商品期权日报(2026 年 03 月 19 日) 表 1：期权行情 | | 看涨期权 | 看跌期权 | | | --- | --- | --- | --- | | 品种 | 日涨跌幅 | 品种 | 日涨跌幅 | | 沥青 | 56.14% | 锌 | 86.17% | | 鸡蛋 | 25.20% | 胶版印刷纸 | 79.69% | | 甲醇 | 12.75% | 红枣 | 73.94% | | 铅 | 11.29% | 硅铁 | 65.77% | | 乙二醇 | -5.88% | 工业硅 | 52.49% | | 原木 | -7.06% | 多晶硅 | 51.40% | | 玉米 | -10.00% | 生猪 | 37.50% | | 聚丙烯 | -10.81% | 纯碱 | 34.88% | | 胶版印刷纸 | -10.81% | 白糖 | 32.86% | | 氧化铝 | -14.56% | 天然橡胶 | 31.79% | | | 看涨期权 | 看跌期权 | | | --- | --- | --- | --- | | 品种 | 日涨跌幅 | 品种 | 日涨跌幅 | | 沥青 | 56.14% | 锌 | ...

新能源期权 2026/03/19 新能源期权早报 李立勤 投研高级经理 黄柯涵 期权研究员 从业资格号: F3074095 从业资格号：F03138607 交易咨询号: Z0017896 邮箱：lilq@wkqh.cn 邮箱：huangkh@wkqh.cn | 期权品种 | 标的合约 | 量新价 | 标的涨跌 | 涨跌幅 | 成交量 (万手) | 量变化 | 持仓量 (万手 | 合变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | LC（碳酸锂期权） | LC2605 | 150120 | -6960 | -4.43% | 205889 | 32450 | 307422 | -1420 | | 期权因子-量仓PCR | 期权品种 | 成交量 | 量变化 | 持仓量 | 仓变化 | 成交量PCR | 量PCR变化 | 持仓量PCR | 仓PCR变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | LC（碳酸锂看涨期权） | 85747 | 16337 | 126843 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The report presents data on commodity option daily market, including option price changes, position changes, put - call ratios of positions and trading volumes, daily option selections, and information on near - expiration options [1][2][5][6][7][8] 3. Summary by Relevant Catalogs Option Price Changes - Among call options, lead had the highest daily increase of 85.52%, followed by alumina (37.79%), manganese silicon (30.71%), etc. Among put options, pulp had the highest daily increase of 65.62%, followed by offset printing paper (61.90%), zinc (43.77%), etc [1] Option Position Changes - For call options, sugar had the largest daily position change of 16314, followed by corn (15329), fuel oil (15196), etc. For put options, methanol had the largest daily position change of 16448, followed by cotton (10035), asphalt (9572), etc [2] Option Position Put - Call Ratio (PCR) - High - position PCR varieties included p - xylene (1.9066), fuel oil (1.6502), apple (1.5912), etc. Low - position PCR varieties included live pigs (0.2179), red dates (0.2275), coking coal (0.3493), etc [5] Option Trading Volume Put - Call Ratio (PCR) - High - trading - volume PCR varieties included short - fiber (2.0144), propylene (1.8318), soybean No.2 (1.1925), etc. Low - trading - volume PCR varieties included logs (0.132), red dates (0.1439), alumina (0.2123), etc [6] Daily Option Selections - Call option selections included iron ore, alumina, manganese silicon, etc. Put option selections included gold, zinc, live pigs, etc [7] Near - Expiration Options - For call options, fuel oil, SSE 50, CSI 300, and CSI 1000 options were listed. For put options, fuel oil, SSE 50, CSI 300, and CSI 1000 options were also listed, along with information on remaining days, option closing prices, underlying settlement prices, break - even points, and option doubling points [8]

Report Industry Investment Rating - No information provided Core Viewpoints - The report analyzes the market data, option factors, and provides strategy suggestions for LC (lithium carbonate), PS (polysilicon), and SI (industrial silicon) options [7][18][30] Summary by Related Catalogs LC (Lithium Carbonate) - **Market Data**: LC2605 contract closed at 155,320 yuan, up 600 yuan (0.38%) from the previous day. Volume was 173,439 lots (down 58,374 lots), and open interest was 308,842 lots (down 1,841 lots) [4][7] - **Option Factors**: Implied volatility fluctuated above the mean of 0.4586. The open interest PCR was 0.8934, at the 74.29% level in the past year. The pressure level was 208,000 yuan, and the support level was 100,000 yuan [7] - **Strategy Suggestions**: No directional strategy. For volatility strategy, construct a neutral short call + put option combination to obtain time value, and adjust positions