{"id":40075,"date":"2026-03-14T02:59:15","date_gmt":"2026-03-14T02:59:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40075\/"},"modified":"2026-03-14T02:59:15","modified_gmt":"2026-03-14T02:59:15","slug":"%e7%be%8e%e5%9c%8b%e5%95%86%e5%93%81%e6%9c%9f%e8%b2%a8%e4%ba%a4%e6%98%93%e5%a7%94%e5%93%a1%e6%9c%83%ef%bc%88cftc%ef%bc%89%e5%a0%b1%e5%91%8a%ef%bc%9asp-500-%e9%9d%9e%e5%95%86%e6%a5%ad%e6%b7%a8","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/40075\/","title":{"rendered":"\u7f8e\u570b\u5546\u54c1\u671f\u8ca8\u4ea4\u6613\u59d4\u54e1\u6703\uff08CFTC\uff09\u5831\u544a\uff1aS&#038;P 500 \u975e\u5546\u696d\u6de8\u6301\u5009\u4e0a\u5347\uff0c\u6de8\u7a7a\u5f9e -168.2K \u6536\u7a84\u81f3 -134.5K"},"content":{"rendered":"\u7f8e\u570b\u5546\u54c1\u671f\u8ca8\u4ea4\u6613\u59d4\u54e1\u6703\uff08CFTC\uff0c\u7f8e\u570b\u76e3\u7ba1\u671f\u8ca8\u8207\u90e8\u5206\u884d\u751f\u54c1\u5e02\u5834\u7684\u6a5f\u69cb\uff09\u8cc7\u6599\u986f\u793a\uff0cS&#038;P 500 \u975e\u5546\u696d\uff08Non-Commercial\uff0c\u4e3b\u8981\u6307\u6295\u6a5f\u6027\u7684\u5927\u578b\u4ea4\u6613\u8005\uff0c\u800c\u975e\u7528\u4f86\u907f\u96aa\u7684\u4f01\u696d\uff09\u6de8\u90e8\u4f4d\uff08Net positions\uff0c\u591a\u55ae\u8207\u7a7a\u55ae\u76f8\u62b5\u5f8c\u7684\u7e3d\u548c\uff09\u4e0a\u5347\u81f3 -134.5K\u3002\u524d\u503c\u70ba -168.2K\u3002\n\n\u672c\u9031\u8b8a\u5316\u70ba\u589e\u52a0 33.7K\uff0c\u4f46\u7e3d\u9ad4\u4ecd\u662f\u6de8\u7a7a\uff08Net short\uff0c\u653e\u7a7a\u90e8\u4f4d\u591a\u65bc\u505a\u591a\u90e8\u4f4d\uff09\u3002\u9019\u4e9b\u6578\u64da\u53cd\u6620 S&#038;P 500 \u671f\u8ca8\uff08Futures\uff0c\u4ee5\u7d04\u5b9a\u50f9\u683c\u5728\u672a\u4f86\u8cb7\u8ce3\u7684\u5408\u7d04\uff09\u7684\u975e\u5546\u696d\u6301\u5009\u3002\n\n<h3>\u6295\u6a5f\u6027\u7a7a\u55ae\u6e1b\u5c11<\/h3>\n\u6700\u65b0\u6578\u64da\u986f\u793a\uff0cS&#038;P 500 \u7684\u6295\u6a5f\u6027\u6de8\u7a7a\u90e8\u4f4d\u660e\u986f\u4e0b\u964d\u3002\u96d6\u7136\u5927\u578b\u4ea4\u6613\u8005\u6574\u9ad4\u770b\u6cd5\u4ecd\u504f\u60b2\u89c0\uff08Bearish\uff0c\u770b\u8dcc\uff09\uff0c\u4f46\u5148\u524d\u5927\u8209\u62bc\u6ce8\u5e02\u5834\u4e0b\u8dcc\u7684\u90e8\u4f4d\u6b63\u5728\u56de\u88dc\uff08Short covering\uff0c\u8cb7\u56de\u5148\u524d\u8ce3\u51fa\u7684\u7a7a\u55ae\u4ee5\u5e73\u5009\uff09\u3002\u9019\u662f\u8d85\u904e\u516d\u500b\u6708\u4ee5\u4f86\u6700\u5927\u7684\u4e00\u9031\u6de8\u7a7a\u4e0b\u964d\u3002\n\n\u9019\u6b21\u90e8\u4f4d\u8abf\u6574\u767c\u751f\u5728 2026 \u5e74 2 \u6708\u5c31\u696d\u5831\u544a\u4e4b\u5f8c\uff1b\u5831\u544a\u986f\u793a\u52de\u52d5\u5e02\u5834\u5065\u5eb7\u4f46\u672a\u904e\u71b1\uff0c\u85aa\u8cc7\u589e\u901f\u653e\u7de9\u81f3\u5e74\u589e 3.1%\u3002\u9019\u8b93\u5e02\u5834\u66f4\u76f8\u4fe1\u806f\u6e96\u6703\uff08Federal Reserve\uff0c\u7f8e\u570b\u4e2d\u592e\u9280\u884c\uff09\u4e0d\u9700\u8981\u91cd\u555f 2025 \u5e74\u90a3\u8f2a\u5347\u606f\uff08Rate-hiking cycle\uff0c\u9023\u7e8c\u63d0\u9ad8\u5229\u7387\u7684\u968e\u6bb5\uff09\u3002\u5e02\u5834\u76ee\u524d\u4f30\u8a08\uff0c\u5229\u7387\u7dad\u6301\u4e0d\u8b8a\uff08On