Report Industry Investment Rating - No information provided Core Viewpoints - No information provided Summary by Related Catalogs Option Trading Volume - On August 6, 2025, the trading volume of SSE 50 ETF options was 702,200 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 680,200 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,310,600 contracts; the trading volume of Shenzhen 100 ETF options was 102,100 contracts; the trading volume of ChiNext ETF options was 1,011,900 contracts; the trading volume of SSE 50 index options was 28,400 contracts; the trading volume of CSI 300 index options was 72,800 contracts; the total trading volume of CSI 1000 options was 234,800 contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on the same day [20] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.66, with a month - on - month change of - 0.11; the open interest PCR was reported at 0.94, with a month - on - month change of - 0.01. Similar data for other options are also provided, including CSI 300 ETF options, CSI 500 ETF options, etc. [2] - The table presents the turnover PCR, its month - on - month change, open interest PCR, and its month - on - month change for various index ETF options [30] Option VIX - The VIX of SSE 50 ETF options was reported at 15.71%, with a month - on - month change of + 0.00%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 15.84%, with a month - on - month change of + 0.10%. Similar data for other options are also given [3] - The table shows the VIX and its month - on - month change value for various index ETF options [46]

Report Summary Core View The stock index options showed an upward movement with a decreasing volatility, and the implied volatility premium narrowed [1]. Market Data Summary Underlying Market Statistics - **Indices**: The Shanghai Composite 50 Index closed at 2790.73, up 21.34 points, with a trading volume of 41.26 billion hands, a decrease of 0.70 billion hands. The CSI 300 Index closed at 4103.45, up 32.75 points, with a trading volume of 178.85 billion hands, an increase of 16.58 billion hands. The CSI 1000 Index closed at 6787.48, up 47.79 points, with a trading volume of 223.72 billion hands, an increase of 10.23 billion hands [2]. - **ETFs**: The Shanghai Composite 50 ETF closed at 2.912, up 0.022, with a trading volume of 7.24 billion hands, an increase of 2.44 billion hands. The Huatai-PB CSI 300 ETF closed at 4.183, up 0.031, with a trading volume of 5.48 billion hands, an increase of 1.13 billion hands [2]. Option Market Statistics - **Trading Volume and Open Interest**: The trading volume of Shanghai Composite 50 Index Options was 30,577, an increase of 280, and the open interest was 72,824, a decrease of 1,212. The trading volume of CSI 300 Index Options was 78,143, an increase of 5,831, and the open interest was 205,892, an increase of 668 [2]. - **Volatility and PCR**: The ATM-IV of Shanghai Composite 50 Index Options was 11.59%, a decrease of 0.57%, and the VL-PCR was 48.61%, and the OI-PCR was 57.04%. The ATM-IV of CSI 300 Index Options was 11.16%, a decrease of 1.41%, and the VL-PCR was 52.69%, and the OI-PCR was 70.72% [2][5]. Individual Option Analysis The report provides detailed analysis and charts for various options, including Shanghai Composite 50 Index Options, CSI 300 Index Options, CSI 1000 Index Options, and multiple ETF options, covering aspects such as PCR, skew, volatility cone, and volatility term structure [8][12][15].

