市场情绪有所回升，股指震荡上涨

Report's Industry Investment Rating - No information provided regarding the industry investment rating 2. Core Viewpoints of the Report - On February 9, 2026, all stock indices fluctuated and rose, with the trading volume of the Shanghai, Shenzhen, and Beijing stock markets reaching 2270.2 billion yuan, an increase of 106.7 billion yuan compared to the previous day [3]. - Market sentiment improved as silver stopped falling and rebounded, and the operation logic of stock indices returned to their fundamentals [3]. - The positive policy expectations and the continuous net - inflow of incremental funds into the stock market remain unchanged, which form the core logic for the medium - to - long - term upward movement of stock indices [3]. - In the short term, macroeconomic indicators have weakened, the pressure of "weak reality" has increased, and due to the approaching long holiday, the capital market has become more cautious, so the upward momentum of stock indices is expected to be insufficient [3]. - In general, the short - term risk of the stock market is cautiously optimistic, and stock indices will mainly fluctuate and consolidate within a range [3]. - For options, the implied volatility at the money has recently increased. Since the medium - to - long - term upward logic of stock indices is relatively solid, the bull spread strategy is maintained [3]. 3. Summary of Each Section 3.1 Option Indicators - On February 9, 2026, 50ETF rose 1.48% to close at 3.161; 300ETF (SSE) rose 1.68% to close at 4.727; 300ETF (SZSE) rose 1.61% to close at 4.928; CSI 300 Index rose 1.63% to close at 4719.06; CSI 1000 Index rose 2.26% to close at 8233.78; 500ETF (SSE) rose 2.22% to close at 8.395; 500ETF (SZSE) rose 2.20% to close at 3.338; ChiNext ETF rose 2.85% to close at 3.321; Shenzhen 100ETF rose 1.96% to close at 3.494; SSE 50 Index rose 1.45% to close at 3081.78; STAR 50ETF rose 2.40% to close at 1.54; E Fund STAR 50ETF rose 2.48% to close at 1.49 [6]. - The trading volume PCR and position PCR of various options changed compared to the previous trading day [7]. - The implied volatility at the money and the 30 - day historical volatility of the underlying assets of various options on February 2026 are provided [8][9]. 3.2 Related Charts - SSE 50ETF Options: The report includes charts on the SSE 50ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [10][11][12]. - SSE 300ETF Options: There are charts on the SSE 300ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [21][22]. - SZSE 300ETF Options: The charts cover the SZSE 300ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [24][25]. - CSI 300 Index Options: The report presents charts on the CSI 300 index trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [28][29]. - CSI 1000 Index Options: There are charts on the CSI 1000 index trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [37][38]. - SSE 500ETF Options: The charts include the SSE 500ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [51][52]. - SZSE 500ETF Options: The report provides charts on the SZSE 500ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [63][64]. - ChiNext ETF Options: There are charts on the ChiNext ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [76][77]. - Shenzhen 100ETF Options: The charts include the Shenzhen 100ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [86][87]. - SSE 50 Index Options: The report presents charts on the SSE 50 index trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [99][100]. - STAR 50ETF Options: There are charts on the STAR 50ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [112][113]. - E Fund STAR 50ETF Options: The charts cover the E Fund STAR 50ETF trend, option volatility, trading volume PCR, position PCR, implied volatility curve, and implied volatility at the money for different tenors [121][122].