1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No relevant content provided 3. Summary by Directory I. Option Trading Volume - On March 2, 2026, the trading volume of SSE 50 ETF options was 421,500 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 687,700 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,160,000 contracts; the trading volume of Shenzhen 100 ETF options was 227,500 contracts; the trading volume of ChiNext ETF options was 1,301,000 contracts; the trading volume of SSE 50 index options was 37,600 contracts; the trading volume of CSI 300 index options was 68,700 contracts; the total trading volume of CSI 1000 options was 274,100 contracts [1] - The detailed trading volume data including call and put trading volume and total trading volume for different types of options are presented in Table 1 [20] II. Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.97, with a month - on - month change of +0.18; the open interest PCR was reported at 0.83, with a month - on - month change of +0.02. Similar data for other types of options are also provided, such as the turnover PCR of CSI 300 ETF options (Shanghai market) was 0.98, with a month - on - month change of +0.19; the open interest PCR was 0.87, with a month - on - month change of +0.06 [2] - The detailed PCR data including turnover PCR and open interest PCR and their month - on - month changes for different types of options are presented in Table 2 [34] III. Option VIX - The VIX of SSE 50 ETF options was reported at 15.36%, with a month - on - month change of +0.91%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 15.36%, with a month - on - month change of +0.73%. Similar data for other types of options are also provided, such as the VIX of CSI 500 ETF options (Shanghai market) was 23.43%, with a month - on - month change of +0.88% [3] - The detailed VIX data and their month - on - month changes for different types of options are presented in Table 3 [50]

Report Industry Investment Rating - Not provided in the given content Core Viewpoint - Not provided in the given content Summary by Directory Option Trading Volume - On February 27, 2026, the trading volume of SSE 50 ETF options was 646,500 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 692,400 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 834,000 contracts; the trading volume of Shenzhen 100 ETF options was 65,500 contracts; the trading volume of ChiNext ETF options was 1,015,600 contracts; the trading volume of SSE 50 index options was 18,600 contracts; the trading volume of CSI 300 index options was 70,100 contracts; the total trading volume of CSI 1000 options was 222,000 contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on a recent day, such as 229,000 call contracts and 192,500 put contracts for SSE 50 ETF options, with a total of 421,500 contracts [18] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.79, with a month - on - month change of - 0.08; the position PCR was reported at 0.80, with a month - on - month change of + 0.00. Similar data for other options are also provided, including CSI 300 ETF options (Shanghai market), CSI 500 ETF options (Shanghai market), etc. [2] - The table presents the turnover PCR, month - on - month change, position PCR, and month - on - month change of various index ETF options on a recent day [30] Option VIX - The VIX of SSE 50 ETF options was reported at 14.44%, with a month - on - month change of - 0.43%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 14.62%, with a month - on - month change of - 0.28%. Similar data for other options are also provided [3] - The table shows the VIX and month - on - month change values of various index ETF options on a recent day [47]

Market Overview - The Shanghai Composite Index closed at 4163, with a gain of 1.98% and a price-to-earnings ratio of 17.1 [1] - The Sci-Tech Innovation Board Index closed at 1850, increasing by 2.24% with a price-to-earnings ratio of 77.1 [1] - The Shanghai 50 Index closed at 1488, up by 1.20% with a price-to-earnings ratio of 69.8 [1] - The Shanghai 180 Index closed at 10403, gaining 1.41% with a price-to-earnings ratio of 12.9 [1] - The Shanghai 380 Index closed at 7548, increasing by 4.18% with a price-to-earnings ratio of 27.1 [1] Trading Volume - The total trading volume for the main board stocks was 31685 million yuan [2] - The trading volume for the Sci-Tech Innovation Board stocks was 9991 million yuan [2] - The total bond trading volume reached 114895.9 million yuan [2] - The total fund trading volume was 13854 million yuan [2] - The total ETF trading volume (including money market funds) was 13813 million yuan [2] Financing Situation - In the main board, there were 49 refinancing cases raising 67.7 million yuan [6] - In the Sci-Tech Innovation Board, there were 15 refinancing cases raising 3.7 million yuan [6] - A total of 74 bonds were issued, raising 506 million yuan [6] Regulatory Overview - The Shanghai Stock Exchange sent out 5 regulatory letters during the period, requiring one company to disclose supplementary or corrective announcements [12] - The exchange initiated investigations into 5 cases of insider trading and abnormal trading due to significant stock price fluctuations [12] - A total of 158 cases of abnormal trading behavior were monitored, including actions against stocks with significant volatility [13] Company Debt Review - From February 24 to February 27, 2026, the Shanghai Stock Exchange received applications from 34 companies to issue bonds, with a total proposed issuance amount of 667.18 million yuan [20]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No clear core viewpoints are presented in the given content 3. Summary According to the Catalog Option Trading Volume - On February 13, 2026, the trading volume of SSE 50 ETF options was 483,400 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 529,400 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,089,800 contracts; the trading volume of Shenzhen 100 ETF options was 66,900 contracts; the trading volume of ChiNext ETF options was 1,318,700 contracts; the trading volume of SSE 50 index options was 52,700 contracts; the trading volume of CSI 300 index options was 71,800 contracts; and the total trading volume of CSI 1000 options was 292,100 contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on a recent day, such as the total trading volume of SSE 50 ETF options was 1,135,500 contracts, and that of CSI 300 ETF options (Shanghai market) was 1,202,100 contracts [21] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 1.00, with a month - on - month change of +0.43; the position PCR was reported at 0.74, with a month - on - month change of - 0.02. Similar data are provided for other types of options [2] - The table presents the turnover PCR, month - on - month change, position PCR, and month - on - month change of various index ETF options [34] Option VIX - The VIX of SSE 50 ETF options was reported at 17.83%, with a month - on - month change of +1.23%. Similar data are provided for other types of options [3] - The table shows the VIX and month - on - month change values of various index ETF options [47]

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].