dynamically to keep delta neutral, e.g., S_LC2605P144000, S_LC2605P15000, S_LC2605C176000, S_LC2605C180000 [8] PS (Polysilicon) - **Market Data**: PS2605 contract closed at 41,670 yuan, down 380 yuan (0.90%) from the previous day. Volume was 8,268 lots (up 2,412 lots), and open interest was 34,098 lots (down 549 lots) [15][18] - **Option Factors**: Implied volatility fluctuated above the mean of 0.4415. The open interest PCR was 0.4684, at the 0.00% level in the past year. The pressure level was 70,000 yuan, and the support level was 35,000 yuan [18] - **Strategy Suggestions**: No directional strategy. For volatility strategy, construct a short call + put option combination to obtain time value, and adjust positions dynamically to keep delta neutral, e.g., S_PS2605P43000, S_PS2605C47000 [19] SI (Industrial Silicon) - **Market Data**: SI2605 contract closed at 8,560 yuan, down 150 yuan (1.72%) from the previous day. Volume was 126,193 lots (up 22,104 lots), and open interest was 240,719 lots (up 4,057 lots) [27][30] - **Option Factors**: Implied volatility fluctuated above the mean of 0.3142. The open interest PCR was 0.4287, at the 34.69% level in the past year. The pressure level was 11,000 yuan, and the support level was 8,000 yuan [30] - **Strategy Suggestions**: No directional strategy. For volatility strategy, construct a short call + put option combination to obtain time value and directional returns, and adjust positions dynamically to keep delta neutral, e.g., S_SI2605P8000, S_SI2605P8200, S_SI2605C8800, S_SI2605C9000 [31]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The report analyzes the market conditions of three new - energy option varieties: lithium carbonate (LC), polysilicon (PS), and industrial silicon (SI), including their futures market data, option factors, and provides corresponding option strategy suggestions [7][18][31]. 3. Summary by Related Catalogs Lithium Carbonate (LC) - **Futures Market Data**: The LC2605 contract closed at 159,620 yuan yesterday, up 2,740 yuan (1.74%) from the previous day. The trading volume was 231,813 lots, a decrease of 56,759 lots, and the open interest was 310,683 lots, a decrease of 6,281 lots [4][7]. - **Option Factors**: - **Volume - Open Interest PCR**: For LC call options, the trading volume was 91,668, a decrease of 15,431; the open interest was 121,646, an increase of 3,643. The volume PCR was 0.78 (with a change of 0.18), and the open - interest PCR was 0.89 (with a change of 0.01). For LC put options, the trading volume was 71,199, an increase of 7,134; the open interest was 108,067, an increase of 4,284 [5]. - **Pressure - Support**: The implied volatility of LC options fluctuated above the mean of 0.4566. The option's open - interest PCR was 0.8884, at the 73.47% level in the past year. The pressure level of the LC option underlying was 208,000, and the support level was 100,000 [7]. - **Option Strategy Suggestions**: - **Directional Strategy**: None. - **Volatility Strategy**: Construct a neutral - biased short call + put option combination strategy to obtain option time value. Dynamically adjust positions to keep the delta of the positions neutral. Examples are S_LC2605P144000, S_C23605P15000, S_LC2605C176000, S_LC2605C180000 [8]. Polysilicon (PS) - **Futures Market Data**: The PS2605 contract closed at 41,705 yuan yesterday, down 1,750 yuan (4.02%) from the previous day. The trading volume was 5,856 lots, a decrease of 7,021 lots, and the open interest was 34,647 lots, an increase of 190 lots [15][18]. - **Option Factors**: - **Volume - Open Interest PCR**: For PS call options, the trading volume was 9,735, a decrease of 20,835; the open interest was 35,364, an increase of 1,080. The volume PCR was 0.26 (with a change of 0.15), and the open - interest PCR was 0.47 (with a change of - 0.01). For PS put options, the