1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The report presents the daily market overview of index options on October 20, 2025, including option trading volume, PCR, and VIX data for various index options [1][2][3] 3. Summary by Relevant Catalog Option Trading Volume - On October 20, 2025, the trading volume of Shanghai - 50 ETF options was 174.02 million contracts; CSI 300 ETF options (Shanghai) was 195.42 million contracts; CSI 500 ETF options (Shanghai) was 234.77 million contracts; Shenzhen 100 ETF options was 12.45 million contracts; ChiNext ETF options was 276.42 million contracts; Shanghai - 50 index options was 2.72 million contracts; CSI 300 index options was 22.84 million contracts; and CSI 1000 options was 21.04 million contracts [1] Option PCR - The turnover PCR of Shanghai - 50 ETF options was reported at 0.76, with a month - on - month change of +0.04; the position PCR was 0.79, with a month - on - month change of - 0.01. Similar data for other options are also provided, showing different changes in turnover PCR and position PCR [2] Option VIX - The VIX of Shanghai - 50 ETF options was reported at 17.89%, with a month - on - month change of - 0.90%. Other options also have their respective VIX values and month - on - month changes [3]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View The report presents a daily overview of the stock index options market, including option trading volume, PCR, and VIX data for various stock index options on October 16, 2025. 3. Summary by Directory I. Option Trading Volume - On October 16, 2025, the trading volumes of various stock index options were as follows: Shanghai - Shenzhen 300 ETF options (Shanghai) had 206.93 million contracts; CSI 500 ETF options (Shanghai) had 239.22 million contracts; ChiNext ETF options had 218.91 million contracts; Shanghai - Shenzhen 300 stock index options had 18.88 million contracts; CSI 1000 options had 36.24 million contracts; SSE 50 ETF options had 156.74 million contracts; SSE 50 stock index options had 10.48 million contracts; and Shenzhen 100 ETF options had 19.24 million contracts [1]. - The table also shows the call, put, and total trading volumes for each option type, such as 81.65 million call and 77.50 million put contracts for SSE 50 ETF options, with a total of 159.15 million contracts [19]. II. Option PCR - The PCR data for different options on October 16, 2025, showed that the turnover PCR of SSE 50 ETF options was 0.48, with a - 0.27 change compared to the previous period, and the position PCR was 0.87, with a + 0.14 change [2]. - For example, the turnover PCR of Shanghai - Shenzhen 300 ETF options (Shanghai) was 0.60, with a - 0.51 change, and the position PCR was 1.04, with a + 0.12 change [2]. III. Option VIX - The VIX data of different options on October 16, 2025, indicated that the VIX of SSE 50 ETF options was 18.13%, with a - 1.70% change compared to the previous period [3]. - For instance, the VIX of Shanghai - Shenzhen 300 ETF options (Shanghai) was 19.28%, with a - 1.65% change [3].

Report Industry Investment Rating - No information provided Core Viewpoints - No information provided Summary by Relevant Catalogs Option Trading Volume - On October 15, 2025, the trading volume of SSE 50 ETF options was 1.8713 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 2.4432 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 2.9055 million contracts; the trading volume of Shenzhen 100 ETF options was 0.1309 million contracts; the trading volume of ChiNext ETF options was 2.4848 million contracts; the trading volume of SSE 50 index options was 0.0843 million contracts; the trading volume of CSI 300 index options was 0.2510 million contracts; the total trading volume of CSI 1000 options was 0.4212 million contracts [1] - The call trading volume, put trading volume, and total trading volume of various index ETF options on the previous day are presented in a table, including specific figures for SSE 50 ETF options, CSI 300 ETF options (Shanghai market), etc [21] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.74, with a month - on - month change of - 0.24; the open interest PCR was reported at 0.74, with a month - on - month change of - 0.01. Similar data for other types of options are also provided, including CSI 300 ETF options (Shanghai market), CSI 500 ETF options (Shanghai market), etc [2] - A table shows the turnover PCR, month - on - month change, open interest PCR, and month - on - month change of various index ETF options on the previous day [37] Option VIX - The VIX of SSE 50 ETF options was reported at 19.83%, with a month - on - month change of - 0.08%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 20.93%, with a month - on - month change of + 0.37%. Similar data for other types of options are also provided, including CSI 500 ETF options (Shanghai market), Shenzhen 100 ETF options, etc [3] - A table presents the VIX and month - on - month change values of various index ETF options on the previous day [51]

