{"id":47245,"date":"2026-05-19T18:58:54","date_gmt":"2026-05-19T18:58:54","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn\/uncategorized\/%e5%8f%97%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e3%80%81%e8%b1%81%e5%85%8d%e6%b6%88%e6%81%af%e5%92%8c%e4%b8%ad%e5%9b%bd%e9%9c%80%e6%b1%82%e7%96%b2%e8%bd%af%e5%bd%b1%e5%93%8d%ef%bc%8c\/"},"modified":"2026-05-19T18:58:54","modified_gmt":"2026-05-19T18:58:54","slug":"%e5%8f%97%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e3%80%81%e8%b1%81%e5%85%8d%e6%b6%88%e6%81%af%e5%92%8c%e4%b8%ad%e5%9b%bd%e9%9c%80%e6%b1%82%e7%96%b2%e8%bd%af%e5%bd%b1%e5%93%8d%ef%bc%8c","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn\/live-updates\/%e5%8f%97%e4%bc%8a%e6%9c%97%e7%b4%a7%e5%bc%a0%e5%b1%80%e5%8a%bf%e3%80%81%e8%b1%81%e5%85%8d%e6%b6%88%e6%81%af%e5%92%8c%e4%b8%ad%e5%9b%bd%e9%9c%80%e6%b1%82%e7%96%b2%e8%bd%af%e5%bd%b1%e5%93%8d%ef%bc%8c\/","title":{"rendered":"\u53d7\u4f0a\u6717\u7d27\u5f20\u5c40\u52bf\u3001\u8c41\u514d\u6d88\u606f\u548c\u4e2d\u56fd\u9700\u6c42\u75b2\u8f6f\u5f71\u54cd\uff0c\u6cb9\u4ef7\u5267\u70c8\u6ce2\u52a8\uff0c\u5e03\u4f26\u7279\u6cb9\u4ef7\u7ef4\u6301\u5728\u6bcf\u687685\u7f8e\u5143\u9644\u8fd1"},"content":{"rendered":"

\u6cb9\u4ef7\u6301\u7eed\u5267\u70c8\u6ce2\u52a8\u3002\u4f0a\u6717\u76f8\u5173\u98ce\u9669\uff0c\u4ee5\u53ca\u6ce2\u65af\u6e7e\u4f9b\u5e94\u4e2d\u65ad\uff0c\u8ba9\u5e02\u573a\u5728\u5f88\u5927\u7684\u4ef7\u683c\u533a\u95f4\u5185\u6765\u56de\u9707\u8361\u3002\u7279\u6717\u666e\u603b\u7edf\u63aa\u8f9e\u66f4\u5f3a\u786c\u540e\uff0c\u4ef7\u683c\u5927\u5e45\u6ce2\u52a8\uff1b\u968f\u540e\u53c8\u6709\u6d88\u606f\u79f0\uff0c\u7f8e\u56fd\u53ef\u80fd\u6682\u65f6\u8c41\u514d\u5bf9\u4f0a\u6717\u77f3\u6cb9\u7684\u5236\u88c1\uff0c\u76f4\u5230\u7f8e\u4f0a\u8fbe\u6210\u534f\u8bae\u4e3a\u6b62\u3002<\/p>\n

\u7f8e\u56fd\u4e5f\u628a\u4e00\u9879\u5468\u672b\u5230\u671f\u7684\u8c41\u514d\u5ef6\u957f\uff0c\u5141\u8bb8\u7ee7\u7eed\u51fa\u552e\u201c\u6f02\u5728\u6d77\u4e0a\u201d\u7684\u4fc4\u7f57\u65af\u539f\u6cb930\u5929\u3002\u8fd9\u91cc\u7684\u201c\u8c41\u514d\u201d\u6307\u7684\u662f\u653f\u5e9c\u6682\u65f6\u4e0d\u6267\u884c\u67d0\u4e9b\u9650\u5236\u6216\u5236\u88c1\uff0c\u8ba9\u76f8\u5173\u4ea4\u6613\u5728\u9650\u5b9a\u65f6\u95f4\u5185\u4ecd\u53ef\u8fdb\u884c\u3002\u8be5\u8c41\u514d\u5141\u8bb8\u9500\u552e\u52306\u670817\u65e5\uff0c\u76ee\u7684\u662f\u5728\u6ce2\u65af\u6e7e\u51fa\u73b0\u4f9b\u5e94\u635f\u5931\u65f6\uff0c\u5e2e\u52a9\u7a33\u5b9a\u6cb9\u5e02\u3002<\/p>\n

