1. Report Industry Investment Rating No relevant information provided in the content. 2. Core Viewpoints of the Report No clear core viewpoints are presented in the content. It mainly provides data on various ETFs and indices, including price, volatility, and related quantile information. 3. Summary by Different ETFs and Indices 3.1 50ETF - The underlying asset price increased from 3.148 on October 22, 2025, to 3.192 on October 24, 2025, with cumulative increases of 0.13%, 0.60%, and 0.79% respectively [1]. - The current month IV was 15.10% on October 22, 15.20% on October 23, and 15.01% on October 24; the next month IV was 16.64%, 16.68%, and 16.45% respectively [1]. - The 1 - year and 2 - year IV quantiles of the current and next months are presented [1]. 3.2 Shanghai 300ETF - The underlying asset price rose from 4.695 on October 22, 2025, to 4.770 on October 24, 2025, with cumulative increases of - 0.32%, 0.38%, and 1.21% respectively [3]. - The current month IV was 16.69% on October 22, 16.91% on October 23, and 16.03% on October 24; the next month IV was 18.05%, 17.95%, and 17.30% respectively [3]. - The 1 - year and 2 - year IV quantiles of the current and next months are provided [3]. 3.3 Shenzhen 300ETF - The underlying asset price increased from 4.844 on October 22, 2025, to 4.916 on October 24, 2025, with cumulative increases of - 0.29%, 0.23%, and 1.26% respectively [6]. - The current month IV was 17.22% on October 22, 17.05% on October 23, and 16.44% on October 24; the next month IV was 18.42%, 18.38%, and 17.76% respectively [6]. - The 1 - year and 2 - year IV quantiles of the current and next months are shown [6]. 3.4 Shanghai CSI 500ETF - The underlying asset price went from 7.224 on October 22, 2025, to 7.369 on October 24, 2025, with cumulative increases of 0.89%, - 0.43%, and 2.01% respectively [15]. - The current month IV was 21.02% on October 22, 21.46% on October 23, and 19.79% on October 24; the next month IV was 21.87%, 22.49%, and 21.25% respectively [15]. - The 1 - year and 2 - year IV quantiles of the current and next months are available [15]. 3.5 Shenzhen CSI 500ETF - The underlying asset price increased from 2.886 on October 22, 2025, to 2.940 on October 24, 2025, with cumulative increases of - 0.69%, 0.24%, and 1.62% respectively [22]. - The current month IV was 21.33% on October 22, 21.72% on October 23, and 20.76% on October 24; the next month IV was 22.15%, 22.53%, and 21.73% respectively [22]. - The 1 - year and 2 - year IV quantiles of the current and next months are given [22]. 3.6 GEM ETF - The underlying asset price rose from 3.039 on October 22, 2025, to 3.147 on October 24, 2025, with cumulative increases of - 0.75%, - 0.03%, and 3.59% respectively [28]. - The current month IV was 29.28% on October 22, 29.10% on October 23, and 28.54% on October 24; the next month IV was 30.07%, 30.00%, and 29.61% respectively [28]. - The 1 - year and 2 - year IV quantiles of the current and next months are presented [28]. 3.7 Shenzhen 100ETF - The underlying asset price increased from 3.493 on October 22, 2025, to 3.569 on October 24, 2025, with cumulative increases of - 0.54%, 0.14%, and 2.03% respectively [37]. - The current month IV was 23.33% on October 22, 23.50% on October 23, and 22.71% on October 24; the next month IV was 24.22%, 23.78%, and 23.80% respectively [37]. - The 1 - year and 2 - year IV quantiles of the current and next months are provided [37]. 3.8 Science and Technology Innovation 50ETF - The underlying asset price went from 1.476 on October 22, 2025, to 1.535 on October 24, 2025, with cumulative increases of - 0.07%, - 0.20%, and 4.21% respectively [46]. - The current month IV was 34.06% on October 22, 34.89% on October 23, and 32.68% on October 24; the next month IV was 35.20%, 35.20%, and 34.18% respectively [46]. - The 1 - year and 2 - year IV quantiles of the current and next months are shown [46]. 3.9 Science and Technology Innovation Board 50ETF - The underlying asset price increased from 1.429 on October 22, 2025, to 1.487 on October 24, 2025, with cumulative increases of - 0.07%, - 0.35%, and 4.42% respectively [51]. - The current month IV was 34.31% on October 22, 34.55% on October 23, and 33.01% on October 24; the next month IV was 34.37%, 34.55%, and 34.64% respectively [51]. - The 1 - year and 2 - year IV quantiles of the current and next months are given [51]. 3.10 300 Index - The underlying asset price rose from 4592.570 on October 22, 2025, to 4660.684 on October 24, 2025, with cumulative increases of - 0.33%, 0.30%, and 1.18% respectively [59]. - The current month IV was 17.00% on October 22, 17.30% on October 23, and 15.88% on October 24; the next month IV was 18.00%, 18.22%, and 17.55% respectively [59]. - The 1 - year and 2 - year IV quantiles of the current and next months are presented [59]. 3.11 1000 Index - The underlying asset price increased from 7312.210 on October 22, 2025, to 7419.235 on October 24, 2025, with cumulative increases of - 0.43%, - 0.06%, and 1.52% respectively [64]. - The current month IV was 22.42% on October 22, 21.95% on October 23, and 20.58% on October 24; the next month IV was 23.26%, 23.33%, and 22.38% respectively [64]. - The 1 - year and 2 - year IV quantiles of the current and next months are provided [64]. 3.12 Shanghai Composite 50 Index - The underlying asset price rose from 3010.095 on October 22, 2025, to 3045.816 on October 24, 2025, with cumulative increases of 0.09%, 0.56%, and 0.62% respectively [73]. - The current month IV was 14.88% on October 22, 15.86% on October 23, and 15.82% on October 24; the next month IV was 52.31%, 54.67%, and 57.72% respectively [73]. - The 1 - year and 2 - year IV quantiles of the current and next months are shown [73].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints The report presents the price, price changes, implied volatility (IV), and IV quantiles of various ETFs and indices over a specific period, as well as related data such as skew indices, smile curves, and the relationship between price, IV, and trading volume. It aims to help investors understand the market trends and volatility characteristics of these financial products. 