Report Summary 1. Report Industry Investment Rating - No information provided in the given content 2. Core View of the Report - On November 18, the A - share market fluctuated downward with over 4100 stocks falling. The lithium - battery industry chain had a full - scale correction, and sectors like electrolyte and solid - state batteries led the decline. Industries such as steel, chemical, coal, and non - ferrous metals had relatively large declines. The board index fell 1.16%, the North Securities 50 fell 2.92%, the Science and Technology Innovation 50 rose 0.29%, the Wind All - A fell 0.93%, the Wind A500 fell 0.82%, and the CSI A500 fell 0.79%. The A - share trading volume for the whole day was 1.95 trillion yuan, compared with 1.93 trillion yuan the previous day [5] 3. Summary by Relevant Catalogs Market Index Quotes - **Index Closing Prices and Changes**: The closing price of the Shanghai Composite 50 was 1062.01, down 0.30%, with a trading volume of 43.59 billion yuan and a turnover of 177.71 billion; the Shanghai and Shenzhen 300 closed at 4568.1928, down 0.65%, with a trading volume of 277.48 billion yuan and a turnover of 7448.1007 billion, and another data point showed a 1.00% decline and a trading volume of 4180.65 billion; the CSI 1000 data was not fully presented in terms of closing price and change [3] CFFEX Stock Index Option Trading Situation - **Option Volume and Position**: For the Shanghai Composite 50, the call option volume was 2.92 million, the put option volume was 0.56 million, the total option volume was 7.82 million, the call option position was 3.18 million, the put option position was 0.69 million, the total position was 4.54 million, the volume PCR was 1.63, and the position PCR was 4.63. For the Shanghai and Shenzhen 300, the call option volume was 9.30 million, the put option volume was 6.63 million, the volume PCR was 0.71, the call option position was 23.59 million, the put option position was 13.26 million, the total position was 10.33 million, the position PCR was 0.78, and another position - related value was 15.93 million. For the CSI 1000, the call option volume was 32.35 million, the put option volume was 17.54 million, the total option volume was 33.59 million, the call option position was 14.81 million, the put option position was 0.84 million, the total position was 16.99 million, the volume PCR was 16.60, and the position PCR was 0.98 [3] Volatility Analysis - **Historical Volatility and Volatility Cone**: Historical volatility and volatility cone data were presented for the Shanghai Composite 50, Shanghai and Shenzhen 300, and CSI 1000, including different percentile values (such as 10%, 30%, 60%, 90% etc.) and the current value, as well as data for different time - periods (5 - day, 20 - day, 40 - day, 60 - day, 120 - day). Volatility smile curves and next - month at - the - money implied volatility were also provided for each index [3][4]

Report Information - Report Title: Index Option Data Daily Report [2] - Date: November 17, 2025 [3] - Author: Li Zeju from the Financial Derivatives Center of Guomao Futures Research Institute [3] - Data Sources: Wind, Guomao Futures Research Institute [3] Market Review Index Performance - **Shanghai Composite Index**: On November 14, it rose and then fell, closing down 0.97% at 3990.49 points, hitting a 10 - year high intraday, down 0.18% for the week [5] - **Shenzhen Component Index**: Down 1.93% on November 14, down 1.4% for the week [5] - **ChiNext Index**: Down 2.82% on November 14, down 3.01% for the week [5] - **North - Star 50 Index**: Down 1.01% on November 14 [5] - **STAR 50 Index**: Down 2.72% on November 14 [5] - **Wind All - A Index**: Down 1.27% on November 14 [5] - **Wind A500 Index**: Down 1.6% on November 14 [5] - **CSI A500 Index**: Down 1.61% on November 14 [5] - **Total A - share trading volume**: 1.98 trillion yuan on November 14, compared with 2.07 trillion yuan the previous day [5] Index Details | Index | Volume (billion) | Closing Price | Change (%) | Turnover (billion yuan) | | --- | --- | --- | --- | --- | | SSE 50 | 48.80 | 3038.4255 | - 1.15 | 1203.76 | | CSI 300 | 192.09 | 4628.1398 | - 1.57 | 4447.20 | | CSI 1000 | 271.97 | 4062.93 | - 1.16 | 7502.7567 | [3] CFFEX Index Option Trading | Index | Call Option Volume (million) | Put Option Volume (million) | Volume PCR | Option Open Interest (million) | Call Option Open Interest (million) | Put Option Open Interest (million) | Open Interest PCR | | --- | --- | --- | --- | --- | --- | --- | --- | | SSE 50 | 3.34 | 2.00 | 0.67 | 7.19 | 3.10 | 0.76 | 1.34 | | CSI 300 | 6.85 | 0.64 | 11.50 | 9.85 | 0.86 | 11.20 | 4.36 | | CSI 1000 | 25.93 | 13.47 | 0.92 | 32.91 | 17.25 | 12.46 | 1.566 | [3] Volatility Analysis - **SSE 50**: Historical volatility and volatility smile curve are presented, with data on historical volatility cone including 10%, 30%, 60%, 90% quantile values, minimum, maximum, and current value, as well as next - month at - the - money implied volatility [3][4] - **CSI 300**: Similar to SSE 50, historical volatility, volatility cone, and next - month at - the - money implied volatility are provided [3][4] - **CSI 1000**: Historical volatility, volatility cone, and next - month at - the - money implied volatility data are shown [3][4]

Report Overview - The report is an index option data daily report by Guomao Futures Research Institute on October 31, 2025, focusing on the performance of Shanghai - Shenzhen stock index options [2][3] Index Market Performance Index Closing Price and Change - The Shanghai Composite 50 index closed at 1847.30, down 0.54%, with a turnover of 3046.6108 billion yuan and a trading volume of 65.74 billion [3] - The CSI 300 index closed at 7199.56, down 0.80%, with a turnover of 4709.911 billion yuan and a trading volume of 273.29 billion [3] - The CSI 1000 index closed at 4785.07, down 1.11%, with a turnover of 7485.0848 billion yuan and a trading volume of 297.39 billion [3] Overall A - Share Market - On October 30, the A - share market declined with heavy trading volume, and technology stocks adjusted across the board. The Shanghai Composite Index fell 0.73% to 3986.9 points, the Shenzhen Component Index fell 1.16%, the ChiNext Index fell 1.84%, the CSI 300 fell 0.8%, the Beijing Stock Exchange 50 fell 1.3%, the STAR 50 fell 1.87%, the Wind All - A fell 1.05%, the Wind A500 fell 0.82%, and the CSI A500 fell 0.88%. The total trading volume of A - shares was 2.46 trillion yuan, compared with 2.29 trillion yuan the previous day [5] CFFEX Index Option Trading Option Trading Volume - For the Shanghai Composite 50 index options, the trading volume of call options was 2.73 million contracts, and that of put options was 2.94 million contracts, with a trading volume PCR of 0.36. The open interest of call options was 3.96 million contracts, and that of put options was 4.00 million contracts, with an open - interest PCR of 1.07 [3] - For the CSI 300 index options, the trading volume of call options was 5.47 million contracts, and that of put options was 14.67 million contracts, with a trading volume PCR of 0.59. The open interest of call options was 8.49 million contracts, and that of put options was 9.11 million