trading volume was 2,570, a decrease of 1,050; the open interest was 16,730, an increase of 307 [16]. - **Pressure - Support**: The implied volatility of PS options fluctuated above the mean of 0.4394. The option's open - interest PCR was 0.4731, at the 0.00% level in the past year. The pressure level of the PS option underlying was 70,000, and the support level was 35,000 [17][18]. - **Option Strategy Suggestions**: - **Directional Strategy**: None. - **Volatility Strategy**: Construct a short call + put option combination strategy to obtain option time - value returns. Dynamically adjust positions to keep the delta of the positions neutral. Examples are S_PS2605P40000, S_PS2605C45000 [19]. Industrial Silicon (SI) - **Futures Market Data**: The SI2605 contract closed at 8,685 yuan yesterday, down 20 yuan (0.22%) from the previous day. The trading volume was 104,089 lots, a decrease of 26,908 lots, and the open interest was 236,662 lots, a decrease of 1,623 lots [28][31]. - **Option Factors**: - **Volume - Open Interest PCR**: For SI call options, the trading volume was 35,741, a decrease of 9,955; the open interest was 83,577, an increase of 4,399. The volume PCR was 0.2 (with a change of - 0.04), and the open - interest PCR was 0.43 (with a change of - 0.02). For SI put options, the trading volume was 7,280, a decrease of 3,679; the open interest was 35,902, an increase of 415 [29]. - **Pressure - Support**: The implied volatility of SI options fluctuated above the mean of 0.3137. The option's open - interest PCR was 0.4296, at the 35.10% level in the past year. The pressure level of the SI option underlying was 11,000, and the support level was 8,000 [30][31]. - **Option Strategy Suggestions**: - **Directional Strategy**: None. - **Volatility Strategy**: Construct a dynamic short call + put option combination strategy to obtain option time value and directional returns. Dynamically adjust positions to keep the delta of the positions neutral. Examples are S_SL2605P8000, S_SI2605P8200, S_SI2605C8800, S_SI2605C9000 [32].

1. Market Overview - The trading volume of the market this week was 11,521,370.6, with a week - on - week increase of 0.51%, and the open interest was 8,953,943, with a week - on - week decrease of 0.01% [4]. - The trading volume of agricultural products this week was 2,487,110.4, with a week - on - week increase of 2.76%, and the open interest was 3,248,462, with a week - on - week increase of 0.16% [4]. - The trading volume of energy and chemical products this week was 7,108,318.2, with a week - on - week increase of 0.61%, and the open interest was 3,498,076, with a week - on - week decrease of 0.15% [4]. - The trading volume of black commodities this week was 531,268.4, with a week - on - week increase of 1.04%, and the open interest was 825,749, with a week - on - week decrease of 0.05% [4]. - The trading volume of precious metals this week was 325,839.8, with a week - on - week decrease of 1.22%, and the open interest was 341,823, with a week - on - week increase of 0.05% [4]. - The trading volume of non - ferrous metals and new energy products this week was 1,068,833.8, with a week - on - week decrease of 1.45%, and the open interest was 1,039,833, with a week - on - week increase of 0.14% [4]. 2. Market Data 2.1 Market Overview - The report provides the implied volatility, quantile, and skew of various commodity options, such as the implied volatility of corn options was 15.72%, and the skew was 47.0% [5]. 2.2 - 2.61 Option Data of Each Commodity - For each commodity option (such as corn, soybean meal, etc.), the report details the closing price, trading volume, open interest, volume PCR, open interest PCR, implied volatility, HV - 10 days, HV - 20 days, and skew of the main and secondary contracts, as well as the overall contract data [6][7][8]...[65].