3. Summary by Related Catalogs 3.1 50ETF - **Price and IV Data**: From October 17 - 21, 2025, the 50ETF price changed from 3.110 to 3.144, with a 1.06% increase on October 21. The current month's IV decreased from 17.52% to 14.65%, and the next month's IV decreased from 16.91% to 14.79% [1]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 65.70% - 73.80%, and the next month's IV quantiles were 54.80% - 67.60% [1]. - **Skew Index**: The skew index on October 21 was 102.33 [2]. 3.2 Shanghai 300ETF - **Price and IV Data**: From October 17 - 21, 2025, the Shanghai 300ETF price changed from 4.624 to 4.710, with a 1.51% increase on October 21. The current month's IV decreased from 20.10% to 15.86%, and the next month's IV decreased from 18.81% to 16.36% [3]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 46.50% - 84.20%, and the next month's IV quantiles were 62.40% - 76.30% [3]. - **Skew Index**: The skew index on October 21 was 104.33 [7]. 3.3 Shenzhen 300ETF - **Price and IV Data**: From October 17 - 21, 2025, the Shenzhen 300ETF price changed from 4.768 to 4.858, with a 1.50% increase on October 21. The current month's IV decreased from 19.51% to 16.41%, and the next month's IV decreased from 18.99% to 16.80% [8]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 70.60% - 80.90%, and the next month's IV quantiles were 61.40% - 75.70% [8]. - **Skew Index**: The skew index on October 21 was 101.86 [15]. 3.4 Shanghai CSI 500ETF - **Price and IV Data**: From October 17 - 21, 2025, the Shanghai CSI 500ETF price changed from 7.114 to 7.280, with a 2.33% increase on October 21. The current month's IV decreased from 24.66% to 16.40%, and the next month's IV decreased from 23.23% to 20.98% [18]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 75.90% - 81.30%, and the next month's IV quantiles were 59.90% - 72.70% [18]. - **Skew Index**: The skew index on October 21 was 104.26 [21]. 3.5 Shenzhen CSI 500ETF - **Price and IV Data**: From October 17 - 21, 2025, the Shenzhen CSI 500ETF price changed from 2.844 to 2.906, with a 1.61% increase on October 21. The current month's IV decreased from 26.35% to 18.52%, and the next month's IV decreased from 23.71% to 21.13% [27]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 82.80% - 85.80%, and the next month's IV quantiles were 62.00% - 75.00% [27]. - **Skew Index**: The skew index on October 21 was 109.85 [32]. 3.6 ChiNext ETF - **Price and IV Data**: From October 17 - 21, 2025, the ChiNext ETF price changed from 2.915 to 3.062, with a 3.06% increase on October 21. The current month's IV decreased from 35.56% to 29.25%, and the next month's IV decreased from 33.60% to 29.32% [33]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 70.00% - 86.70%, and the next month's IV quantiles were 59.90% - 82.80% [33]. - **Skew Index**: The skew index on October 21 was 99.06 [38]. 3.7 Shenzhen 100ETF - **Price and IV Data**: From October 17 - 21, 2025, the Shenzhen 100ETF price changed from 3.393 to 3.512, with a 2.54% increase on October 21. The current month's IV decreased from 26.27% to 20.89%, and the next month's IV decreased from 26.40% to 23.11% [43]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 79.50% - 85.80%, and the next month's IV quantiles were 75.10% - 85.20% [43]. - **Skew Index**: The skew index on October 21 was 98.08 [46]. 3.8 Science and Technology Innovation 50ETF - **Price and IV Data**: From October 17 - 21, 2025, the Science and Technology Innovation 50ETF price changed from 1.433 to 1.477, with a 2.78% increase on October 21. The current month's IV increased from 41.33% to 37.58%, and the next month's IV decreased from 40.03% to 34.10% [52]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 73.40% - 85.20%, and the next month's IV quantiles were 59.90% - 80.50% [52]. - **Skew Index**: The skew index on October 21 was 92.62 [54]. 3.9 STAR 50ETF - **Price and IV Data**: From October 17 - 21, 2025, the STAR 50ETF price changed from 1.388 to 1.430, with a 2.66% increase on October 21. The current month's IV decreased from 42.72% to 32.04%, and the next month's IV decreased from 40.51% to 33.88% [58]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 57.10% - 87.90%, and the next month's IV quantiles were 53.00% - 86.80% [58]. - **Skew Index**: The skew index on October 21 was 92.43 [60]. 3.10 300 Index - **Price and IV Data**: From October 17 - 21, 2025, the 300 Index price changed from 4514.235 to 4607.872, with a 1.53% increase on October 21. The current month's IV decreased from 18.96% to 16.69%, and the next month's IV decreased from 20.44% to 18.28% [66]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 68.90% - 78.10%, and the next month's IV quantiles were 69.30% - 79.70% [66]. - **Skew Index**: The skew index on October 21 was 102.69 [68]. 3.11 1000 Index - **Price and IV Data**: From October 17 - 21, 2025, the 1000 Index price changed from 7185.478 to 7344.047, with a 1.45% increase on October 21. The current month's IV decreased from 25.42% to 22.48%, and the next month's IV decreased from 25.34% to 23.68% [69]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 61.60% - 68.90%, and the next month's IV quantiles were 55.50% - 66.60% [69]. - **Skew Index**: The skew index on October 21 was 111.40 [72]. 3.12 Shanghai Composite 50 Index - **Price and IV Data**: From October 17 - 21, 2025, the Shanghai Composite 50 Index price changed from 2967.775 to 3007.263, with a 1.09% increase on October 21. The current month's IV decreased from 16.99% to 15.08%, and the next month's IV increased from 48.66% to 51.17% [73]. - **IV Quantiles**: The current month's IV quantiles in the past 1 - 2 years were 57.10% - 66.20%, and the next month's IV quantiles were 53.00% - 80.50% [73]. - **Skew Index**: The skew index on October 21 was 102.34 [79].