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The report presents the trading data of various index options on February 12, 2026, including trading volume, PCR, and VIX, to reflect the market situation of index options [1][2][3] 3. Summary by Relevant Catalog Option Trading Volume - On February 12, 2026, the trading volume of Shanghai - Shenzhen 300 ETF options (Shanghai) was 626,200 contracts; the trading volume of CSI 500 ETF options (Shanghai) was 946,600 contracts; the trading volume of Shenzhen 100 ETF options was 49,100 contracts; the trading volume of ChiNext ETF options was 1,275,800 contracts; the trading volume of Shanghai - Shenzhen 300 index options was 61,400 contracts; the total trading volume of CSI 1000 options was 252,600 contracts [1] - The trading volume of Shanghai 50 ETF options was 483,400 contracts (253,100 call contracts and 230,300 put contracts); the trading volume of Shanghai - Shenzhen 300 ETF options (Shanghai) was 529,400 contracts (262,500 call contracts and 267,000 put contracts); the trading volume of CSI 500 ETF options (Shanghai) was 1,089,800 contracts (589,500 call contracts and 500,200 put contracts); the trading volume of Shenzhen 100 ETF options was 66,900 contracts (51,000 call contracts and 15,900 put contracts); the trading volume of ChiNext ETF options was 1,275,800 contracts (539,000 call contracts and 736,800 put contracts); the trading volume of Shanghai 50 index options was 22,100 contracts (8,700 call contracts and 13,400 put contracts); the trading volume of Shanghai - Shenzhen 300 index options was 71,800 contracts (33,500 call contracts and 23,700 put contracts); the trading volume of CSI 1000 index options was 252,600 contracts (141,500 call contracts and 111,100 put contracts) [20] Option PCR - The turnover PCR of Shanghai 50 ETF options was 0.57, with a month - on - month change of - 0.15; the position PCR was 0.76, with a month - on - month change of - 0.06; the turnover PCR of Shanghai - Shenzhen 300 ETF options (Shanghai) was 0.78, with a month - on - month change of - 0.26; the position PCR was 0.84, with a month - on - month change of - 0.04; the turnover PCR of CSI 500 ETF options (Shanghai) was 0.52, with a month - on - month change of - 0.18; the position PCR was 1.24, with a month - on - month change of + 0.04; the turnover PCR of Shenzhen 100 ETF options was 1.48, with a month - on - month change of + 0.19; the position PCR was 1.28, with a month - on - month change of + 0.10; the turnover PCR of ChiNext ETF options was 0.70, with a month - on - month change of - 0.16; the position PCR was 1.15, with a month - on - month change of + 0.12; the turnover PCR of Shanghai 50 index options was 0.49, with a month - on - month change of + 0.13; the position PCR was 0.64, with a month - on - month change of - 0.01; the turnover PCR of Shanghai - Shenzhen 300 index options was 0.40, with a month - on - month change of - 0.03; the position PCR was 0.63, with a month - on - month change of - 0.01; the turnover PCR of CSI 1000 index options was 0.50, with a month - on - month change of - 0.07; the position PCR was 0.96, with a month - on - month change of + 0.03 [2][36] Option VIX - The VIX of Shanghai 50 ETF options was 16.60%, with a month - on - month change of + 0.11%; the VIX of Shanghai - Shenzhen 300 ETF options (Shanghai) was 17.13%, with a month - on - month change of + 0.34%; the VIX of CSI 500 ETF options (Shanghai) was 25.33%, with a month - on - month change of + 0.55%; the VIX of Shenzhen 100 ETF options was 20.33%, with a month - on - month change of - 0.11%; the VIX of ChiNext ETF options was 26.20%, with a month - on - month change of + 0.34%; the VIX of Shanghai 50 index options was 17.15%, with a month - on - month change of + 0.01%; the VIX of Shanghai - Shenzhen 300 index options was 17.89%, with a month - on - month change of + 0.12%; the VIX of CSI 1000 index options was 25.64%, with a month - on - month change of - 0.58% [3][48]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No clear core viewpoints presented in the given content 3. Summary by Directory Option Trading Volume - On February 11, 2026, the trading volume of SSE 50 ETF options was 524,000 contracts; CSI 300 ETF options (Shanghai) was 744,400 contracts; CSI 500 ETF options (Shanghai) was 1,114,900 contracts; Shenzhen 100 ETF options was 42,900 contracts; ChiNext ETF options was 1,030,100 contracts; SSE 50 index options was 20,400 contracts; CSI 300 index options was 67,000 contracts; and CSI 1000 options was 201,000 contracts [1] - The detailed breakdown of call, put, and total trading volumes for each option type on the same day is as follows: SSE 50 ETF options (call: 265,400, put: 302,800, total: 568,300); CSI 300 ETF options (Shanghai) (call: 255,700, put: 370,500, total: 626,200); CSI 500 ETF options (Shanghai) (call: 465,700, put: 480,900, total: 946,600); Shenzhen 100 ETF options (call: 33,900, put: 15,200, total: 49,100); ChiNext ETF options (call: 466,700, put: 563,500, total: 1,030,100); SSE 50 index options (call: 7,500, put: 12,900, total: 20,400); CSI 300 index options (call: 28,100, put: 21,500, total: 61,400); CSI 1000 index options (call: 108,300, put: 92,800, total: 201,000) [21] Option PCR - The turnover PCR and position PCR, along with their环比 changes, for different options are as follows: SSE 50 ETF options (turnover PCR: 0.72, 环比 change: +0.06; position PCR: 0.82, 环比 change: -0.01); CSI 300 ETF options (Shanghai) (turnover PCR: 1.05, 环比 change: +0.17; position PCR: 0.88, 环比 change: +0.00); CSI 500 ETF options (Shanghai) (turnover PCR: 0.69, 环比 change: -0.24; position PCR: 1.20, 环比 change: +0.01); Shenzhen 100 ETF options (turnover PCR: 1.29, 环比 change: +0.24; position PCR: 1.18, 环比 change: +0.00); ChiNext ETF options (turnover PCR: 0.86, 环比 change: +0.26; position PCR: 1.04, 环比 change: -0.04); SSE 50 index options (turnover PCR: 0.36, 环比 change: -0.14; position PCR: 0.65, 环比 change: +0.01); CSI 300 index options (turnover PCR: 0.42, 环比 change: -0.07; position PCR: 0.65, 环比 change: -0.01); CSI 1000 index options (turnover PCR: 0.56, 环比 change: -0.04; position PCR: 0.93, 环比 change: +0.01) [2][34] Option VIX - The VIX and its环比 changes for different options are as follows: SSE 50 ETF options (VIX: 16.49%, 环比 change: +0.24%); CSI 300 ETF options (Shanghai) (VIX: 16.80%, 环比 change: +0.20%); CSI 500 ETF options (Shanghai) (VIX: 24.78%, 环比 change: +0.23%); Shenzhen 100 ETF options (VIX: 20.45%, 环比 change: +0.03%); ChiNext ETF options (VIX: 25.86%, 环比 change: -0.10%); SSE 50 index options (VIX: 17.14%, 环比 change: -0.18%); CSI 300 index options (VIX: 17.77%, 环比 change: -0.18%); CSI 1000 index options (VIX: 26.22%, 环比 change: +0.55%) [3][49]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The report presents the trading data of various index options in the market on February 10, 2026, including trading volume, PCR (Put - Call Ratio), and VIX (Volatility Index), to help investors understand the market situation [1] 3. Summary by Directory 3.1 Option Trading Volume - On February 10, 2026, the trading volumes of different index options were as follows: Shanghai - Shenzhen 300 ETF options (Shanghai) had 879,800 contracts; CSI 500 ETF options (Shanghai) had 1,262,400 contracts; Shenzhen 100 ETF options had 65,700 contracts; ChiNext ETF options had 969,400 contracts; SSE 50 index options had 24,500 contracts; Shanghai - Shenzhen 300 index options had 85,000 contracts; and CSI 1000 options had 217,900 contracts. The trading volume of SSE 50 ETF options was 823,600 contracts [1] - The table also shows the call, put, and total trading volumes of each option, such as the total trading volume of SSE 50 ETF options was 524,000 contracts, with 260,700 call contracts and 263,300 put contracts [20] 3.2 Option PCR - The PCR data of different options on February 10, 2026, are as follows: The turnover PCR of SSE 50 ETF options was reported at 0.66, with a month - on - month change of +0.02; the position PCR was reported at 0.82, with a month - on - month change of +0.05. Similar data are provided for other options [2][36] 3.3 Option VIX - The VIX data and their month - on - month changes of various options on February 10, 2026, are presented. For example, the VIX of SSE 50 ETF options was reported at 16.26%, with a month - on - month change of - 0.80%. Similar data are provided for other options [3][51]

