Nanhua Futures(SH:603093) Nan Hua Qi Huo·2025-09-08 02:37Report Industry Investment Rating - Not provided in the report. Core Viewpoints - This week, the trading volume of commodity options increased by 24.24% compared to last week, and the open interest increased by 5.29%. The sentiment in the options market has warmed up compared to last week. At the same time, the implied volatility of options generally increased. The implied volatility of gold and silver options increased by more than 5 percentage points compared to a week ago, and they are currently at the 50%-60% and 70%-80% historical percentile levels respectively. Additionally, the main futures contract of polysilicon hit the daily limit, and the implied volatility of its options rose by more than 6 percentage points, currently above the 90% historical percentile level [2][5]. Summary by Related Catalogs Commodity Option Data - As of the close on Friday, the implied volatility of crude oil options was 28.09%, up 0.80% from a week ago; lithium carbonate options was 37.08%, up 0.56%; rebar options was 18.33%, up 6.65%; soda ash options was 19.79%, up 0.62%; gold options was 14.80%, up 0.62%; silver options was 26.40%, up 5.94%; palm oil options was 14.43%, down 0.81%; soybean oil options was 19.10%, down 0.04%; rapeseed oil options was 21.95%, up 3.56%; and rubber options was 11.23%, up 0.07% [1][4]. Figures - There are multiple figures showing the trading volume, open interest, implied volatility, historical volatility, skewness structure, and term structure of various commodity options, including crude oil, lithium carbonate, rebar, soda ash, gold, silver, palm oil, soybean oil, rapeseed oil, and rubber options [6][14][20].