玉米期价小幅波动，期权隐波小幅下降豆粕期价大幅上涨，期权隐波保持稳定

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - Corn futures prices showed slight fluctuations, and the implied volatility of corn options decreased slightly [1][2] - Soybean meal futures prices rose significantly, and the implied volatility of soybean meal options remained stable [1][2] 3. Summary According to Related Catalogs 3.1 Futures Market Data Statistics - Corn futures contract C2511 closed at 2165 yuan/ton, up 1 yuan or 0.05%, with a trading volume of 398,761 lots (an increase of 20,327 lots) and an open interest of 729,266 lots (a decrease of 17,708 lots) [3] - Soybean meal futures contract M2601 closed at 2967 yuan/ton, up 37 yuan or 1.26%, with a trading volume of 1,262,657 lots (an increase of 36,004 lots) and an open interest of 1,937,464 lots (a decrease of 97,619 lots) [3] 3.2 Option Market Data Statistics - Corn option trading volume was 92,930 lots (an increase of 7,676 lots), with a volume PCR of 0.544 (a decrease of 0.201), an open interest of 371,768 lots (an increase of 14,667 lots), and an open interest PCR of 0.518 (a decrease of 0.007) [8] - Soybean meal option trading volume was 291,780 lots (a decrease of 41,682 lots), with a volume PCR of 0.693 (a decrease of 0.334), an open interest of 989,264 lots (a decrease of 6,368 lots), and an open interest PCR of 0.560 (an increase of 0.007) [8] 3.3 Option Volatility Situation - The weighted implied volatility of corn options was 10.93% (a decrease of 0.67 percentage points or 5.75%), and the 30 - day historical volatility was 14.72%, with a 30 - day volatility quantile of 0.95 [18] - The weighted implied volatility of soybean meal options was 14.68% (an increase of 0.06 percentage points or 0.40%), and the 30 - day historical volatility was 15.21%, with a 30 - day volatility quantile of 0.27 [18]