HSI CBBCs position Analysis

Date	Change in long position*	Change in short position#	Change in long*/short# position	Investors’ view	Closing vs opening	Hints on investors’ view
30/07 (Fri)	+214	+638	+214/ +638	Bulls & Bears added	81.81	No clear direction, consider range trading strategy
29/07 (Thu)	+474	+406	+474/ +406	Bulls & Bears added	93.96	No clear direction, consider range trading strategy
28/07 (Web)	+383	+604	+383/ +604	Bulls & Bears added	117.14	No clear direction, consider range trading strategy
27/07 (Tue)	+2259	+37	+2259/ +37	Bulls & Bears added	925.08	No clear direction, consider range trading strategy
26/07 (Mon)	+1781	+460	+1781/ +460	Bulls & Bears added	633.41	No clear direction, consider range trading strategy
23/07 (Fri)	+197	+402	+197/ +402	Bulls & Bears added	418.97	No clear direction, consider range trading strategy
22/07 (Thu)	+161	-179	+161/ -179	Bulls added	259.56	Bulls added when market went up, may see upward breakthrough
21/07 (Web)	+1052	+278	+1052/ +278	Bulls & Bears added	114.64	No clear direction, consider range trading strategy
20/07 (Tue)	+723	+480	+723/ +480	Bulls & Bears added	136.58	No clear direction, consider range trading strategy

More *Change in Long position means the change in the position of bulls within the selected call level, in terms of equivalent futures contracts
^#Change in Long position means the change in the position of beas within the selected call level, in terms of equivalent futures contracts

CS HSI CBBCs Focus	Call level	Away from call level	Gearing	Entitlement ratio