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The report presents a daily overview of the stock index options market, covering option trading volume, PCR, and VIX data for various stock index options on August 4, 2025. 3. Summary by Relevant Catalogs Option Trading Volume - On August 4, 2025, the trading volumes of different stock index options were as follows: Shanghai Stock Exchange 50 ETF option was 782,100 contracts; CSI 300 ETF option (Shanghai market) was 814,500 contracts; CSI 500 ETF option (Shanghai market) was 1,206,200 contracts; Shenzhen 100 ETF option was 114,700 contracts; ChiNext ETF option was 1,064,800 contracts; Shanghai Stock Exchange 50 stock index option was 30,000 contracts; CSI 300 stock index option was 72,300 contracts; and CSI 1000 option total trading volume was 217,100 contracts [1]. - The detailed breakdown of call and put trading volumes and total trading volumes for each option is presented in Table 1 [19]. Option PCR - The PCR data of different stock index options on August 4, 2025, and their环比 changes were reported. For example, the turnover PCR of Shanghai Stock Exchange 50 ETF option was 1.02, with a环比 change of -0.09; the position PCR was 0.90, with a环比 change of +0.03 [2]. - The detailed PCR data for each option are presented in Table 2 [35]. Option VIX - The VIX data of different stock index options on August 4, 2025, and their环比 changes were provided. For instance, the VIX of Shanghai Stock Exchange 50 ETF option was 15.91%, with a环比 change of +0.04% [3]. - The detailed VIX data for each option are presented in Table 3 [50].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View The report presents the trading data of various index options on July 31, 2025, including trading volume, PCR, and VIX, to reflect the market conditions of index options. 3. Summary by Directory I. Option Trading Volume - On July 31, 2025, the trading volume of Shanghai - 50 ETF options was 1.6482 million contracts; that of CSI 300 ETF options (Shanghai market) was 1.6265 million contracts; that of CSI 500 ETF options (Shanghai market) was 1.7874 million contracts; that of Shenzhen 100 ETF options was 0.0965 million contracts; that of ChiNext ETF options was 1.8137 million contracts; that of Shanghai - 50 index options was 0.0564 million contracts; that of CSI 300 index options was 0.1443 million contracts; and that of CSI 1000 options was 0.2799 million contracts [1][19] II. Option PCR - The turnover PCR of Shanghai - 50 ETF options was reported at 0.87, with a month - on - month change of +0.32; the position PCR was reported at 0.90, with a month - on - month change of - 0.15. For CSI 300 ETF options (Shanghai market), the turnover PCR was 1.03, with a month - on - month change of +0.40; the position PCR was 0.95, with a month - on - month change of - 0.15. Similar data for other options are also provided [2][33] III. Option VIX - The VIX of Shanghai - 50 ETF options was reported at 16.86%, with a month - on - month change of - 0.33%; the VIX of CSI 300 ETF options (Shanghai market) was 17.36%, with a month - on - month change of +0.26%. Similar data for other options are also presented [3][48]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No clear core viewpoints were presented in the given text 3. Summary by Directory 3.1 Option Trading Volume - On July 30, 2025, the trading volume of SSE 50 ETF options was 1.7247 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 1.3877 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1.5494 million contracts; the trading volume of Shenzhen 100 ETF options was 0.108 million contracts; the trading volume of ChiNext ETF options was 1.5279 million contracts; the trading volume of SSE 50 index options was 0.0555 million contracts; the trading volume of CSI 300 index options was 0.1241 million contracts; and the total trading volume of CSI 1000 options was 0.2491 million contracts [1][19] 3.2 Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.55, with a month - on - month change of - 0.15; the open interest PCR was reported at 1.04, with a month - on - month change of + 0.04; the turnover PCR of CSI 300 ETF options (Shanghai market) was reported at 0.63, with a month - on - month change of - 0.05; the open interest PCR was reported at 1.10, with a month - on - month change of + 0.04; and so on for other types of options [2][29] 3.3 Option VIX - The VIX of SSE 50 ETF options was reported at 17.19%, with a month - on - month change of - 0.50%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 17.10%, with a month - on - month change of - 0.73%; the VIX of CSI 500 ETF options (Shanghai market) was reported at 21.09%, with a month - on - month change of - 0.53%; and so on for other types of options [3][45]