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The report analyzes the market data, option factors, and provides strategy suggestions for LC (lithium carbonate), PS (polysilicon), and SI (industrial silicon) options [4][16][29] - The prices of LC2605, PS2605, and SI2605 contracts all decreased compared to the previous day, with varying degrees of decline and changes in trading volume and open interest [7][19][32] - The implied volatility of all three types of options fluctuates above the annual average level [7][19][32] - For all three types of options, no directional strategy is recommended, and volatility strategies mainly involve constructing short call + put option combination strategies to obtain option time value and maintain a neutral delta position [8][20][33] Summary by Relevant Catalogs 1. LC (Lithium Carbonate) Options 1.1.标的期货市场数据 - LC2605 contract closed at 152,080 yuan yesterday, down 4,060 yuan or 2.60% from the previous day, with a trading volume of 288,572 lots (an increase of 68,744 lots) and an open interest of 316,964 lots (a decrease of 8,418 lots) [4][7] 1.2. Option Factors - Volume and Open Interest PCR - The trading volume of LC (lithium carbonate call options) was 107,099 lots (an increase of 34,397 lots), and the open interest was 118,003 lots (an increase of 5,038 lots). The trading volume PCR was 0.6 (a decrease of 0.21), and the open interest PCR was 0.88 (a decrease of 0.01) [5] 1.3. Option Factors - Pressure and Support - The flat - strike price of LC (lithium carbonate options) was 152,000, the resistance level was 208,000, the support level was 100,000, the weighted implied volatility was 81.75% (an increase of 4.40%), the annual average implied volatility was 45.45%, and HISV20 was 77.83% [6] 1.4.行情解读与策略建议 - The implied volatility of LC (lithium carbonate options) fluctuates above the average of 0.4545. The open interest PCR of LC options was reported at 0.8795, at the 73.06% level in the past year [7] - No directional strategy is recommended. For the volatility strategy, construct a short call + put option combination strategy to obtain option time value and dynamically adjust the position to keep the delta neutral. Examples include S_LC2605P144000, S_LC2605P15000, S_LC2605C176000, and S_LC2605C180000 [8] 2. PS (Polysilicon) Options 2.1.标的期货市场数据 - PS2605 contract closed at 42,040 yuan yesterday, down 875 yuan or 2.03% from the previous day, with a trading volume of 12,877 lots (an increase of 8,233 lots) and an open interest of 34,457 lots (an increase of 193 lots) [16][19] 2.2. Option Factors - Volume and Open Interest PCR - The trading volume of PS (polysilicon call options) was 30,570 lots (an increase of 22,530 lots), and the open interest was 34,284 lots (an increase of 3,344 lots). The trading volume PCR was 0.12 (a decrease of 0.13), and the open interest PCR was 0.48 (a decrease of 0.04) [17] 2.3. Option Factors - Pressure and Support - The flat - strike price of PS (polysilicon options) was 12,000, the resistance level was 70,000, the support level was 35,000, the weighted implied volatility was 31.94%, and the annual average implied volatility was 43.72% [18][19] 2.4.