contracts, with an open - interest PCR of 0.93 [3] - For the CSI 1000 index options, the trading volume of call options was 28.72 million contracts, and that of put options was 28.34 million contracts, with a trading volume PCR of 0.89. The open interest of call options was 13.36 million contracts, and that of put options was 13.91 million contracts, with an open - interest PCR of 1.07 [3] Index Volatility Analysis Volatility Data - The report presents historical volatility cones and volatility smile curves for the Shanghai Composite 50, CSI 300, and CSI 1000 indexes, including historical volatility data for 5 - day, 20 - day, 40 - day, 60 - day, and 120 - day periods, as well as the current values and percentile values of historical volatility [3][4]

Report Summary 1. Market Performance Overview - On October 29, A-shares performed strongly. The Shanghai Composite Index reached 4000 points, hitting a new rebound high. The ChiNext Index soared nearly 3%, and the Beixin 50 skyrocketed over 8%, achieving its largest single - day gain in 9 months. The Shanghai Composite Index closed up 0.7% at 4016.33 points, the Shenzhen Component Index rose 1.95%, the ChiNext Index climbed 2.93%, the Beixin 50 jumped 8.41%, the Kechuang 50 increased 1.18%, the Wind All - A rose 1.16%, the Wind A500 advanced 1.55%, and the CSI A500 went up 1.34%. A - shares had a full - day trading volume of 2.29 trillion yuan, compared with 2.17 trillion yuan the previous day [5] 2. Index Quotes | Index | Closing Price | Change (%) | Trading Volume (Billion Yuan) | Trading Volume (Billion) | | --- | --- | --- | --- | --- | | SSE 50 | 3063.021 | 0.41 | 60.14 | - | | CSI 300 | 4747.8378 | 1.20 | 246.21 | 1.19 | | CSI 1000 | - | - | 4391.62 | - | [3] 3. CFFEX Stock Index Options Trading | Index | Call Option Volume (Million Contracts) | Put Option Volume (Million Contracts) | Volume PCR | Option Open Interest (Million Contracts) | Call Option Open Interest (Million Contracts) | Put Option Open Interest (Million Contracts) | Open Interest PCR | | --- | --- | --- | --- | --- | --- | --- | --- | | SSE 50 | 2.46 | 1.75 | 0.71 | 6.60 | 2.70 | 3.91 | 0.69 | | CSI 300 | 10.83 | 4.46 | 0.70 | 16.96 | 8.05 | 8.90 | 0.90 | | CSI 1000 | 11.10 | 0.81 | - | 28.17 | 13.54 | 14.63 | 1.08 | [3] 4. Volatility Analysis - **SSE 50**: Historical volatility data and volatility smile curve for the next - month at - the - money implied volatility are presented, including historical volatility cone with values such as 10% and 90% quantiles [3][4] - **CSI 300**: Similar to SSE 50, historical volatility and volatility smile curve for the next - month at - the - money implied volatility are shown, along with historical volatility cone [3][4] - **CSI 1000**: Historical volatility analysis and volatility smile curve for the next - month at - the - money implied volatility are provided, including historical volatility cone [3][4]

Report Information - Report Title: Stock Index Options Data Daily Report [2] - Date: October 29, 2025 [3] - Author: Li Zeju, Financial Derivatives Center, Guomao Futures Research Institute [3] - Data Sources: Wind and Guomao Futures Research Institute [3] Market Review Index Performance - Shanghai Composite Index declined 0.22% to 3988.22 points, Shenzhen Component Index dropped 0.44%, ChiNext Index fell 0.15%, Northbound 50 Index decreased 1.2%, STAR 50 Index declined 0.84%, Wind All A Index dropped 0.34%, Wind A500 Index decreased 0.6%, and CSI A500 Index declined 0.54% [5][6] - A-share trading volume was 2.17 trillion yuan, compared to 2.36 trillion yuan the previous day [6] Index Volume and