瑞达期货股指期货全景日报-20260211

1. Report Industry Investment Rating - Not provided in the report 2. Core View of the Report - In January 2026, China's CPI increased by 0.2% year-on-year and 0.2% month-on-month, while PPI decreased by 1.4% year-on-year and increased by 0.4% month-on-month. The decline of PPI significantly narrowed, and the PPI-CPI gap narrowed. The overall inflation is expected to rebound, which will stimulate corporate and household investment and consumption. Before the Spring Festival, market liquidity was relatively tight, and the market preference decreased, tilting towards the value style. However, due to the expectation of the Two Sessions after the festival and stronger liquidity, some funds may pre - layout growth stocks before the holiday, and some hot topics may start early [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - Futures Contract Prices: The IF (2603) main contract was at 4714.8, down 5.8; the IH (2603) main contract was at 3091.4, up 2.6. The IC (2603) main contract was at 8336.4, up 36.0; the IM (2603) main contract was at 8241.0, up 1.2 [2]. - Futures Price Spreads: The IF - IH monthly contract spread was 1624.6, down 10.8; the IC - IF monthly contract spread was 3626.2, up 45.4. The IM - IC monthly contract spread was - 82.2, down 27.8; the IC - IH monthly contract spread was 5250.8, up 34.6 [2]. - Futures Seasonal - Monthly Spreads: IF seasonal - monthly was - 36.2, up 1.8; IH seasonal - monthly was - 3.6, down 0.4; IC seasonal - monthly was - 107.2, up 12.6; IM seasonal - monthly was - 173.6, up 18.0 [2]. - Futures Net Positions: The net position of the top 20 in IF was - 41,101.00, up 1264.0; the net position of the top 20 in IH was - 22,887.00, up 661.0; the net position of the top 20 in IC was - 45,109.00, up 393.0; the net position of the top 20 in IM was - 62,469.00, up 149.0 [2]. 3.2 Spot Market - Spot Index Prices: The Shanghai - Shenzhen 300 was at 4713.82, down 10.5; the Shanghai 50 was at 3088.5, up 1.1; the CSI 500 was at 8325.8, up 19.4; the CSI 1000 was not mentioned separately for price change [2]. - Basis: The basis of the IF main contract was 1.0, up 1.3; the basis of the IH main contract was 2.9, down 3.3; the basis of the IC main contract was 10.6, up 26.2; the basis of the IM main contract was not clearly presented in a proper format [2]. 3.3 Market Sentiment - Trading Volume and Balance: A - share trading volume was 20,010.43 billion yuan, down 10.8; margin trading balance was 26,604.75 billion yuan, down 39.26; north - bound trading volume was 2585.63 billion yuan, down 144.42 [2]. - Fund Flow: The main funds were - 441.81 billion yuan yesterday and - 528.08 billion yuan today [2]. - Option - related Data: The closing price of the IO at - the - money call option (2602) was 45.80, down 8.80; the implied volatility was 17.71%, up 1.10. The closing price of the IO at - the - money put option (2602) was 29.40, up 1.00; the implied volatility was 17.71%, up 1.10 [2]. - Volatility and PCR: The 20 - day volatility of the Shanghai - Shenzhen 300 index was 12.50%, down 0.05; the trading volume PCR was 53.92%, down 6.67; the open interest PCR was 64.55%, down 1.28 [2]. 3.4 Market Strength - Weakness Analysis - Overall A - shares: The strength - weakness index of all A - shares was 4.20, down 0.60; the technical index was 3.70, down 0.30; the capital index was 4.60, down 1.00 [2]. 3.5 Industry News - Stock Market Performance: Most A - share major indices closed down, with the Shanghai Composite Index rising 0.09%, the Shenzhen Component Index falling 0.35%, and the ChiNext Index falling 1.08%. The CSI 500 was the strongest among the four broad - based indices. The trading volume of the Shanghai and Shenzhen stock markets declined for two consecutive trading days, and more than 3200 stocks fell. Most industry sectors declined, with the communication sector weakening significantly and the building materials and non - ferrous metals sectors strengthening significantly [2]. 3.6 Key Data to Focus On - China's January financial data is to be determined; on February 11 at 21:30, the US January non - farm payrolls, unemployment rate, and labor participation rate will be released; on February 13 at 21:30, the US January CPI and core CPI will be released [3].