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Report Industry Investment Ratings - Copper: ★★★ [1] - Aluminum: ★★★ [1] - Alumina: ★★★ [1] - Cast Aluminum Alloy: ★★★ [1] - Zinc: ★★★ [1] - Nickel and Stainless Steel: ★★★ [1] - Tin: ★★★ [1] - Lithium Carbonate: ★★★ [1] - Industrial Silicon: ★★★ [1] - Polysilicon: ★★★ [1] Core Views - The market anticipates a continued increase in domestic copper inventories during the holiday, and there is a risk of the copper price adjusting to the MA60 moving average. The aluminum market has adjustment pressure around the Spring Festival, and the supply - demand of aluminum both decline during the long holiday. The zinc market is expected to be high - volatile in the short term, with a supply - demand imbalance. The nickel and stainless - steel market is dominated by policy sentiment, and the tin market awaits post - holiday supply and consumption guidance. The lithium carbonate market has high short - term uncertainty, and the industrial silicon market is expected to continue to fluctuate. The polysilicon market price is expected to maintain a volatile trend [2][3][4][7][8][9][10][11] Summary by Relevant Catalogs Copper - On the last trading day before the holiday, some buyers of Shanghai copper were active below the MA40 moving average. The market expects domestic copper inventories to continue to accumulate during the holiday. There is a risk of the copper price adjusting to the MA60 moving average, and the inter - period reverse arbitrage strategy is continued [2] Aluminum, Alumina, and Aluminum Alloy - Shanghai aluminum declined with non - ferrous metals. Social inventories continued to increase, and there is adjustment pressure around the Spring Festival. Cast aluminum alloy follows the fluctuation of Shanghai aluminum, with low market activity. The operating capacity of domestic alumina has decreased, but the oversupply situation remains unchanged. The cash cost support of alumina is below 2500 yuan, and it is in a range - bound state [3] Zinc - As the holiday approaches, Shanghai zinc rebounded near the 5 - day moving average and then fell sharply. The downstream procurement basically stopped, and funds mainly reduced positions. The long sentiment in the non - ferrous and precious metal sectors disappeared. The short - term outlook is high - volatility, but the expectation of oversupply of zinc ingots remains unchanged, and the strategy of shorting on rebounds is continued [4] Nickel and Stainless Steel - The rebound of Shanghai nickel was blocked, and market trading was dull. The social inventory of nickel and stainless steel continued to increase. The market confidence declined, and the transaction was light. The market is in a pre - holiday state, waiting for a clear direction [7] Tin - The decline of Shanghai tin expanded during the day, and the relative support of the tin price is at the MA60 moving average. It awaits the guidance of post - holiday supply trends and peak - season consumption rhythms [8] Lithium Carbonate - Lithium carbonate rebounded sharply, and market trading was dull. The overall inventory reduction speed of the market slowed down. There may be spot dumping, and the short - term uncertainty is high [9] Industrial Silicon - Industrial silicon rebounded at the end of the session. The supply side has a phased contraction, and there is a resumption expectation after the holiday. The downstream demand may be dragged down. The inventory is differentiated, and it is expected to continue to fluctuate [10] Polysilicon - The polysilicon futures rose slightly, and the price fluctuation narrowed. In February, the polysilicon production decreased by more than 20% month - on - month, and the downstream silicon wafer production is expected to be reduced by 3%. The market is expected to maintain a volatile trend [11]

Report Industry Investment Rating No relevant content provided. Core View of the Report - It is expected that precious metals will experience wide - range fluctuations and be generally weak in the short term, oscillate to build a bottom in the medium term, and maintain a long - term bullish trend [1]. Summary by Relevant Catalogs 1. Gold - **Strategy**: Conservative investors should wait and see, while aggressive investors can buy low and sell high. It is recommended to manage positions well and set strict stop - loss and take - profit levels [2]. - **Price Data**: Comex gold active contract closed at $4941.40 per ounce, down $166.40 (-3.26%); London gold at $5043.15 per ounce, down $34.70 (-0.68%); Shanghai gold futures main contract at 1110.10 yuan per gram, down 16.02 yuan (-1.42%); Gold T + D at 1108.50 yuan per gram, down 14.42 yuan (-1.28%) [2]. - **Position and Inventory**: Comex gold positions decreased by 16.13% to 409,694 contracts; Shanghai gold futures main contract positions decreased by 6.53% to 153,140 contracts; LBMA gold inventory increased by 0.57% to 9158 tons [2]. 