金融期权 2026-01-09 金融期权策略早报 | | 理 | | | | | --- | --- | --- | --- | --- | | 李立勤 李仁君 | 高级投研经 产业服务岗 | 从业资格号：F3074095 从业资格号： F03090207 | 交易咨询号：Z0017896 电话：0755-23375255 | 邮箱： lilq@wkqh.cn 邮箱： lirj@wkqh.cn | 金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为偏多上行的市场行情。 （2）金融期权波动性分析：金融期权隐含波动率下降至历史均值偏下水平。 （3）金融期权策略与建议：对于ETF期权来说，适合构建偏多头的卖方策略，认购期权牛市价差组合策略；对于股 指期权来说，适合构建偏多头的卖方策略、认购期权牛市价差组合策略和期权合成期货多头与期货空头做套利策略 。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | | ...

金融期权 2026-01-08 金融期权策略早报 | | 理 | | | | | --- | --- | --- | --- | --- | | 李立勤 李仁君 | 高级投研经 产业服务岗 | 从业资格号：F3074095 从业资格号： F03090207 | 交易咨询号：Z0017896 电话：0755-23375255 | 邮箱： lilq@wkqh.cn 邮箱： lirj@wkqh.cn | 金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为偏多上行的市场行情。 （2）金融期权波动性分析：金融期权隐含波动率下降至历史均值偏下水平。 （3）金融期权策略与建议：对于ETF期权来说，适合构建偏多头的卖方策略，认购期权牛市价差组合策略；对于股 指期权来说，适合构建偏多头的卖方策略、认购期权牛市价差组合策略和期权合成期货多头与期货空头做套利策略 。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | | ...

期货研究报告 今日各股指均震荡盘整。沪深京三市成交额 28815 亿元，较上日放量 493 亿元。政策面利好预期以及资金净流入趋势构成驱动股指上行的主要逻 辑。政策面，中央经济工作会议的政策逐渐进入落实阶段，政策利好预期持 续发酵。资金面，融资资金买入金额由假期前的 2200 亿元左右飙升至 3000 亿元左右，反应出杠杆资金的入市热情较高。股指已经突破前期震荡区间上 沿，由于政策面利好预期以及资金净流入趋势这两个主线逻辑不变，后续股 指大概率保持强势。总的来说，预计短期内股指震荡偏强运行。 投资咨询业务资格：证监许可【2011】1778 号 金融期权 | 日报 2026 年 1 月 7 日 金融期权 专业研究·创造价值 股市成交金额维持高位，股指震荡盘整 核心观点 期权方面，目前持仓量 PCR 与隐含波动率均有所回升，可以牛市价差 的思路对待。 （仅供参考，不构成任何投资建议） 邮箱：longaoming@bcqhgs.com 作者声明：本人具有中国期货 业协会授予的期货从业资格证 书，期货投资咨询资格证书， 本人承诺以勤勉的职业态度， 独立、客观地出具本报告。本 报告清晰准确地反映了本人的 研究观点。本人 ...

| | 理 | | | | | --- | --- | --- | --- | --- | | 李立勤 李仁君 | 高级投研经 产业服务岗 | 从业资格号：F3074095 从业资格号： F03090207 | 交易咨询号：Z0017896 电话：0755-23375255 | 邮箱： lilq@wkqh.cn 邮箱： lirj@wkqh.cn | 金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为偏多上行的市场行情。 （2）金融期权波动性分析：金融期权隐含波动率下降至历史均值偏下水平。 （3）金融期权策略与建议：对于ETF期权来说，适合构建偏多头的卖方策略，认购期权牛市价差组合策略；对于股 指期权来说，适合构建偏多头的卖方策略、认购期权牛市价差组合策略和期权合成期货多头与期货空头做套利策略 。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | （%） | (亿元) | （亿元 ...

