look at the process of option opening First of all, we need to educate customers. Including but not limited to the explanation of the differences between trading rules, contract risks and differentians in Shanghai and Shenzhen. Then open option simulation trading accounts for customers and organize customers to participate in the exchange test of the exchange. Then the option commissioner checks whether the customer meets the access conditions for options. If the relevant certification documents submitted by the client are satisfied with the relevant personnel of the business department, they can record the recording and sign relevant account opening materials for customers on the spot. However, it is necessary to clearly inform customers that the relevant account opening materials need to be reviewed by the headquarters before it can take effect. In the next, the business department initiates the appropriate approval process for customers. In relevant personnel of the headquarters, the counter can open an option account for customers and send a successful text message and email reminder in real time. The content of the SMS is basically informing the customer that the account opening is successful. Customers can go to the business department or bank for business signing. For individual customers, after the account opening is completed, the business department also needs to initiate the application for approval process for customers. After the customer's purchase quota approval is approved, the customer can use the deposit to conduct normal options transactions.
In the following introduces the way to open an account The customers who open accounts need to be opened in the cabinet, but if the Shanghai city option account has been opened, customers can line Apply to open an option account of Shenzhen City.
is about purchase restriction and position adjustment The customer application method on site and non -on -site. First, for the newly opened customers, the rights warehouse will be set to 100 according to the requirements of the exchange; if the customer trades for a period of time and meets the relevant conditions, the customer's rights warehouse will be automatically adjusted to 1,000 pieces. The child does not need to apply for the initiative. But if customers want a higher power warehouse, if it is 2,000 or 5,000, the customer needs to apply for the initiative. Among them, when applying for 5,000 in Shanghai Rights Warehouse, you need to report it to the Shanghai Stock Exchange on a trading day in advance. Secondly, the purchase limit of individual customers The personal investors who are newly opened currently set up 10%of the account assets of account assets before the account opening of account opening before opening an account. 10,000 yuan is taken up, and the validity period is the end of the year. In addition, according to the requirements of foreign regulations, securities companies need to adjust their buying quotas for customers each natural year. Adjustment is subject to the announcement of the official website of the securities company. If the customer wants to apply for a higher percentage of buying quota during this period. For example, when the account's own assets are 20%or 30%, customers need to apply for relevant conditions to actively apply. Third, the Limit of Shenzhen City's holdings The consolidation calculation of all option accounts corresponding to all option accounts corresponding to the same Shenzhen A ordinary account. So when the customer has several subscribed accounts in the market in the market, the deep -city contract that may have transactions may not exceed the position of the position, but if all the trading account holds the cumulative positions exceeding the exchanges' limited positions and currently Single, then the waste order will be returned in real time.
For transaction permissions For individual investors, transaction permissions are divided into three levels, which are first, second, and third. The first -level investors can only buy the contract or put the option to open the position in the general account. The second -level investors increased their buying, opening, selling, and liquidation rights on the basis of first -level investors. The third -level investors add margin sales, open positions, and liquidation authority on the basis of first -level and secondary investors.
In the following, let's know the bond risk of deposit facing in the third level investors. The margin collection is a certain percentage on the basis of the exchange margin. Illow risk degree = real -time price margin calculated based on the level of margin ➗ Total amount of margin The real -time risk degree of the exchange = the real -time price margin calculated according to the trading deposit level When the real -time risk is higher than the early warning line of 85%, the system will automatically send an early warning notice. Is when the customer's implementation risk is higher than the 100%pursuit line in the disk, the system will automatically restrict the opening of the position, including buying open warehouses and selling positions, and will prompt customers to chase the insurance with SMS and email. If the customer continues to rise at this time, it may trigger a timely closing line. If the real -time risk of the exchange in the disk is higher than the instant closure line, the system will automatically issue a "mandatory closure warning notice", which requires customers to pursue insurance within the agreed time on the same day. Is when the risk is 100%higher than the after -trading, it will be required to enter the gold or liquidation before 10:30 on the T 1, so that the real -time risk does not exceed 100%, otherwise it will be flat. If the risk after the plate is higher than the liquidation line of the exchange, it is required to increase the price T 1 on the 1th day; before 30, or the liquidation will make the real -time risk of not more than 100%, otherwise the strong flat will be immediately started.