2. Silver - **Strategy**: Similar to gold, conservative investors should wait and see, and aggressive investors can use a high - selling and low - buying strategy. Good position management and strict stop - loss and take - profit are recommended [5]. - **Price Data**: Comex silver active contract closed at $75.01 per ounce, down $9.07 (-10.79%); London silver at $83.52 per ounce, down $2.58 (-3.00%); Shanghai silver futures main contract at 19,782 yuan per kilogram, down 844 yuan (-4.09%) [5]. - **Position and Inventory**: Comex silver positions remained unchanged at 143,180 contracts; Shanghai silver futures main contract positions decreased by 20.22% to 2,718,300 contracts; Total visible inventory decreased by 1.78% to 40,324 tons [5]. 3. Platinum - **Strategy**: Conservative investors should wait and see, and aggressive investors can buy low and sell high. Position management and stop - loss/take - profit are necessary [7]. - **Price Data**: NYMEX platinum active contract closed at $2097.40 per ounce, up $126.40 (6.41%); London platinum at $2054 per ounce, up $30 (1.48%); Platinum futures main contract on Guangzhou Futures Exchange at 545.05 yuan per gram, up 39.05 yuan (7.72%) [8]. - **Position and Inventory**: NYMEX platinum active contract positions decreased by 5.47% to 55,657 contracts; NYMEX platinum total inventory decreased by 1.33% to 21 tons [8]. 4. Palladium - **Strategy**: Conservative investors should wait and see, and aggressive investors can adopt a high - selling and low - buying strategy. Position management and stop - loss/take - profit are recommended [10]. - **Price Data**: NYMEX palladium active contract closed at $1712 per ounce, up $71 (4.33%); London palladium at $1693 per ounce, down $127 (-7.56%); Palladium futures main contract on Guangzhou Futures Exchange at 438.15 yuan per gram, up 27.65 yuan (6.74%) [10]. - **Position and Inventory**: NYMEX palladium active contract positions decreased by 14.87% to 13,515 contracts; NYMEX palladium total inventory decreased by 14.80% to 6 tons [10]. 5. Key Fundamental Data of Precious Metals - **Monetary Policy**: The upper limit of the federal funds target rate is 3.75%, the discount rate is 3.75%, and the reserve balance interest rate is 3.65%, all down 0.25 percentage points [11]. - **Economic Indicators**: The 10 - year US Treasury real yield is 2.39%, down 0.11 (-4.40%); the US dollar index is 96.91, down 1.06 (-1.08%); the US trade deficit is -$56.8 billion, down $27.6 billion (-94.57%) [11][13]. - **Inflation Data**: CPI year - on - year is 2.70%, with no change; core CPI year - on - year is 2.60%, with no change; PCE price index year - on - year is 2.77%, up 0.09 [11]. - **Other Data**: The geopolitical risk index is 142.57, down 24.88 (-14.86%); the VIX index is 20.82, up 3.17 (17.96%); the CRB commodity index is 306.23, down 4.36 (-1.40%) [13].

1. Report Industry Investment Rating - No relevant information provided. 2. Core Viewpoints of the Report - As the Spring Festival holiday approaches, risk aversion in the domestic oil market is intensifying. Soybean oil and palm oil have different focuses in their trends under the combined influence of their respective fundamentals and external factors, while maintaining a linkage [5]. 3. Summary by Related Catalogs Soybean Oil - The current focus of the soybean oil market is the US 2026 biofuel mandatory blending quota to be determined in early March. Policy利好 expectations are continuously boosting the demand prospects of US soybean oil and global soybean oil. The 45Z clean fuel tax credit proposed rules recently issued by the US Treasury Department provide a profound and multi - level long - term structural support for the US soybean oil futures price [6]. - There are three main risks in the later soybean oil market. Firstly, if the US biofuel policy in March is less than expected or the drought in South America significantly improves, the prices of US soybeans and US soybean oil may decline, weakening the support for domestic import costs. Secondly, there is a risk of inventory accumulation in China. After the Spring Festival, if the consumption recovery is slow, the soybean oil inventory of oil mills may face pressure. Thirdly, attention should be paid to the price difference changes among oil varieties [7]. Palm Oil - The core logic of the palm oil market revolves around the contraction of origin supply, the warming of export demand, and the unexpected decline in inventory. The latest report from the Malaysian Palm Oil Board confirms and strengthens this pattern. In January, the palm oil inventory in Malaysia decreased by 7.72% month - on - month to 2815000 tons, the production of crude palm oil decreased by 13.78% month - on - month to 1577000 tons, and the export volume increased by 11.44% month - on - month to 1484000 tons [8]. - In the domestic market, as the Spring Festival approaches, risk aversion is intensifying, which drags down the price. Potential risks include the subsequent weather changes in Southeast Asian producing areas and the purchasing rhythm of major importing countries. After the festival, attention should be paid to the estimated production of Malaysian palm oil in February, high - frequency export data, and the actual arrival rhythm of domestic ports [9].

