：市场策略：看好小盘股

Trading outperformance for asymmetric upside and downside An outperformance option is a derivative where the payoff value is based on the relative performance of one asset compared with another. Structurally, the market continues to offer opportunities to invest in CSI1000 for interesting upside expressions in derivative form given discounted funding and depressed implied volatility. 1y TRS Spread for CSI1000 is close to 1200bps, which means investors may get close to 3ﯾﺪ - upside exposure for 1x downside o ...