股指期权日报 | 2025-07-30 股指期权日报 股指期权市场概况 期权成交量 2025-07-29，上证50ETF期权成交量为78.87万张；沪深300ETF期权（沪市）成交量为79.15万张； 中证500ETF期权（沪市）成交量为117.91万张；深证100ETF期权成交量为6.37万张； 创业板ETF期权成交量为128.87万张；上证50股指期权成交量为2.61万张； 沪深300股指期权成交量为7.11万张；中证1000期权总成交量为18.15万张。 期权PCR 上证50ETF期权成交额PCR报0.70，环比变动为+0.05；持仓量PCR报1.00，环比变动为+0.01； 沪深300ETF期权（沪市）成交额PCR报0.68，环比变动为-0.02；持仓量PCR报1.06，环比变动为-0.01； 中证500ETF期权（沪市）成交额PCR报0.57，环比变动为+0.01；持仓量PCR报1.09，环比变动为+0.05 ； 深圳100ETF期权成交额PCR报0.51 ，环比变动为-0.08；持仓量PCR报0.84；环比变动为+0.08； 创业板ETF期权成交额PCR报0.48，环比变动为+0.02 ；持仓量P ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints No core viewpoints are presented in the given content. Summary by Directory 1. Option Trading Volume - On July 24, 2025, the trading volume of SSE 50 ETF options was 987,100 contracts; CSI 300 ETF options (Shanghai) was 1,179,800 contracts; CSI 500 ETF options (Shanghai) was 1,198,900 contracts; Shenzhen 100 ETF options was 41,700 contracts; ChiNext ETF options was 1,121,400 contracts; SSE 50 index options was 36,700 contracts; CSI 300 index options was 87,000 contracts; and CSI 1000 options was 196,000 contracts [1]. - The specific breakdown of call and put trading volumes and total trading volumes for each option type is as follows: SSE 50 ETF options had 521,200 call contracts, 465,900 put contracts, and a total of 987,100 contracts; CSI 300 ETF options (Shanghai) had 585,400 call contracts, 594,500 put contracts, and a total of 1,179,800 contracts; CSI 500 ETF options (Shanghai) had 682,800 call contracts, 516,100 put contracts, and a total of 1,198,900 contracts; Shenzhen 100 ETF options had 22,000 call contracts, 19,800 put contracts, and a total of 41,700 contracts; ChiNext ETF options had 618,600 call contracts, 502,800 put contracts, and a total of 1,121,400 contracts; SSE 50 index options had 12,400 call contracts, 28,100 put contracts, and a total of 36,700 contracts; CSI 300 index options had 58,300 call contracts, 28,700 put contracts, and a total of 87,000 contracts; CSI 1000 index options had 112,200 call contracts, 83,900 put contracts, and a total of 196,000 contracts [20]. 2. Option PCR - The turnover PCR and position PCR, along with their环比 changes, for each option type are as follows: SSE 50 ETF options had a turnover PCR of 0.37 (环比 change of -0.10) and a position PCR of 1.32 (环比 change of +0.11); CSI 300 ETF options (Shanghai) had a turnover PCR of 0.34 (环比 change of -0.04) and a position PCR of 1.26 (环比 change of +0.00); CSI 500 ETF options (Shanghai) had a turnover PCR of 0.48 (环比 change of -0.03) and a position PCR of 1.36 (环比 change of -0.04); Shenzhen 100 ETF options had a turnover PCR of 0.21 (环比 change of -0.11) and a position PCR of 1.12 (环比 change of +0.05); ChiNext ETF options had a turnover PCR of 0.39 (环比 change of -0.03) and a position PCR of 1.38 (环比 change of +0.06); SSE 50 index options had a turnover PCR of 0.25 (环比 change of -0.08) and a position PCR of 0.55 (环比 change of +0.00); CSI 300 index options had a turnover PCR of 0.36 (环比 change of -0.04) and a position PCR of 0.71 (环比 change of +0.01); CSI 1000 index options had a turnover PCR of 0.48 (环比 change of -0.04) and a position PCR of 0.92 (环比 change of +0.00) [2][29]. 3. Option VIX - The VIX and its环比 changes for each option type are as follows: SSE 50 ETF options had a VIX of 17.56% (环比 change of +0.00%); CSI 300 ETF options (Shanghai) had a VIX of 18.04% (环比 change of +0.00%); CSI 500 ETF options (Shanghai) had a VIX of 22.07% (环比 change of +0.00%); Shenzhen 100 ETF options had a VIX of 21.97% (环比 change of +0.00%); ChiNext ETF options had a VIX of 25.86% (环比 change of -0.03%); SSE 50 index options had a VIX of 19.27% (环比 change of +0.00%); CSI 300 index options had a VIX of 19.44% (环比 change of +0.00%); CSI 1000 index options had a VIX of 22.71% (环比 change of +0.00%) [3][44].

