Hong Kong stocks should not be bad in the week before the holiday.

It's a typical mainland market characteristic for the stock market to perform before the long Spring Festival holiday. Hong Kong stocks are likely to follow the A-share trend, and there shouldn't be any major surprises this week. The Hang Seng Index's current monthly fluctuation range is 26,289 - 27,943. If there are no negative external factors, there's a chance to test the high this week. The night session on Friday suddenly rose nearly 500 points to stand firm above 27,000. However, the holiday period is long; we'll discuss holding above 28,000 after the holiday. 26,400 is an important support level, as mentioned in last week's four-day column. This week, first watch the support at 26,800; if it holds, we could see above 27,500. The ability of Northbound capital to drive prices higher should not be underestimated. With no negative news, it's difficult to break below the 26,400 support. The Hang Seng Index's volatility in February is less than that of US stocks. The volatility index, i.e., the fear index, has risen to 24. The high option premiums don't match the market conditions. This is unfavorable for straddle/strangle option buyers. The 2/13W weekly contracts were not entered last Friday; waiting for a pullback on Monday. Hang Seng Index option premiums have remained relatively high in recent years. Selling options isn't easy, and buying options isn't cheap. Activity is not as high as before. Low-cost 20-point weekly straddle/strangle, from Wednesday's 40 points to Thursday's 70 and Friday's 200 points. Even a ten-fold return on a straddle/strangle is not impossible; determined traders can achieve it. With limited volatility, a 100-point cost cannot possibly yield such an effect. If the success rate of buying options is comparable to selling them, coupled with the limited risk of a small bet for a large gain, the advantage is self-evident. From the second half of '25 to now, 23 wins, 3 draws, and 4 losses over 30 consecutive weeks. Straddle/strangle requires experience + skill. Not judging the direction is also a trading strategy, not everyone has the divine courage to hit wherever they point.$Hang Seng Index(00HSI.HK)