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股指期货策略早餐-20250604
Guang Jin Qi Huo·2025-06-04 11:52

Financial Futures and Options Stock Index Futures - Investment Rating: Intraday - Slightly Strong in Volatility; Medium - Term - Accumulating Strength for an Uptrend [1] - Core View: Overseas, US tariff news is inconsistent, causing disturbances to the equity market. Domestically, policies to stabilize and activate the capital market are introduced, which is beneficial for the A - share market. In the short - term, the market may remain volatile, but there is support from policies, and attention should be paid to structural allocation opportunities [1][2] - Reference Strategy: Exit the long IF2506 and short IM2506 hedging portfolio, hold long IF2506 positions, and sell the MO2506 - P - 5800 out - of - the - money put option [1] Treasury Bond Futures - Investment Rating: Intraday - Strong in Volatility; Medium - Term - Strong [3] - Core View: Overseas, the fluctuating US tariff situation drives funds to risk assets. The inter - bank market is loose, and the deposit rate cut is beneficial for the long - end bond market in the medium - to - long - term. Attention should be paid to the large - scale CD maturities in June [4] - Reference Strategy: Hold long positions in T2509 or TL2509 [3] Commodity Futures and Options Aluminum - Investment Rating: Intraday - Range - bound; Medium - Term - High - level Operation [5] - Core View: The continuous decline in social inventory and the good performance of the automobile market are positive for aluminum prices, while the general decline in non - ferrous metals is negative [5][6] - Reference Strategy: Hold the short position of AL2507 - P - 19300 [5] Black and Building Materials Sector Rebar and Hot - Rolled Coil - Investment Rating: Intraday - Steel Prices Weak; Medium - Term - Steel Prices Under Pressure [8] - Core View: The raw material inventory of steel has a large pressure, and the downstream consumption of steel is poor, so the upward driving force of steel prices is insufficient [8][9] - Reference Strategy: Continue to sell the call options of rebar RB2510 (exercise price 3300 - 3450) [8]