1. Report Industry Investment Rating No information provided in the content. 2. Core Viewpoints of the Report - A long - term bull market started in early 2024, and the current market is in the main rising wave [5]. - The driving forces of this bull market include macro - economic policy support, an increase in corporate profit growth, the re - allocation of household savings to the stock market, the return of global capital, the inflow of long - term funds, and the further advancement of market value management reform [5]. - From the perspective of valuation, the bull market has three stages: confidence restoration, the main rising wave, and the crazy bull market. Currently, it is in the main rising wave [5]. - The stock market has multiple positive effects such as promoting economic transformation, stimulating economic growth, improving the corporate financing environment, alleviating debt pressure, and enhancing international competitiveness [82]. 3. Summary According to the Directory 3.1 Why the Current Bull Market Started in Early 2024 - In February 2024, the market completed the bear - to - bull conversion, which is also the case for other indexes [7]. 3.2 Driving Forces of the Bull Market 3.2.1 Macroeconomic Policy and Cyclical Recovery Expectations - The macro - economy is under pressure and requires loose support policies. However, there are positive signals due to industrial chain advantages and key technological breakthroughs [9]. - Fixed - asset investment growth has continued to decline, and the decline accelerated in Q3 and Q4 of 2025, turning negative for the whole year. Manufacturing growth is only slight [10][12]. - The growth of total retail sales of consumer goods has slowed down, and consumer confidence remains low. This is due to weakened income and income expectations, high household leverage, and the need for preventive savings [14][17]. - Inflation is persistently weak. The consumption structure shows a pattern of "strong at both ends and weak in the middle". For PPI, the downward pressure on production material prices is more obvious [19][24]. - Manufacturing PMI has been weak, with环比 data lower than seasonal levels, rising ex - factory prices, a decline in raw material inventory possibly due to active de - stocking, rising raw material purchase prices, and weak new and on - hand orders [25][29]. - Fiscal policy is loose. The government has room to increase leverage, and the average maturity of local government bonds has been lengthening [30][32]. - The money market is loose. The 7 - day reverse repurchase rate has remained low, and there is still room for further decline in interest rates. The adjustment of treasury bond futures indicates a change in market expectations [34][36]. - The Fed's interest rate cuts provide room and necessity for domestic interest rate cuts. The Fed has cut rates by 25 basis points and is expected to cut twice more this year. Domestic commercial banks have lowered deposit rates, and the real domestic interest rate is high [37][39]. - Exports show strong resilience, but exports to the US have declined significantly. China's share of global exports remains stable, and new "new three items" are emerging as new drivers of foreign trade [40][45]. - In the chip industry, the effect of import substitution is emerging, and the export growth rate is much higher than the import growth rate. A complete domestic chip industry chain is rising [49]. - The production, sales, and exports of automobiles are expected to reach new highs this year, and the export volume has exceeded the sum of Germany and Japan [50][53]. - The increase in excavator production and sales is mainly due to the low - base effect and still has a large gap compared with the peak [58]. - The real estate market is in the bottom - building process, with a decline in housing prices. The real estate market will have a lower correlation with the macro - economy in the future, and there is a possibility of a retaliatory rise in housing prices [60]. 3.2.2 Increase in Corporate Profit Growth - The profit growth rate of industrial enterprises above a designated size has rebounded. In 2025, the cumulative year - on - year growth rate of total profits turned positive. The profit of listed companies in the A - share market has also returned to growth, and the scope of profit improvement is gradually expanding [62]. 3.2.3 Re - allocation of Household Savings to the Stock Market - Household deposits are likely to continue to rise, and the ratio of the total stock market value to household deposits is still low, indicating great potential for households to allocate more assets to the stock market [64]. 3.2.4 Return of Global Capital - Global investors plan to increase their investment in China - focused hedge funds in 2026. The net proportion of investors planning to increase investment has reached 14%, higher than the 9% in 2025. At the same time, investors' interest in the North American market has declined significantly [65]. - The US dollar has entered a downward trend, and bank settlement and sales of foreign exchange have turned into a surplus, which may be due to the inflow of overseas hot money. When the settlement and sales of foreign exchange turn into a surplus, the overall trend of the A - share market is usually strong [67][71]. 