\u4e2d\u56fd\u6570\u636e\u6697\u793a\u9700\u6c42\u8f6c\u5f31<\/h3>\n

\u4e2d\u56fd\u6570\u636e\u663e\u793a\uff0c\u539f\u6cb9\u52a0\u5de5\u4e0e\u9700\u6c42\u76f8\u5173\u6307\u6807\u8d70\u5f31\uff0c\u90e8\u5206\u4e0e\u5e93\u5b58\u4e0b\u964d\uff08\u5148\u7528\u5e93\u5b58\u5e94\u4ed8\u9700\u6c42\uff0c\u800c\u4e0d\u662f\u589e\u52a0\u65b0\u91c7\u8d2d\uff09\u6709\u5173\u30024\u6708\u70bc\u5382\u52a0\u5de5\u539f\u6cb91335\u4e07\u6876\/\u65e5\uff08b\/d\uff0c\u6307\u201c\u6bcf\u5929\u591a\u5c11\u6876\u201d\uff0c\u662f\u6cb9\u5e02\u5e38\u7528\u5355\u4f4d\uff09\uff0c\u540c\u6bd4\u4e0b\u6ed15.8%\uff0c\u4e3a2024\u5e748\u6708\u4ee5\u6765\u6700\u4f4e\u3002<\/p>\n

\u6cb9\u5e02\u76ee\u524d\u9677\u5165\u201c\u62c9\u952f\u6218\u201d\uff1a\u5e03\u4f26\u7279\u539f\u6cb9\uff08Brent crude\uff0c\u56fd\u9645\u5e38\u7528\u57fa\u51c6\u6cb9\u4ef7\u4e4b\u4e00\uff09\u5728\u6bcf\u6876\u7ea685\u7f8e\u5143\u9644\u8fd1\u5f98\u5f8a\u3002\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u4e3a\u4ef7\u683c\u63d0\u4f9b\u652f\u6491\uff0c\u4f46\u9700\u6c42\u8f6c\u5f31\u8ff9\u8c61\u53c8\u9650\u5236\u6da8\u5e45\u3002CBOE\u539f\u6cb9\u6ce2\u52a8\u7387\u6307\u6570OVX\uff08\u7528\u671f\u6743\u4ef7\u683c\u63a8\u7b97\u5e02\u573a\u5bf9\u672a\u6765\u6ce2\u52a8\u7684\u9884\u671f\uff1b\u6570\u503c\u8d8a\u9ad8\u4ee3\u8868\u9884\u671f\u6ce2\u52a8\u8d8a\u5927\uff09\u53cd\u6620\u4e86\u8fd9\u79cd\u4e0d\u786e\u5b9a\u6027\uff0c\u8fd1\u51e0\u5468\u5347\u81f335\u3002<\/p>\n