期货研究报告 今日各股指均大幅上涨。沪深京三市成交额 28322 亿元，较上日放量 2650 亿元。假期后股市连续放量上涨，主要源自假期后市场流动性回流以 及政策利好预期持续升温。近期政策面指出要建设现代化产业体系，优化提 升传统产业，加快战略新兴产业集群发展，推动未来产业建设，相关产业链 的股票在政策利好预期推动下显著上涨。资金面方面，融资余额和融资买入 金额同步回升，融资余额超 2.5 万亿元，融资买入金额接近 3000 亿元，说 明杠杆资金入市意愿较强，市场情绪较为乐观。中长期来看，政策面利好预 期以及资金净流入趋势构成驱动股指上行的主要逻辑。随着 2026 年政策面 不断落实落细政策利好，以及资金面持续净流入，股市风险偏好将持续上 升。总的来说，预计短期内股指震荡偏强运行。 期权方面，目前持仓量 PCR 与隐含波动率均位于正常区间，以牛市价 差或者比例价差温和看涨的思路对待。 （仅供参考，不构成任何投资建议） 姓名：龙奥明 投资咨询业务资格：证监许可【2011】1778 号 金融期权 | 日报 2026 年 1 月 6 日 金融期权 专业研究·创造价值 风险偏好持续回升，股指大幅上涨 核心观点 宝城期 ...

金融期权 2026-01-06 金融期权策略早报 | | 理 | | | | | --- | --- | --- | --- | --- | | 李立勤 李仁君 | 高级投研经 产业服务岗 | 从业资格号：F3074095 从业资格号： F03090207 | 交易咨询号：Z0017896 电话：0755-23375255 | 邮箱： lilq@wkqh.cn 邮箱： lirj@wkqh.cn | 金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为偏多上行的市场行情。 （2）金融期权波动性分析：金融期权隐含波动率下降至历史均值偏下水平。 （3）金融期权策略与建议：对于ETF期权来说，适合构建偏多头的卖方策略，认购期权牛市价差组合策略；对于股 指期权来说，适合构建偏多头的卖方策略、认购期权牛市价差组合策略和期权合成期货多头与期货空头做套利策略 。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | | ...

金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为高位震荡上行的市场行情。 金融期权 2025-12-31 金融期权策略早报 | | 理 | | | | | --- | --- | --- | --- | --- | | 李立勤 李仁君 | 高级投研经 产业服务岗 | 从业资格号：F3074095 从业资格号： F03090207 | 交易咨询号：Z0017896 电话：0755-23375255 | 邮箱： lilq@wkqh.cn 邮箱： lirj@wkqh.cn | （2）金融期权波动性分析：金融期权隐含波动率下降至历史均值偏下水平。 （3）金融期权策略与建议：对于ETF期权来说，适合构建偏多头的卖方策略，认购期权牛市价差组合策略；对于股 指期权来说，适合构建偏多头的卖方策略、认购期权牛市价差组合策略和期权合成期货多头与期货空头做套利策略 。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The stock market, including the Shanghai Composite Index, large-cap blue-chip stocks, small and medium-cap stocks, and ChiNext stocks, shows a high-level oscillating upward trend [3]. - The implied volatility of financial options has declined to a level below the historical average [3]. - For ETF options, it is suitable to construct a bullish seller strategy and a bull spread combination strategy for call options. For index options, it is suitable to construct a bullish seller strategy, a bull spread combination strategy for call options, and an arbitrage strategy between synthetic long futures with options and short futures [3]. 3. Summary by Related Catalogs Financial Market Index Overview - The Shanghai Composite Index closed at 3,965.28, up 1.60 points or 0.04%, with a trading volume of 903.8 billion yuan [4]. - The Shenzhen Component Index closed at 13,537.10, down 66.80 points or 0.49%, with a trading volume of 1,235.5 billion yuan [4]. - The SSE 50 Index closed at 3,034.63, down 10.77 points or 0.35%, with a trading volume of 117.1 billion yuan [4]. - The CSI 300 Index closed at 4,639.37, down 17.87 points or 0.38%, with a trading volume of 482.6 billion yuan [4]. - The CSI 500 Index closed at 7,430.61, down 28.22 points or 0.38%, with a trading volume of 390.4 billion yuan [4]. - The CSI 1000 Index closed at 7,594.16, down 11.37 points or 0.15%, with a trading volume of 466.9 billion yuan [4]. ETF Market Overview - The SSE 50 ETF closed at 3.109, down 0.011 or 0.35%, with a trading volume of 4.8702 million shares and a turnover of 1.519 billion yuan [5]. - The SSE 300 ETF closed at 4.763, down 0.021 or 0.44%, with a trading volume of 8.5291 million shares and a turnover of 4.070 billion yuan [5]. - The SSE 500 ETF closed at 7.548, down 0.032 or 0.42%, with a trading volume of 3.3780 million shares and a turnover of 2.559 billion yuan [5]. - The Huaxia Science and Technology Innovation 50 ETF closed at 1.417, down 0.002 or 0.14%, with a trading volume of 25.7752 million shares and a turnover of 3.675 billion yuan [5]. - The E Fund Science and Technology Innovation 50 ETF closed at 1.373, down 0.001 or 0.07%, with a trading volume of 6.8515 million shares and a turnover of 0.946 billion yuan [5]. - The Shenzhen 300 ETF closed