1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - The report presents the trading data of various index options on March 31, 2026, including option trading volume, PCR, and VIX, to reflect the market conditions of index options [1][2][3] 3. Summary by Directory Option Trading Volume - On March 31, 2026, the trading volume of Shanghai Stock Exchange 50 ETF options was 807,400 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 885,900 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,545,900 contracts; the trading volume of Shenzhen 100 ETF options was 47,400 contracts; the trading volume of ChiNext ETF options was 1,510,200 contracts; the trading volume of Shanghai Stock Exchange 50 index options was 29,700 contracts; the trading volume of CSI 300 index options was 84,000 contracts; the total trading volume of CSI 1000 options was 281,800 contracts [1] Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 1.07, with a month - on - month change of - 0.13; the position PCR was reported at 0.74, with a month - on - month change of + 0.01. Similar data are provided for other types of options [2] Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 17.80%, with a month - on - month change of - 0.36%. Similar data are provided for other types of options [3]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - For all the analyzed options (上证50ETF, 上证300ETF, 创业板ETF, 中证1000股指), the recommended option strategy is to build a combination strategy of selling call + put options to obtain option time - value income and dynamically adjust positions [8][17][28][38] 3. Summary by Related Catalogs 3.1 Financial Market Overview - **Important Indexes**: The Shanghai Composite Index closed at 3891.86, down 31.43 (-0.80%) with a trading volume of 891.945 billion yuan and an increase of 52.123 billion yuan; the Shanghai 50 Index closed at 2826.12, down 7.08 (-0.25%) with a trading volume of 121.235 billion yuan and an increase of 17.92 billion yuan; the CSI 300 Index closed at 4450.05, down 41.90 (-0.93%) with a trading volume of 484.558 billion yuan and an increase of 39.929 billion yuan; the CSI 1000 Index closed at 7619.85, down 148.08 (-1.91%) with a trading volume of 404.652 billion yuan and a decrease of 7.322 billion yuan; the CSI 500 Index closed at 7617.33, down 136.40 (-1.76%) with a trading volume of 376.502 billion yuan and an increase of 15.06 billion yuan; the Shenzhen Component Index closed at 13478.06, down 248.14 (-1.81%) with a trading volume of 531.382 billion yuan and an increase of 3.201 billion yuan [3] - **Option - Underlying ETFs**: For example, the Shenzhen 100ETF closed at 3.398, down 0.046 (-1.34%) with a trading volume of 74.99 million shares and an increase of 30.51 million shares, and a trading amount of 257 million yuan and an increase of 105 million yuan; the ChiNext ETF closed at 3.182, down 0.082 (-2.51%) with a trading volume of 1379.48 million shares and an increase of 391 million shares, and a trading amount of 4.435 billion yuan and an increase of 1.224 billion yuan [4] 3.2 Shanghai 50ETF (510050.SH) - **Option Factors - Volume and Position PCR**: The trading volume of the call option was 451311, a decrease of 6410; the trading volume of the put option was 385688, an increase of 35992; the position of the call option was 751907, an increase of 22639; the position of the put option was 542943, an increase of 14316; the trading - volume PCR was 0.85, an increase of 0.09; the position PCR was 0.72 [5] - **Option Factors - Pressure and Support**: The weighted implied volatility was 17.38%, a decrease of 0.51%, and the annual average implied volatility was 17.70% [6] - **Market Data and Strategy Suggestions**: The closing price of 510050 yesterday was 2.9 yuan, down 0 yuan (-10.33%) from the previous day, with a trading volume of 60168, an increase of 5642; the implied volatility of the 510050 (Shanghai 50ETF option) fluctuated above the average of 0.1770; the position PCR of the 510050 option was reported at 0.7221, at the 13.88% level in the past year; the pressure level of the option underlying was 3, and the support level was 2.9; the recommended option strategy was to build a combination strategy of selling call + put options [8] 3.3 Shanghai 300ETF (510300.SH) - **Option Factors - Volume and Position PCR**: The trading volume of the call option was 458711, a decrease of 18695; the trading volume of the put option was 436724, an increase of 28224; the position of the call option was 714199, an increase of 