From The Asia Times:
China has launched 18 commodity options over the past three years to become the world's largest market for commodity derivatives....MUCH MORE
China launched the trading of aluminum and zinc options at the Shanghai Futures Exchange on Monday to improve the country’s commodities and derivatives market system.
On the first trading day, call and put options contracts of the two commodities were listed with underlying aluminum futures contracts to be delivered from October 2020 to January 2021, and zinc futures contracts to be delivered in October and November 2020.
The total trading volume for the contracts of the two options was 10.7 million yuan (US$1.53 million) on Monday, reflecting active transactions.
China is the world’s largest production and trading market for non-ferrous metals. Related futures and options products have been used on a large scale to hedge risks. Among them, aluminum futures contracts have been listed for 28 years, comprehensively serving as a tool of risk management for the production, sale and trading of aluminum....
Though instead of Elvis I should probably substitute the daytrading Chinese grandmothers:
And just a heads up: DO NOT play mah jong with this crew.
They'll strip you of any cash you may have on hand and they accept Alipay for the balance.
