商品期权隐波

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商品期权周报:2025年第34周-20250824
Dong Zheng Qi Huo· 2025-08-24 14:15
周度报告——商品期权 商品期权周报:2025 年第 34 周 报告日期: 2025 年 8 月 24 日 ★ 商品期权市场活跃度 本周(2025.8.18-2025.8.22)商品期权市场活跃度较上周有所 回落,日均成交量为 646 万手,日均持仓量为 732 万手,环 比变化分别为-26.6%和-28.23%。分品种来看,本周日均成交 活跃的品种主要包括纯碱(59 万手)、玻璃(51 万手)、棕 榈油(40 万手)。此外,本周共有 3 个品种成交增长超过 100%, 成交量增长较为显著的品种为对二甲苯(+1327%)、合成橡 胶(+125%)、短纤(+122%)。与此同时,成交量下降较 为明显的品种则有菜粕(-85%)、菜油(-85%)、豆油(-72%)。 从持仓量数据来看,本周日均持仓量较高的品种为螺纹钢(63 万手)、纯碱(62 万手)和豆粕(60 万手)。日均持仓量环 比增长较为迅速的品种为对二甲苯(+188%)、合成橡胶 (+77%)、多晶硅(+50%)。建议投资者可重点关注交易 活跃品种可能存在的市场机会。 ★ 商品期权主要数据点评 标的涨跌情况:本周商品期权标的期货以下跌为主,共有 37 个品种 ...
商品期权周报:2025年第33周-20250817
Dong Zheng Qi Huo· 2025-08-17 14:16
Report Title - "Commodity Options Weekly Report: Week 33 of 2025" [1] 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The activity level of the commodity options market in the week from August 11 - 15, 2025, was basically flat compared to the previous week. Investors are advised to focus on potential market opportunities in actively - traded varieties [2][9] - The underlying futures of commodity options showed mixed performance this week, with the energy - chemical and non - ferrous sectors mainly rising. Attention should be paid to risks and opportunities based on factors such as price fluctuations, implied volatility, and market sentiment [3][17][18] 3. Summary by Relevant Catalogs 3.1 Commodity Options Market Activity - The average daily trading volume was 8.81 million lots, with a week - on - week increase of 4.19%, and the average daily open interest was 10.2 million lots, with a week - on - week decrease of 18.19% [2][5][9] - Actively - traded varieties in terms of average daily trading volume included glass (1.07 million lots), soda ash (1.06 million lots), and soybean meal (0.6 million lots) [2][5][9] - Five varieties had trading volume growth of over 100%, with significant growth in synthetic rubber (+362%), Shanghai tin (+265%), and apples (+108%). Meanwhile, polycrystalline silicon (-77%), industrial silicon (-66%), and urea (-53%) had obvious trading volume declines [2][9] - Varieties with high average daily open interest were soybean meal (1.07 million lots), glass (0.96 million lots), and soda ash (0.87 million lots). Synthetic rubber (+58%), Shanghai tin (+37%), and p - xylene (+37%) had rapid week - on - week growth in average daily open interest [2][9] 3.2 This Week's Commodity Options Main Data Review 3.2.1 Underlying Price Fluctuations - There were 28 varieties with weekly gains, including lithium carbonate (+12.92%), palm oil (+5.11%), and soda ash (+4.73%); 23 varieties had weekly losses, including methanol (-2.55%), eggs (-2.30%), and logs (-1.87%) [3][17] 3.2.2 Market Volatility - The implied volatility of some commodity options varieties rebounded this week, with 23 varieties having current implied volatility above the 50th percentile of the past year. High - implied - volatility varieties included corn starch, eggs, logs, etc., and short - volatility opportunities were recommended. Low - implied - volatility varieties included non - ferrous metals, precious metals, plastics, etc., where buying options had a higher cost - performance ratio [3][17] 3.2.3 Options Market Sentiment - Varieties such as p - xylene, bottle chips, and soybean meal had a high volume PCR, indicating strong short - term bearish sentiment. Glass, rubber, soda ash, and rapeseed oil had a low volume PCR, showing concentrated short - term bullish sentiment [3][18] - P - xylene, lithium carbonate, and soda ash had a high open - interest PCR, indicating a high level of accumulated bearish sentiment. Nickel, logs, sugar, and rubber had a low open - interest PCR, indicating accumulated bullish sentiment [3][18] 3.3 Key Data Overview of Main Varieties - This chapter presents key data of main varieties, including trading volume, volatility, and options market sentiment indicators. More detailed data can be accessed on the Dongzheng Finoview official website (https://www.finoview.com.cn/) [22]