作为投资者，你是否曾遇到这样的困扰？——好不容易找到一只看空的股票，结果它却在底部徘徊，使你的空 头仓位 价值不高，但平仓又觉得可惜 。 更提 心吊胆的是，万一它突然反弹，亏损可能大幅扩大。 有没有一种策略， 能让你的空头仓位在横盘震荡时也产生收益，同时为暴涨风险上好'保险' ？今天介绍的 Short Collar 策略，或许正是你的答案。 Short Collar - 不博股票涨跌、风险小收益小的平衡型策略 策略组成: 已做空正股 + 卖出对应股数的虚值OTM看跌期权Put + 买入对应股数的虚值OTM看涨期权Call，两种期权到期日相同 投资意义: 当你已经 做空 了一支的股票，但是 短期上股价波动小 (横盘/小跌)，你想在 市场平稳时也能拿一点"利息"收益，同时你也想对冲股票大涨的风险 。通过 卖出Put收权利金 + 买入Call对冲上涨风险，Short Collar策略实现了这种投资需求。 策略到期盈亏图和盈亏计算公式: 一、成本和风险都低 。因为初始为权利金净收入，甚至可以说是"负成本"；且通过买Call锁定最大风险，对于做空方，股价即使暴涨，亏损也不会进一 步扩大。 点击蓝字，关注我们 红线部分代 ...

Group 1 - The core viewpoint of the article indicates an increase in short positions against the Indian Rupee, suggesting a bearish sentiment among investors [1] Group 2 - The article highlights that the short positions in the Indian Rupee have risen significantly, reflecting growing concerns about the currency's stability [1] - It mentions that this trend is influenced by various economic factors, including inflation and interest rate expectations in India [1] - The report also notes that market participants are closely monitoring the Reserve Bank of India's policy decisions, which could impact the currency's performance [1]

Report Summary 1. Market Performance - On May 28th, the four major A-share stock indices declined. The Shanghai Composite Index dropped 0.02% to 3339.93 points, the Shenzhen Component Index fell 0.26% to 10003.27 points, the ChiNext Index decreased 0.31% to 1985.38 points, and the STAR 50 Index slipped 0.23% to 970.64 points. Market trading volume was 1.0339 trillion yuan, an increase of 9.8 billion yuan from the previous day. In the industry sectors, textile and apparel (+1.17%), environmental protection (+0.89%), and coal (+0.74%) led the gains, while basic chemicals (-0.79%), agriculture, forestry, animal husbandry and fishery (-0.78%), and national defense and military industry (-0.72%) led the losses. In terms of market strength, IF > IH > IC > IM, and the number of rising/flat/falling stocks was 1,750/181/3,477 respectively. In the Shanghai and Shenzhen stock markets, institutional, main, large - scale, and retail investors had net capital inflows of -5.8 billion, -12.8 billion, 2.1 billion, and 16.5 billion yuan respectively, with changes of -2.9 billion, -1 billion, +2.5 billion, and +1.4 billion yuan respectively [2]. - On May 28th, most yields of treasury bond futures declined. Among the actively traded contracts, the implied interest rate of the two - year bond was 1.376, unchanged from the previous day; the five - year bond was 1.497, also unchanged; the ten - year bond was 1.618, down 0.7 bps; and the thirty - year bond was 1.985, down 0.1 bps [3]. 2. Core Views - For stock index futures, it is speculated that the deep discount of small - cap stock indices recently is due to the expansion of neutral product scale since this year. As the bond bull market has not restarted, the proportion of short positions in neutral products may still be high, so the deep discount may continue. It is recommended to go long on the economy, and it is advisable to allocate IF, IC, IM forward contracts on dips. For near - month contracts, there is a risk of a decline in micro - cap stocks, which may drag down the IC and IM indices, so caution is advised [2]. - For treasury bond futures, although the current spot bonds show a pattern of strong supply and weak demand, this pattern is expected to change in the future. The government bond net supply rhythm may slow down in June, the long - term liability cost of insurance may be lowered in July, and the domestic market risk preference has returned to a defensive style, which may increase the demand for bond market allocation. It is recommended to go long in the short - term and short in the long - term, buy T and TL contracts on dips in the short - term, and hedge T and TL contracts on rallies in the long - term [3]. 3. Summary by Directory 3.1 Stock Index Futures and Spot Market Performance - The table shows the performance of stock index futures and spot markets, including details such as code, name, price changes, trading volume, open interest, and basis. For example, for IC2506, the price change was -0.26%, the current price was 5568.0 points, and the basis was 69.2 points [5]. 3.2 Treasury Bond Futures and Spot Market Performance - The table presents the performance of treasury bond futures and spot markets, including code, name, price changes, trading volume, net basis, and CTD bond implied interest rates. For instance, for TS2506, the price change was -0.01%, the current price was 102.2 points, and the net basis was 0.0 [6]. 3.3 Economic Data - High - frequency data shows that this month, the prosperity of imports and exports and social activities has declined, while the real estate market has improved [10].