1. Report's Industry Investment Rating - Not provided in the report 2. Core Viewpoints - The report presents the trading data of various index options on February 9, 2026, including trading volume, PCR (Put - Call Ratio), and VIX (Volatility Index), to reflect the market situation of index options [1][2][3] 3. Summary by Directory Option Trading Volume - On February 9, 2026, the trading volume of SSE 50 ETF options was 793,300 contracts; CSI 300 ETF options (Shanghai) was 1,024,800 contracts; CSI 500 ETF options (Shanghai) was 1,902,000 contracts; Shenzhen 100 ETF options was 46,200 contracts; ChiNext ETF options was 1,421,400 contracts; SSE 50 index options was 29,600 contracts; CSI 300 index options was 119,400 contracts; and CSI 1000 options was 266,900 contracts [1] - The table shows the trading volume details of call, put, and total contracts for each index option [20] Option PCR - The trading volume PCR and position PCR of various index options and their corresponding changes are as follows: for example, the trading volume PCR of SSE 50 ETF options was 0.64, with a change of - 0.30, and the position PCR was 0.77, with a change of + 0.04 [2] - The table provides a comprehensive list of the trading volume PCR, its change, position PCR, and its change for various index options [36] Option VIX - The VIX of various index options and their corresponding changes are presented. For instance, the VIX of SSE 50 ETF options was 17.05%, with a change of - 0.47% [3] - The table lists the VIX and its change for each index option [51]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - The report presents the trading data of various index - option products on February 6, 2026, including trading volume, PCR, and VIX, and their respective changes compared to the previous period [1][2][3] 3. Summary by Directory 3.1 Option Trading Volume - On February 6, 2026, the trading volume of SSE 50 ETF options was 799,200 contracts; CSI 300 ETF options (Shanghai) was 1,025,300 contracts; CSI 500 ETF options (Shanghai) was 2,190,000 contracts; Shenzhen 100 ETF options was 38,900 contracts; ChiNext ETF options was 1,594,900 contracts; SSE 50 index options was 35,000 contracts; CSI 300 index options was 98,300 contracts; and CSI 1000 options was 334,300 contracts [1] 3.2 Option PCR - SSE 50 ETF options: The trading - volume PCR was 0.95, with a month - on - month increase of 0.18; the open - interest PCR was 0.74, with a month - on - month decrease of 0.02 - CSI 300 ETF options (Shanghai): The trading - volume PCR was 1.04, with a month - on - month increase of 0.07; the open - interest PCR was 0.80, with a month - on - month decrease of 0.01 - CSI 500 ETF options (Shanghai): The trading - volume PCR was 1.06, with a month - on - month decrease of 0.36; the open - interest PCR was 1.14, with a month - on - month increase of 0.03 - Shenzhen 100 ETF options: The trading - volume PCR was 1.43, with a month - on - month increase of 0.36; the open - interest PCR was 1.16, with a month - on - month decrease of 0.07 - ChiNext ETF options: The trading - volume PCR was 1.08, with a month - on - month decrease of 0.06; the open - interest PCR was 1.01, with a month - on - month increase of 0.03 - SSE 50 index options: The trading - volume PCR was 0.58, with a month - on - month increase of 0.09; the open - interest PCR was 0.60, with a month - on - month decrease of 0.01 - CSI 300 index options: The trading - volume PCR was 0.72, with a month - on - month increase of 0.02; the open - interest PCR was 0.63, with a month - on - month increase of 0.00 - CSI 1000 index options: The trading - volume PCR was 0.83, with a month - on - month decrease of 0.13; the open - interest PCR was 0.84, with a month - on - month increase of 0.02 [2] 3.3 Option VIX - SSE 50 ETF options: The VIX was 17.53%, with a month - on - month increase of 0.26% - CSI 300 ETF options (Shanghai): The VIX was 18.09%, with a month - on - month increase of 0.17% - CSI 500 ETF options (Shanghai): The VIX was 27.61%, with a month - on - month increase of 0.64% - Shenzhen 100 ETF options: The VIX was 22.37%, with a month - on - month increase of 0.20% - ChiNext ETF options: The VIX was 27.75%, with a month - on - month decrease of 0.06% - SSE 50 index options: The VIX was 18.43%, with a month - on - month increase of 0.08% - CSI 300 index options: The VIX was 19.24%, with a month - on - month increase of 0.17% - CSI 1000 index options: The VIX was 27.86%, with a month - on - month increase of 0.72% [3]