“铜博士”屡创新高催生套保热制造企业期权策略实现降本600万元

Core Insights - The price of copper has been rising significantly, with Shanghai copper futures surpassing 86,000 yuan/ton, impacting the manufacturing sector [1] - Companies like Chint Electric are utilizing flexible hedging strategies to convert price volatility risks into cost reduction and efficiency gains [1][2] Group 1: Company Strategies - Chint Electric has adopted a procurement settlement mechanism of "weekly average + floating trigger adjustment" to stabilize supply chains while managing cost control amidst price fluctuations [2] - Since 2021, Chint Electric has initiated hedging operations, initially focusing on futures and later exploring options to create a more flexible risk management system [2][3] Group 2: Options Strategy Effectiveness - Chint Electric has implemented a "cash-settled put option" strategy to manage copper price fluctuations, allowing for cost optimization while retaining the ability to purchase at lower prices if the market drops [3][4] - The strategy has proven effective, with the company selling put options corresponding to 8,000 tons of copper and generating approximately 6 million yuan in premium income during a period of price stability [4] Group 3: Risk Management and Experience - Chint Electric has developed three mature strategies for options: selling put options for cost optimization, bull spread strategies for moderate price increases, and covered call strategies to enhance returns while holding futures [5] - The company emphasizes the importance of market analysis, risk control, gradual innovation, and the combined use of financial tools in its approach to options trading [6]