- 期刊
Research on Issues Related to Cotton Futures and Options
摘要
Cotton is the largest economic crop in China, with the attribute of being a "natural commodity" and an important raw material for the textile industry. Cotton futures is the first commodity futures variety in China, which has gone through more than ten years of development since its listing. In the cotton futures market, Zhengzhou Commodity Exchange and Dalian Commodity Exchange occupy an absolute dominant position. On September 16, 2020, cotton futures and options contracts were officially listed for trading. As an important new variety in the commodity futures market, cotton options, like other commodity options, have their own characteristics. This article is based on the practical experience and challenges faced in the operation of cotton futures options, as well as a basic overview of the cotton futures market. It explores hedging strategies and other risk management strategies, such as speculation and arbitrage strategies, option trading, and technical and basic analysis. Finally, the risk control and future development trends were analyzed, such as the impact of technological innovation and digitization on the futures market, as well as the impact of international trade and policy changes on the cotton futures market. In order to provide experience and reference for the next step of improving cotton futures and options, and promote the development of the cotton industry.