HSI Bull-Bear Weighted Ratio and Bull Bear Weighted-Ratio are uniquely originated from J.P. Morgan. It correlated the HSI movement and CBBCs investors' risk appetite.

The Weighted Channel is calculated based on the weighted barrier of outstanding Bull and Bear contracts. When these weighted barrier move closer to the Hang Seng Index level, it implies that bullish or bearish investors are holding products with a higher risk of being called. This reflects stronger confidence in their market outlook.
The CBBCs Weighted Ratio converts the relative distance between the Hang Seng Index and the weighted barrier of bull and bear contracts into a numerical indicator. Together with the weighted channel chart, it helps investors more easily assess market sentiment, risk appetite, and the positioning of bullish and bearish capital.
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HSI
Bull Weighted-Barrier
Bear Weighted-Barrier

HSI Close: -
Bull Bear Weighted-Ratio: -
Bull Weighted-Barrier: -
Related Futures Quantity of Bull (Shares): -
Bear Weighted-Barrier: -
Related Futures Quantity of Bear (Shares): -
Last Updated : 2026-09-18 16:05
*The above graph aims at showing investors’ risk appetite only, it is not a prediction on the movement of HSI
Bear Weighted-Barrier
The barrier level is considered as the weight-average according to the outstanding amount of Callable Bear Contracts accumulated at different barrier levels.
Bull Weighted-Barrier
The barrier level is considered as the weight-average according to the outstanding amount of Callable Bull Contracts accumulated at different barrier levels.
Bull Bear Weighted-Ratio
When the ratio is closer to 100, HSI is trading closer to the Bear Weighted-Barrier.
Likewise, if the ratio is closer to 0, HSI is trading closer to the Bull Weighted- Barrier.

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