来源：上交所发布 01 市场概况 指数 | | 收盘 | 涨跌幅（%） | 市盈率（倍） | | --- | --- | --- | --- | | 上证综指 | 4163 | 1.98 | 17.1 | | 科创综指 | 1850 | 2.24 | 77.1 | | 科创50 | 1488 | 1.20 | 69.8 | | 上证180 | 10403 | 1.41 | 12.9 | | 上证380 | 7548 | 4.18 | 27.1 | 注：市盈率以上年年报利润数据为基准，剔除亏损公司。 成交 | | 成交额（亿元） | | --- | --- | | 主板股票 | 31685 | | 大宗交易 | 18 | | 科创板股票 | 9991 | | 盘后固定价格交易 | 1.0 | | 大宗交易 | 14.7 | | 债券 | 114895.9 | | 现货 | 5198.1 | | 回购 | 109624.1 | | 借贷 | 73.7 | | 基金 | 13854 | | ETF（含交易型货币基金） | 13813 | 规模 登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研 ...

1. Report Industry Investment Rating - No relevant content provided 2. Report's Core View - Implied volatility is positively correlated and rising. It is advisable to consider a bull spread strategy with caution and take a long position [2] 3. Summary by Relevant Sections 3.1 Option Market Transaction Overview - The daily average total trading volume of options reached 9.5451 million lots, with a total turnover of 12.5736002 billion yuan. For specific options: - Shanghai 50 Index Option: Call trading volume was 41,200 lots, Put trading volume was 17,700 lots, and total turnover was 288.733 million yuan [2] - CSI 1000 Index Option: Call trading volume was 221,300 lots, Put trading volume was 158,100 lots, and total turnover was 4.8323127 billion yuan [2] - Shanghai and Shenzhen 300 Index Option: Call trading volume was 114,200 lots, Put trading volume was 57,500 lots, and total turnover was 1.1351234 billion yuan [2] - Other ETF options also had corresponding trading volumes and turnovers [2] 3.2 Option Volatility Statistics - For near - month options, the ATM - IV, IV weekly change, 20HV, HV weekly change, Skew, Skew weekly change, VIX, and VIX change of various options were presented. For example: - Shanghai 50 Index Option: ATM - IV was 14.71%, IV weekly change was 1.83%, 20HV was 12.63%, HV weekly change was 4.01% [4] - CSI 1000 Index Option: ATM - IV was 24.13%, IV weekly change was 5.29%, 20HV was 16.18%, HV weekly change was 1.92% [4] 3.3 Option Liquidity - Various charts showed the changes in total trading volume, total open interest, total turnover, total trading market value, and total open - interest market value of financial options, as well as the trading volume and open - interest proportions of each option variety [5][6][7][8][9] 3.4 Option Volatility Level - Comparing the at - the - money implied volatility (ATM - IV) and historical volatility of options, last week, the ATM - IV and historical volatility of most options showed signs of divergence or convergence. The current ATM - IV and the positive correlation between the ATM - IV and the underlying asset price were also presented. For example: - Shanghai 50 Index Option: The current ATM - IV was 14.71%, and the correlation coefficient between the underlying asset and the ATM - IV was 95.75% [10] - CSI 1000 Index Option: The current ATM - IV was 24.13%, and the correlation coefficient was 96.30% [12] 3.5 Option Market Bull - Bear Sentiment - The Put - Call - Ratio (PCR) indicator of options can reflect the market's bull - bear sentiment to some extent. The report presented the PCR trends and daily - on - daily incremental percentages of various options [39][40][41][42][43][44][46] 3.6 Market Support and Resistance Level Information - The trading volume and open interest at different strike prices of options can help reveal the support and resistance levels of the underlying asset. For example: - Shanghai 50 Index: Key support level was 3000, and resistance level was 3150 [46] - CSI 1000 Index: Key support level was 7700, and resistance level was 8000 [46] - Shanghai and Shenzhen 300 Index: Key support level was 4650, and resistance level was 4750 [46] - Other underlying assets also had corresponding support and resistance levels [46]