1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View No clear core view is presented in the provided reports. The documents mainly offer detailed data on various financial products, including price movements, implied volatility (IV), and skew indices. 3. Summary by Related Catalogs 3.1 General Information - Multiple financial products are covered, including 50ETF, various 300ETF (Shanghai, Shenzhen), various CSI 500ETF (Shanghai, Shenzhen),创业板ETF, 深证100ETF, 科创50ETF, 科创板50ETF, 300指数, 1000指数, and 上证50指数 [1][3][8][18][27][33][44][53][59][69][73][77] 3.2 Price and Volatility Data 3.2.1 50ETF - From Oct 16 - 20, 2025, the price ranged from 3.11 - 3.159, with a maximum increase of 0.67% and a maximum decrease of 1.55%. The monthly IV ranged from 14.20% - 17.52%, and the next - month IV from 15.90% - 16.91% [1] 3.2.2 Shanghai 300ETF - From Oct 16 - 20, 2025, the price ranged from 4.624 - 4.721, with a maximum increase of 0.35% and a maximum decrease of 2.05%. The monthly IV ranged from 17.12% - 20.10%, and the next - month IV from 17.49% - 18.81% [3] 3.2.3 Shenzhen 300ETF - From Oct 16 - 20, 2025, the price ranged from 4.768 - 4.872, with a maximum increase of 0.38% and a maximum decrease of 2.13%. The monthly IV ranged from 15.73% - 19.51%, and the next - month IV from 17.75% - 18.99% [8] 3.2.4 Shanghai CSI 500ETF - From Oct 16 - 20, 2025, the price ranged from 7.114 - 7.336, with a maximum increase of 0.64% and a maximum decrease of 3.77%. The monthly IV ranged from 22.63% - 24.66%, and the next - month IV from 22.62% - 23.23% [18] 3.2.5 Shenzhen CSI 500ETF - From Oct 16 - 20, 2025, the price ranged from 2.844 - 2.927, with a maximum increase of 0.56% and a maximum decrease of 2.84%. The monthly IV ranged from 22.99% - 26.35%, and the next - month IV from 22.78% - 23.71% [27] 3.2.6 创业板ETF - From Oct 16 - 20, 2025, the price ranged from 2.915 - 3.014, with a maximum increase of 1.92% and a maximum decrease of 3.28%. The monthly IV ranged from 30.26% - 35.56%, and the next - month IV from 30.49% - 34.02% [33] 3.2.7 Shenzhen 100ETF - From Oct 16 - 20, 2025, the price ranged from 3.393 - 3.495, with a maximum increase of 0.94% and a maximum decrease of 2.92%. The monthly IV ranged from 24.39% - 26.27%, and the next - month IV from 24.78% - 26.40% [44] 3.2.8 科创50ETF - From Oct 16 - 20, 2025, the price ranged from 1.433 - 1.487, with a maximum increase of 0.28% and a maximum decrease of 3.63%. The monthly IV ranged from 31.85% - 41.33%, and the next - month IV from 34.74% - 39.93% [53] 3.2.9 科创板50ETF - From Oct 16 - 20, 2025, the price ranged from 1.388 - 1.441, with a maximum increase of 0.36% and a maximum decrease of 3.68%. The monthly IV ranged from 33.05% - 42.72%, and the next - month IV from 36.91% - 39.33% [59] 3.2.10 300指数 - From Oct 15 - 17, 2025, the price ranged from 4514.235 - 4618.422, with a maximum increase of 1.48% and a maximum decrease of 2.26%. The monthly IV ranged from 14.69% - 18.96%, and the next - month IV from 17.27% - 20.44% [69] 3.2.11 1000指数 - From Oct 15 - 17, 2025, the price ranged from 7185.478 - 7483.449, with a maximum increase of 1.50% and a maximum decrease of 2.92%. The monthly IV ranged from 19.06% - 25.42%, and the next - month IV from 21.47% - 25.34% [73] 3.2.12 Shanghai 50指数 - From Oct 15 - 17, 2025, the price ranged from 2967.775 - 3019.197, with a maximum increase of 1.36% and a maximum decrease of 1.70%. The monthly IV ranged from 14.57% - 16.99%, and the next - month IV from 48.66% - 62.00% [77] 3.3 IV Quantile Data - IV quantiles for different products over the past 1 - 2 years are provided, such as for 50ETF, 300ETF, etc [1][3][8] 3.4 Skew Index Data - Skew indices for different products and different time points (today, yesterday, etc.) are presented, including calculation methods [2][7][15] 3.5 Other Data - Price, IV, and volume trends over the past 1 - 3 years are shown for various products, as well as IV term structures and intraday IV trends for different months [1][3][8]

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report No clear core viewpoints are presented in the given text. The report mainly provides data on various financial products such as ETFs and indices, including their prices, price changes, implied volatility (IV), IV quantiles, skew indices, and related historical trends. 3. Summaries by Related Catalogs 3.1 General Information - The report covers multiple financial products including 50ETF, Shanghai 300ETF, Shenzhen 300ETF, Shanghai CSI 500ETF, Shenzhen CSI 500ETF, ChiNext ETF, Shenzhen 100ETF, Science and Technology Innovation 50ETF, Science and Technology Innovation Board 50ETF, 300 Index, 1000 Index, and Shanghai 50 Index [1][3][11][19][25][31][40][49][54][61][67][71] - The current month's contract expiration is 9 days away for most products, except for the 300 Index, 1000 Index, and Shanghai 50 Index, where it is 6 days away [1][3][11][19][25][31][40][49][54][61][67][71] 3.2 Price and Price Change Data - For each product, the report provides the price, price change percentage, current - month IV, and next - month IV for specific dates (2025/9/29, 2025/9/30, 2025/10/9) [1][3][11][19][25][31][40][49][54][61][67][71] 3.3 Implied Volatility (IV) Data - IV quantiles for the current month and next month over the past 1 and 2 years are provided for each product [1][3][11][19][25][31][40][49][54][61][67][71] - ATM IV term structures and intraday trends of different - month at - the - money IV are presented [1][3][11][19][25][31][40][49][54][61][67][71] 3.4 Skew Index Data - The skew index is calculated as the ratio of the implied volatility of a call option with a delta of 0.75 to that of a call option with a delta of 0.25. The skew index values for the current day, yesterday, two days ago, three days ago, and four days ago are provided for each product [2][7][18][22][30][37][43][51][56][66][70][76] 3.5 Other Data - Smile curves of the main - month options for each product are presented [2][5][18][21][30][36][42][50][55][66][70][75] - Price, IV, and volume trends over the past 1 and 3 years are provided for each product [1][3][11][19][25][31][40][49][54][61][67][71] - Price, IV, and open - interest PCR trends are also provided for each product [2][8][18][23][30][38][45][53][58][66][70][77]

