1. Report Industry Investment Rating - No relevant content found 2. Core Viewpoints of the Report - The trading volume of commodity options reached 6.34 million contracts. Some varieties had relatively large trading volumes, such as soybean meal options with 670,000 contracts, palm oil options with 580,000 contracts, and soda ash options with 430,000 contracts. In terms of open interest, soybean meal options exceeded 1.09 million contracts, and rebar options exceeded 550,000 contracts. Regarding the trading volume PCR, some varieties deviated significantly, presenting trading opportunities but also liquidity risks [1][3]. - In the agricultural product sector, the IV of corn options rose by 5.86%, while that of egg options fell by 4.88%. In the energy and chemical sector, the IV of caustic soda options increased by 3.06%, and that of lithium carbonate options decreased by 4.47%. In the metal sector, the IV of each variety showed mixed trends, with the IV of Shanghai silver options dropping by 0.69% [3]. 3. Summary According to the Directory 3.1. Market Quick View 3.1.1. Trading Volume and Open Interest - The report provides detailed trading volume and open - interest data for various commodity options, including information on the underlying asset's closing price, price change, option trading volume, call and put trading volumes, option open interest, call and put open interests, and trading volume and open - interest PCR for each variety [5]. 3.1.2. Volatility - The report presents the implied volatility (IV) data of various commodity options, including the flat - strike IV, IV change in absolute value, historical volatility (30 - day, 60 - day, and 90 - day), and the difference between implied and historical volatility (IV - HV) for each variety [11]. 3.2. Variety Research 3.2.1. Soybean Meal Options - The report includes charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for soybean meal options [13]. 3.2.2. Rapeseed Meal Options - It provides charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for rapeseed meal options [17]. 3.2.3. PTA Options - The report contains charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for PTA options [21]. 3.2.4. Methanol Options - It offers charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for methanol options [23]. 3.2.5. Sugar Options - The report includes charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for sugar options [26]. 3.2.6. Soda Ash Options - It provides charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for soda ash options [31]. 3.2.7. Iron Ore Options - The report contains charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for iron ore options [35]. 3.2.8. Shanghai Silver Options - It offers charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for Shanghai silver options [38]. 3.2.9. Rebar Options - The report includes charts of the volatility smile curve, volatility term structure, recent one - month IV trend, and recent one - month implied - historical volatility difference trend for rebar options [42].