Last Friday there was a notice seeking public comment about the delisting of QDII LOFs and commodity futures LOFs. I guess it’s just a formality in the end. The final result is definitely going to be yes, so funds like this will no longer exist going forward.

For example, we previously did arbitrage in silver, overseas technology, and some other overseas product LOFs.

So today the Silver LOF crashed (it’s actually a bit better than I expected—I thought it might hit the daily limit, but after all there is still a transition period until 2027).

There are just too many people who primarily want to hype and arbitrage! Actually, products like this are pretty good. For arbitrageurs like us, we can make money. And for some people who want to hype but don’t have the futures trading threshold, they can also make money. But that will be gone from now on—it's a pity. There won’t be such great arbitrage products anymore.

Actually, sending it as an ETF should also be fine, right? As long as it’s not traded on the secondary market.

So right now I haven’t sold my overseas tech LOF holding, because I don’t know whether there will be a forced redemption later or whether it can be converted into an off-exchange fund. I think holding it is fine. After all, overseas tech is currently at a discount, and since the off-exchange channel also has purchase limits, might as well just hold.

If—I'm saying if—the following steps force it to be converted into an overseas fund, I think this underlying will definitely have some hype around it, so keep an eye on it.

Today the typhoon hung around all day and rained heavily all day too—an absolute real-life storm. It makes the market seem like there’s basically no news.

I see everywhere is flooded. The most extreme case is that even the city gates in Taizhou are sealed up. This typhoon really does bring rain. I was woken up by the wind at around 5 a.m., got up and closed the windows. Even leaving a small gap wasn’t possible—the wind was just incredibly strong. Oh, right—last night I went home early. I went out and found that the evening performance got blown away by the typhoon. I’m just speechless. People were already on the way.

Next, let me talk about today’s actions.

(1) Alpha

Today there was a temporary airdrop notice. DOS only requires 200 points! I originally thought if the score didn’t meet the requirement, it would have to be over 240. Turns out it’s cause for celebration for everyone. And the price is also pretty good—around 50 dollars.

(2) Grid trading

For grid trading today, I’m still continuing to run it. Since the big one has stayed steady at 65,000, I only ended up doing three buy/sell (long/short) trades.

But TQQQ is a bit better. Even though there were no trades yesterday, today it made up for it throughout the day. Currently there have already been 8 transactions pre-market; we’ll just wait for how it performs tonight. Lately I’ve been thinking: maybe adding 2x or 3x leverage to my QQQ would have a similar effect. And I feel that for QQQ, 2x leverage should be no big problem.

(3) US stocks

For US stocks, it’s still just continuing with regular investing. There isn’t much to say. Also, earlier I talked about the overseas tech LOF operation—I’ll hold for now. If I can swap into the corresponding off-exchange units, then I’ll buy more.

By the way, regarding Yushu’s IPO: the other day I said that getting one lot could earn tens of thousands, but that was probably too conservative. Based on the pre-market price right now, one lot is about 200,000. If I actually got one, that would be a windfall.

(4) Stock index futures hedging strategy

Today the stock index futures hedging strategy made a small profit.

For the spot market, it’s basically the same: 500 and 1000 are both up by around 50 points. But for the contracts, because of the backwardation/discount difference, IM needs to rise more to catch up. IM2703 has risen 23 points more than IC2703. It’s pretty similar for IM2612 as well, but the December contract no longer has the backwardation/discount gap. Last week I switched to 2703.

Alright, that’s all for today. I’m off work. It rained all day—shouldn’t it stop now?