Birth of the first mask option scheme: to guarantee the raw material cost of 100 million N95 masks

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 Birth of the first mask option scheme: to guarantee the raw material cost of 100 million N95 masks


Daoen group is a national standard maker and major manufacturer of PP melt blown special material for mouth cloth, and its listed company daoen Co., Ltd. (002838).

In order to help daoen group return to work and production and ensure the supply of raw materials, CCB trading, the risk management subsidiary of CCB futures, provided daoen group with a free asian call option of pp2005 (polypropylene futures due in May 2020) with an exercise price of 7234.5 yuan / ton, with a scale of 500 tons, which is equivalent to guaranteeing 450 million disposable surgical masks or 100 million disposable surgical masks Raw material cost of N95 masks.

The so-called Asian option refers to the average price within the validity period of the underlying asset whose earnings depend on it. The call option means that the buyer of the option has the right to buy a certain amount of subject matter at the execution price during the validity of the option contract.

The person in charge of the interim Association said that the use of over-the-counter option tools to carry out risk management for the production enterprises of epidemic prevention materials is a new idea for the futures industry to support the epidemic prevention and control work. In addition, some risk management companies have also taken supporting measures such as extending the contract performance period and reducing transaction costs for customers who actively donate anti epidemic materials, customers in areas with severe epidemic situation, and some small and medium-sized enterprise customers.

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