1. Report Industry Investment Rating - No relevant content provided 2. Report's Core View - The report provides a daily overview of the stock index options market, including option trading volume, PCR, and VIX data for various types of options on October 14, 2025 [1][2][3] 3. Summary by Related Catalogs Option Trading Volume - On October 14, 2025, the trading volumes of various options were as follows: Shanghai Stock Exchange 50 ETF option was 1542900 contracts; CSI 300 ETF option (Shanghai market) was 1767700 contracts; CSI 500 ETF option (Shanghai market) was 2241500 contracts; Shenzhen 100 ETF option was 126500 contracts; ChiNext ETF option was 3202400 contracts; Shanghai Stock Exchange 50 stock index option was 105100 contracts; CSI 300 stock index option was 224300 contracts; and CSI 1000 option was 494700 contracts [1] Option PCR - The turnover PCR and position PCR, along with their环比 changes, are reported for each type of option. For example, the turnover PCR of Shanghai Stock Exchange 50 ETF option was 0.74 with a环比 change of -0.24, and the position PCR was 0.74 with a环比 change of -0.01 [2] Option VIX - The VIX values and their环比 changes are given for different options. For instance, the VIX of Shanghai Stock Exchange 50 ETF option was 19.83% with a环比 change of -0.08% [3]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint No information provided. 3. Summary by Relevant Catalog I. Option Trading Volume - On October 13, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1468,500 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 1,727,300 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,823,600 contracts; the trading volume of Shenzhen 100 ETF options was 112,100 contracts; the trading volume of ChiNext ETF options was 2,461,100 contracts; the trading volume of Shanghai Stock Exchange 50 index options was 96,000 contracts; the trading volume of CSI 300 index options was 194,000 contracts; and the total trading volume of CSI 1000 options was 448,200 contracts [1]. - The table also shows the call, put, and total trading volumes of various index ETF options on the same day, such as 700,400 call contracts and 842,500 put contracts for Shanghai Stock Exchange 50 ETF options, with a total of 1,542,900 contracts [20]. II. Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.98, with a month - on - month change of +0.38; the position PCR was reported at 0.75, with a month - on - month change of +0.00. Similar data is provided for other types of options, like the turnover PCR of CSI 300 ETF options (Shanghai market) was 1.14, with a month - on - month change of +0.40, and the position PCR was 0.92, with a month - on - month change of - 0.06 [2][34]. III. Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 19.91%, with a month - on - month change of +1.39%. For other options, such as the VIX of CSI 300 ETF options (Shanghai market) was 20.55%, with a month - on - month change of +1.74%, and the VIX of CSI 500 ETF options (Shanghai market) was 25.02%, with a month - on - month change of +1.90% [3][47].

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report presents the trading data of various index options on October 9, 2025, including trading volume, PCR (Put - Call Ratio), and VIX (Volatility Index), to reflect the market conditions of the index option market. 3. Summary by Directory I. Option Trading Volume - On October 9, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 819,500 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 956,500 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,214,100 contracts; the trading volume of Shenzhen 100 ETF options was 46,800 contracts; the trading volume of ChiNext ETF options was 1,961,900 contracts; the trading volume of Shanghai Stock Exchange 50 index options was 103,600 contracts; the trading volume of CSI 300 index options was 117,100 contracts; and the total trading volume of CSI 1000 options was 300,500 contracts [1]. - The detailed one - day trading volume data of index ETF options are as follows: the total trading volume of Shanghai Stock Exchange 50 ETF options was 1,665,600 contracts (896,100 call contracts and 769,500 put contracts); the total trading volume of CSI 300 ETF options (Shanghai market) was 1,612,400 contracts (815,300 call contracts and 797,100 put contracts); the total trading volume of CSI 500 ETF options (Shanghai market) was 1,767,100 contracts (848,500 call contracts and 918,600 put contracts); the total trading volume of Shenzhen 100 ETF options was 103,600 contracts (68,000 call contracts and 35,700 put contracts); the total trading volume of ChiNext ETF options was 1,961,900 contracts (988,600 call contracts and 973,300 put contracts); the total trading volume of Shanghai Stock Exchange 50 index options was 103,600 contracts (22,600 call contracts and 34,200 put contracts); the total trading volume of CSI 300 index options was 1,900,000 contracts (118,300 call contracts and 71,700 put contracts); the total trading volume of CSI 1000 index options was 300,500 contracts (156,400 call contracts and 144,100 put contracts) [21]. II. Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.41, with a month - on - month change of - 0.04; the position PCR was reported at 0.86, with a month - on - month change of + 0.06. 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 - 0.04; the position PCR was 1.18, with a month - on - month change of + 0.10, etc. [2]. - The detailed one - day PCR data of index ETF options are presented in the table, including turnover PCR and its month - on - month change, and position PCR and its month - on - month change for each type of option [36]. III. Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 17.76%, with a month - on - month change of - 0.55%; the VIX of CSI 300 ETF options (Shanghai market) was 17.94%, with a month - on - month change of - 1.08%; and so on for other options [3]. - The detailed one - day VIX data of index ETF options are shown in the table, including the VIX value and its month - on - month change for each type of option [52].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints The report presents the trading data of various stock index options on September 30, 2025, including trading volume, PCR (Put-Call Ratio), and VIX (Volatility Index), to reflect the market conditions of these options. 3. Summary by Directory Option Trading Volume - On September 30, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1473700 contracts; the trading volume of Shanghai Stock Exchange 300 ETF options was 1447200 contracts; the trading volume of Shanghai Stock Exchange 500 ETF options was 1529500 contracts; the trading volume of Shenzhen 100 ETF options was 127900 contracts; the trading volume of ChiNext ETF options was 1374900 contracts; the trading volume of Shanghai Stock Exchange 50 stock index options was 51800 contracts; the trading volume of Shanghai Stock Exchange 300 stock index options was 176000 contracts; the total trading volume of China Securities 1000 options was 267700 contracts [1]. - The detailed trading volume data of call and put options for each type of option are also provided. For example, the call trading volume of Shanghai Stock Exchange 50 ETF options was 453800 contracts, and the put trading volume was 365700 contracts, with a total trading volume of 819500 contracts [20]. Option PCR - The PCR data of various options show the changes in the ratio of put option trading volume or open interest to call option trading volume or open interest. For example, the trading volume PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.45, with a month-on-month change of -0.03; the open interest PCR was reported at 0.80, with a month-on-month change of +0.01 [2]. Option VIX - The VIX data of various options reflect the implied volatility of the options. For example, the VIX of Shanghai Stock Exchange 50 ETF options was reported at 18.30%, with a month-on-month change of -0.43%; the VIX of Shanghai Stock Exchange 300 ETF options was reported at 19.02%, with a month-on-month change of -0.66% [3].