In 4, common problems of options transactions
n During the transaction of option customer transaction:
. The problem of opening the position 1. The status of the shareholders' account is not right
2. The number of tanks is zero This because of the need to hold the open positions requires ordinary accounts to hold spot target securities. It, it is necessary to lock the underlying the underlying securities in advance when making the warehouse in the Shanghai Stock City. 3, the available buying quota is insufficient Is when individual account opening, the purchase quota is 10%of the account's own assets. If the customer's buying and opening positions exceeds the available buying amount, the new purchase amount can be released through the flat rights warehouse, or the application is applied to increase the purchase amount. 4, holding the position exceeding the limit The new customers including individual and institutional rights warehouses are 100. If the customer places the position and open positions to display the holding line, you can apply for a new position through the position or meet the conditions. 5, the available funds are insufficient The customer can solve it by deposit. 6. The real -time risk value exceeds the risk value of the limited position . At present, when the front -end control of the system is controlled, if the risk of implementation or the real -time risk entrustment is higher than the risk of 100%, it cannot continue to continue New position. At this time, you can add a deposit, such as liquidation or deposit to solve. 7. Regarding the number of entrustment The exchanges trading rules, the upper limit of the customer's limited single entrustment is 50. The upper limit of a single entrustment of the market price is 10. If the customer wants to commission a commission, exceeding the above limit, you need to set the menu function through the software client to solve it.
. The problem of liquidation 1. Unable to prepare the position when encountering the inability to prepare the position Essence 2, unable to flatten the rights warehouse Is when encountering the right of rights, mainly because when selling liquidations, if the sales income cannot cover the relevant costs. The system will intercept the front end and cannot close the position.
. Exhancement issues 1. When the number of exercise available is not in line with the actual position, for example, the customer has the number of rights of the rights warehouse for the month, but the number of exercise is 0 or the line is 0 or the line of travel The number of rights can not be held in the actual number of rights. It is basically because of the volunteer warehouse or preparation of the same contract. The above -mentioned holding day will be automatically hedged, or it may be caused by insufficient subscribed permitting funds. 2. The failure of the storage rights and warehouses failed, mainly because after the submission of the storage rights, it was not prepared for a full amount of the subject securities in ordinary accounts. 3, exercise and credit issues. The money for exercise is prepared through the option account. Stocks and stocks obtained by deposits are prepared and sold through ordinary accounts.
. Other problems 1. Regarding liquidated damages If two years of cumulative receipt of receivable rights breach of contract, or forced liquidation. For individual customers, they will actively lower the customer's transaction authority. If it is an institutional customer, it will take restrictions on the opening of the position and require customers not to apply for recovery within half a year. 2, the appointment of large amount of gold The current option contract stipulates 1 million. If the cumulative amount of gold exceeds 1 million on the day, you need to make an appointment one in advance.
The share of today's sharing, thank you for reading! If you have a little help to understand the right to understand the period, please help me like it ~ The knowledge of other sections you want to know, please leave me a message and private message ~
Options refer to a contract trading at a certain time to buy and sell a contract at a certain time. The specific explanation is that after buying the seller to pay a certain fee, the right to buy or sell a certain amount of specific assets at a specific price during a certain period of time, and the seller must fulfill the corresponding obligations. The cost of the contract is rights, and the rights are limited, and the expiration is abolished. The buyer has the right to, the seller has the obligation, the specific price is the exercise price. S specific assets can be stocks, bonds, indexes, and commodity futures. The judgment of the contract is to see the future trend is rising or falling. It is also a speculative behavior to make a difference through a contract. This is also a speculative behavior. The expansion information: Domestic options On February 9, 2015, the Shanghai Stock Exchange 50ETF options were listed on the Shanghai Stock Exchange. It is the first domestic option variety. This not only announces the advent of China's options, but also means that my country already has a full set of mainstream financial derivatives. On March 31, 2017, soybean meal options were listed on the Dalian Commodity Exchange as the first domestic futures options. On April 19, 2017, white sugar options were traded on the Zhengzhou Commodity Exchange. On September 25, 2018, copper options were traded on the Shanghai Futures Exchange. 219, the domestic option market has developed rapidly, and the equity category has expanded the 300ETF options of the Shanghai Stock Exchange. Essence
Options refers to a contract, which stems from the US and European markets in the late eighteenth century. The contract gives the holder at a certain date or before that day. right. The main points of the definition of options are as follows: 1. Options are a right. The option contract involves at least the buyers and the seller. The holder has the right but does not assume the corresponding obligations. 2, the object of options. The target of options refers to the assets that choose to buy or sell. It includes stocks, government bonds, currencies, stock indexes, commodity futures, etc. Options are "derivative" of these subjects, so they are called derivative financial instruments. It is worth noting that options sellers do not necessarily have assets. Options can be "short -selling". Options buyers do not necessarily really want to buy asset targets. Therefore, when the options expire, the two parties do not necessarily conduct the physical delivery of the subject matter, but only need to make up the price at a price difference. 3, expiration date. The day when the options agreed by the two parties are called "expiration date". If the option can only be executed on the expiration date, it is called European options; if the options can be implemented at the expiration date and any time before, then Called American power. 4, the execution of options. The behavior of purchasing or selling the underlying assets based on the options contract is called "execution". In the option contract, the option holder is called "execution price" based on the fixed price of purchase or selling assets.
