1. Report Summary 1.1 Financial Option Trading Volumes and Positions - This week, the average daily trading volume of 50ETF options was 966,000 contracts, a -2.11% decrease from the previous week. The put - call trading ratio was 1.15, higher than the historical average, and the put - call position ratio last week was 0.98, also above the historical average [2]. - Huatai - Berry 300ETF options had an average daily trading volume of 718,900 contracts and an average daily position of 1,192,100 contracts; Southern China CSI 500ETF options had an average daily trading volume of 1,066,700 contracts and an average daily position of 1,266,600 contracts; Huaxia Shanghai Science and Technology Innovation 50ETF options had an average daily trading volume of 470,300 contracts and an average daily position of 1,557,500 contracts; Shenzhen 100ETF options had an average daily trading volume of 49,800 contracts and an average daily position of 102,800 contracts; ChiNext ETF options had an average daily trading volume of 892,400 contracts and an average daily position of 1,317,300 contracts; CSI 300 index options had an average daily trading volume of 48,800 lots and an average daily position of 162,800 lots; CSI 1000 index options had an average daily trading volume of 139,300 lots and an average daily position of 246,000 lots [2]. 1.2 Volatility - As of the close on Friday, the implied volatility of CSI 300 index options was 13.26%, a 0.25% decrease from a week ago; the implied volatility of 50ETF options was 12.79%, a 1.13% decrease from a week ago; the implied volatility of CSI 1000 index options was 18.90%, a 2.71% decrease from a week ago. The South China 50ETF option volatility index was 14.66, the South China CSI 300 option volatility index was 15.74, and the South China CSI 1000 option volatility index was 21.32 [3].

Group 1: Trading Volume and Open Interest of Financial Options - The average daily trading volume of 50ETF options this week was 769,600 contracts, a -31.45% decrease from the previous week. The put - call trading ratio was 0.95, higher than the previous week and the historical average. The put - call open interest ratio last week was 0.92, also higher than the previous week and the historical average [2]. - The average daily trading volume of Huatai Berich 300ETF options was 734,200 contracts, and the average daily open interest was 1,169,100 contracts [2]. - The average daily trading volume of Southern China Securities 500ETF options was 1,023,300 contracts, and the average daily open interest was 1,100,800 contracts [2]. - The average daily trading volume of ChinaAMC SSE STAR 50ETF options was 579,500 contracts, and the average daily open interest was 1,654,100 contracts [2]. - The average daily trading volume of Shenzhen 100ETF options was 45,000 contracts, and the average daily open interest was 116,500 contracts [2]. - The average daily trading volume of ChiNext ETF options was 1,024,000 contracts, and the average daily open interest was 1,349,200 contracts [2]. - The average daily trading volume of CSI 300 index options was 53,900 lots, and the average daily open interest was 164,400 lots [2]. - The average daily trading volume of CSI 1000 index options was 162,300 lots, and the average daily open interest was 208,100 lots [2]. Group 2: Volatility of Options - As of the close on Friday, the implied volatility of CSI 300 index options was 15.80%, a 0.88% decrease from a week ago. The implied volatility of 50ETF options was 14.35%, a 0.49% decrease from a week ago. The implied volatility of CSI 1000 index options was 25.20%, a 0.34% decrease from a week ago [3]. - The Nanhua 50ETF option volatility index was 14.98, the Nanhua CSI 300 option volatility index was 18.26, and the Nanhua CSI 1000 option volatility index was 26.2 [3]. Group 3: Overall Market Situation - The financial market as a whole maintained a volatile pattern this week. The closing prices of the 5 trading days remained almost unchanged, and the intraday amplitude was relatively small. The trading volume hovered around 1 trillion. The implied volatility of options continued to decline. Currently, the implied volatility of SSE 50 and CSI 300 has fallen to a relatively low level in history, while that of CSI 1000 is at a medium - level in history [4].