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 Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs Option Trading Volume - On September 29, 2025, the trading volumes of various options were as follows: 788,200 contracts for SSE 50 ETF options, 937,300 contracts for SSE 300 ETF options (Shanghai market), 1,443,500 contracts for CSI 500 ETF options (Shanghai market), 124,500 contracts for Shenzhen 100 ETF options, 1,787,700 contracts for ChiNext ETF options, 117,400 contracts for SSE 50 index options, 106,400 contracts for SSE 300 index options, and 306,600 contracts for CSI 1000 options [1]. - The detailed trading volumes (including call, put, and total) of different index ETF options on a recent day are presented in a table, with specific values for each type of option [20]. Option PCR - The PCR data of different options on a recent day are as follows: for SSE 50 ETF options, the turnover PCR is 0.48 (with a -0.19 change compared to the previous period), and the open - interest PCR is 0.79 (with a +0.01 change); for SSE 300 ETF options (Shanghai market), the turnover PCR is 0.47 (-0.16 change), and the open - interest PCR is 1.08 (-0.03 change); for CSI 500 ETF options (Shanghai market), the turnover PCR is 0.63 (-0.25 change), and the open - interest PCR is 1.28 (-0.04 change); for Shenzhen 100 ETF options, the turnover PCR is 0.73 (+0.03 change), and the open - interest PCR is 1.16 (-0.02 change); for ChiNext ETF options, the turnover PCR is 0.59 (-0.15 change), and the open - interest PCR is 1.33 (+0.14 change); for SSE 50 index options, the turnover PCR is 0.28 (-0.07 change), and the open - interest PCR is 0.70 (+0.04 change); for SSE 300 index options, the turnover PCR is 0.30 (-0.19 change), and the open - interest PCR is 0.92 (+0.05 change); for CSI 1000 index options, the turnover PCR is 0.67 (-0.42 change), and the open - interest PCR is 0.99 (+0.02 change) [2][28]. Option VIX - The VIX data of different options on a recent day are as follows: for SSE 50 ETF options, the VIX is 18.73% (with a +1.92% change compared to the previous period); for SSE 300 ETF options (Shanghai market), the VIX is 19.68% (+1.54% change); for CSI 500 ETF options (Shanghai market), the VIX is 24.28% (-0.15% change); for Shenzhen 100 ETF options, the VIX is 27.23% (-0.07% change); for ChiNext ETF options, the VIX is 36.65% (-1.00% change); for SSE 50 index options, the VIX is 18.54% (+1.01% change); for SSE 300 index options, the VIX is 19.17% (+0.95% change); for CSI 1000 index options, the VIX is 24.70% (-0.16% change) [3][43].

Report Summary 1. Investment Rating The provided content does not contain information about the industry investment rating. 2. Core View The report presents a daily overview of the stock index options market, including option trading volume, PCR (Put-Call Ratio), and VIX (Volatility Index) data for various index options on September 26, 2025. 3. Section Summaries Option Trading Volume - On September 26, 2025, the trading volumes were as follows: 883,800 contracts for SSE 50 ETF options, 1,061,000 for CSI 300 ETF options (Shanghai market), 1,492,600 for CSI 500 ETF options (Shanghai market), 69,200 for Shenzhen 100 ETF options, 1,769,800 for ChiNext ETF options, 43,800 for SSE 50 index options, 134,200 for CSI 300 index options, and 282,500 for CSI 1000 options [1]. - The table also shows the call, put, and total trading volumes for each option type [20]. Option PCR - The report provides the turnover PCR and position PCR, along with their环比 changes, for different index options. For example, the turnover PCR of SSE 50 ETF options was 0.67 with a +0.07环比 change, and the position PCR was 0.79 with a -0.01环比 change [2][30]. Option VIX - The VIX values and their环比 changes are reported for each option type. For instance, the VIX of SSE 50 ETF options was 16.81% with a +0.29%环比 change [3][42].