at 4.838, down 0.022 or 0.45%, with a trading volume of 2.2579 million shares and a turnover of 1.095 billion yuan [5]. - The Shenzhen 500 ETF closed at 2.979, down 0.012 or 0.40%, with a trading volume of 1.0772 million shares and a turnover of 0.322 billion yuan [5]. - The Shenzhen 100 ETF closed at 3.470, down 0.015 or 0.43%, with a trading volume of 0.7215 million shares and a turnover of 0.251 billion yuan [5]. - The ChiNext ETF closed at 3.205, down 0.021 or 0.65%, with a trading volume of 9.5207 million shares and a turnover of 3.056 billion yuan [5]. Option Factor - Volume and Open Interest PCR - For the SSE 50 ETF option, the volume PCR was 0.96, up 0.08, and the open interest PCR was 0.94, down 0.04 [6]. - For the SSE 300 ETF option, the volume PCR was 0.89, up 0.22, and the open interest PCR was 0.92, down 0.04 [6]. - For the SSE 500 ETF option, the volume PCR was 0.83, down 0.01, and the open interest PCR was 1.05, down 0.03 [6]. - For the Huaxia Science and Technology Innovation 50 ETF option, the volume PCR was 0.56, up 0.02, and the open interest PCR was 0.79, down 0.02 [6]. - For the E Fund Science and Technology Innovation 50 ETF option, the volume PCR was 0.75, up 0.26, and the open interest PCR was 0.88, down 0.02 [6]. - For the Shenzhen 300 ETF option, the volume PCR was 0.92, up 0.21, and the open interest PCR was 0.96, down 0.01 [6]. - For the Shenzhen 500 ETF option, the volume PCR was 1.04, up 0.25, and the open interest PCR was 1.07, up 0.03 [6]. - For the Shenzhen 100 ETF option, the volume PCR was 2.34, up 0.91, and the open interest PCR was 1.55, up 0.19 [6]. - For the ChiNext ETF option, the volume PCR was 0.86, up 0.05, and the open interest PCR was 1.07, down 0.05 [6]. - For the SSE 50 index option, the volume PCR was 0.52, up 0.08, and the open interest PCR was 0.69, unchanged [6]. - For the CSI 300 index option, the volume PCR was 0.54, up 0.03, and the open interest PCR was 0.71, unchanged [6]. - For the CSI 1000 index option, the volume PCR was 0.66, up 0.02, and the open interest PCR was 0.98, unchanged [6]. Option Factor - Pressure and Support Levels - For the SSE 50 ETF option, the pressure level was 3.20, and the support level was 3.00 [8]. - For the SSE 300 ETF option, the pressure level was 4.80, and the support level was 4.70 [8]. - For the SSE 500 ETF option, the pressure level was 7.50, and the support level was 7.25 [8]. - For the Huaxia Science and Technology Innovation 50 ETF option, the pressure level was 1.45, and the support level was 1.40 [8]. - For the E Fund Science and Technology Innovation 50 ETF option, the pressure level was 1.50, and the support level was 1.30 [8]. - For the Shenzhen 300 ETF option, the pressure level was 4.90, and the support level was 4.80 [8]. - For the Shenzhen 500 ETF option, the pressure level was 3.00, and the support level was 2.90 [8]. - For the Shenzhen 100 ETF option, the pressure level was 3.50, and the support level was 3.40 [8]. - For the ChiNext ETF option, the pressure level was 3.20, and the support level was 3.10 [8]. - For the SSE 50 index option, the pressure level was 3,100, and the support level was 3,000 [8]. - For the CSI 300 index option, the pressure level was 4,700, and the support level was 4,600 [8]. - For the CSI 1000 index option, the pressure level was 7,600, and the support level was 7,300 [8]. Option Factor - Implied Volatility - For the SSE 50 ETF option, the at-the-money implied volatility was 13.35%, the weighted implied volatility was 13.36%, down 0.27% [11]. - For the SSE 300 ETF option, the at-the-money implied volatility was 15.43%, the weighted implied volatility was 15.05%, down 0.12% [11]. - For the SSE 500 ETF option, the at-the-money