华西证券：行情继续上涨情况下 若隐含波动率缓慢回落 市场上涨速度可能放缓

Core Viewpoint - The market is experiencing a contraction in volume and a significant convergence in implied volatility, indicating potential future market behavior based on volatility trends [1] Market Outlook - In a scenario where the market continues to rise, a rapid increase in implied volatility may signal the need to avoid adjustment risks due to rising speculative enthusiasm [1] - Conversely, a gradual decline in implied volatility suggests that the pace of market increases may slow down, potentially maintaining the status observed in July [1] Downward Market Scenario - If the market declines and implied volatility rises quickly, it indicates a rapid spread of pessimistic sentiment, suggesting opportunities to speculate on stabilization expectations or recovery driven by stable capital when the market stabilizes [1] - A slow decrease in implied volatility during a downturn points to a potential "prolonged decline," necessitating careful observation for entry timing [1]