26796; the position of the put option was 467096, an increase of 527; the trading - volume PCR was 0.95, an increase of 0.1; the position PCR was 0.65, a decrease of 0.02 [15] - **Option Factors - Pressure and Support**: The weighted implied volatility was 19.23%, a decrease of 0.60%, and the annual average implied volatility was 18.31% [16] - **Market Data and Strategy Suggestions**: The closing price of 510300 yesterday was 4.46 yuan, down 0.04 yuan (-82.22%) from the previous day, with a trading volume of 53056, a decrease of 1342; the implied volatility of the 510300 (Shanghai 300ETF option) fluctuated above the average of 0.1831; the position PCR of the 510300 option was reported at 0.654, at the 2.04% level in the past year; the pressure level of the option underlying was 4.6, and the support level was 4.5; the recommended option strategy was to build a combination strategy of selling call + put options [17] 3.4 ChiNext ETF (159915.SZ) - **Option Factors - Volume and Position PCR**: The trading volume of the call option was 730823, an increase of 172072; the trading volume of the put option was 779378, an increase of 108624; the position of the call option was 637485, an increase of 65574; the position of the put option was 608777, an increase of 40420; the trading - volume PCR was 1.07, a decrease of 0.13; the position PCR was 0.95, a decrease of 0.04 [25] - **Option Factors - Pressure and Support**: The weighted implied volatility was 30.74%, an increase of 1.88%, and the annual average implied volatility was 31.47% [26] - **Market Data and Strategy Suggestions**: The closing price of 159915 yesterday was 3.18 yuan, down 0.08 yuan (-251.23%) from the previous day, with a trading volume of 137947, an increase of 39099; the implied volatility of the 159915 (ChiNext ETF option) fluctuated above the average of 0.3147; the position PCR of the 159915 option was reported at 0.955, at the 30.61% level in the past year; the pressure level of the option underlying was 3.3, and the support level was 3.2; the recommended option strategy was to build a combination strategy of selling call + put options [28] 3.5 CSI 1000 Index (MO) - **Option Factors - Volume and Position PCR**: The trading volume of the call option was 161726, a decrease of 19410; the trading volume of the put option was 120121, a decrease of 8900; the position of the call option was 185344, an increase of 7144; the position of the put option was 145305, an increase of 4770; the trading - volume PCR was 0.74, an increase of 0.03; the position PCR was 0.78 [35] - **Option Factors - Pressure and Support**: The weighted implied volatility was 28.58%, an increase of 0.93%, and the annual average implied volatility was 23.88% [36] - **Market Data and Strategy Suggestions**: The closing price of 000852 yesterday was 7619.85 yuan, down 148.08 yuan (-190.62%) from the previous day, with a trading volume of 404652134124, a decrease of 7321747175; the implied volatility of the MO (CSI 1000 index option) fluctuated above the average of 0.2388; the position PCR of the MO option was reported at 0.784, at the 11.84% level in the past year; the pressure level of the option underlying was 8000, and the support level was 7000; the recommended option strategy was to build a combination strategy of selling call + put options [37][38]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No relevant content provided 3. Summary by Directory Option Trading Volume - On March 30, 2026, the trading volume of SSE 50 ETF options was 706,900 contracts; CSI 300 ETF options (Shanghai) was 818,200 contracts; CSI 500 ETF options (Shanghai) was 1,445,700 contracts; Shenzhen 100 ETF options was 47,400 contracts; ChiNext ETF options was 1,229,500 contracts; SSE 50 index options was 27,900 contracts; CSI 300 index options was 77,000 contracts; and CSI 1000 options was 310,200 contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on the same day [21] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 1.19, with a month - on - month change of +0.00; the position PCR was 0.73, with a change of +0.00. Similar data for other options are also provided, including CSI 300 ETF options (Shanghai), CSI 500 ETF options (Shanghai), etc. [2][35] Option VIX - The VIX of SSE 50 ETF options was reported at 18.17%, with a month - on - month change of +0.71%. Similar VIX data and changes for other options such as CSI 300 ETF options (Shanghai), CSI 500 ETF options (Shanghai) are also presented [3][48]

