摘要期货、期权是两种重要的金融衍生产品，在现代金融市场中发挥着越来越重要的市场影响和经济价值。在现实生活中，人们采用对期货进行套期保值的方法规避了现货交易风险，本文分别探讨了期货套期保值交易原理和期权套期保值交易原理，自从我国加入世界贸易组织WTO后，我们可以发现国内微观主体面临的经济金融环境日益开放。一般情况下，期权的使用率比期货高很多，从国际上的经验来看，在套期保值上面，期权的使用率比例大约是60%。90336

本文主要分为三部分，第一部分具体介绍了金融衍生产品的发展以及其现状、本文所研究的目的和意义。第二部分对套期保值的理论基础进行了介绍，比如：套期保值的的历史以及套期保值的发展现状、期货套期保值和期权套期保值的原理、套期保值的风险与效果的评价、套期保值的原则、套期保值的分类以及企业套期保值所面临的风险。第三部分是研究期货期权套期保值策略中的工具，详细地介绍了期货与期权的发展历史、分类、交易的原理与特点。

毕业论文关键词：期货套期保值；期权套期保值；金融衍生品；最小二乘法

Abstract Futures, options are two important financial derivatives, In the modern financial market, it plays a more and more important role in market and economy。In real life, people use futures hedging to avoid the risk of spot transactions, In this paper we discuss the principles of futures hedging and the principle of option hedging。 Since China's accession to the World Trade Organization (WTO), we can find that the economic and financial environment is facing the increasingly open。Under normal circumstances, the use of options is much higher than the futures, from the international experience, the above hedge, the option ratio is about 60%。

In this paper we pided into three main parts, the first part introduces the development and present situation of financial derivative products, the purpose and significance of this paper。 The second part is the theoretical basis of hedging are introduced, such as: the history of hedging and hedging development status, futures hedging and hedging principle, hedging risk and effect evaluation, the principle of hedging, hedging and classification of corporate hedging risk。The third part is the study of the tools of the hedging strategy, futures and options were introduced in detail the development history of futures and options trading, classification, principle and characteristics。

Keyword:The futures hedging; Option hedging; Financial derivatives; OLS

目录

1。引言 1

1。1金融衍生产品市场的发展和现状 1

1。2本文研究的目的和意义 1

2。套期保值的理论基础 3

2。1套期保值的历史与发展现状 3

2。2套期保值的原理 3

2。2。1期货套期保值交易原理 3

2。2。2期权套期保值交易原理 3

2。2。3套期保值的风险源Q于W优E尔A论S文R网wwW.yOueRw.com 原文+QQ75201,8766 与效果的评价 4

2。2。4套期保值的原则 5

2。2。5套期保值的分类 5

2。2。6企业套期保值所面临的风险 6

3。期货与期权的套期保值实例分析 8

3。1糖期货与期权发展与意义