1. Report Industry Investment Rating - No information provided in the given documents 2. Report's Core View - No clear core view is presented in the provided documents. The reports mainly focus on presenting data related to various ETFs and indices, including price, volatility, and skew index over a certain period. 3. Summary by Related Catalogs 3.1 General Data (13 - day data) - For 50ETF, from Sep 23 - 25, 2025, the price increased from 3.054 to 3.087, with the highest daily increase of 0.59% on Sep 24. The monthly IV decreased from 21.49% to 17.69% [1]. - For Shanghai 300ETF, from Sep 23 - 25, 2025, the price rose from 4.622 to 4.695, with the highest daily increase of 0.89% on Sep 24. The monthly IV fluctuated between 16.03% and 19.72% [3]. - For Shenzhen 300ETF, from Sep 23 - 25, 2025, the price increased from 4.762 to 4.844, with the highest daily increase of 1.01% on Sep 24. The monthly IV changed from 17.19% to 19.19% [7]. - For Shanghai CSI 500ETF, from Sep 23 - 25, 2025, the price went up from 7.277 to 7.441, with the highest daily increase of 2.25% on Sep 25. The monthly IV increased from 16.69% to 26.03% [14]. - For Shenzhen CSI 500ETF, from Sep 23 - 25, 2025, the price first rose from 2.906 to 2.972 and then slightly dropped to 2.970. The monthly IV increased from 16.57% to 26.58% [22]. - For ChiNext ETF, from Sep 23 - 25, 2025, the price increased from 3.093 to 3.211, with the highest daily increase of 2.17% on Sep 24. The monthly IV changed from 30.72% to 41.46% [26]. - For Shenzhen 100ETF, from Sep 23 - 25, 2025, the price rose from 3.494 to 3.595, with the highest daily increase of 1.75% on Sep 24. The monthly IV fluctuated between 25.27% and 29.03% [33]. - For Science and Technology Innovation 50ETF, from Sep 23 - 25, 2025, the price increased from 1.475 to 1.548, with the highest daily increase of 3.73% on Sep 24. The monthly IV increased from 41.63% to 50.25% [41]. - For STAR 50ETF, from Sep 23 - 25, 2025, the price rose from 1.442 to 1.513, with the highest daily increase of 3.68% on Sep 24. The monthly IV increased from 41.58% to 49.81% [48]. - For 300 Index, from Sep 23 - 25, 2025, the price increased from 4519.778 to 4593.488, with the highest daily increase of 1.02% on Sep 24. The monthly IV decreased from 20.20% to 18.16% [55]. - For 1000 Index, from Sep 23 - 25, 2025, the price first rose from 7408.069 to 7534.222 and then dropped to 7506.512. The monthly IV fluctuated between 27.42% and 28.25% [63]. - For Shanghai - Shenzhen 50 Index, from Sep 23 - 25, 2025, the price increased from 2919.515 to 2952.735, with the highest daily increase of 0.68% on Sep 24. The monthly IV decreased from 19.89% to 19.08% [68]. 3.2 IV Quantile Data - For 50ETF, the monthly IV quantile in the past 1 - year was between 63.60% and 84.80%, and in the past 2 - year was between 74.80% and 91.00% [1]. - For Shanghai 300ETF, the monthly IV quantile in the past 1 - year was between 47.30% and 77.90%, and in the past 2 - year was between 60.30% and 83.20% [3]. - For Shenzhen 300ETF, the monthly IV quantile in the past 1 - year was between 55.50% and 72.20%, and in the past 2 - year was between 70.90% and 84.00% [7]. - For Shanghai CSI 500ETF, the monthly IV quantile in the past 1 - year was between 21.60% and 80.80%, and in the past 2 - year was between 26.10% and 86.90% [14]. - For Shenzhen CSI 500ETF, the monthly IV quantile in the past 1 - year was between 22.40% and 80.00%, and in the past 2 - year was between 26.70% and 86.50% [22]. - For ChiNext ETF, the monthly IV quantile in the past 1 - year was between 61.60% and 91.70%, and in the past 2 - year was between 78.90% and 94.80% [26]. - For Shenzhen 100ETF, the monthly IV quantile in the past 1 - year was between 70.60% and 86.50%, and in the past 2 - year was between 83.20% and 92.40% [33]. - For Science and Technology Innovation 50ETF, the monthly IV quantile in the past 1 - year was between 73.80% and 87.30%, and in the past 2 - year was between 88.90% and 94.40% [41]. - For STAR 50ETF, the monthly IV quantile in the past 1 - year was between 78.30% and 88.70%, and in the past 2 - year was between 86.90% and 94.60% [48]. - For 300 Index, the monthly IV quantile in the past 1 - year was between 53.40% and 80.50%, and in the past 2 - year was between 62.40% and 83.00% [55]. - For 1000 Index, the monthly IV quantile in the past 1 - year was between 56.70% and 79.90%, and in the past 2 - year was between 70.60% and 79.10% [63]. - For Shanghai - Shenzhen 50 Index, the monthly IV quantile in the past 1 - year was between 65.30% and 90.20%, and in the past 2 - year was between 59.10% and 95.00% [68]. 3.3 Skew Index Data - For 50ETF, the skew index on Sep 25, 2025, was 82.18, decreasing from 83.73 the previous day [2]. - For Shanghai 300ETF, the skew index on Sep 25, 2025, was 98.87, increasing from 94.55 the previous day [5]. - For Shenzhen 300ETF, the skew index on Sep 25, 2025, was 96.50, increasing from 95.51 the previous day [12]. - For Shanghai CSI 500ETF, the skew index on Sep 25, 2025, was 100.56, decreasing from 103.35 the previous day [17]. - For Shenzhen CSI 500ETF, the skew index on Sep 25, 2025, was 98.83, decreasing from 99.08 the previous day [25]. - For ChiNext ETF, the skew index on Sep 25, 2025, was 99.99, increasing from 95.76 the previous day [30]. - For Shenzhen 100ETF, the skew index on Sep 25, 2025, was 98.60, increasing from 96.56 the previous day [37]. - For Science and Technology Innovation 50ETF, the skew index on Sep 25, 2025, was 98.68, increasing from 88.91 the previous day [44]. - For STAR 50ETF, the skew index on Sep 25, 2025, was 94.06, increasing from 91.22 the previous day [51]. - For 300 Index, no skew index data is provided. - For 1000 Index, no skew index data is provided. - For Shanghai - Shenzhen 50 Index, no skew index data is provided.