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 on March 27, 2026, including trading volume, PCR (Put - Call Ratio), and VIX (Volatility Index) [1][2][3] 3. Summary by Directory 3.1 Option Trading Volume - On March 27, 2026, the trading volume of SSE 50 ETF options was 1.1337 million contracts; CSI 300 ETF options (Shanghai market) was 0.8971 million contracts; CSI 500 ETF options (Shanghai market) was 1.4096 million contracts; Shenzhen 100 ETF options was 0.0499 million contracts; ChiNext ETF options was 1.2008 million contracts; SSE 50 index options was 0.0218 million contracts; CSI 300 index options was 0.0737 million contracts; and CSI 1000 options was 0.2949 million contracts [1] - The detailed breakdown of call, put, and total trading volumes for each option is as follows: SSE 50 ETF options had 0.3871 million call, 0.3198 million put, and 0.7069 million total contracts; CSI 300 ETF options (Shanghai market) had 0.4035 million call, 0.4147 million put, and 0.8182 million total contracts; CSI 500 ETF options (Shanghai market) had 0.7001 million call, 0.7456 million put, and 1.4457 million total contracts; Shenzhen 100 ETF options had 0.0187 million call, 0.0084 million put, and 0.0271 million total contracts; ChiNext ETF options had 0.5539 million call, 0.6469 million put, and 1.2008 million total contracts; SSE 50 index options had 0.0093 million call, 0.0126 million put, and 0.0218 million total contracts; CSI 300 index options had 0.0438 million call, 0.0332 million put, and 0.0770 million total contracts; CSI 1000 index options had 0.1722 million call, 0.1227 million put, and 0.2949 million total contracts [20] 3.2 Option PCR - The put - call ratio data shows that for SSE 50 ETF options, the trading volume PCR was 1.20 with a +0.08 change, and the open - interest PCR was 0.73 with a +0.03 change; for CSI 300 ETF options (Shanghai market), the trading volume PCR was 1.48 with a +0.14 change, and the open - interest PCR was 0.71 with a +0.01 change; for CSI 500 ETF options (Shanghai market), the trading volume PCR was 1.27 with a - 0.35 change, and the open - interest PCR was 0.94 with a - 0.01 change; for Shenzhen 100 ETF options, the trading volume PCR was 1.89 with a +0.01 change, and the open - interest PCR was 0.95 with a - 0.03 change; for ChiNext ETF options, the trading volume PCR was 1.16 with a +0.03 change, and the open - interest PCR was 1.08 with a +0.02 change; for SSE 50 index options, the trading volume PCR was 0.98 with a +0.03 change, and the open - interest PCR was 0.62 with a +0.00 change; for CSI 300 index options, the trading volume PCR was 1.05 with a +0.06 change, and the open - interest PCR was 0.66 with a +0.01 change; for CSI 1000 index options, the trading volume PCR was 1.10 with a - 0.27 change, and the open - interest PCR was 0.80 with a +0.02 change [2][34] 3.3 Option VIX - The VIX data indicates that for SSE 50 ETF options, the VIX was 17.46% with a - 0.68% change; for CSI 300 ETF options (Shanghai market), the VIX was 18.86% with a - 0.84% change; for CSI 500 ETF options (Shanghai market), the VIX was 28.16% with a - 1.61% change; for Shenzhen 100 ETF options, the VIX was 23.61% with a - 0.31% change; for ChiNext ETF options, the VIX was 26.67% with a - 0.65% change; for SSE 50 index options, the VIX was 18.76% with a - 0.58% change; for CSI 300 index options, the VIX was 19.24% with a - 0.52% change; for CSI 1000 index options, the VIX was 27.74% with a - 0.58% change [3][49]

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The report presents the trading data of various index options on March 26, 2026, including trading volume, PCR, and VIX, to reflect the market situation of index options [1][2][3] 3. Summary by Directory 3.1 Option Trading Volume - On March 26, 2026, the trading volume of Shanghai - 50 ETF options was 1.1311 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 1.2119 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 2.0706 million contracts; the trading volume of Shenzhen 100 ETF options was 0.161 million contracts; the trading volume of GEM ETF options was 1.3401 million contracts; the trading volume of Shanghai - 50 index options was 0.0278 million contracts; the trading volume of CSI 300 index options was 0.0883 million contracts; the total trading volume of CSI 1000 options was 0.2438 million contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on the same day [20] 3.2 Option PCR - The turnover PCR of Shanghai - 50 ETF options was reported at 1.12, with a month - on - month change of - 0.05; the position PCR was reported at 0.70, with a month - on - month change of + 0.13. Similar data for other options are also provided, including CSI 300 ETF options (Shanghai market), CSI 500 ETF options (Shanghai market), Shenzhen 100 ETF options, GEM ETF options, Shanghai - 50 index options, CSI 300 index options, and CSI 1000 index options [2][33] 3.3 Option VIX - The VIX of Shanghai - 50 ETF options was reported at 18.14%, with a month - on - month change of + 0.88%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 19.71%, with a month - on - month change of + 1.31%. Similar data for other options are also given, including CSI 500 ETF options (Shanghai market), Shenzhen 100 ETF options, GEM ETF options, Shanghai - 50 index options, CSI 300 index options, and CSI 1000 index options [3][47]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Directory Option Trading Volume - On March 25, 2026, the trading volume of SSE 50 ETF options was 1.5374 million contracts; CSI 300 ETF options (Shanghai) was 1.6237 million contracts; CSI 500 ETF options (Shanghai) was 2.5915 million contracts; Shenzhen 100 ETF options was 0.1447 million contracts; ChiNext ETF options was 1.8338 million contracts; SSE 50 index options was 0.0302 million contracts; CSI 300 index options was 0.1277 million contracts; and CSI 1000 options was 0.2859 million contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on a recent day [19] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 1.17, with a环比 change of -0.42; the position PCR was 0.57, with a环比 change of -0.02. Similar data is provided for other types of options [2] - The table presents the turnover PCR, its环比 change, position PCR, and its环比 change for various index ETF options on a recent day [34] Option VIX - The VIX of SSE 50 ETF options was reported at 17.25%, with a环比 change of -2.55%. Similar data is provided for other types of options [3] - The table shows the VIX and its环比 change for various index ETF options on a recent day [47]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The report presents the trading data of various stock index options on March 24, 2026, including trading volume, PCR, and VIX, to reflect the market conditions of the stock index option market [1][2][3] Summary by Directory Option Trading Volume - On March 24, 2026, the trading volume of Shanghai Stock Exchange 50 ETF options was 2.1836 million contracts; the trading volume of Shanghai and Shenzhen 300 ETF options (Shanghai market) was 2.2637 million contracts; the trading volume of China Securities 500 ETF options (Shanghai market) was 2.917 million contracts; the trading volume of Shenzhen 100 ETF options was 79,600 contracts; the trading volume of ChiNext ETF options was 2.6927 million contracts; the trading volume of Shanghai Stock Exchange 50 stock index options was 41,900 contracts; the trading volume of Shanghai and Shenzhen 300 stock index options was 180,500 contracts; the total trading volume of China Securities 1000 options was 371,600 contracts [1] Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 1.59, with a month - on - month change of - 0.61; the position PCR was reported at 0.59, with a month - on - month change of - 0.03. Similar data for other types of options are also provided, such as the turnover PCR of Shanghai and Shenzhen 300 ETF options (Shanghai market) was reported at 1.77, with a month - on - month change of - 0.40; the position PCR was reported at 0.67, with a month - on - month change of + 0.00 [2] Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 19.81%, with a month - on - month change of - 3.34%; the VIX of Shanghai and Shenzhen 300 ETF options (Shanghai market) was reported at 20.49%, with a month - on - month change of - 3.87%; the VIX of China Securities 500 ETF options (Shanghai market) was reported at 29.71%, with a month - on - month change of - 8.11%; the VIX of Shenzhen 100 ETF options was reported at 24.51%, with a month - on - month change of - 5.58%; the VIX of ChiNext ETF options was reported at 28.26%, with a month - on - month change of + 0.04%; the VIX of Shanghai Stock Exchange 50 stock index options was reported at 20.83%, with a month - on - month change of - 5.15%; the VIX of Shanghai and Shenzhen 300 stock index options was reported at 20.94%, with a month - on - month change of - 4.27%; the VIX of China Securities 1000 stock index options was reported at 29.15%, with a month - on - month change of - 3.87% [3]