Price | Index | Volume (billion) | Closing Price | Change (%) | Turnover (billion yuan) | | --- | --- | --- | --- | --- | | SSE 50 | 54.63 | 3050.4162 | -0.62 | 1487.20 | | CSI 300 | 220.91 | 4691.973 | -0.51 | 5715.63 | | CSI 1000 | 251.80 | 7479.221 | -0.22 | 4310.16 | [3] CFFEX Stock Index Options Trading Option Volume and Open Interest | Index | Call Option Volume (million contracts) | Put Option Volume (million contracts) | Volume PCR | Call Option Open Interest (million contracts) | Put Option Open Interest (million contracts) | Open Interest PCR | Total Open Interest (million contracts) | | --- | --- | --- | --- | --- | --- | --- | --- | | SSE 50 | 2.26 | 3.34 | 0.69 | 3.80 | 2.61 | 0.48 | 6.41 | | CSI 300 | 11.39 | 6.51 | 0.75 | 8.60 | 7.43 | 0.86 | 16.02 | | CSI 1000 | 21.93 | 11.76 | 0.87 | 13.81 | 10.18 | 1.02 | 27.83 | [3] Volatility Analysis Historical Volatility and Volatility Smile Curve - The report presents historical volatility cones and volatility smile curves for SSE 50, CSI 300, and CSI 1000, including historical volatility at different time intervals (5-day, 20-day, 40-day, 60-day, 120-day) and implied volatility of at-the-money options for the next month [3][4]

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The report presents a daily data analysis of stock index options, including market trends, trading volume, open interest, and volatility of major indices such as SSE 50, CSI 300, and CSI 1000 [3][4] 3. Summary by Relevant Catalogs 3.1 Market Review - **Index Performance**: SSE 50 rose 0.78% to close at 1,852.95, with a trading volume of 70.41 billion and a turnover of 306.95293 billion yuan; CSI 300 rose 1.03%, with relevant trading volume and turnover data; CSI 1000 also had corresponding performance data [3] - **Overall Market**: The Shanghai Composite Index rose 1.18% to 3,996.94 points, the Shenzhen Component Index rose 1.51%, the ChiNext Index rose 1.98%, the North Star 50 fell 0.2%, the STAR 50 rose 1.5%, the Wind All A rose 1.19%, the Wind A500 rose 1.32%, and the CSI A500 rose 1.3%. A-share trading volume reached 2.36 trillion yuan, up from 1.99 trillion yuan the previous day [5] 3.2 CFFEX Stock Index Options Trading Situation - **Trading Volume and Open Interest**: For SSE 50 options, call option trading volume was 3.70 million contracts, put option trading volume was 3.97 million contracts, call option open interest was 2.61 million contracts, put option open interest was 2.57 million contracts, etc. Similar data were provided for CSI 300 and CSI 1000 options [3] - **PCR (Put - Call Ratio)**: PCR data for trading volume and open interest were presented for SSE 50, CSI 300, and CSI 1000 options [3] 3.3 Volatility Analysis - **Historical Volatility and Volatility Cone**: Historical volatility and volatility cone data were analyzed for SSE 50, CSI 300, and CSI 1000, including different percentile values and the current value [3][4] - **Volatility Smile Curve**: Volatility smile curves for the next - month at - the - money implied volatility were shown for SSE 50, CSI 300, and CSI 1000 [3][4]