\u6211\u4eec\u89c2\u5bdf\u5230\uff0c\u53bb\u5e74\u63d0\u5230\u7684\u4f9b\u5e94\u98ce\u9669\uff0c\u5c24\u5176\u662f\u4f0a\u6717\u76f8\u5173\u98ce\u9669\uff0c\u4ecd\u662f\u4ef7\u683c\u5927\u5e45\u8d77\u843d\u7684\u4e3b\u8981\u63a8\u624b\u3002\u8fd1\u671f\u5173\u4e8e\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u9644\u8fd1\u6d77\u519b\u6f14\u4e60\u7684\u62a5\u9053\uff0c\u62ac\u9ad8\u4e86\u201c\u98ce\u9669\u6ea2\u4ef7\u201d\uff08\u56e0\u6f5c\u5728\u51b2\u7a81\u6216\u4e2d\u65ad\u98ce\u9669\u800c\u989d\u5916\u52a0\u5230\u4ef7\u683c\u91cc\u7684\u90e8\u5206\uff09\uff0c\u8ba9\u5e02\u573a\u60f3\u8d772025\u5e74\u7684\u5f3a\u786c\u8a00\u8bba\u4e0e\u4f9b\u5e94\u6270\u52a8\u3002\u7531\u4e8e\u5e02\u573a\u5bf9\u65b0\u95fb\u6807\u9898\u6781\u5ea6\u654f\u611f\uff0c6\u6708OPEC+\u4f1a\u8bae\u4e5f\u4f1a\u5e26\u6765\u65b0\u7684\u4f9b\u5e94\u7aef\u4e0d\u786e\u5b9a\u6027\u3002OPEC+\u6307\u77f3\u6cb9\u8f93\u51fa\u56fd\u7ec4\u7ec7\u53ca\u5176\u76df\u53cb\uff0c\u662f\u5f71\u54cd\u5168\u7403\u4f9b\u7ed9\u7684\u91cd\u8981\u4ea7\u6cb9\u56fd\u8054\u76df\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u9700\u6c42\u9762\u4e0d\u8db3\u4ee5\u652f\u6301\u6cb9\u4ef7\u6301\u7eed\u8d70\u9ad8\u3002\u867d\u71362025\u5e744\u6708\u4e2d\u56fd\u70bc\u5382\u5f00\u5de5\uff08refinery runs\uff0c\u6307\u70bc\u5382\u5b9e\u9645\u52a0\u5de5\u91cf\uff09\u660e\u663e\u4e0b\u6ed1\uff0c\u4f462026\u5e744\u6708\u6700\u65b0\u6570\u636e\u4ec5\u663e\u793a\u539f\u6cb9\u8fdb\u53e3\u5c0f\u5e45\u56de\u5347\u81f31150\u4e07\u6876\/\u65e5\u3002\u6b64\u5916\uff0c\u7f8e\u56fd\u80fd\u6e90\u4fe1\u606f\u7f72EIA\uff08\u7f8e\u56fd\u5b98\u65b9\u80fd\u6e90\u6570\u636e\u673a\u6784\uff09\u4e0a\u5468\u516c\u5e03\u539f\u6cb9\u5e93\u5b58\u610f\u5916\u589e\u52a0250\u4e07\u6876\uff0c\u8fdb\u4e00\u6b65\u8bf4\u660e\u5f53\u524d\u4f9b\u5e94\u901f\u5ea6\u53ef\u80fd\u5feb\u4e8e\u5373\u65f6\u6d88\u8017\u3002\u8fd9\u91cc\u7684\u201c\u5e93\u5b58\u589e\u52a0\u201d\u901a\u5e38\u610f\u5473\u7740\u77ed\u671f\u4f9b\u8fc7\u4e8e\u6c42\u538b\u529b\u4e0a\u5347\u3002<\/p>\n

