維持看淡

JUN-12  19400 C     292     293     141     144     -198   18     2524      3602      +480

JUN-12  19400 P     160     290     143     268      +94   18     1812      2609      +433

Short side has won the fight and market oligopolies closed their long position which are induced from the changes in OI in these few days.

HSIF2 OI had a negative change which reduced 1.8K contacts yesterday.

194P intra-day volume is around 0.3K contracts which are less than the OI positive change last day.

194C intra-day volume is 2.1K contacts, SC profit reached 50%~75% 

Focusing on time value, there is a precise advantage on short position. Long put position have to stay in the money as the break- even point is at 19257 ~ 19110. Also, it enjoys a strong delta benefit from the ITM put. Assuming the market oligopolies will maximize their profit, we should follow their view util there is any obvious change on 194P.