Report Industry Investment Rating - No relevant content provided Core Viewpoints - The report presents the daily data of stock index options, including the performance of major indices, trading volume and open interest of index options, and volatility analysis of different indices [3][4] Summary by Directory Market Review - **Index Performance**: The Shanghai Composite Index fell 0.19% to 3889.5 points, the Shenzhen Component Index fell 0.93%, the ChiNext Index fell 1.11%, the Northbound 50 Index fell 1.29%, the Science and Technology Innovation 50 Index rose 1.4%, the Wind All - A Index fell 0.35%, the Wind A500 Index fell 0.5%, and the CSI A500 Index fell 0.49%. A - share trading volume was 2.37 trillion yuan, down from 2.53 trillion yuan the previous day [4] - **Index Details**: The closing price of the SSE 50 was 2967.206, down 0.26%, with a turnover of 70.16 billion yuan and a trading volume of 1.85783 billion; the CSI 300 closed at 7140.02, down 0.50%, with a turnover of 315.01 billion yuan and a trading volume of 45.939785 billion; the CSI 1000 closed at 7519.7636, down 0.19%, with a turnover of 470.991 billion yuan and a trading volume of 28.84 billion [3] CFFEX Stock Index Options Trading - **Trading Volume and Open Interest**: For the SSE 50, the trading volume of call options was 3.79 million, put options 7.72 million, with a trading volume PCR of 0.72; the open interest of call options was 6.46 million, put options 2.67 million, with an open interest PCR of 0.41. For the CSI 300, the trading volume of call options was 22.43 million, put options 19.79 million, with a trading volume PCR of 0.88; the open interest of call options was 10.54 million, put options 9.25 million, with an open interest PCR of 0.88. For the CSI 1000, the trading volume of call options was 23.21 million, put options 29.23 million, with a trading volume PCR of 1.26; the open interest of call options was 14.72 million, put options 14.51 million, with an open interest PCR of 0.99 [3] Volatility Analysis - **SSE 50**: Historical volatility and volatility smile curves are presented, with the current historical volatility value shown in the historical volatility cone [3][4] - **CSI 300**: Similar to the SSE 50, historical volatility and volatility smile curves are provided [3][4] - **CSI 1000**: Historical volatility and volatility smile curves are also presented [3][4]

Report Summary 1. Core View - A-shares fluctuated lower, with the ChiNext Index falling more than 2% and breaking below 3,200 points. Technology stocks corrected across the board. The Shanghai Composite Index closed down 0.65% at 3,828.11 points, the Shenzhen Component Index fell 1.76%, the ChiNext Index dropped 2.6%, the Beijing Stock Exchange 50 declined 1.81%, the Science and Technology Innovation 50 decreased 1.6%, the Wind All-A fell 1.2%, the Wind A500 dropped 1%, and the CSI A500 decreased 1.14%. A-share trading volume was 2.17 trillion yuan for the day, compared with 2.39 trillion yuan the previous day [5]. 2. Market Data Index Quotes | Index | Closing Price | Change (%) | Trading Volume (billion yuan) | Trading Volume (billion shares) | | ---- | ---- | ---- | ---- | ---- | | SSE 50 | 1,899.69 | 70.63 | 2973.0417 | 1.09 | | CSI 300 | 6,933.95 | 274.36 | 1.54 | 7497.8308 | | CSI 1000 | 1.36 | 258.68 | - | - | [3] CFFEX Stock Index Option Trading | Index | Call Option Volume (million contracts) | Put Option Volume (million contracts) | Total Volume (million contracts) | Call Option Open Interest (million contracts) | Put Option Open Interest (million contracts) | Total Open Interest (million contracts) | Volume PCR | Open Interest PCR | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | SSE 50 | 7.41 | 5.10 | 2.31 | 7.14 | 0.70 | 0.45 | 4.20 | 2.94 | | CSI 300 | 17.60 | 11.38 | 6.22 | 0.55 | 17.86 | 9.31 | 8.55 | 0.92 | | CSI 1000 | 30.66 | 17.05 | 0.80 | 27.35 | 13.61 | 13.63 | 0.99 | - | [3] Volatility Analysis - The report presents historical volatility and volatility cones for the SSE 50, CSI 300, and CSI 1000, as well as their respective volatility smile curves and next-month at-the-money implied volatility [3][4].