1. Report's Industry Investment Rating No information provided regarding the industry investment rating. 2. Core Viewpoints of the Report - The financial options market in 2025 showed structural changes and sentiment differentiation. The market preference was towards growth - style index options, and the mid - term market sentiment remained optimistic. The implied volatility was relatively mild, and the advantage of option sellers increased. In 2026, the volatility center may rise slightly, and certain option strategies are recommended [4][111][113]. - The performance of option strategies in 2025 varied. The quantitative timing strategy based on the premium and discount of synthetic underlying assets achieved stable returns, while the "foolish" double - selling strategy had relatively large risks [5][112]. 3. Summary According to the Table of Contents 3.1 2025 Financial Options Market Operation - **Option Market Activity**: The domestic option market had 12 listed financial option varieties. By November 30, 2025, the total trading volume was 1.717 billion contracts, the average daily trading volume was 7.8047 million contracts, the total trading turnover was 1.641327 trillion yuan, and the average daily trading turnover was 7.46 billion yuan. The average daily trading volume, turnover, and open interest increased by about 12%, 21%, and 13% respectively compared to the same period in 2024. The growth in turnover mainly came from the third quarter, and the growth was mainly driven by the CSI 1000 Index Option and the dual - innovation options [12][14]. - **Market Preference for Growth - Style Index Options**: Measured by average daily turnover, the CSI 1000 Index Option had the highest market share at 33.69%, followed by the Southern CSI 500ETF Option at 19.25%. The market still preferred growth - style index options with larger underlying index fluctuations, while the share of the SSE 50ETF Option continued to decline to about 6% [17]. - **Position PCR Indicating Optimistic Mid - term Market Sentiment**: The position PCR values of major financial options mostly followed the fluctuations of the underlying index in 2025. The average position PCR values of IO and MO options increased significantly compared to 2024, indicating an increase in the proportion of investors selling put options. Although the position PCR values have declined recently, they are still at medium - to - high historical levels, suggesting that the mid - term market sentiment remains optimistic [22][23]. 3.2 2025 Stock Index Option Market Volatility - **Historical Volatility in a Similar "M" Shape**: The historical volatility of the three major index option underlying assets showed a similar "M" shape in 2025, with the upward - moving period significantly shorter than the downward - moving period. The volatility center and range narrowed compared to 2024 [26]. - **Implied Volatility More Moderate than in Previous Years**: The implied volatility of options also showed a similar "M" shape, but the upward - pulse time was shorter and the peak - reaching time was earlier. The implied volatility was more moderate than in previous years, which was related to the increasing institutionalization of the market and the regulatory authorities' advocacy of a slow - bull market [32][39]. - **Enhanced Advantage of Option Sellers in 2025**: The advantage of option sellers was enhanced in 2025, as the frequency and average amplitude of option implied volatility premiums increased compared to 2024, and the implied volatility mostly showed a downward - trending pattern [40][44]. - **Low Skewness Throughout the Year**: The proportion of negative skewness in implied volatility of options increased in 2025, mainly due to the expansion of stock market neutral products. Currently, the skewness of the CSI 1000 Index Option has recovered to a medium - to - high level in the past two years, while that of the SSE 50 and CSI 300 Index Options is still at a slightly low - medium level [45][48]. - **2026 Volatility Outlook**: In 2026, the implied volatility is currently low, and the volatility center may rise slightly, but it is expected that the peak will not exceed that of 2025. The implied volatility of the SSE 50 and CSI 300 Index Options is expected to range between 12% - 30%, and that of the CSI 1000 Index Option between 17% - 40%. Local peaks may occur in the first and third quarters [52]. 