聚酯期权早报-20260330

Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - For all options (EG, PF, PR, PX, TA), it is recommended to build a bull spread combination strategy of call options for directional trading to obtain directional returns, and due to high geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [8][21][33][45][58] 3. Summary by Related Catalogs 3.1 EG (Ethylene Glycol) - 标的期货市场数据: The closing price of the eg2605 contract yesterday was 5058 yuan, up 58 yuan (1.16%) from the previous day. The trading volume was 640,779 lots (down 119,965 lots from the previous day), and the open interest was 283,033 lots (down 3,202 lots from the previous day). The trading volume of EG (ethylene glycol options) was 705,617 lots, and the open interest was 295,639 lots [4][7] - 期权因子 - 量仓PCR: The trading volume of EG (ethylene glycol call options) was 20,898 lots (down 1,560 lots), and the open interest was 22,032 lots (up 2,013 lots), with a trading volume PCR of 0.63 (down 0.04) and an open interest PCR of 1.24 (up 0.01). The trading volume of EG (ethylene glycol put options) was 32,082 lots (down 3,137 lots), and the open interest was 68,209 lots (up 3,195 lots) [5] - 期权因子 - 压力支撑: The pressure level of the EG option underlying is 5,000, and the support level is 4,000 [7] - 行情解读与策略建议: The implied volatility of EG options fluctuates above the average of 0.2273. The open interest PCR of EG options is reported at 1.2262, at the 94.29% level in the past year. It is recommended to build a bull spread combination strategy of call options for directional trading and avoid seller - based strategies due to geopolitical risks [7][8] 3.2 PF (Polyester Staple Fiber) - 标的期货市场数据: The closing price of the PF606 contract yesterday was 8,260 yuan, up 200 yuan (2.48%) from the previous day. The trading volume was 133,895 lots (down 36,229 lots from the previous day), and the position transfer volume was 134,923 lots (up 5,072 lots). The trading volume of PF (polyester staple fiber options) was 169,526 lots, and the open interest was 136,530 lots [17][20] - 期权因子 - 量仓PCR: The trading volume of PF (polyester staple fiber call options) was 1,006 lots (down 22 lots), and the open interest was 11,841 lots. The trading volume PCR was 59.18, and the open interest PCR was 1.55. The trading volume of PF (polyester staple fiber put options) was 1,006 lots (down 213 lots), and the open interest was 18,385 lots (up 19 lots) [18] - 期权因子 - 压力支撑: The pressure level of the PF option underlying is 8,400, and the support level is 6,100 [19][20] - 行情解读与策略建议: The implied volatility of PF options fluctuates above the average of 0.2256. The open interest PCR of PF options is reported at 1.5512, at the 95.51% level in the past year. It is recommended to build a bull spread combination strategy of call options like B PF2606C8200, S PF2606C8700 for directional trading and avoid seller - based strategies due to geopolitical risks [20][21] 3.3 PR (Bottle Chip) - 标的期货市场数据: The closing price of the PR605 contract yesterday was 8,104 yuan, up 124 yuan (1.55%) from the previous day. The trading volume was 53,054 lots (down 24,045 lots from the previous day), and the open interest was 37,800 lots (down 1,525 lots). The trading volume of PR (bottle chip options) was 58,278 lots, and the open interest was 3,567 lots [29][32] - 期权因子 - 量仓PCR: The trading volume of PR (bottle chip call options) was 96 lots, and the open interest was 3,662 lots. The trading volume PCR was 2.57, and the open interest PCR was 0.97 (up 0.03). The trading volume of PR (bottle chip put options) was 247 lots (up 172 lots), and the open interest was 3,546 lots (up 115 lots) [30] - 期权因子 - 压力支撑: The pressure level of the PR option underlying is 7,000, and the support level is 6,300 [31][32] - 行情解读与策略建议: The implied volatility of PR options fluctuates above the average of 0.2353. The open interest PCR of PR options is reported at 0.9364, at the 33.47% level in the past year. It is recommended to build a bull spread combination strategy of call options for directional trading and avoid seller - based strategies due to geopolitical risks [32][33] 3.4 PX (Para - xylene) - 标的期货市场数据: The closing price of the PX605 contract yesterday was 9,774 yuan, up 348 yuan (3.69%) from the previous day. The trading volume was 379,894 lots (down 158,576 lots from the previous day), and the open interest was 168,964 lots (down 3,321 lots). The trading volume of PX (para - xylene options) was 57,375 lots, and the open interest was 177,302 lots [41][44] - 期权因子 - 量仓PCR: The trading volume of PX (para - xylene call options) was 1,349,230 lots (up 703,794 lots), and the open interest was 14,559 lots (down 168,548 lots), with a trading volume PCR of 0.77 (up 0.01) and an open interest PCR of 1.04 (down 0.12). The trading volume of PX (para - xylene put options) was 1,034,380 lots (up 543,285 lots), and the open interest was 15,116 lots (down 196,331 lots) [42] - 期权因子 - 压力支撑: The pressure level of the PX option underlying is 11,000, and the support level is 9,000 [43][44] - 行情解读与策略建议: The implied volatility of PX options fluctuates above the average of 0.2916. The open interest PCR of PX options is reported at 1.1548, at the 78.37% level in the past year. It is recommended to build a bull spread combination strategy of call options like B PX2605C9700, S PX2605C10400 for directional trading and avoid seller - based strategies due to geopolitical risks [44][45] 3.5 TA (Purified Terephthalic Acid) - 标的期货市场数据: The closing price of the TA605 contract yesterday was 6,778 yuan, up 242 yuan (3.70%) from the previous day. The trading volume was 1,068,670 lots (down 430,957 lots from the previous day), and the open interest was 967,886 lots (up 9,742 lots). The trading volume of TA (purified terephthalic acid options) was 1,240,270 lots, and the open interest was 958,523 lots [54][57] - 期权因子 - 量仓PCR: The trading volume of TA (purified terephthalic acid call options) was 222,262 lots (up 17,041 lots), and the open interest was 205,850 lots (up 7,332 lots), with a trading volume PCR of 0.55 (down 0.04) and an open interest PCR of 1.22 (down 0.01). The trading volume of TA (purified terephthalic acid put options) was 123,041 lots (up 1,176 lots), and the open interest was 250,808 lots (up 6,484 lots) [55] - 期权因子 - 压力支撑: The pressure level of the TA option underlying is 8,500, and the support level is 5,000 [56][57] - 行情解读与策略建议: The implied volatility of TA options fluctuates above the average of 0.2759. The open interest PCR of TA options is reported at 1.2307, at the 90.61% level in the past year. It is recommended to build a bull spread combination strategy of call options for directional trading and avoid seller - based strategies due to geopolitical risks [57][58]