【中文版】

可转债是一种可以在一定时期内转换为股票的债券，具有高收益、低风险的特点，因此备受投资者青睐。但是，近年来也出现了很多可转债的炒作行为，那么什么人会炒可转债呢？

首先，炒可转债的人群主要是以短线投机者为主。这些投资者利用可转债的价格波动以及转股等特性，进行短线的投机操作。他们通常会关注可转债的波动幅度、交易量等指标，寻找机会进行短线交易，获取短期的高收益。

其次，一些散户投资者也会参与可转债的炒作。由于可转债的门槛较低，很多散户投资者会通过购买可转债进行股票投资。他们通常会选择一些具有较好基本面和成长性的可转债进行投资，以期获得更高的收益。

最后，一些机构投资者也会参与可转债的交易。这些机构投资者通常具有较为专业的投资团队和丰富的投资经验，他们通常会从可转债的估值、行业、公司基本面等多个角度进行分析和研究，寻找投资机会并进行长期投资。

总之，炒可转债的人群主要是以短线投机者、散户投资者和机构投资者为主。由于可转债具有高收益、低风险的特点，这些投资者通常会关注可转债市场并进行投资操作，以期获得更高的收益。

【英文版】

Convertible bonds are bonds that can be converted into stocks within a certain period of time. With high yields and low risks, they are highly sought after by investors. However, in recent years, there have also been many speculative trading behaviors in convertible bonds. So who would trade convertible bonds?

Firstly, the group of people who trade convertible bonds is mainly short-term speculators. These investors use the price fluctuations of convertible bonds and other characteristics such as conversion into stocks to carry out short-term speculative trading operations. They usually pay attention to indicators such as the fluctuation range and trading volume of convertible bonds to find opportunities for short-term trading and obtain short-term high yields.

Secondly, some retail investors also participate in the trading of convertible bonds. Due to the low threshold of convertible bonds, many retail investors buy convertible bonds for stock investment. They usually choose some convertible bonds with good fundamentals and growth potential for investment, hoping to obtain higher yields.

Finally, some institutional investors also participate in the trading of convertible bonds. These institutional investors usually have more professional investment teams and rich investment experience. They usually analyze and research multiple perspectives such as valuation, industry, and company fundamentals to find investment opportunities and carry out long-term investments.

In summary, the group of people who trade convertible bonds mainly includes short-term speculators, retail investors, and institutional investors. Due to the characteristics of high yields and low risks, these investors usually pay attention to the market of convertible bonds and carry out investment operations to obtain higher yields.