3.3 Option Strategy Review and Recommendation - **Quantitative Timing Strategy Based on Premium and Discount of Option Synthetic Underlying Assets**: This strategy can achieve a 23.6% absolute return in 2025, with a maximum drawdown of only 4.81%, far superior to the CSI 500 Index and corresponding stock index futures [60]. - **Performance Review of Classic Option Strategies**: - **Bull Spread Strategy**: In a slow - bull market, this strategy performs well. Although it slightly underperforms the underlying index, it significantly reduces the maximum drawdown [63][70]. - **Selling Put Option Strategy**: Except during the sharp rise in late September 2024, this strategy can generally outperform the underlying index, and the decline amplitude is relatively smaller [73][77]. - **Covered Call Strategy**: In 2025, this strategy performs better in IO and HO options with more stable underlying fluctuations, but underperforms in MO options with larger fluctuations. It may not be able to outperform the underlying index in a rapidly rising market [85][89]. - **Bullish Three - Leg Strategy**: In a slow - bull market, this strategy is a good alternative to index long positions. In case of a rapid market rise, the problem of underperformance can be improved by adjusting the position ratio [90]. - **Traditional Double - Selling Strategy**: For investors with poor timing ability, the SSE 50 Index Option is the most suitable for the double - selling strategy. The double - selling strategy for MO options has the most unstable returns and relatively large maximum drawdowns [98]. 3.4 Summary and Outlook - **Summary**: In 2025, the trading turnover of the financial options market increased, mainly driven by growth - style options. The position PCR indicated optimistic mid - term sentiment, the implied volatility was moderate, and option strategies achieved stable returns. Some classic strategies can reduce drawdowns and smooth the capital curve [106][111][112]. - **Outlook**: In 2026, the volatility center may rise slightly. Sellers of out - of - the - money put options are worthy of attention, the bullish three - leg strategy can be used to replace traditional futures long positions, and the strategy of shorting volatility is also worth considering [113][114].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - 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 high - level fluctuations [2]. - The implied volatility of financial options has decreased but remains at a relatively high level [2]. - For ETF options, it is suitable to construct a partial long - side seller strategy and a bull spread strategy for call options. For index options, in addition to the above strategies, an arbitrage strategy between synthetic long futures with options and short futures can be considered [2]. 3. Summary by Related Catalogs Financial Market Index Overview - Key stock market indices such as the Shanghai Composite Index, Shenzhen Component Index, and others closed lower, with the Shanghai Composite Index closing at 3,873.32, down 0.70%, and the Shenzhen Component Index closing at 13,147.39, down 1.27% [3]. Option - related ETF Market Overview - ETFs such as the SSE 50 ETF, SSE 300 ETF, etc., also generally declined. For example, the SSE 50 ETF closed at 3.120, down 0.38% [4]. Option Factor - Volume and Open Interest PCR - The volume and open interest PCR of different option varieties showed different trends. For example, the volume PCR of the SSE 50 ETF option was 1.08, with a change of 0.23, and the open interest PCR was 0.93, with a change of - 0.05 [5]. Option Factor - Pressure and Support Points - From the perspective of the maximum open interest of call and put options, the pressure and support points of option underlying assets were analyzed. For example, the pressure point of the SSE 50 ETF was 3.20, and the support point was 3.10 [7]. Option Factor - Implied Volatility - The implied volatility of different option varieties also showed different characteristics. For example, the at - the - money implied volatility of the SSE 50 ETF option was 12.36%, and the weighted implied volatility was 13.01%, with a change of 0.49% [10]. Strategy and Recommendations - The financial option sector is divided into large - cap blue - chip stocks, small and medium - sized boards, and ChiNext. Different strategies are recommended for each sector [12]. - For example, for the SSE 50 ETF in the financial stock sector, a partial neutral seller combination strategy can be constructed to obtain time - value income [13].