Report Summary 1. Market Performance Review - The Shanghai Composite Index rose 0.34% to close at 3647.55 points, the Shenzhen Component Index rose 1.46%, the ChiNext Index rose 1.96%, the Beijing Stock Exchange 50 rose 1.18%, the Science and Technology Innovation 50 rose 0.59%, the Wind All A rose 0.99%, the Wind A500 rose 0.63%, and the CSI A500 rose 0.71% [10]. - A - share trading volume reached 1.85 trillion yuan throughout the day, compared with 1.74 trillion yuan the previous day [10]. 2. Index Performance Details | Index | Closing Price | Change (%) | Turnover (billion yuan) | Trading Volume (billion) | | --- | --- | --- | --- | --- | | SSE 50 | 2789.8959 | 0.03 | 903.34 | 43.48 | | CSI 300 | 4122.5106 | 0.43 | 3606.86 | 190.44 | | CSI 1000 | 6943.9366 | 1.55 | 4011.63 | 260.97 | [4] 3. CFFEX Stock Index Option Trading | Index | Option Trading Volume (million contracts) | Call Option Volume | Put Option Volume | PCR | Option Open Interest (million contracts) | Call Option Open Interest | Put Option Open Interest | Open Interest PCR | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | SSE 50 | 4.49 | 2.81 | 1.68 | 0.60 | 7.81 | 5.09 | 2.72 | 0.53 | | CSI 300 | 11.64 | 7.49 | 4.15 | 0.55 | 21.19 | 12.10 | 9.09 | 0.75 | | CSI 1000 | 32.18 | 18.10 | 14.08 | 0.78 | 29.47 | 13.65 | 15.82 | 1.16 | [4] 4. Volatility Analysis - The report includes historical volatility chains and next - month at - the - money implied volatility smile curves for SSE 50, CSI 300, and CSI 1000 [6][8][10].

Market Overview - The Shanghai Composite Index dropped 0.33% to 3593.66 points, the Shenzhen Component Index declined 0.22%, the ChiNext Index fell 0.23%, the North Securities 50 Index rose 0.52%, the Science and Technology Innovation 50 Index increased 2.07%, the Wind All A Index dropped 0.13%, the Wind A500 Index declined 0.41%, and the CSI A500 Index fell 0.36%. A-share trading volume was 1.82 trillion yuan for the day, compared with 1.87 trillion yuan the previous day [11] Index Quotes Closing Price and Fluctuation - The Shanghai 50 Index closed at 2795.5127, down 0.60%; the CSI 300 Index closed at 4127.1634, down 0.53%; the CSI 1000 Index closed at 6706.6098, up 0.08% [4] Trading Volume and Turnover - The trading volume of the Shanghai 50 Index was 51.69 billion, with a turnover of 1140.43 billion yuan; the CSI 300 Index had a trading volume of 273.59 billion and a turnover of 4304.46 billion yuan; the CSI 1000 Index had a trading volume of 264.00 billion and a turnover of 3631.40 billion yuan [4] CFFEX Stock Index Option Trading Option Trading Volume - The trading volume of Shanghai 50 Index options was 3.43 million contracts, including 2.35 million call options and 1.07 million put options, with a PCR of 0.46; the CSI 300 Index options had a trading volume of 7.29 million contracts, including 4.53 million call options and 2.76 million put options, with a PCR of 0.61; the CSI 1000 Index options had a trading volume of 15.39 million contracts, including 8.99 million call options and 6.40 million put options, with a PCR of 0.71 [4] Option Open Interest - The open interest of Shanghai 50 Index options was 6.73 million contracts, including 4.39 million call options and 2.34 million put options, with a PCR of 0.53; the CSI 300 Index options had an open interest of 18.37 million contracts, including 10.74 million call options and 7.63 million put options, with a PCR of 0.71; the CSI 1000 Index options had an open interest of 23.87 million contracts, including 12.24 million call options and 11.63 million put options, with a PCR of 0.95 [4] Volatility Analysis Shanghai 50 Volatility - Includes historical volatility analysis and the next - month at - the - money implied volatility and volatility smile curve analysis [9] CSI 300 Volatility - Includes historical volatility analysis and the next - month at - the - money implied volatility and volatility smile curve analysis [9] CSI 1000 Volatility - Includes historical volatility analysis and the next - month at - the - money implied volatility and volatility smile curve analysis [9]