Options are a right. Objective contracts involve at least buyers and sellers. According to different types of options, holders may have rights or have obligations.
The buyer as an option (whether it is bullish or optional rights) is only right and no obligation. His risks are limited (the maximum loss of losses is rights), but theoretically profitability is infinite.
The seller as an option (whether it is bullish or optional rights) only has obligations and has no rights. In theory, his risks are infinite, but the income is limited (the maximum benefits are the rights of rights) Essence
The account opening conditions of options are "five or one", namely:
Average assets of 500,000;
Secondly, experience, 6 months of account opening at securities companies, qualifications for financing and securities, or 6 months of account opening at futures companies, and financial futures transaction experience (stock index index index indexes Futures, Treasury Futures);
third, with analog and completion of designated simulation transactions;
fourth, knowledge and knowledge testing;
Fifth, with risk tolerance, risk rating matching and evaluation time;
Sixth, no bad, non -bad records or market forbidden; n above Five conditions are mainly in the requirements of securities companies or futures companies and account opening. Choosing a sub -account institution account does not require funds and examination requirements, but there are certain requirements for transaction experience.
Options refer to a contract, which is derived from the US and European markets in the late eighteenth century. The contract gives the holder at a certain date or before that day. Essence
The objectives of options refer to assets that choose to buy or sell. It includes stocks, government bonds, currencies, stock indexes, commodity futures, etc. Options are "derivative" of these subjects, so they are called derivative financial instruments.
The attention is that options seller may not have the assets of the target. Options can be "short -selling". Options buyers do not necessarily really want to buy asset targets. Therefore, when the options expire, the two parties do not necessarily conduct the physical delivery of the subject matter, but only need to make up the price at a price difference.
Extension information:
In the price of assets used to buy and sell bids when exercising options. In the options of most transactions, the target asset price is close to the exercise price of options. The exercise prices have clear regulations in option contracts, which are usually given by the exchange in accordance with certain standards to reduce, so the options of the same target have several different prices.
In general, when a certain option is first traded, each option contract will give several different execution prices at a certain distance, and then increase the timely increase according to the change of the asset of the target.
Is how many execution prices for each option depends on the price fluctuation of the target asset. When investors buy and sell options, the general principles for the choice of price selection are: to choose active execution prices for transactions near the target asset price.
Today I will learn the new tools in the securities market with you -stock options!
The theme sharing today:
. Definition of options
. The access conditions for options investors
. Option account opening and transaction
Fourth, common issues of options transactions
The first piece, let's first look at the definition of options
If of which we are chewing in the bite, the period It means the future, and power is the meaning of rights.
This rights together are the rights of the future.
Is we can make it want to make an insurance. Stock options are like insurance in the securities market.
The relationship between buyers and sellers is like an insured person and an insurance company.
For example, the car insurance that everyone knows:
The insured is the buyer, and the insurance company was delivered to the insurance company at first. During the insurance period, when there is a problem with a car, the seller can request a claim from the insurance company.
The seller of the options first charged insurance premiums, that is, the right to options.
During the insurance period, when the insurance target occurs, the buyer can exercise its own rights and ask the insurance company to pay. And because the insurance company has charged the insurance premium, it means paying with the buyer.
So you can see that the definition of options is that options are contracts reached by the trading parties on future trading rights.
The buyers of options, that is, the rights party pays a certain fee by the seller, that is, the voluntary party. This cost is also the right. He paid the rights and obtained a right, that is, the right to buy or sell a specific stock or ETF of the agreed amount at the agreed price at the agreed time and the agreed price.
