Newsletter summary
Natural rubber inventory declineShazamcasinonodepositbonus2022Methanol supply maintenanceShazamcasinonodepositbonus2022PVC and plastic inventory changes; rubber options suggest a neutral combination, methanol options suggest a long combination, PTA options bear market spread, plastic options sell long straddle, PVC options sell short straddle.
Text of news flash
[natural rubber stocks decline, PVC and plastics stocks increase]
Recently, the inventory of natural rubber in Qingdao Free Trade Zone has been reduced by 0%.Shazamcasinonodepositbonus2022. 160000 tons to 11Shazamcasinonodepositbonus2022. 140000 tons, while general trade warehouse stocks decreased by 7900 tons to 362200 tons, and social stocks also decreased by 9500 tons. At the same time, the domestic start-up of methanol supply has fallen, but corporate profits remain high, and the follow-up supply is expected to be maintained. Overseas methanol parking has been reduced, and start-up has fallen sharply, while the margin of traditional demand on the demand side has weakened.
In terms of PVC, the start-up has rebounded to the high level of the year, factory inventory goes to the warehouse, the social warehouse is tired, and the overall inventory is still high in the same period. Domestic downstream demand seasonally resumes production, domestic exports improve, sea freight increases, Formosa Plastics quotation is expected to rise.
In terms of weekly plastic inventory, the inventory of production enterprises is 542400 tons, the warehouse is 61500 tons, the inventory of traders is 51600 tons, and the inventory is 4000 tons. The average downstream operating rate was 44.87%, up 0.05% from the previous month.
[option strategy suggestion]
In the aspect of rubber options, it is suggested to build a neutral call + put option combination strategy to obtain directional returns and time value gains.
In the aspect of methanol options, it is suggested to build a call + put option combination strategy of selling long positions in order to obtain directional returns and time value gains.
In the aspect of PTA options, it is suggested to construct the bear market spread combination strategy of put options in order to obtain directional returns.
In the aspect of plastic options, it is suggested to build a long-selling straddle option combination strategy to obtain time value income and directional income.
In the aspect of PVC options, it is suggested to build a cross option combination strategy of short selling in order to obtain directional returns and time value gains.
