问一道题：NO.PZ201809170400000207 第7小题

NO.PZ201809170400000207 问题如下 In preparation for receipt of the performanbonus, Tong shoulimmeately: buy two US E-mini equity futures contracts. sell nine US E-mini equity futures contracts. buy seven US E-mini equity futures contracts. C is correct. The amount of the performanbonus thwill receivein one month (US,750,000) nee to investepassively baseupon the strategic allocation recommenTong. Using the strategic allocation of the portfolio, 15% (US62,500.00) shoulallocateto US equity exposure using the S&P 500 E-mini contract, whitras in US llars. Because the futures priis 2,464.29 anthe S&P 500 E-mini multiplier is 50, the contraunit value is US23,214.50 (2,464.29 × 50). The correnumber of futures contracts is (5,750,000.00 × 0.15)/123,214.50 = 7.00. Therefore, Tong will buy seven S&P 500 E-mini futures contracts. 两个点不明白1.He believes ththe US equity market is likely to increase ring this timeframe. To take aantage of Winthrop’s market outlook我理解为他看好 US equity ，不应该只投US equity，为什么还要从组合考虑乘以15%？2.用哪个futures是因为给的都是mini，所以只算mini 的算吗？

NO.PZ201809170400000207 问题如下 In preparation for receipt of the performanbonus, Tong shoulimmeately: buy two US E-mini equity futures contracts. sell nine US E-mini equity futures contracts. buy seven US E-mini equity futures contracts. C is correct. The amount of the performanbonus thwill receivein one month (US,750,000) nee to investepassively baseupon the strategic allocation recommenTong. Using the strategic allocation of the portfolio, 15% (US62,500.00) shoulallocateto US equity exposure using the S&P 500 E-mini contract, whitras in US llars. Because the futures priis 2,464.29 anthe S&P 500 E-mini multiplier is 50, the contraunit value is US23,214.50 (2,464.29 × 50). The correnumber of futures contracts is (5,750,000.00 × 0.15)/123,214.50 = 7.00. Therefore, Tong will buy seven S&P 500 E-mini futures contracts. 奖金的所有数额不能用来买E-mini 的futures contract吗？ 为什么要用奖金*15% 去投资E-MINI 的futures contracts呢？

NO.PZ201809170400000207 问题如下 In preparation for receipt of the performanbonus, Tong shoulimmeately: buy two US E-mini equity futures contracts. sell nine US E-mini equity futures contracts. buy seven US E-mini equity futures contracts. C is correct. The amount of the performanbonus thwill receivein one month (US,750,000) nee to investepassively baseupon the strategic allocation recommenTong. Using the strategic allocation of the portfolio, 15% (US62,500.00) shoulallocateto US equity exposure using the S&P 500 E-mini contract, whitras in US llars. Because the futures priis 2,464.29 anthe S&P 500 E-mini multiplier is 50, the contraunit value is US23,214.50 (2,464.29 × 50). The correnumber of futures contracts is (5,750,000.00 × 0.15)/123,214.50 = 7.00. Therefore, Tong will buy seven S&P 500 E-mini futures contracts. 老师请问这里buy, sell是看正负号吗？还是应该如何判断呢？万一出现中同时出现sell 7 futures，和buy 7 futures，该如何区分呢？

NO.PZ201809170400000207问题如下 In preparation for receipt of the performanbonus, Tong shoulimmeately: buy two US E-mini equity futures contracts. sell nine US E-mini equity futures contracts. buy seven US E-mini equity futures contracts. C is correct. The amount of the performanbonus thwill receivein one month (US,750,000) nee to investepassively baseupon the strategic allocation recommenTong. Using the strategic allocation of the portfolio, 15% (US62,500.00) shoulallocateto US equity exposure using the S&P 500 E-mini contract, whitras in US llars. Because the futures priis 2,464.29 anthe S&P 500 E-mini multiplier is 50, the contraunit value is US23,214.50 (2,464.29 × 50). The correnumber of futures contracts is (5,750,000.00 × 0.15)/123,214.50 = 7.00. Therefore, Tong will buy seven S&P 500 E-mini futures contracts. 这个 multiplier代表的是什么含义

NO.PZ201809170400000207