韩国金融衍生品实战投资技巧

SEOULFINANCIALFUTURES汉城金融期货

代表理事：尹康老理事：朴晟豪SEOULFINANCIALFUTURESKOSPI200的历史波动性

▷1990.1.3，KOSPI指数的收盘价为920点→KOSPI200指数定位100点1994.11，KOSPI指数为1145点→KOSPI200指数为130点

1998.5，KOSPI指数下跌为330点→KOSPI200指数为38点

2000.5，KOSPI指数为750点→KOSPI200指数为93点-相关系数为0.11~0.13左右，蓝筹股强势时相关系数为0.11▷

KOSPI200指数的波动率比先进国家的Nikkei225、S&P550等的年平均15~20%波动率更高的50~80%与东南亚市场的波动率相近的形式1999年后世界IT股的市值增加，使先进国家的日波动率也3~5%的上扬▷假设2000.5的750点，预测650~900点时，KOSPI200指数为85~108点，使可以预测30~40%的波动率SEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURES投机理论SEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURES心理上的投机理论个性化心理素质〔IndividualPsychology〕综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURESSEOULFINANCIALFUTURES个性化心理素质〔IndividualPsychology〕↠市场是地球上最有生机的地方↠搀杂感性的决定是市场交易中最为致命的错误-气急上的、恐惧或急躁心理上的交易是消灭成功的可能性↠市场总是上升和下跌的循环过程-大海瞬间的波浪汹涌或海面的静悄悄SEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURES2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES价格是什么？2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES价格是什么？2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES市场是什么？2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES市场参与者与自己的关系2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES市场参与者与自己的关系2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES趋势的心理2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES管理与预测2.综合心理素质〔MassPsychology〕SEOULFINANCIALFUTURES管理与预测SEOULFINANCIALFUTURES资金管理资金的积累资产收益率曲线〔NAVYieldCurve〕SEOULFINANCIALFUTURESSEOULFINANCIALFUTURESSEOULFINANCIALFUTURES区分交易天数期货交易量期权交易量合计1999177945,40361,3981,006,80120002442,959,97416,7052,976,679200124611,468,9068511,468,991200224414,596,86126,43414,623,295200322912,954,9071,23212,956,1392004.1184,078,370158,410,776162,489,146SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量1996195715,6213,6704,90819972923,252,06011,13722,765199829217,893,59261,27926,689199924917,200,34969,07838,026200024119,666,51881,60430,052200124631,502,184128,05842,198200224442,868,164175,68963,805200324762,204,783251,84184,8372004.1183,339,998185,55589,975韩国金融衍生品市场开展和现况2〕商品类:-KOSPI看涨期权

SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量199924937,535,486150,745113,8712000241112,127,519465,259335,5862001246460,733,0491,872,8991,423,97520022441,053,998,3044,319,6653,402,08220032471,482,177,0256,000,7171,581,6062004.11888,120,2184,895,5681,436,539韩国金融衍生品市场开展和现况2〕商品类:-KOSPI看跌期权

SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量199924942,401,172170,286269,336200024181,701,551339,011201,2322001246362,556,5591,473,8071,257,2902002244835,825,4823,425,5141,443,40920032471,355,547,9285,488,0481,521,2382004.11870,290,5583,905,0311,621,111SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量2001229466,4792,0374632002244380,4911,5591,2632003248727,9972,9352,4032004.11821,2921,1832,330SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量199967295,8334,4152,08120002441,538,5076,3057,79520012469,323,43037,90038,834200224412,777,99152,36949,516200324810,285,04241,47254,0532004.118587,46432,63758,258SEOULFINANCIALFUTURES区分交易天数总交易量日平均交易量持仓量1999177259,2491,46522,51620002441,355,7305,55631,26120012461,676,9796,81723,75420022441,434,5915,87919,67520032481,506,1236,07323,6502004.118128,9127,16234,597SEOULFINANCIALFUTURES区分期货证券银行信托保险其他个人外国人199923.016.317.00.31.916.024.90.4200016.29.931.08.0