China Securities Regulatory Commission: Correctly Understanding Individual Stock Options Be vigilant against the risk of "virtual trading"

近期，场外个股option交易盛行，成为投资界“新宠”。一些公司借助互联网平台通过网站、微信公众号、APP、群组等方式招揽普通投资者参与场外个股期权交易，不排除这些平台存在“虚盘”的可能性，实质上是与投资者做对赌操作，客户缴纳的权利金没有安全性可言，应引起投资者警惕。
　　
一、案情概要
　　
某日，张先生接到一个自称A公司员工的电话，邀请其加入微信群，免费提供讲解股票知识、投资技术以及股票走势等服务。群管理员每天都发布一些盈利较好的交易清单，并组织互动交流，经过一段时间的“感情培养”，初步取得了大家的信任，转而开始推荐参加个股期权交易，宣称“低风险、高回报、以小博大、亏损有限、盈利无限”，只需要5万元就可以购买价值100万元的股票，无爆仓强平风险，短时间就可以获取高额收益。张先生经不住诱惑，决定小试一下，于是根据对方发送的链接下载了app交易软件，注册并通过个人网上银行转账完成入金，一个月后行权时，标的股票没有涨，几万元权利金一下子全没了，账号中的余额也无法出金。
　　
二、风险警示
　　
目前提供个股期权交易的互联网平台普遍存在以下问题，请投资者予以关注：
　　
First, investors do not need to open securities accounts, nor do they need to conduct video authentication. They can complete registration only by providing ID number number and bank account. After determining the operating target, call and put direction, holding period, and accepting the option quotation (i.e. premium), investors can purchase and become the right holder of the option. Taking the call option as an example, if the individual stock price on the exercise date is higher than the agreed price and the increase amount is greater than the premium, the investor will make a profit; If the amount of increase is less than the premium or if a stock falls, the investor will lose some or all of the premium.
　　
Secondly, these platforms do not have corresponding financial business qualifications, their internal control and compliance mechanisms are not sound, their royalty requirements are too high, and they lack a third-party deposit mechanism for funds, which poses obvious risks and hidden dangers.
　　
Thirdly, these platforms often use misleading promotional terms such as "high leverage", "limited losses but unlimited profits", and "losses do not require covering positions", emphasizing or even exaggerating the returns of individual stock options, weakening or even not indicating the risks of individual stock options.
　　
Investors participating in over-the-counter individual stock option trading through these platforms pose significant risks. If there are fraudulent activities or risk events such as "running away" on the platform, it is difficult to protect their own rights and interests. Investors are advised to be highly vigilant, not trusting or participating, in order to avoid being deceived and suffering losses.


来源于证监会网站