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商品期权周报:隐波下降,市场震荡回落-20250825
Nan Hua Qi Huo· 2025-08-25 06:43
Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - This week, the trading volume of commodity options decreased significantly by 24.45% compared to last week, and the open interest decreased by 24.29%. The market sentiment of commodity options cooled significantly, and the implied volatility of options generally declined [2][4]. - The implied volatility of lithium carbonate and soda ash options decreased by more than 4 percentage points compared to last Friday and are currently at the 60%-70% and 30%-40% historical quantile levels respectively [2][4]. 3. Summary of Relevant Content Volatility - As of Friday's close, the implied volatility of crude oil options was 28.91%, a decrease of 4.35% from a week ago; lithium carbonate options was 42.69%, a decrease of 5.54%; rebar options was 11.35%, a decrease of 0.46%; soda ash options was 18.20%, a decrease of 1.48%; gold options was 15.51%, a decrease of 0.25%; silver options was 18.06%, a decrease of 0.21%; palm oil options was 15.61%, an increase of 0.14%; soybean oil options was 21.60%, an increase of 2.06%; rapeseed oil options was 19.84%, a decrease of 0.35%; rubber options was 12.69%, a decrease of 2.85% [1][4]. Figures - There are multiple figures in the report, including those showing the trading volume and open interest, implied volatility and historical volatility, skewness structure, and term structure of various commodity options such as crude oil, lithium carbonate, rebar, soda ash, gold, silver, palm oil, soybean oil, rapeseed oil, and rubber [5][13][20].