玉米期价小幅下跌，期权隐波大幅上升豆粕期价小幅波动，期权隐波急剧上升

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Core Viewpoints - Corn futures prices declined slightly, with the futures main contract C2507 closing at 2359 yuan/ton. Corn option trading volume was 114,451 lots, open interest was 412,397 lots, and the trading volume PCR was 0.644. The option weighted implied volatility was 11.67%, and the 30 - day historical volatility was 7.70%. The option implied volatility increased significantly [3]. - Soybean meal futures prices fluctuated slightly, with the futures main contract M2509 closing at 3045 yuan/ton. Soybean meal option trading volume was 344,631 lots, open interest was 1,035,482 lots, and the trading volume PCR was 0.966. The option weighted implied volatility was 22.12%, and the 30 - day historical volatility was 10.81%. The option implied volatility increased sharply [3]. 3. Summary by Relevant Catalogs 3.1 Futures Market Data Statistics - For the corn main contract C2507, the closing price was 2359 yuan/ton, with a decline of 19 yuan and a decline rate of 0.80%. The trading volume was 409,117 lots, an increase of 19,798 lots, and the open interest was 637,414 lots, a decrease of 64,999 lots [5]. - For the soybean meal main contract M2509, the closing price was 3045 yuan/ton, with an increase of 4 yuan and an increase rate of 0.13%. The trading volume was 1,422,022 lots, an increase of 254,197 lots, and the open interest was 2,305,935 lots, a decrease of 12,086 lots [5]. 3.2 Option Market Data Statistics - For corn options, the trading volume was 114,451 lots, an increase of 13,129 lots. The trading volume PCR was 0.644, a decrease of 0.025. The open interest was 412,397 lots, a decrease of 195 lots, and the open interest PCR was 0.818, a decrease of 0.001 [9]. - For soybean meal options, the trading volume was 344,631 lots, an increase of 34,379 lots. The trading volume PCR was 0.966, an increase of 0.032. The open interest was 1,035,482 lots, an increase of 5,011 lots, and the open interest PCR was 0.711, a decrease of 0.012 [9]. 3.3 Option Volatility Situation - For corn options, the option weighted implied volatility was 11.67%, an increase of 1.73 percentage points with a change rate of 17.43%. The 30 - day historical volatility was 7.70%, and the 30 - day volatility quantile was 0.04 [18]. - For soybean meal options, the option weighted implied volatility was 22.12%, an increase of 4.83 percentage points with a change rate of 27.91%. The 30 - day historical volatility was 10.81%, and the 30 - day volatility quantile was 0.00 [18].