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股指期货与股票投资其中一个很大的区别在于,交易是双方向的,投资者既可以选择做多,同时也可以做空,另外,沪深300股指期货同时挂牌交易的有四个合约,四个合约的标的物和合约条款是相同的,也就是说,同一时间对于同一交易对象有四个不同的品种。按道理说,由于各合约的标的物是相同的,他们的走势应该基本相同,而实际上,各合约之间尽管大趋势基本相同,但是走势强弱仍然有较大差别,具体表现为各合约的价格之间的差异,也就是基差,经常处于变动当中。因此,期货交易当中存在与股票交易中不同的跨期套利交易,在国外的期货市场,跨期套利是基金投资期货的主要手段之一。
One of the big differences between stock index futures and stock investment is that the transaction is bidirectional. Investors can choose to do more as well as make short positions. In addition, there are four contracts for the Shanghai and Shenzhen 300 Index Futures simultaneously listed, four The subject matter and contractual terms of the contract are the same, that is, there are four different varieties for the same transaction at the same time. Logically speaking, since the subject matter of the contracts are the same, their movements should be basically the same. In fact, although the general trends are basically the same among the various contracts, the strength of the movements is still quite different. The actual performance of the various contracts The difference between the price, which is the basis, is often in the midst of change. As a result, there are different intertemporal arbitrage transactions in futures trading than in stock trading. In foreign futures markets, intertemporal arbitrage is one of the main means by which funds invest futures.