行情解读与策略建议 - The implied volatility of PS (polysilicon options) fluctuates above the average of 0.4372. The open interest PCR of PS options was reported at 0.479, at the 0.00% level in the past year [19] - No directional strategy is recommended. For the volatility strategy, construct a short call + put option combination strategy to obtain option time value and dynamically adjust the position to keep the delta neutral. Examples include S_PS2605P40000 and S_PS2605C45000 [20] 3. SI (Industrial Silicon) Options 3.1.标的期货市场数据 - SI2605 contract closed at 8,675 yuan yesterday, down 10 yuan or 0.11% from the previous day, with a trading volume of 130,997 lots (a decrease of 37,724 lots) and an open interest of 238,285 lots (a decrease of 7,038 lots) [29][32] 3.2. Option Factors - Volume and Open Interest PCR - The trading volume of SI (industrial silicon call options) was 45,696 lots (a decrease of 10,531 lots), and the open interest was 79,178 lots (an increase of 6,183 lots). The trading volume PCR was 0.24 (an increase of 0.01), and the open interest PCR was 0.45 (a decrease of 0.01) [30] 3.3. Option Factors - Pressure and Support - The flat - strike price of SI (industrial silicon options) was 8,700, the resistance level was 11,000, the support level was 8,000, the weighted implied volatility was 33.65% (a decrease of 0.85%), the annual average implied volatility was 31.31%, and HISV20 was 19.86% [31] 3.4.行情解读与策略建议 - The implied volatility of SI (industrial silicon options) fluctuates above the average of 0.3131. The open interest PCR of SI options was reported at 0.4482, at the 45.71% level in the past year [32] - No directional strategy is recommended. For the volatility strategy, construct a short call + put option combination strategy to obtain option time value and directional returns, and dynamically adjust the position to keep the delta neutral. Examples include S_SI2605P8000, S_SI2605P8200, S_SI2605C8800, and S_SI2605C9000 [33]

2026/03/13 新能源期权 新能源期权早报 李立勤 投研高级经理 黄柯涵 期权研究员 从业资格号: F3074095 从业资格号：F03138607 交易咨询号: Z0017896 邮箱：lilq@wkqh.cn 邮箱：huangkh@wkqh.cn 电话: 0755-23375252 碳酸锂 (LC) - 市场数据与策略建议 2026-03-13 ▌标的期货市场数据 | 2017 11 11 | | | | FIAND IN | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | THE FORT FOR | | | | | | （碳酸锌相机）。 | C2605 | 156980 | OCO 1000 | .78% | 219828 | 7510 | 325382 | -5054 | | | | | | | | | | | | 期权因子-量仓PCR | 期权品种 | 成交量 - | 量变化 | 持仓量 | 合変化 | 成交量PCR | 量PCR变化 | 持仓量PCR | 仓PCR变化 | | --- | - ...

新能源期权 2026/03/12 邮箱：huangkh@wkqh.cn 电话: 0755-23375252 碳酸锂 (LC) - 市场数据与策略建议 2026-03-12 ▌标的期货市场数据 | 期权品种 | 标的合约 | ERE/ EF-R-BIRNI | 标的涨跌 | 涨跌幅 | 成交量 (万手) | | 持仓量(万手) | 合变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | LC（碳酸锂期权） | LC2605 | 155040 | -8400 | -5.13% | 267346 | 41073 | 330436 | -2081 | 新能源期权早报 李立勤 投研高级经理 黄柯涵 期权研究员 从业资格号: F3074095 从业资格号：F03138607 交易咨询号: Z0017896 邮箱：lilq@wkqh.cn | 期权因子-量仓PCR | 期权品种 | 成交量 | 量变化 | 持仓量 | 仓变化 | 成交量PCR | 量PCR变化 | 持仓量PCR | 仓PCR变化 | | --- | --- | --- | --- | ...

新能源期权 2026/03/03 新能源期权早报 李立勤 投研高级经理 黄柯涵 期权研究员 从业资格号: F3074095 从业资格号：F03138607 交易咨询号: Z0017896 邮箱：lilq@wkqh.cn 邮箱：huangkh@wkqh.cn 电话: 0755-23375252 碳酸锂 (LC) - 市场数据与策略建议 2026-03-03 ▌标的期货市场数据 | | | | | STATUTE | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | III A L P L C L B . | | | K7 H L | | | LC (碳酸锂期权) | C2605 | 172020 | ﺍﻟﻤﻌﺎ | -0.95% | 227061 | 1919 | 378336 | 2716 -5216 | | | | | | | | | | | | 期权因子-量仓PCR | 期权品种 | 成交量 | 量変化 | 持仓量 | 仓变化 | 成交量PCR | 量PCR变化 | 持仓量PCR | 仓PCR变化 | | - ...