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The report presents the trading data of stock index options on March 23, 2026, including option trading volume, PCR, and VIX [1][2][3] 3. Summary by Directory Option Trading Volume - On March 23, 2026, the trading volume of Shanghai Stock Exchange 50 ETF options was 1.149 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 1.5266 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 2.4075 million contracts; the trading volume of Shenzhen 100 ETF options was 0.1389 million contracts; the trading volume of ChiNext ETF options was 2.7478 million contracts; the trading volume of Shanghai Stock Exchange 50 stock index options was 0.0656 million contracts; the trading volume of CSI 300 stock index options was 0.1605 million contracts; the total trading volume of CSI 1000 options was 0.4154 million contracts [1] - The table also shows the call, put, and total trading volumes of various options [21] Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 2.20, with a month - on - month change of +0.70; the position PCR was reported at 0.62, with a month - on - month change of - 0.05. Similar data for other options are also provided, such as the turnover PCR of CSI 300 ETF options (Shanghai market) was 2.18, with a month - on - month change of +1.11; the position PCR was 0.67, with a month - on - month change of - 0.09 [2][34] Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 23.14%, with a month - on - month change of +5.11%. Similar data for other options are also provided, such as the VIX of CSI 300 ETF options (Shanghai market) was 24.37%, with a month - on - month change of +4.95% [3][54]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The report presents a daily overview of the stock index options market, including option trading volume, PCR (Put - Call Ratio), and VIX (Volatility Index) data for various stock index options on March 20, 2026. 3. Summary by Relevant Catalogs Option Trading Volume - On March 20, 2026, the trading volumes of different stock index options were as follows: Shanghai - Shenzhen 300 ETF options (Shanghai) had 138.67 million contracts; CSI 500 ETF options (Shanghai) had 238.88 million contracts; Shenzhen 100 ETF options had 10.64 million contracts; ChiNext ETF options had 288.96 million contracts; SSE 50 stock index options had 6.15 million contracts; Shanghai - Shenzhen 300 stock index options had 17.77 million contracts; and CSI 1000 options had 46.73 million contracts. The total trading volume of SSE 50 ETF options was 114.90 million contracts (with 68.63 million call contracts and 46.26 million put contracts) [1][19]. Option PCR - The PCR data of different stock index options showed various changes. For example, the SSE 50 ETF option's turnover PCR was reported at 1.50, with a + 0.12 change compared to the previous period, and the position PCR was 0.67, with a - 0.05 change. The Shanghai - Shenzhen 300 ETF option's turnover PCR was 1.07, with a - 0.21 change, and the position PCR was 0.76, with a + 0.01 change [2][34]. Option VIX - The VIX data of different stock index options also showed different trends. The SSE 50 ETF option's VIX was reported at 18.03%, with a + 0.77% change compared to the previous period. The Shanghai - Shenzhen 300 ETF option's VIX was 19.42%, with a + 0.94% change [3][47].

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Relevant Catalogs Option Trading Volume - On March 19, 2026, the trading volume of SSE 50 ETF options was 900,100 contracts, CSI 300 ETF options (Shanghai market) was 1,213,100 contracts, CSI 500 ETF options (Shanghai market) was 1,909,100 contracts, Shenzhen 100 ETF options was 79,400 contracts, ChiNext ETF options was 1,947,200 contracts, SSE 50 index options was 55,700 contracts, CSI 300 index options was 139,100 contracts, and CSI 1000 options was 468,400 contracts [1] - The table also shows the call, put, and total trading volumes of different index ETF options on the same day [21] Option PCR - The turnover PCR of SSE 50 ETF options was 1.38 (a +0.35 change from the previous period), and the open - interest PCR was 0.72 (a - 0.01 change). Similar data is provided for other types of options including CSI 300 ETF options, CSI 500 ETF options, etc [2][34] Option VIX - The VIX of SSE 50 ETF options was 17.26% (a +1.43% change from the previous period), and similar data for other types of options such as CSI 300 ETF options, CSI 500 ETF options are presented, showing the volatility index and their corresponding changes [3][47]