Report Industry Investment Rating - Not provided Core Viewpoints - Not provided Summary by Directory Option Trading Volume - On July 23, 2025, the trading volume of SSE 50 ETF options was 2.0556 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 2.038 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1.8117 million contracts; the trading volume of Shenzhen 100 ETF options was 0.0859 million contracts; the trading volume of ChiNext ETF options was 1.8025 million contracts; the trading volume of SSE 50 index options was 0.0552 million contracts; the trading volume of CSI 300 index options was 0.1333 million contracts; the total trading volume of CSI 1000 options was 0.2252 million contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on that day, such as 1.293 million call contracts and 0.7626 million put contracts for SSE 50 ETF options, with a total of 2.0556 million contracts [20] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.37, with a month - on - month change of - 0.10; the open interest PCR was reported at 1.32, with a month - on - month change of + 0.11. Similar data are provided for other types of options [2] - The table presents the turnover PCR, its month - on - month change, open interest PCR, and its month - on - month change for various index ETF options [30] Option VIX - The VIX of SSE 50 ETF options was reported at 17.56%, with a month - on - month change of + 0.00%. Similar data are given for other options, except for ChiNext ETF options whose VIX was reported at 25.86%, with a month - on - month change of - 0.03% [3] - The table shows the VIX and its month - on - month change value for various index ETF options [45]

1. Report Industry Investment Rating - Not provided 2. Core Viewpoints - Not provided 3. Summary by Relevant Catalogs Option Trading Volume - On July 22, 2025, the trading volume of SSE 50 ETF options was 1.7474 million contracts; that of CSI 300 ETF options (Shanghai market) was 1.7566 million contracts; that of CSI 500 ETF options (Shanghai market) was 1.9083 million contracts; that of Shenzhen 100 ETF options was 0.1153 million contracts; that of ChiNext ETF options was 1.8540 million contracts; that of SSE 50 index options was 0.0410 million contracts; that of CSI 300 index options was 0.1069 million contracts; and that of CSI 1000 index options was 0.1801 million contracts [1][20] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.47, with a month - on - month change of +0.04; the open interest PCR was reported at 1.20, with a month - on - month change of +0.09. Similar data for other options are also provided, such as the turnover PCR of CSI 300 ETF options (Shanghai market) was 0.38, with a month - on - month change of +0.02; the open interest PCR was 1.25, with a month - on - month change of +0.07 [2][29] Option VIX - The VIX of SSE 50 ETF options was reported at 15.95%, with a month - on - month change of +0.24%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 16.57%, with a month - on - month change of +0.58%. Similar data for other options are also presented, like the VIX of CSI 500 ETF options (Shanghai market) was 20.70%, with a month - on - month change of +0.97% [3][45]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report focuses on the stock index and ETF options market on July 22, 2025, presenting data on market trends, including price changes, trading volume, open interest, and volatility, and warns about the expiration risk of ETF options [1]. 3. Summary by Category Market Data - **Underlying Market Statistics**: The closing prices of major indices and ETFs rose, with varying trading volume changes. For example, the Shanghai Composite 50 Index closed at 2792.18, up 19.94, and its trading volume was 68.31 billion hands, an increase of 18.36 billion hands [1]. - **Options Market Statistics**: Trading volume and open interest of most options increased. The PCR values (Volume - PCR and Open Interest - PCR) varied among different options, reflecting different market sentiment. For instance, the Volume - PCR of CSI 1000 Index Options was 72.54% [1]. - **Options Volatility Statistics**: Implied volatility (IV) and historical volatility (HV) of options showed different trends. For example, the near - month ATM - IV of Shanghai Composite 50 Index Options was 14.56%, with a 0.22% increase [4]. Index and ETF Options Analysis - **Shanghai Composite 50 Index Options**: Analyzed through full - contract PCR,主力 contract skew, volatility cone, and volatility term structure charts, showing market sentiment and volatility characteristics [7][8]. - **CSI 300 Index Options**: Similar analysis methods were used, with data presented in corresponding charts to reflect market conditions [11][12]. - **CSI 1000 Index Options**: The report analyzed its market performance from multiple perspectives, including trading volume, open interest, and volatility [14][15]. - **ETF Options**: Options such as Shanghai Composite 50ETF, Huatai - Berry 300ETF, and others were analyzed using PCR, skew, volatility cone, and term structure charts to understand their market trends [19][20].