implied volatility was 19.30%, the weighted implied volatility was 19.51%, up 0.15% [11]. - For the Huaxia Science and Technology Innovation 50 ETF option, the at-the-money implied volatility was 27.51%, the weighted implied volatility was 27.14%, up 0.88% [11]. - For the E Fund Science and Technology Innovation 50 ETF option, the at-the-money implied volatility was 27.37%, the weighted implied volatility was 28.03%, up 0.48% [11]. - For the Shenzhen 300 ETF option, the at-the-money implied volatility was 15.51%, the weighted implied volatility was 18.62%, up 1.73% [11]. - For the Shenzhen 500 ETF option, the at-the-money implied volatility was 19.41%, the weighted implied volatility was 19.95%, up 0.77% [11]. - For the Shenzhen 100 ETF option, the at-the-money implied volatility was 19.83%, the weighted implied volatility was 21.21%, down 0.11% [11]. - For the ChiNext ETF option, the at-the-money implied volatility was 26.80%, the weighted implied volatility was 26.69%, up 0.40% [11]. - For the SSE 50 index option, the at-the-money implied volatility was 13.69%, the weighted implied volatility was 14.20%, down 0.36% [11]. - For the CSI 300 index option, the at-the-money implied volatility was 15.88%, the weighted implied volatility was 15.57%, down 0.04% [11]. - For the CSI 1000 index option, the at-the-money implied volatility was 20.07%, the weighted implied volatility was 20.23%, up 0.57% [11]. Strategy and Recommendations - **Financial Stocks Sector (SSE 50 ETF)**: - The SSE 50 ETF showed a high-level oscillating and consolidating trend. - The implied volatility of the SSE 50 ETF option remained at a relatively low level. - The open interest PCR of the SSE 50 ETF option was around 1.00, indicating oscillation. - The pressure level was 3.20, and the support level was 3.00. - Strategies: Construct a neutral seller combination strategy; implement a covered call strategy by holding the SSE 50 ETF and selling call options [14]. - **Large-Cap Blue-Chip Stocks Sector (SSE 300 ETF)**: - The SSE 300 ETF showed a rebound after a decline. - The implied volatility of the SSE 300 ETF option remained at a relatively low level. - The open interest PCR of the SSE 300 ETF option was around 1.00, indicating a weak oscillation. - The pressure level was 4.80, and the support level was 4.70. - Strategies: Construct a short volatility strategy by selling call and put options; implement a covered call strategy by holding the SSE 300 ETF and selling call options [14]. - **Small and Medium-Cap Stocks Sector (SSE 500 ETF)**: - The SSE 500 ETF showed a rebound and then a decline. - The implied volatility of the SSE 500 ETF option remained below the historical average. - The open interest PCR of the SSE 500 ETF option was above 1.00, indicating an oscillating trend. - The pressure level was 7.50, and the support level was 7.00. - Strategies: Construct a short volatility strategy by selling call and put options; implement a covered call strategy by holding the SSE 500 ETF and selling call options [15]. - **Large and Medium-Sized Stocks Sector (Shenzhen 100 ETF)**: - The Shenzhen 100 ETF showed a bullish high-level oscillation and then a decline. - The implied volatility of the Shenzhen 100 ETF option fluctuated around the average level. - The open interest PCR of the Shenzhen 100 ETF option was above 1.00, indicating a bullish oscillating and declining trend. - The pressure level was 3.40, and the support level was 3.30. - Strategies: Construct a short volatility strategy by selling call and put options; implement a covered call strategy by holding the Shenzhen 100 ETF and selling call options [15]. - **ChiNext Sector (ChiNext ETF)**: - The ChiNext ETF showed a bullish