It let's take a look at the examples in real life!
The rights of buyers and sellers are used as an example:
The subscription options: We use floor flowers as an example. The issuer of building flowers is generally real estate developers. In order to determine customers, he will allow customers to pay a deposit, such as 100,000 yuan, locking in house prices for a period of time, such as 2 million. During this period, if the property price rose sharply to 3 million, then the buyer could have the right to buy a house at the agreed price; if the property price fell sharply, such as falling to 1 million, the buyer could give up a deposit of 100,000 deposits 100,000 , Buy a house at a market price of 1 million.
This storage options in reality are that the government will announce the minimum grain purchase price to farmers. When the market is not good, farmers can lock the lowest selling price. If the market is good, farmers can sell food to other buyers.
So everyone knows the subscription put, just remember the formula.
"Subscribe to lock in the buying price, that is, the buyer has the right to buy.
This locking the selling price, that is, the buyer's right to sell."
The second piece, the admission conditions of options
First look at the access conditions of personal customers:
The first is rich, that is, customers Twenty days before opening an account, the assets of our company reached more than 500,000 yuan.
The second is qualifications. Customers have opened their ordinary accounts for more than six months and have two merger accounts in the market. Trading experience.
It with analog trading experience, customers can participate in option simulation transactions by opening option simulation trading accounts.
The fourth risk tolerance, personal customers require risk tolerance to C3 and above, and the validity period is more than one year.
The fifth option test results, customers can pass the business department of the option examination, or participate in the on -site training of the options lectures organized by our company to follow the Stock Exchange.
The sixth, no bad integrity records.
It again to look at the access of institutional customers
P first look at ordinary institutional customers.
Is to summarize, we must have four or one:
The first money, two 1 million restrictions, not only requires customers to custody 20 days before the account opening For more than 10,000 yuan, it is also required to have a recent net assets of more than 1 million yuan at the end of the previous quarter.
The second with analog transaction experience.
The third has risk tolerance capabilities. It requires institutional customer risk tolerance to C4 and above, and the validity period reaches more than one year.
The fourth right to test results.
Fifth no bad integrity record.
is the access condition for professional institutions. As long as the customer can provide the regulatory filing certificate document issued by the regulatory agency.
third block, option account opening and transaction
n first look at the process of option opening
First of all, we need to educate customers. Including but not limited to the explanation of the differences between trading rules, contract risks and differentians in Shanghai and Shenzhen.
Then open option simulation trading accounts for customers and organize customers to participate in the exchange test of the exchange.
Then the option commissioner checks whether the customer meets the access conditions for options. If the relevant certification documents submitted by the client are satisfied with the relevant personnel of the business department, they can record the recording and sign relevant account opening materials for customers on the spot. However, it is necessary to clearly inform customers that the relevant account opening materials need to be reviewed by the headquarters before it can take effect.
In the next, the business department initiates the appropriate approval process for customers.
In relevant personnel of the headquarters, the counter can open an option account for customers and send a successful text message and email reminder in real time. The content of the SMS is basically informing the customer that the account opening is successful. Customers can go to the business department or bank for business signing.
For individual customers, after the account opening is completed, the business department also needs to initiate the application for approval process for customers. After the customer's purchase quota approval is approved, the customer can use the deposit to conduct normal options transactions.
In the following introduces the way to open an account
The customers who open accounts need to be opened in the cabinet, but if the Shanghai city option account has been opened, customers can line Apply to open an option account of Shenzhen City.
is about purchase restriction and position adjustment
The customer application method on site and non -on -site.
First, for the newly opened customers, the rights warehouse will be set to 100 according to the requirements of the exchange; if the customer trades for a period of time and meets the relevant conditions, the customer's rights warehouse will be automatically adjusted to 1,000 pieces. The child does not need to apply for the initiative. But if customers want a higher power warehouse, if it is 2,000 or 5,000, the customer needs to apply for the initiative. Among them, when applying for 5,000 in Shanghai Rights Warehouse, you need to report it to the Shanghai Stock Exchange on a trading day in advance.
Secondly, the purchase limit of individual customers
The personal investors who are newly opened currently set up 10%of the account assets of account assets before the account opening of account opening before opening an account. 10,000 yuan is taken up, and the validity period is the end of the year. In addition, according to the requirements of foreign regulations, securities companies need to adjust their buying quotas for customers each natural year. Adjustment is subject to the announcement of the official website of the securities company. If the customer wants to apply for a higher percentage of buying quota during this period. For example, when the account's own assets are 20%or 30%, customers need to apply for relevant conditions to actively apply.