1. Report Industry Investment Rating - Not provided in the content 2. Report Core Viewpoints - Not provided in the content 3. Summary by Related Catalogs 3.1 50ETF - From September 19 - 23, 2025, the price changed from 3.045 to 3.054, with a 0.30% increase on the 22nd and 0.00% on the 23rd; the monthly IV increased from 18.07% to 21.49%, and the next - month IV decreased from 18.96% to 18.43% [1] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 84.80% and the 2 - year reaching up to 91.00% [1] - The skew index of the main contract month on September 23 was 85.59 [2] 3.2 Shanghai 300ETF - From September 19 - 23, 2025, the price changed from 4.604 to 4.622, with a 0.33% increase on the 22nd and 0.06% on the 23rd; the monthly IV decreased from 18.21% to 16.03%, and the next - month IV decreased slightly from 19.78% to 19.51% [3] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 63.70% and the 2 - year reaching up to 75.20% [3] - The skew index of the main contract month on September 23 was 96.85 [5] 3.3 Shenzhen 300ETF - From September 19 - 23, 2025, the price changed from 4.747 to 4.762, with a 0.36% increase on the 22nd and - 0.04% on the 23rd; the monthly IV decreased from 19.54% to 17.19%, and the next - month IV decreased from 20.66% to 20.39% [9] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 68.50% and the 2 - year reaching up to 81.70% [9] - The skew index of the main contract month on September 23 was 94.82 [11] 3.4 Shanghai CSI 500ETF - From September 19 - 23, 2025, the price changed from 7.261 to 7.277, with a - 1.30% decrease on the 19th, 0.36% increase on the 22nd, and 0.22% on the 23rd; the monthly IV decreased from 24.13% to 16.69%, and the next - month IV increased from 25.49% to 25.99% [13] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 70.60% and the 2 - year reaching up to 80.10% [13] - The skew index of the main contract month on September 23 was 106.94 [16] 3.5 Shenzhen CSI 500ETF - From September 19 - 23, 2025, the price changed from 2.903 to 2.906, with a - 0.34% decrease on the 19th, 0.69% increase on the 22nd, and - 0.58% on the 23rd; the monthly IV decreased from 23.80% to 16.57%, and the next - month IV decreased from 26.02% to 25.31% [21] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 65.70% and the 2 - year reaching up to 77.00% [21] - The skew index of the main contract month on September 23 was 102.72 [24] 3.6 ChiNext ETF - From September 19 - 23, 2025, the price changed from 3.062 to 3.093, with a - 0.16% decrease on the 19th, 0.65% increase on the 22nd, and 0.36% on the 23rd; the monthly IV decreased from 37.86% to 30.72%, and the next - month IV decreased from 42.49% to 41.28% [25] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 91.50% and the 2 - year reaching up to 95.70% [25] - The skew index of the main contract month on September 23 was 97.74 [29] 3.7 Shenzhen 100ETF - From September 19 - 23, 2025, the price changed from 3.475 to 3.494, with a 0.38% increase on the 19th, 0.55% on the 22nd, and 0.00% on the 23rd; the monthly IV increased from 24.53% to 25.27%, and the next - month IV increased from 27.03% to 28.34% [35] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 70.60% and the 2 - year reaching up to 83.20% [35] - The skew index of the main contract month on September 23 was 96.93 [38] 3.8 Science and Technology Innovation 50ETF - From September 19 - 23, 2025, the price changed from 1.431 to 1.475, with a - 1.31% decrease on the 19th, 3.35% increase on the 22nd, and - 0.27% on the 23rd; the monthly IV decreased from 44.82% to 41.63%, and the next - month IV decreased from 49.19% to 48.22% [42] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 90.30% and the 2 - year reaching up to 94.20% [42] - The skew index of the main contract month on September 23 was 94.59 [45] 3.9 STAR 50ETF - From September 19 - 23, 2025, the price changed from 1.398 to 1.442, with a - 1.20% decrease on the 19th, 3.51% increase on the 22nd, and - 0.35% on the 23rd; the monthly IV decreased from 46.57% to 41.58%, and the next - month IV decreased from 50.41% to 47.52% [49] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 87.30% and the 2 - year reaching up to 94.20% [49] - The skew index of the main contract month on September 23 was 93.04 [52] 3.10 300 Index - From September 19 - 23, 2025, the price changed from 4501.920 to 4519.778, with a 0.08% increase on the 19th, 0.46% on the 22nd, and - 0.06% on the 23rd; the monthly IV decreased from 21.19% to 20.20%, and the next - month IV increased from 20.05% to 20.54% [56] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 83.00% and the 2 - year reaching up to 86.90% [56] - The skew index of the main contract month on September 23 was 95.20 [63] 3.11 1000 Index - From September 19 - 23, 2025, the price changed from 7438.189 to 7408.069, with a - 0.51% decrease on the 19th, 0.69% increase on the 22nd, and - 1.09% on the 23rd; the monthly IV decreased slightly from 27.67% to 27.93%, and the next - month IV increased from 25.77% to 26.92% [64] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 74.20% and the 2 - year reaching up to 80.50% [64] - The skew index of the main contract month on September 23 was 106.39 [67] 3.12 Shanghai 50 Index - From September 19 - 23, 2025, the price changed from 2909.744 to 2919.515, with a - 0.11% decrease on the 19th, 0.43% increase on the 22nd, and - 0.09% on the 23rd; the monthly IV decreased from 20.74% to 19.89%, and the next - month IV increased from 57.44% to 58.30% [68] - The monthly IV quantiles in the past 1 - year and 2 - year periods were relatively high, with the 1 - year monthly IV quantile reaching up to 83.60% and the 2 - year reaching up to 92.40% [68] - The skew index of the main contract month on September 23 was 92.99 [74]

