本文试图通过对基于期权理论的动态证券资产配置策略进行研究,针对中国金融市场的不同行情走势,利用期权理论固定比例投资组合保险策略(CPPI)与时间不变性投资组合保险策略(TIPP)方法,设计保本型产品的投资组合保险策略。该策略以保本为第一考虑,可在保本的基础上,在最大程度上实现参与股市上涨的收益。 This paper attempts to study the strategy of dynamic securities asset allocation based on option theory. In view of the different market trends in China’s financial market, this paper uses option-based fixed portfolio insurance strategy (CPPI) and time invariant portfolio insurance strategy (TIPP) Design a portfolio insurance strategy for guaranteed products. The strategy of capital preservation as the first consideration, based on capital preservation, to maximize the benefits of participation in the stock market rose.