\u9ad8\u6ce2\u52a8\u4e0b\u7684\u671f\u6743\u7b56\u7565<\/h3>\n

\u5728\u201c\u9690\u542b\u6ce2\u52a8\u7387\u201d\u8f83\u9ad8\u7684\u73af\u5883\u4e0b\uff08implied volatility\uff0c\u6307\u4ece\u671f\u6743\u4ef7\u683c\u53cd\u63a8\u5e02\u573a\u9884\u671f\u7684\u672a\u6765\u6ce2\u52a8\u5e45\u5ea6\uff09\uff0c\u4ea4\u6613\u8005\u53ef\u8003\u8651\u66f4\u504f\u5411\u201c\u5403\u6ce2\u52a8\u201d\u7684\u7b56\u7565\uff0c\u800c\u4e0d\u662f\u62bc\u6ce8\u5355\u4e00\u65b9\u5411\u3002\u201c\u4e70\u5165\u8de8\u5f0f\u7b56\u7565\u201d\uff08long straddle\uff1a\u540c\u65f6\u4e70\u5165\u540c\u5230\u671f\u3001\u540c\u884c\u6743\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff09\u6216\u201c\u4e70\u5165\u5bbd\u8de8\u5f0f\u7b56\u7565\u201d\uff08long strangle\uff1a\u540c\u65f6\u4e70\u5165\u540c\u5230\u671f\u3001\u4e0d\u540c\u66f4\u4ef7\u5916\u884c\u6743\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff09\u53ef\u80fd\u66f4\u9002\u5408\uff0c\u7528\u6765\u6355\u6349\u5730\u7f18\u4e8b\u4ef6\u6216\u7ecf\u6d4e\u6570\u636e\u610f\u5916\u5f15\u53d1\u7684\u5355\u8fb9\u5927\u6ce2\u52a8\u3002\u7528\u671f\u6743\u6765\u4e8b\u5148\u9501\u5b9a\u6700\u5927\u4e8f\u635f\u975e\u5e38\u5173\u952e\uff0c\u56e0\u4e3a\u5728\u6765\u56de\u6025\u62c9\u6025\u8dcc\u7684\u5e02\u573a\u91cc\uff0c\u76f4\u63a5\u505a\u539f\u6cb9\u671f\u8d27\uff08futures\uff0c\u6309\u7ea6\u5b9a\u4ef7\u683c\u5728\u672a\u6765\u4e70\u5356\u7684\u5408\u7ea6\uff0c\u672c\u8eab\u6760\u6746\u9ad8\u3001\u4ef7\u683c\u6ce2\u52a8\u65f6\u4e8f\u76c8\u653e\u5927\uff09\u98ce\u9669\u66f4\u9ad8\u3002<\/p>\n

\u6211\u4eec\u4ecd\u8bb0\u5f972025\u5e74\u5e02\u573a\u5982\u4f55\u5bf9\u201c\u5236\u88c1\/\u8c41\u514d\u201d\u76f8\u4e92\u77db\u76fe\u7684\u6d88\u606f\u8fc5\u901f\u53cd\u5e94\u3002\u90a3\u6bb5\u65f6\u95f4\u8bf4\u660e\u60c5\u7eea\u53cd\u8f6c\u53ef\u4ee5\u975e\u5e38\u5feb\uff0c\u672a\u505a\u4fdd\u62a4\uff08\u6ca1\u6709\u7528\u671f\u6743\u7b49\u5de5\u5177\u9650\u5b9a\u98ce\u9669\uff09\u7684\u4ed3\u4f4d\u5f88\u5bb9\u6613\u88ab\u5feb\u901f\u626b\u6389\u3002\u6b64\u6b21\u5ef6\u957f\u5bf9\u4fc4\u7f57\u65af\u539f\u6cb9\u7684\u8c41\u514d\uff0c\u4e0e\u53bb\u5e74\u7c7b\u4f3c\uff0c\u4e5f\u663e\u793a\u653f\u7b56\u51b3\u5b9a\u53ef\u80fd\u7a81\u7136\u628a\u989d\u5916\u4f9b\u5e94\u5e26\u56de\u5e02\u573a\uff0c\u7ed9\u770b\u6da8\u60c5\u7eea\u964d\u6e29\u3002<\/p>\n

\u521b\u5efa\u4f60\u7684 VT Markets \u771f\u5b9e\u8d26\u6237<\/a>\u00a0\u5e76\u7acb\u5373\u00a0\u5f00\u59cb\u4ea4\u6613<\/a>\u3002 <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u6cb9\u4ef7\u50cf\u5750\u8fc7\u5c71\u8f66\uff1a\u4f0a\u6717\u98ce\u9669\u4e0e\u6ce2\u65af\u6e7e\u4f9b\u5e94\u4e2d\u65ad\u63a8\u9ad8\u6ce2\u52a8\uff0c\u7279\u6717\u666e\u5f3a\u786c\u8a00\u8bba\u518d\u6dfb\u706b\u3002\u7f8e\u6682\u7f13\u4f0a\u6717\u5236\u88c1\u3001\u5ef6\u957f\u4fc4\u6cb9\u8c41\u514d\u7a33\u5e02\uff1b\u4e2d\u56fd\u9700\u6c42\u8f6c\u5f31\uff0c\u671f\u6743\u6216\u66f4\u9002\u5408\u6355\u6349\u5927\u6ce2\u52a8\u3002<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-47245","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts\/47245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/comments?post=47245"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/posts\/47245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/media?parent=47245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/categories?post=47245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn\/wp-json\/wp\/v2\/tags?post=47245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}