1. Report Industry Investment Rating - No information provided regarding the report industry investment rating 2. Report's Core View - No clear core view is presented in the provided content 3. Summary by Related Catalogs 3.1 50ETF - From September 18 - 22, 2025, the price fluctuated, with a -1.30% drop on the 18th, -0.10% on the 19th, and a 0.30% increase on the 22nd; the current month IV ranged from 17.80% - 19.45%, and the next month IV from 18.87% - 20.13% [1] - The current month IV quantiles in the past 1 - 2 years were 65.30% - 76.70%, and the next month IV quantiles were 66.20% - 86.00% [1] 3.2 Shanghai 300ETF - From September 18 - 22, 2025, the price rose gradually, with a -1.27% drop on the 18th, a 0.22% increase on the 19th, and a 0.33% increase on the 22nd; the current month IV ranged from 17.76% - 18.21%, and the next month IV from 19.55% - 20.47% [3] - The current month IV quantiles in the past 1 - 2 years were 62.40% - 74.80%, and the next month IV quantiles were 66.60% - 84.50% [3] 3.3 Shenzhen 300ETF - From September 18 - 22, 2025, the price increased steadily, with a -1.42% drop on the 18th, a 0.32% increase on the 19th, and a 0.36% increase on the 22nd; the current month IV ranged from 18.46% - 19.73%, and the next month IV from 20.50% - 21.64% [9] - The current month IV quantiles in the past 1 - 2 years were 63.20% - 82.60%, and the next month IV quantiles were 70.30% - 86.80% [9] 3.4 Shanghai CSI 500ETF - From September 18 - 22, 2025, the price had minor fluctuations, with a 0.14% increase on the 18th, a -1.30% drop on the 19th, and a 0.36% increase on the 22nd; the current month IV ranged from 22.20% - 24.13%, and the next month IV from 25.49% - 25.82% [13] - The current month IV quantiles in the past 1 - 2 years were 59.10% - 80.10%, and the next month IV quantiles were 76.70% - 87.50% [13] 3.5 Shenzhen CSI 500ETF - From September 18 - 22, 2025, the price increased slightly, with a -1.05% drop on the 18th, a -0.34% drop on the 19th, and a 0.69% increase on the 22nd; the current month IV ranged from 20.78% - 24.98%, and the next month IV from 25.90% - 48.50% [19] - The current month IV quantiles in the past 1 - 2 years were 65.70% - 86.20%, and the next month IV quantiles were 76.70% - 87.30% [19] 3.6 ChiNext ETF - From September 18 - 22, 2025, the price increased slightly, with a -1.67% drop on the 18th, a -0.16% drop on the 19th, and a 0.65% increase on the 22nd; the current month IV ranged from 34.48% - 38.92%, and the next month IV from 42.19% - 43.81% [23] - The current month IV quantiles in the past 1 - 2 years were 74.20% - 92.80%, and the next month IV quantiles were 90.70% - 96.40% [23] 3.7 Shenzhen 100ETF - From September 18 - 22, 2025, the price increased steadily, with a -1.00% drop on the 18th, a 0.38% increase on the 19th, and a 0.55% increase on the 22nd; the current month IV ranged from 23.77% - 25.70%, and the next month IV from 27.03% - 27.77% [32] - The current month IV quantiles in the past 1 - 2 years were 64.40% - 85.00%, and the next month IV quantiles were 77.60% - 90.60% [32] 3.8 Science and Technology Innovation 50ETF - From September 18 - 22, 2025, the price increased significantly, with a 0.69% increase on the 18th, a -1.31% drop on the 19th, and a 3.35% increase on the 22nd; the current month IV ranged from 45.63% - 50.03%, and the next month IV from 50.07% - 54.41% [39] - The current month IV quantiles in the past 1 - 2 years were 81.60% - 94.20%, and the next month IV quantiles were 87.70% - 96.60% [39] 3.9 STAR 50ETF - From September 18 - 22, 2025, the price increased significantly, with a 0.64% increase on the 18th, a -1.20% drop on the 19th, and a 3.51% increase on the 22nd; the current month IV ranged from 38.30% - 49.22%, and the next month IV from 48.55% - 52.77% [46] - The current month IV quantiles in the past 1 - 2 years were 83.60% - 95.50%, and the next month IV quantiles were 70.60% - 93.60% [46] 3.10 CSI 300 Index - From September 18 - 22, 2025, the price increased steadily, with a -1.16% drop on the 18th, a 0.08% increase on the 19th, and a 0.46% increase on the 22nd; the current month IV ranged from 17.81% - 21.19%, and the next month IV from 20.05% - 21.24% [52] - The current month IV quantiles in the past 1 - 2 years were 61.60% - 86.90%, and the next month IV quantiles were 64.40% - 85.00% [52] 3.11 CSI 1000 Index - From September 18 - 22, 2025, the price increased slightly, with a -1.04% drop on the 18th, a -0.51% drop on the 19th, and a 0.69% increase on the 22nd; the current month IV ranged from 19.76% - 28.60%, and the next month IV from 25.77% - 27.61% [60] - The current month IV quantiles in the past 1 - 2 years were 26.50% - 80.50%, and the next month IV quantiles were 56.70% - 85.00% [60] 3.12 SSE 50 Index - From September 18 - 22, 2025, the price increased slightly, with a -1.35% drop on the 18th, a -0.11% drop on the 19th, and a 0.43% increase on the 22nd; the current month IV ranged from 20.16% - 20.74%, and the next month IV from 57.39% - 80.72% [65] - The current month IV quantiles in the past 1 - 2 years were 74.20% - 99.50%, and the next month IV quantiles were 74.60% - 99.10% [65]

Report Information - Report Date: June 26, 2025 [1] - Analyst: Fan Lijun from Guotou Futures Core Data Summary 50ETF - **Price and Volatility**: On June 24 - 26, 2025, the price ranged from 2.792 to 2.832. 5HV, 10HV, and 20HV showed fluctuations, with 5HV reaching 12.17% on June 25. The implied volatility (IV) also changed, with the monthly IV reaching 15.07% on June 25 [2]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 88%, and the minimum was 2% [7]. - **Skew Index**: The skew index of the main contract month was 91.48 on June 26 [9]. Shanghai 300ETF - **Price and Volatility**: From June 24 - 26, 2025, the price varied between 3.936 and 4.001. 5HV, 10HV, and 20HV had changes, with 5HV reaching 14.81% on June 25. The monthly IV was 14.85% on June 25 [11]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 110%, and the minimum was 1% [18]. - **Skew Index**: The skew index of the main contract month was 91.48 on June 26 [17]. Shenzhen 300ETF - **Price and Volatility**: During June 24 - 26, 2025, the price was between 4.059 and 4.126. 5HV, 10HV, and 20HV fluctuated, with 5HV reaching 14.83% on June 25. The monthly IV was 15.70% on June 25 [21]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 111%, and the minimum was 1% [29]. - **Skew Index**: The skew index of the main contract month was 90.04 on June 26 [27]. Shanghai CSI 500ETF - **Price and Volatility**: From June 23 - 25, 2025, the price ranged from 5.712 to 5.913. 5HV, 10HV, and 20HV changed, with 5HV reaching 20.36% on June 25. The monthly IV was 16.74% on June 25 [31]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 102%, and the minimum was 5% [38]. - **Skew Index**: The skew index of the main contract month was 90.75 on June 25 [37]. Shenzhen CSI 500ETF - **Price and Volatility**: On June 24 - 26, 2025, the price was between 2.320 and 2.361. 