Third, the Limit of Shenzhen City's holdings
The consolidation calculation of all option accounts corresponding to all option accounts corresponding to the same Shenzhen A ordinary account.
So when the customer has several subscribed accounts in the market in the market, the deep -city contract that may have transactions may not exceed the position of the position, but if all the trading account holds the cumulative positions exceeding the exchanges' limited positions and currently Single, then the waste order will be returned in real time.
For transaction permissions
For individual investors, transaction permissions are divided into three levels, which are first, second, and third.
The first -level investors can only buy the contract or put the option to open the position in the general account.
The second -level investors increased their buying, opening, selling, and liquidation rights on the basis of first -level investors.
The third -level investors add margin sales, open positions, and liquidation authority on the basis of first -level and secondary investors.
In the following, let's know the bond risk of deposit facing in the third level investors.
The margin collection is a certain percentage on the basis of the exchange margin.
Illow risk degree = real -time price margin calculated based on the level of margin ➗ Total amount of margin
The real -time risk degree of the exchange = the real -time price margin calculated according to the trading deposit level When the real -time risk is higher than the early warning line of 85%, the system will automatically send an early warning notice.
Is when the customer's implementation risk is higher than the 100%pursuit line in the disk, the system will automatically restrict the opening of the position, including buying open warehouses and selling positions, and will prompt customers to chase the insurance with SMS and email. If the customer continues to rise at this time, it may trigger a timely closing line.
If the real -time risk of the exchange in the disk is higher than the instant closure line, the system will automatically issue a "mandatory closure warning notice", which requires customers to pursue insurance within the agreed time on the same day.
Is when the risk is 100%higher than the after -trading, it will be required to enter the gold or liquidation before 10:30 on the T 1, so that the real -time risk does not exceed 100%, otherwise it will be flat.
If the risk after the plate is higher than the liquidation line of the exchange, it is required to increase the price T 1 on the 1th day; before 30, or the liquidation will make the real -time risk of not more than 100%, otherwise the strong flat will be immediately started.
In 4, common problems of options transactions
n During the transaction of option customer transaction:
. The problem of opening the position
1. The status of the shareholders' account is not right
2. The number of tanks is zero
This because of the need to hold the open positions requires ordinary accounts to hold spot target securities.
It, it is necessary to lock the underlying the underlying securities in advance when making the warehouse in the Shanghai Stock City.
3, the available buying quota is insufficient
Is when individual account opening, the purchase quota is 10%of the account's own assets.
If the customer's buying and opening positions exceeds the available buying amount, the new purchase amount can be released through the flat rights warehouse, or the application is applied to increase the purchase amount.
4, holding the position exceeding the limit
The new customers including individual and institutional rights warehouses are 100. If the customer places the position and open positions to display the holding line, you can apply for a new position through the position or meet the conditions.
5, the available funds are insufficient
The customer can solve it by deposit.
6. The real -time risk value exceeds the risk value of the limited position
. At present, when the front -end control of the system is controlled, if the risk of implementation or the real -time risk entrustment is higher than the risk of 100%, it cannot continue to continue New position. At this time, you can add a deposit, such as liquidation or deposit to solve.
7. Regarding the number of entrustment
The exchanges trading rules, the upper limit of the customer's limited single entrustment is 50. The upper limit of a single entrustment of the market price is 10.
If the customer wants to commission a commission, exceeding the above limit, you need to set the menu function through the software client to solve it.
. The problem of liquidation
1. Unable to prepare the position
when encountering the inability to prepare the position Essence
2, unable to flatten the rights warehouse
Is when encountering the right of rights, mainly because when selling liquidations, if the sales income cannot cover the relevant costs. The system will intercept the front end and cannot close the position.
. Exhancement issues
1. When the number of exercise available is not in line with the actual position, for example, the customer has the number of rights of the rights warehouse for the month, but the number of exercise is 0 or the line is 0 or the line of travel The number of rights can not be held in the actual number of rights. It is basically because of the volunteer warehouse or preparation of the same contract. The above -mentioned holding day will be automatically hedged, or it may be caused by insufficient subscribed permitting funds.