high-level oscillation. - The implied volatility of the ChiNext ETF option remained at a relatively high level. - The open interest PCR of the ChiNext ETF option was above 1.00, indicating a strengthening trend. - The pressure level was 3.20, and the support level was 3.00. - Strategies: Construct a short volatility strategy; implement a covered call strategy by holding the ChiNext ETF and selling call options [16]. - **Small and Medium-Cap Stocks Sector (CSI 1000)**: - The CSI 1000 index showed a high-level decline and then an oscillation. - The implied volatility of the CSI 1000 index option fluctuated below the average level. - The open interest PCR of the CSI 1000 index option was around 0.90, indicating a weak oscillating trend. - The pressure level was 7,400, and the support level was 7,000. - Strategies: Construct a short volatility strategy by selling call and put options and dynamically adjust the position to keep the delta negative [16].

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - The stock market shows a high - level volatile upward trend, with the Shanghai Composite Index, large - cap blue - chip stocks, small - and medium - cap stocks, and ChiNext stocks all experiencing such a market condition [3]. - The implied volatility of financial options has dropped to a level below the historical average [3]. - For ETF options, it is suitable to construct a partial - long seller strategy and a bull spread combination strategy of call options; for index options, in addition to the above strategies, an arbitrage strategy of synthetic long futures with options and short futures can also be constructed [3]. 3. Summary According to Related Catalogs Financial Market Index Overview - The closing prices of major indices such as the Shanghai Composite Index (3,963.68), Shenzhen Component Index (13,603.89), and Shanghai 50 Index (3,045.40) are presented, along with their corresponding changes and trading volumes [4]. Option - related Data Option - Based ETF Market Overview - Data on multiple ETF options including the Shanghai 50ETF, Shanghai 300ETF, etc., such as closing prices, changes, trading volumes, and trading amounts are provided [5]. Option Factor - Volume and Position PCR - Volume and position PCR data of various option varieties are given, which can be used to analyze market trends and turning points [6][7]. Option Factor - Pressure and Support Points - Pressure and support points of different option varieties are identified from the exercise prices of the maximum open interest of call and put options [8][10]. Option Factor - Implied Volatility - Implied volatility data of different option varieties, including at - the - money implied volatility and weighted implied volatility, are presented, providing a basis for analyzing market volatility [11][12]. Strategy and Recommendations Sector Classification - The financial option sector is divided into large - cap blue - chip stocks, small - and medium - sized boards, and the ChiNext board, with specific ETFs and indices assigned to each sector [13]. Strategy for Each Sector - For different sectors such as the financial stock sector (Shanghai 50ETF), large - cap blue - chip stock sector (Shanghai 300ETF), etc., strategies including directional strategies, volatility strategies, and spot long - covered strategies are proposed based on the analysis of underlying market conditions, option factors [14][15][16]. Option Charts - Option charts of various varieties such as the Shanghai 50ETF, Shanghai 300ETF, etc., including price trends, trading volume and open interest distributions, PCR trends, and implied volatility trends, are provided to visually present market conditions [17][33][48][67][83][99].