5HV, 10HV, and 20HV fluctuated, with 5HV reaching 19.69% on June 25. The monthly IV was 18.99% on June 25 [40]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 434%, and the minimum was 5% [49]. - **Skew Index**: The skew index of the main contract month was 91.14 on June 26 [47]. GEM ETF - **Price and Volatility**: From June 24 - 26, 2025, the price varied from 2.044 to 2.109. 5HV, 10HV, and 20HV changed, with 5HV reaching 30.91% on June 25. The monthly IV was 24.91% on June 25 [52]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 253%, and the minimum was 4% [59]. - **Skew Index**: The skew index of the main contract month was 86.99 on June 26 [58]. Shenzhen 100ETF - **Price and Volatility**: During June 24 - 26, 2025, the price was between 2.680 and 2.732. 5HV, 10HV, and 20HV fluctuated, with 5HV reaching 18.89% on June 25. The monthly IV was 18.83% on June 25 [63]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 134%, and the minimum was 4% [70]. - **Skew Index**: The skew index of the main contract month was 98.36 on June 26 [69]. Science and Technology Innovation 50ETF - **Price and Volatility**: From June 24 - 26, 2025, the price ranged from 1.029 to 1.048. 5HV, 10HV, and 20HV changed, with 5HV reaching 18.72% on June 26. The monthly IV was 20.49% on June 26 [72]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 222%, and the minimum was 5% [80]. - **Skew Index**: The skew index of the main contract month was 80.28 on June 26 [78]. Science and Technology Innovation 50ETF E Fund - **Price and Volatility**: On June 24 - 26, 2025, the price was between 1.003 and 1.022. 5HV, 10HV, and 20HV fluctuated, with 5HV reaching 18.87% on June 26. The monthly IV was 20.97% on June 26 [86]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 219%, and the minimum was 4% [90]. - **Skew Index**: The skew index of the main contract month was 79.72 on June 26 [88]. 300 Index - **Price and Volatility**: From June 24 - 26, 2025, the price ranged from 3904.034 to 3960.066. 5HV, 10HV, and 20HV changed, with 5HV reaching 14.19% on June 25. The monthly IV was 17.09% on June 25 [93]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 99%, and the minimum was 1% [94]. - **Skew Index**: The skew index of the main contract month was 85.71 on June 26 [94]. 1000 Index - **Price and Volatility**: On June 24 - 26, 2025, the price was between 6194.666 and 6276.163. 5HV, 10HV, and 20HV fluctuated, with 5HV reaching 23.05% on June 25. The monthly IV was 19.27% on June 25 [95]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 128%, and the minimum was 8% [104]. - **Skew Index**: The skew index of the main contract month was 91.75 on June 26 [103]. SSE 50 Index - **Price and Volatility**: From June 24 - 26, 2025, the price ranged from 2715.922 to 2747.728. 5HV, 10HV, and 20HV changed, with 5HV reaching 11.06% on June 25. The monthly IV was 14.56% on June 25 [105]. - **Historical Volatility Cone**: The maximum historical volatility of 5 - day HV in the past 12 months was 80%, and the minimum was 2% [110]. - **Skew Index**: The skew index of the main contract month was 85.47 on June 26 [109].

Report Summary 1. Report Industry Investment Rating No information about the industry investment rating is provided in the given content. 2. Report's Core View No clear core view is presented in the given content. The document mainly provides a large amount of data on various financial products such as ETFs and indices, including historical volatility, implied volatility, and related price trends. 3. Summary by Related Catalogs 3.1 50ETF - On June 16, 2025, the underlying price was 2.753, with 5HV at 8.25%, 10HV at 5.68%, 20HV at 5.92%, and the current month's IV at 11.21%. The IV percentile for the current month in the past 1 year was 4.80%, and in the past 2 years was 2.40%. The next month's IV was 12.16%, with an IV percentile of 5.70% in the past 1 year and 11.30% in the past 2 years [1][2]. - The current month's contract has 7 days until expiration [1]. 3.2 Shanghai 300ETF - On June 16, 2025, the underlying price was 3.990, with 5HV at 9.45%, 10HV at 6.81%, 20HV at 6.89%, and the current month's IV at 0.32%. The IV percentile for the current month in the past 1 year was 0.40%, and in the past 2 years was 0.20%. The next month's IV was 0.36%, with an IV percentile of 0.40% in the past 1 year and 0.20% in the past 2 years [9]. - The current month's contract has 7 days until expiration [9]. 3.3 Shenzhen 300ETF - On June 16, 2025, the underlying price was 4.026, with 5HV at 9.82%, 10HV at 7.08%, 20HV at 7.04%, and the current month's IV at 13.11%. The IV percentile for the current month in the past 1 year was 20.40%, and in the past 2 years was 16.70%. The next month's IV was 12.75%, with an IV percentile of 12.20% in the past 1 year and 10.10% in the past 2 years [15]. - The current month's contract has 7 days until expiration [15]. 3.4 Shanghai CSI 500ETF - On June 16, 2025, the underlying price was 5.797, with 5HV at 10.82%, 10HV at 9.26%, 20HV at 9.77%, and the current month's IV at 0.00%. The IV percentile for the current month in the past 1 year was 0.40%, and in the past 2 years was 0.20%. The next month's IV was 0.00%, with an IV percentile of 0.40% in the past 1 year and 0.20% in the past 2 years [26]. - The current month's contract has 7 days until expiration [26]. 3.5 Shenzhen CSI 500ETF - On June 16, 2025, the underlying price was 2.319, with 5HV at 12.27%, 10HV at 10.15%, 20HV at 10.73%, and the current month's IV at 14.23%. The IV percentile for the current month in the past 1 year was 0.40%, and in the past 2 years was 14.10%. The next month's IV was 15.64%, with an IV percentile of 1.20% in the past 1 year and 25.80% in the past 2 years [37]. - The current month's contract has 7 days until expiration [37]. 3.6 ChiNext ETF - On June 16, 2025, the underlying price was 2.037, with 5HV at 16.59%, 10HV at 13.76%, 20HV at 14.11%, and the current month's IV at 17.99%. The IV percentile for the current month in the past 1 year was 2.40%, and in the past 2 years was 9.80%. The next month's IV was 19.57%, with an IV percentile of 8.00% in the past 1 year and 23.90% in the past 2 years [49]. - The current month's contract has 7 days until expiration [49]. 