3.2.5 Inflow of Long - term Funds - A series of policies have been introduced to encourage long - term funds to enter the market. In 2025, the scale of long - term capital entering the market increased significantly, and the investor structure was continuously optimized [75][76]. 3.2.6 Further Advancement of Market Value Management Reform - National - level and state - owned enterprise - specific policies have been introduced to promote market value management. The policy goals include increasing the total market value, repurchase amount, and cash dividend ratio, and improving the equity incentive coverage rate [77][78]. 3.3 Index Valuation - The valuations of the SSE 50 and CSI 300 indexes are not high, while the valuations of the CSI 500 and CSI 1000 indexes are at high levels. This is mainly because the macro - economy is still in the bottom - building process, and the low - interest - rate environment is more favorable to technology stocks [104]. - From a technical perspective, the index has emerged from a large bottom shock and is currently in the main rising wave. If the index continues to rise without an improvement in performance, it may trigger a deep correction. This bull market may experience three stages: confidence improvement and valuation increase, performance improvement, and a crazy bull market driven by retail investors [104]. 3.4 Seasonal Patterns of the A - share Market - The A - share market has seasonal patterns such as "poor in May, dismal in June, and a rebound in July". At the end of the year or the beginning of the next year, the style may shift. After the style shift, the market may continue to rise around the Spring Festival. In the late stage of the medium - term bull market, investors can switch from CSI 500 and CSI 1000 index futures to SSE 50 and CSI 300 index futures. After the medium - term market adjustment ends, they can first go long on CSI 500 and CSI 1000 index futures [105].

Core Viewpoint - CME Group plans to launch individual stock futures products in summer 2023, pending regulatory approval, covering over 50 leading U.S. stocks from indices like S&P 500, Nasdaq 100, and Russell 1000, including major companies such as Alphabet, Meta, Nvidia, and Tesla, with cash settlement features for flexibility and capital efficiency [1][2]. Group 1: Advantages of Individual Stock Futures - Capital efficiency is enhanced as the margin mechanism of futures contracts significantly reduces the capital required for positions, freeing up more liquidity compared to direct stock holdings or call options [2]. - Precision in hedging is achieved, allowing investors to target specific company stock price fluctuations, particularly useful during earnings seasons and industry policy changes [2]. - No physical delivery threshold is required due to the cash settlement mechanism, which benefits cross-border capital and quantitative strategy execution [2]. Group 2: Market Perspective - Tim McCourt, CME Group's global head of equity and foreign exchange products, stated that these contracts will provide a simpler and more cost-effective way to express views on individual stock movements, enabling market participants to gain exposure or hedge against potential price volatility without directly purchasing stocks [2].

Group 1 - The core viewpoint indicates that the Shanghai silver spot price on February 13 was quoted at 19822 yuan per kilogram, which is 40 yuan per kilogram higher than the futures main price of 19782 yuan per kilogram, reflecting a premium in the spot market [3] - The U.S. January employment data showed strong performance, which may influence market expectations regarding Federal Reserve policies [3] - Treasury Secretary Bessent supports the Senate taking over the investigation into Powell rather than the Justice Department, indicating a shift in political dynamics that could impact market sentiment [3] Group 2 - The strengthening of the U.S. dollar index, influenced by signals from Russian President Putin regarding a return to the dollar system, may put pressure on precious metal prices [3] - Despite potential short-term pressures, the expectation of a rate cut by the Federal Reserve in June, as indicated by Bessent, along with ongoing purchases of gold by multiple central banks, may support precious metal prices in the medium to long term [3]