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - On December 26, 2025, stock indices oscillated upwards with the total stock market turnover reaching 2160.3 billion yuan, an increase of 216.5 billion yuan from the previous day. The recent increase in trading volume and consecutive rise of stock indices indicate a continuous recovery of market risk appetite. As the new year approaches, positive policy expectations are gradually fermenting. With the appreciation of the RMB, a large amount of relatively high - interest time deposits will mature next year, and their "re - allocation" may bring a large influx of incremental funds into the stock market. The positive policy expectations and the net capital inflow trend together form the medium - and long - term support for stock indices. As the stock indices approach the previous high, short - term attention should be paid to whether they can break through the technical resistance of the previous high. In general, the bullish factors are continuously fermenting, and the stock indices are expected to be oscillating strongly in the short term. For options, since the current position PCR and implied volatility are both in the normal range, a bull spread or ratio spread strategy with a mild bullish view can be adopted [3] 3. Summary by Relevant Catalogs 3.1 Option Indicators - **ETF and Index Performance**: On December 26, 2025, the 50ETF rose 0.42% to 3.120; the 300ETF (Shanghai Stock Exchange) rose 0.38% to 4.784; the 300ETF (Shenzhen Stock Exchange) rose 0.41% to 4.860; the CSI 300 Index rose 0.32% to 4657.24; the CSI 1000 Index rose 0.35% to 7605.53; the 500ETF (Shanghai Stock Exchange) rose 0.61% to 7.580; the 500ETF (Shenzhen Stock Exchange) rose 0.57% to 2.991; the GEM ETF rose 0.12% to 3.226; the SZSE 100ETF rose 0.29% to 3.485; the SSE 50 Index rose 0.41% to 3045.40; the STAR 50ETF fell 0.21% to 1.42; the E Fund STAR 50ETF fell 0.15% to 1.37 [5] - **Volume PCR and Position PCR**: The volume PCR and position PCR of various options on December 26, 2025, showed different changes compared with the previous trading day. For example, the volume PCR of SSE 50ETF options was 87.56 (previous day: 112.71), and the position PCR was 97.69 (previous day: 96.89) [6] - **Implied Volatility and Historical Volatility**: The implied volatility and 30 - day historical volatility of 2026 January at - the - money options of various options were reported. For instance, the implied volatility of SSE 50ETF options was 11.49%, and the 30 - day historical volatility of the underlying was 10.75% [7] 3.2 Relevant Charts - **SSE 50ETF Options**: The report includes charts of the SSE 50ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [9][11][13] - **SSE 300ETF Options**: Charts of the SSE 300ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms are presented [21][23][25] - **SZSE 300ETF Options**: There are charts of the SZSE 300ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [34][36][38] - **CSI 300 Index Options**: The report provides charts of the CSI 300 index trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [46][48][49] - **CSI 1000 Index Options**: Charts of the CSI 1000 index trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms are included [54][57][59] - **SSE 500ETF Options**: The relevant charts cover the SSE 500ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [65][67][69] - **SZSE 500ETF Options**: There are charts of the SZSE 500ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [78][80][82] - **GEM ETF Options**: The report shows charts of the GEM ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [91][92][93] - **SZSE 100ETF Options**: Charts of the SZSE 100ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms are provided [104][106][108] - **SSE 50 Index Options**: The relevant charts include the SSE 50 index trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [116][118][120] - **STAR 50ETF Options**: There are charts of the STAR 50ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [129][131][132] - **E Fund STAR 50ETF Options**: The report presents charts of the E Fund STAR 50ETF trend, option volatility, volume PCR, position PCR, implied volatility curve, and implied volatility of at - the - money options for different terms [137][139][141]