3.7 Shenzhen 100ETF - On June 16, 2025, the underlying price was 3.725, with 5HV at 11.72%, 10HV at 9.51%, 20HV at 11.55%. The data for the current month's IV and related IV percentiles showed errors (VALUE!) [59]. - The current month's contract has -1 days until expiration [59]. 3.8 Science and Technology Innovation 50ETF - On June 16, 2025, the underlying price was 1.021, with 5HV at 12.36%, 10HV at 13.16%, 20HV at 12.46%, and the current month's IV at 18.11%. The IV percentile for the current month in the past 1 year was 0.40%, and in the past 2 years was 4.90%. The next month's IV was 20.29%, with an IV percentile of 2.10% in the past 1 year and 17.30% in the past 2 years [68]. - The current month's contract has 7 days until expiration [68]. 3.9 Science and Technology Innovation 50ETF E Fund - On June 16, 2025, the underlying price was 0.995, with 5HV at 11.77%, 10HV at 13.04%, 20HV at 12.35%, and the current month's IV at 17.64%. The IV percentile for the current month in the past 1 year was 9.30%, and in the past 2 years was 5.70%. The next month's IV was 19.64%, with an IV percentile of 8.00% in the past 1 year and 17.30% in the past 2 years [78]. - The current month's contract has 7 days until expiration [78]. 3.10 300 Index - On June 16, 2025, the underlying price was 3873.795, with 5HV at 9.23%, 10HV at 6.91%, 20HV at 7.42%, and the current month's IV at 11.17%. The IV percentile for the current month in the past 1 year was 1.60%, and in the past 2 years was 0.80%. The next month's IV was 13.05%, with an IV percentile of 11.40% in the past 1 year and 5.90% in the past 2 years [88]. - The current month's contract has 4 days until expiration [88]. 3.11 1000 Index - On June 16, 2025, the underlying price was 6147.460, with 5HV at 13.88%, 10HV at 12.77%, 20HV at 13.82%, and the current month's IV at 15.88%. The IV percentile for the current month in the past 1 year was 0.40%, and in the past 2 years was 19.60%. The next month's IV was 17.74%, with an IV percentile of 0.40% in the past 1 year and 28.40% in the past 2 years [90]. - The current month's contract has 4 days until expiration [90]. 3.12 Shanghai Composite 50 Index - On June 16, 2025, the underlying price was 2685.009, with 5HV at 7.42%, 10HV at 5.31%, 20HV at 6.19%, and the current month's IV at 11.56%. The IV percentile for the current month in the past 1 year was 3.60%, and in the past 2 years was 1.80%. The next month's IV was 43.63%, with an IV percentile of 51.80% in the past 1 year and 75.80% in the past 2 years [100]. - The current month's contract has 4 days until expiration [100].

Report Summary 1. Report Industry Investment Rating No industry investment rating information is provided in the content. 2. Core Viewpoints There is no explicit core viewpoint presented in the given content. The report mainly offers a large amount of data on various ETFs and indexes, including historical volatility, implied volatility, skew index, and price trends. 3. Summary by Related Catalogs 3.1 50ETF - The current month's contract has 5 days until expiration [5] - Data on price, historical volatility, implied volatility, and their respective quantiles from May 19 - 21, 2025 are provided [2] - Information on historical volatility cones, skew index, and option smile curves is also included [7][9] 3.2 Shanghai 300ETF - The current month's contract has 5 days until expiration [10] - Similar data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are presented [10] - Historical volatility cones, skew index, and option smile curves are also covered [16][15] 3.3 Shenzhen 300ETF - The current month's contract has 5 days until expiration [20] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are shown [20] - Information on historical volatility cones, skew index, and option smile curves is provided [28][27] 3.4 Shanghai CSI 500ETF - The current month's contract has 5 days until expiration [31] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are given [31] - Historical volatility cones, skew index, and option smile curves are also included [38][37] 3.5 Shenzhen CSI 500ETF - The current month's contract has 5 days until expiration [42] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are presented [42] - Information on historical volatility cones, skew index, and option smile curves is provided [51][49] 3.6 GEM ETF - The current month's contract has 5 days until expiration [57] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are shown [57] - Historical volatility cones, skew index, and option smile curves are also covered [62][64] 3.7 Shenzhen 100ETF - The current month's contract has 5 days until expiration [65] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are given [65] - Historical volatility cones, skew index, and option smile curves are also included [72][71] 3.8 Science and Technology Innovation 50ETF - The current month's contract has 5 days until expiration [74] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are presented [74] - Historical volatility cones, skew index, and option smile curves are also covered [81][80] 3.9 Science and Technology Innovation 50ETF E Fund - The current month's contract has 5 days until expiration [89] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are shown [89] - Historical volatility cones, skew index, and option smile curves are also included [92][91] 3.10 300 Index - The current month's contract has 21 days until expiration [96] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are given [96] - Historical volatility cones, skew index, and option smile curves are also included [97] 3.11 1000 Index - The current month's contract has 21 days until expiration [98] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are presented [98] - Historical volatility cones, skew index, and option smile curves are also covered [102][106] 3.12 Shanghai 50 Index - The current month's contract has 21 days until expiration [107] - Data on price, historical volatility, implied volatility, and their quantiles from May 19 - 21, 2025 are shown [107] - Historical volatility cones, skew index, and option smile curves are also included [113][112]