上海期货交易所指定交割仓库期货2月13日仓单日报显示，白银期货总计353559千克，今日仓单较上一 日增加3926千克。 沪银主力走势震荡偏弱，今日白银期货开盘报20400元/千克，最高触及20819元/千克，最低触及18930 元/千克，截止收盘报19782元/千克，下跌5.52%。 | 地区 | 仓库 | 期货 | 增减 | | --- | --- | --- | --- | | 上海 | 中储吴淞 | 53806 | 0 | | | 外运华东虹桥 | 25466 | 0 | | | 中工美供应链 | 237259 | 3706 | | | 合计 | 316531 | 3706 | | 广东 | 深圳威豹 | 37028 | 220 | | 总计 | | 353559 | 3926 | 【基本面消息】 本周美国非农就业超预期，降息预期受到压制，市场等待今晚CPI数据。地缘前景仍存不确定性，短期 贵金属波动率逐渐下降，震荡等待驱动，保持观望。 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - This week, the US employment data significantly exceeded market expectations, suppressing the mid - year Fed rate - cut expectation. The first rate cut this year is postponed to the July FOMC meeting, causing a marginal weakening of market risk appetite and a collective oscillating correction in the precious metals market. The short - term trend of platinum and palladium may follow that of gold and silver. The core variable lies in the balance between the subsequent inflation rebound risk and the cooling trend of the employment market. If the slowdown in employment and inflation is further verified, platinum and palladium still have room to rise under the boost of their financial attributes [7]. - The EU's official postponement of the 2035 internal combustion engine ban at the end of last year and the simultaneous strengthening of vehicle exhaust emission standards have led to higher platinum loading intensity. Although the global passenger car sales have been moderately revised down due to recession concerns, the increasing penetration rate of hybrid and hydrogen - fuel - cell commercial vehicles may improve the medium - to - long - term demand curve for platinum. In the medium - to - long - term, the industrial fundamentals of platinum and palladium still dominate the trading rhythm. The uncertainty of South Africa's power supply and Russia's exports, combined with the implementation of the new vehicle emission policy, make platinum more resilient than palladium. The differentiation in the supply - demand pattern may continue to drive the "platinum - strong, palladium - weak" market [7]. 3. Summary by Relevant Catalogs 3.1 Week - to - Week Highlights Summary - The US January non - farm payrolls data showed an unexpected increase, but last year's data was also unexpectedly revised down, intensifying market divergence in interpreting the non - farm data. Fed officials still have differences in their recent statements, with some re - emphasizing the risk of inflation rebound. They will continue to follow a data - dependent path [7]. - The short - term trend of platinum and palladium may follow that of gold and silver. If the slowdown in employment and inflation is further verified, they have room to rise under financial - attribute support [7]. - The EU's new policies and the development of new - energy commercial vehicles may improve platinum's medium - to - long - term demand. The "platinum - strong, palladium - weak" market may continue due to the supply - demand pattern [7]. - The London platinum is expected to face resistance at $2200 and support at $2000; the London palladium may face resistance at $1800 and support at $1600. The Guangzhou Futures Exchange's platinum 2606 contract may trade in the range of 460 - 600 yuan/gram, and the palladium 2606 contract may trade in the range of 400 - 460 yuan/gram [7]. 3.2 Futures and Spot Markets - This week, the main platinum and palladium contracts on the Guangzhou Futures Exchange oscillated within a range. As of February 13, 2026, the palladium 2606 contract was at 416.80 yuan/gram, up 1.53% week - on - week; the platinum 2606 contract was at 523.80 yuan/gram, up 3.52% week - on - week [8][12]. - The net long positions of NYMEX platinum and palladium continued to diverge. As of February 3, 2026, the net long position of NYMEX platinum was 20,207 contracts, down 8.26% month - on - month; the net long position of NYMEX palladium was - 2,307 contracts, up 18.77% month - on - month [13][17]. - This week, the basis of the main platinum and palladium contracts on the Guangzhou Futures Exchange and the NYMEX weakened. As of February 12, 2026, the basis of the Guangzhou Futures Exchange's platinum contract was - 3.86 yuan/gram, and the palladium contract was - 20.05 yuan/gram; the NYMEX platinum basis was - 22.30 dollars/ounce, and the palladium basis was 52.50 dollars/ounce, showing a week - on - week weakening [18][20][27]. - This week, the NYMEX platinum and palladium inventories both decreased. As of February 12, 2026, the NYMEX platinum inventory was 583,369.21 ounces, down 9.76% month - on - month; the palladium inventory was 186,863.10 ounces, down 2.10% month - on - month [28][32]. - Platinum and gold prices showed a strong synchronicity, with platinum price fluctuations being more significant. The gold - platinum ratio declined this week [33]. 3.3 Industry Supply and Demand Situation - As of December 2025, the import and export volumes of platinum and palladium both increased [39]. - Since 2023, the demand for platinum and palladium in vehicle exhaust catalysts has been declining year by year. The total global demand for platinum and palladium has shown a mild slowdown [45][50]. - Due to geopolitical conflicts and power - supply disturbances, the global supply of platinum and palladium has decreased [55]. - The price differences between the domestic and foreign markets of platinum and palladium have shown a converging trend [59]. 3.4 Macroeconomic Data - This week, the US dollar index weakened slightly, and the 10 - year US Treasury real yield fell nearly 4% [63]. - This week, the 10Y - 2Y US Treasury yield spread narrowed, the CBOE gold volatility declined, and the S&P 500/London gold price ratio declined [67].