2. The failure of the storage rights and warehouses failed, mainly because after the submission of the storage rights, it was not prepared for a full amount of the subject securities in ordinary accounts.
3, exercise and credit issues. The money for exercise is prepared through the option account. Stocks and stocks obtained by deposits are prepared and sold through ordinary accounts.
. Other problems
1. Regarding liquidated damages
If two years of cumulative receipt of receivable rights breach of contract, or forced liquidation.
For individual customers, they will actively lower the customer's transaction authority.
If it is an institutional customer, it will take restrictions on the opening of the position and require customers not to apply for recovery within half a year.
2, the appointment of large amount of gold
The current option contract stipulates 1 million. If the cumulative amount of gold exceeds 1 million on the day, you need to make an appointment one in advance.
The share of today's sharing, thank you for reading!
If you have a little help to understand the right to understand the period, please help me like it ~
The knowledge of other sections you want to know, please leave me a message and private message ~
Options refer to a contract trading at a certain time to buy and sell a contract at a certain time. The specific explanation is that after buying the seller to pay a certain fee, the right to buy or sell a certain amount of specific assets at a specific price during a certain period of time, and the seller must fulfill the corresponding obligations.
The cost of the contract is rights, and the rights are limited, and the expiration is abolished.
The buyer has the right to, the seller has the obligation, the specific price is the exercise price.
S specific assets can be stocks, bonds, indexes, and commodity futures.
The judgment of the contract is to see the future trend is rising or falling. It is also a speculative behavior to make a difference through a contract. This is also a speculative behavior.
The expansion information: Domestic options
On February 9, 2015, the Shanghai Stock Exchange 50ETF options were listed on the Shanghai Stock Exchange. It is the first domestic option variety. This not only announces the advent of China's options, but also means that my country already has a full set of mainstream financial derivatives.
On March 31, 2017, soybean meal options were listed on the Dalian Commodity Exchange as the first domestic futures options.
On April 19, 2017, white sugar options were traded on the Zhengzhou Commodity Exchange.
On September 25, 2018, copper options were traded on the Shanghai Futures Exchange.
219, the domestic option market has developed rapidly, and the equity category has expanded the 300ETF options of the Shanghai Stock Exchange. Essence
Options refers to a contract, which stems from the US and European markets in the late eighteenth century. The contract gives the holder at a certain date or before that day. right. The main points of the definition of options are as follows:
1. Options are a right. The option contract involves at least the buyers and the seller. The holder has the right but does not assume the corresponding obligations.
2, the object of options. The target of options refers to the assets that choose to buy or sell. It includes stocks, government bonds, currencies, stock indexes, commodity futures, etc. Options are "derivative" of these subjects, so they are called derivative financial instruments. It is worth noting that options sellers do not necessarily have assets. Options can be "short -selling". Options buyers do not necessarily really want to buy asset targets. Therefore, when the options expire, the two parties do not necessarily conduct the physical delivery of the subject matter, but only need to make up the price at a price difference.
3, expiration date. The day when the options agreed by the two parties are called "expiration date". If the option can only be executed on the expiration date, it is called European options; if the options can be implemented at the expiration date and any time before, then Called American power.
4, the execution of options. The behavior of purchasing or selling the underlying assets based on the options contract is called "execution". In the option contract, the option holder is called "execution price" based on the fixed price of purchase or selling assets.
Options are a right. Objective contracts involve at least buyers and sellers. According to different types of options, holders may have rights or have obligations.
The buyer as an option (whether it is bullish or optional rights) is only right and no obligation. His risks are limited (the maximum loss of losses is rights), but theoretically profitability is infinite.
The seller as an option (whether it is bullish or optional rights) only has obligations and has no rights. In theory, his risks are infinite, but the income is limited (the maximum benefits are the rights of rights) Essence
The account opening conditions of options are "five or one", namely:
Average assets of 500,000;
Secondly, experience, 6 months of account opening at securities companies, qualifications for financing and securities, or 6 months of account opening at futures companies, and financial futures transaction experience (stock index index index indexes Futures, Treasury Futures);
third, with analog and completion of designated simulation transactions;
fourth, knowledge and knowledge testing;
Fifth, with risk tolerance, risk rating matching and evaluation time;
Sixth, no bad, non -bad records or market forbidden;
n above Five conditions are mainly in the requirements of securities companies or futures companies and account opening. Choosing a sub -account institution account does not require funds and examination requirements, but there are certain requirements for transaction experience.