hold\uff0c\u4e0d\u5347\u4e0d\u964d\uff09\u7684\u6a5f\u7387\u5728\u590f\u5b63\u4e4b\u524d\u8d85\u904e 70%\u3002\n\n2022 \u5e74\u5e95\u4e5f\u66fe\u51fa\u73fe\u985e\u4f3c\u7684\u6975\u7aef\u56de\u88dc\u7a7a\u55ae\uff0c\u4e4b\u5f8c\u5e02\u5834\u5728 2023 \u5e74\u660e\u986f\u56de\u5347\u3002\u53c3\u8003\u9019\u6bb5\u6b77\u53f2\uff0c\u4ea4\u6613\u8005\u61c9\u8b39\u614e\u7dad\u6301\u904e\u5927\u7684\u653e\u7a7a\u90e8\u4f4d\u3002\u8f03\u7a69\u5065\u7684\u4f5c\u6cd5\u662f\u964d\u4f4e\u770b\u8dcc\u66dd\u96aa\uff08Exposure\uff0c\u6301\u5009\u5e36\u4f86\u7684\u98a8\u96aa\u8207\u5f71\u97ff\uff09\uff0c\u6216\u7528\u8cb7\u9032\u50f9\u5916\u8cb7\u6b0a\uff08Out-of-the-money call options\uff0c\u5c65\u7d04\u50f9\u9ad8\u65bc\u73fe\u50f9\u3001\u6210\u672c\u8f03\u4f4e\u7684\u770b\u6f32\u9078\u64c7\u6b0a\uff09\u4f86\u5c0d\u6c96\uff08Hedge\uff0c\u7528\u53e6\u4e00\u500b\u90e8\u4f4d\u964d\u4f4e\u539f\u90e8\u4f4d\u98a8\u96aa\uff09\u653e\u7a7a\u62bc\u6ce8\u3002\n\n\u7a7a\u55ae\u56de\u88dc\u4e5f\u63a8\u52d5\u5e02\u5834\u6ce2\u52d5\u4e0b\u964d\u3002VIX \u6307\u6578\uff08\u5e38\u88ab\u7a31\u70ba\u300c\u6050\u614c\u6307\u6578\u300d\uff0c\u8861\u91cf\u5e02\u5834\u5c0d\u672a\u4f86\u6ce2\u52d5\u7684\u9810\u671f\uff09\u8fd1\u671f\u5df2\u5f9e 24 \u4ee5\u4e0a\u964d\u5230 18 \u4ee5\u4e0b\uff0c\u4ee3\u8868\u6295\u8cc7\u4eba\u5c0d\u6295\u8cc7\u7d44\u5408\u4fdd\u96aa\uff08Portfolio insurance\uff0c\u5e38\u898b\u505a\u6cd5\u662f\u8cb7\u5165\u9078\u64c7\u6b0a\u4f86\u9632\u4e0b\u8dcc\uff09\u7684\u9700\u6c42\u4e0b\u964d\u3002\n\n<h3>\u6ce2\u52d5\u7387\u4e0b\u964d<\/h3>\n\u8f03\u4f4e\u7684\u6ce2\u52d5\uff0c\u8b93\u4e00\u4e9b\u7b56\u7565\u66f4\u5177\u5438\u5f15\u529b\uff0c\u4f8b\u5982\u5728\u512a\u8cea\u80a1\u7968\u4e0a\u8ce3\u51fa\u73fe\u91d1\u64d4\u4fdd\u8ce3\u6b0a\uff08Cash-secured puts\uff0c\u8ce3\u51fa\u8ce3\u6b0a\u540c\u6642\u9810\u7559\u8db3\u5920\u73fe\u91d1\uff0c\u82e5\u88ab\u6307\u6d3e\u5c31\u4ee5\u7d04\u5b9a\u50f9\u683c\u8cb7\u5165\u80a1\u7968\uff09\uff0c\u8b93\u60f3\u7528\u8f03\u4f4e\u50f9\u683c\u9032\u5834\u7684\u4ea4\u6613\u8005\u6709\u6a5f\u6703\u4ee5\u6298\u50f9\u53d6\u5f97\u90e8\u4f4d\u3002\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">\u9019\u88e1<\/a>\u5275\u5efa\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>CFTC\uff1aS&#038;P500\u6295\u6a5f\u6de8\u7a7a\u964d\u81f3-134.5K\uff0c\u55ae\u9031\u56de\u88dc33.7K\u5275\u534a\u5e74\u6700\u5927\u3002\u5c31\u696d\u964d\u6eab\u5f37\u5316\u806f\u6e96\u6703\u6309\u5175\u4e0d\u52d5\uff0cVIX\u8dcc\u783418\uff1b\u7a7a\u65b9\u5b9c\u964d\u66dd\u96aa\u6216\u4ee5\u50f9\u5916\u8cb7\u6b0a\u5c0d\u6c96\u3002<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40075","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\/zh\/wp-json\/wp\/v2\/posts\/40075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/comments?post=40075"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/40075\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=40075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=40075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=40075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}