Group 1: Report Overview - Report Date: February 13, 2026 [2] - Report Type: Financial Options Daily Report - Report Theme: Market sentiment weakens, stock indexes fluctuate and decline Group 2: Investment Rating - No investment rating information is provided in the report. Group 3: Core Views - Today, all stock indexes opened low and closed sharply lower. The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 199.89 billion yuan, a decrease of 16.18 billion yuan from the previous day [3]. - Due to the approaching holiday, the demand for cash during the holiday is large, and the capital market has tightened. Coupled with concerns about the uncertainty of non - trading during the holiday, investors' willingness to leave the market temporarily has increased, resulting in a decline in trading volume [3]. - Today, silver prices dropped sharply, and overnight U.S. technology stocks corrected significantly, which led to a further weakening of market sentiment. Investors' risk appetite tends to be cautious and wait - and - see [3]. - However, the positive policy expectations and the continuous net inflow of incremental funds into the stock market remain unchanged. The core logic for the medium - to - long - term upward movement of stock indexes is still relatively solid [3]. - After the Spring Festival holiday, it will be close to the policy window period of the Two Sessions, and it is expected that positive policy expectations will increase [3]. - In general, stock indexes will mainly fluctuate within a range in the short term [3]. - For options, since the medium - to - long - term upward logic of stock indexes is relatively solid, a bull spread strategy can be maintained [3]. Group 4: Option Indicators Index and ETF Performance - On February 13, 2026, the 50ETF fell 1.49% to close at 3.114; the 300ETF (Shanghai Stock Exchange) fell 1.18% to close at 4.671; the 300ETF (Shenzhen Stock Exchange) fell 1.28% to close at 4.866; the CSI 300 Index fell 1.25% to close at 4660.41; the CSI 1000 Index fell 1.32% to close at 8204.83; the 500ETF (Shanghai Stock Exchange) fell 1.66% to close at 8.373; the 500ETF (Shenzhen Stock Exchange) fell 1.54% to close at 3.328; the ChiNext ETF fell 1.63% to close at 3.265; the Shenzhen 100ETF fell 1.12% to close at 3.443; the SSE 50 Index fell 1.47% to close at 3034.35; the STAR 50ETF fell 0.71% to close at 1.55; the E Fund STAR 50ETF fell 0.66% to close at 1.50 [5]. PCR Data - The trading volume PCR and position PCR data of various options on February 13, 2026, and the comparison with the previous trading day are provided, including 50ETF options, 300ETF options (Shanghai and Shenzhen), CSI 300 Index options, CSI 1000 Index options, 500ETF options (Shanghai and Shenzhen), ChiNext ETF options, Shenzhen 100ETF options, SSE 50 Index options, STAR 50ETF options, and E Fund STAR 50ETF options [6]. Implied Volatility and Historical Volatility - The implied volatility of at - the - money options in February 2026 and the 30 - day historical volatility of the underlying assets of various options are provided, including 50ETF options, 300ETF options (Shanghai and Shenzhen), CSI 300 Index options, CSI 1000 Index options, 500ETF options (Shanghai and Shenzhen), ChiNext ETF options, Shenzhen 100ETF options, SSE 50 Index options, STAR 50ETF options, and E Fund STAR 50ETF options [7][8]. Group 5: Related Charts - The report includes a series of charts related to various options, such as the trend, volatility, trading volume PCR, position PCR, implied volatility curve, and at - the - money implied volatility of different terms of 50ETF options, 300ETF options (Shanghai and Shenzhen), CSI 300 Index options, CSI 1000 Index options, 500ETF options (Shanghai and Shenzhen), ChiNext ETF options, Shenzhen 100ETF options, SSE 50 Index options, STAR 50ETF options, and E Fund STAR 50ETF options [9][20][24][38][44][58][71][84][97][110][123][134].