近日，上海筑金投资有限公司（以下简称筑金投资）旗下曾业绩亮眼、净值一度达3.4元的期权"冠军产品"——"筑金馨睿壹号"出现明显回 撤，净值短期内降至1.2元左右，引发市场关注。 这款曾两度斩获全国期货（期权）实盘交易大赛期权组冠军的产品缘何大幅回撤？筑金投资相关人士就此向中国基金报记者作出独家回应。 公司独家回应：策略具有高波动属性 已"妥善处理" 网传信息称，该产品曾在碳酸锂价格约12万元/吨时卖出看涨期权，但随后碳酸锂主力合约价格一路飙升至17万元/吨以上，单边极端上涨行 情导致产品净值大幅下滑。这一上涨行情也打破了不少机构此前对碳酸锂8万～12万元/吨的波动区间预测，让逆势交易的机构遭遇重创。 此次净值大跌，有市场传言指向碳酸锂市场的极端行情冲击。 作为筑金投资的核心产品，"筑金馨睿壹号"成立于2021年12月，凭借成熟的期权卖方策略长期表现亮眼，更是在2024年—2025年连续斩获全 国期货（期权）实盘交易大赛期权组冠军，2024年比赛期间其参赛账户在123个交易日获利3000余万元。同时，该账户也获得郑商所期权专 项奖一等奖、广期所工业硅专项奖优秀奖。 据悉，"筑金馨睿壹号"参赛账户以期权为主，融合 ...

【导读】"冠军产品"巨震背后：衍生品策略的收益诱惑与风控考量 近日，上海筑金投资有限公司（以下简称筑金投资）旗下曾业绩亮眼、净值一度达3.4元的期权"冠军产品"——"筑金馨睿壹号"出现明显回 撤，净值短期内降至1.2元左右，引发市场关注。 这款曾两度斩获全国期货（期权）实盘交易大赛期权组冠军的产品缘何大幅回撤？筑金投资相关人士就此向中国基金报记者作出独家回应。 公司独家回应：策略具有高波动属性 已"妥善处理" 此次净值大跌，有市场传言指向碳酸锂市场的极端行情冲击。 网传信息称，该产品曾在碳酸锂价格约12万元/吨时卖出看涨期权，但随后碳酸锂主力合约价格一路飙升至17万元/吨以上，单边极端上涨行 情导致产品净值大幅下滑。这一上涨行情也打破了不少机构此前对碳酸锂8万～12万元/吨的波动区间预测，让逆势交易的机构遭遇重创。 针对产品净值的大幅波动，筑金投资相关人士接受了中国基金报记者的采访。 对于净值变化，该人士称："回撤是事实，这个我们也没啥可否认的。"关于回撤原因，他表示"原因复杂，涉及策略本身"，并指出市场传言 信息可能不全面。同时，他强调，该产品属于高波产品，策略具有较高波动属性，此次回撤并未触发产品合同约定 ...

Core Viewpoint - Shanghai Zhujin Investment's options team, led by Yu Bin, achieved the championship in the options category of a trading competition, despite facing a challenging market environment that negatively impacted their performance compared to the previous year [1] Group 1: Trading Strategy and Performance - Yu Bin initially developed a trading system based on technical analysis, achieving a win rate of 38% with a profit-loss ratio of 2.5:1, but faced a nearly 20% drawdown due to market volatility [2] - After a critical turning point in 2017, Yu Bin shifted focus to options, particularly the dual-selling strategy on the SSE 50 ETF options, which yielded an annual return of about 10% [3] - The introduction of a diversified strategy combining futures directional analysis with options volatility management improved the win rate to 70%, although the profit-loss ratio decreased to 1:1, resulting in a more stable "stair-step" profit curve [3] Group 2: Team Collaboration and Risk Management - The importance of team collaboration is emphasized, with each member playing a crucial role in strategy development, opportunity identification, planning, execution, and risk control [4] - A comprehensive risk management system was established, consisting of three lines of defense: logical risk control based on fundamental support, position risk control through diversification, and capital risk control with a warning mechanism for different product styles [5] Group 3: Personal Growth and Trading Philosophy - Yu Bin highlights the significance of self-awareness in a trader's growth, advocating for a balance between risk and return while recognizing personal trading styles [6] - The philosophy of trading as a marathon emphasizes the importance of maintaining a clear mind over excessive monitoring of the market, showcasing a sustainable path to success [6]