Report Industry Investment Rating - Not provided in the content Core Viewpoint - With the continuous decline of implied volatility in stock index options, investors can consider the covered call strategy [1] Summary by Related Catalogs Market Data Statistics - **Underlying Market**: The closing prices of the Shanghai Stock Exchange 50 Index, CSI 300 Index, and CSI 1000 Index were 2993.68, 4576.49, and 7386.68 respectively, with increases of 24.06, 49.82, and 52.47. The trading volumes were 46.52 billion, 200.38 billion, and 234.41 billion shares respectively, with changes of 9.25 billion, 57.48 billion, and 33.73 billion shares. The synthetic futures prices and basis for the current and next months are also provided [1] - **Option Market**: The trading volumes of Shanghai Stock Exchange 50 Index Options, CSI 300 Index Options, and CSI 1000 Index Options were 28345, 86757, and 169033 respectively, with changes of 9677, 12980, and -4500. The open interests were 65173, 172339, and 301690 respectively, with changes of 2743, 723, and 4331. The VL - PCR and OI - PCR values are also presented [1] Volatility Statistics - **Near - Month**: The ATM - IV of Shanghai Stock Exchange 50 Index Options was 10.97%, with a change of - 1.04%. The same - term HV was 12.03%, with a change of 0.54%. Similar data for other options are also provided [4] - **Next - Month**: The ATM - IV of Shanghai Stock Exchange 50 Index Options was 12.58%, with a change of - 0.66%. The same - term HV was 11.82%, with a change of 0.10%. Similar data for other options are also given [4] Option Types - **Shanghai Stock Exchange 50 Index Options**: Figures for full - contract PCR, main - contract skewness, volatility cone, and volatility term structure are presented [7][8] - **CSI 300 Index Options**: Similar figures for full - contract PCR, main - contract skewness, volatility cone, and volatility term structure are provided [11][12] - **CSI 1000 Index Options**: Figures for relevant indicators are also shown [15][16] - **Shanghai Stock Exchange 50ETF Options**: Figures for full - contract PCR, main - contract skewness, volatility cone, and volatility term structure are included [24][25] - **Huatai Berui 300ETF Options**: Similar figures for relevant indicators are presented [28][29] - **Southern China Securities 500ETF Options**: Figures for relevant indicators are provided [35][36] - **Huaxia Science and Technology Innovation 50ETF Options**: Figures for relevant indicators are shown [43][44] - **E Fund Science and Technology Innovation 50ETF Options**: Figures for relevant indicators are presented [51][52] - **Harvest 300ETF Options**: Figures for relevant indicators are provided [62][63] - **Harvest China Securities 500ETF Options**: Figures for relevant indicators are shown [68][69] - **Growth Enterprise Market ETF Options**: Figures for relevant indicators are presented [72][73] - **Shenzhen Stock Exchange 100ETF Options**: Figures for relevant indicators are provided [76][77]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoint of the Report The implied volatility of stock index options continues to decline, and investors can consider the covered call strategy [1]. 3. Summary According to Relevant Catalogs 3.1 Market Data Statistics - **Underlying Market Statistics**: The closing prices of various indices and ETFs showed increases, with trading volume changes varying. For example, the Shanghai Composite 50 Index closed at 2993.68, up 24.06 points, and its trading volume was 46.52 billion shares, an increase of 9.25 billion shares [1]. - **Options Market Statistics**: The trading volume and open interest of different options also changed. For instance, the trading volume of Shanghai Composite 50 Index Options was 28,345, an increase of 9,677, and the open interest was 65,173, an increase of 2,743 [1]. 3.2 Options Volatility Statistics - **Near - Month Options**: The ATM - IV of most options decreased, while the same - term HV showed different trends. For example, the ATM - IV of Shanghai Composite 50 Index Options was 10.97%, a decrease of 1.04%, and the same - term HV was 12.03%, an increase of 0.54% [4]. - **Next - Month Options**: Similar to the near - month options, the ATM - IV of most next - month options decreased, and the same - term HV also had various changes [4]. 3.3 Individual Option Analysis - **Shanghai Composite 50 Index Options**: The report presents multiple charts including the full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure [7][8]. - **CSI 300 Index Options**: Charts such as the full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are provided [11][12]. - **CSI 1000 Index Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are shown in relevant charts [15][16]. - **Shanghai Composite 50ETF Options**: Multiple charts including the full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are presented [24][25]. - **Huatai - Peregrine 300ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are included in the analysis [28][29]. - **Southern CSI 500ETF Options**: Relevant charts show the full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure [33][34]. - **Huaxia Science and Technology Innovation 50ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are presented in the report [41][43]. - **E Fund Science and Technology Innovation 50ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are included in the analysis [47][48]. - **Harvest 300ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are shown in relevant charts [58][59]. - **Harvest CSI 500ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are presented [63][64]. - **Growth Enterprise Market ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are included in the analysis [67][68]. - **Shenzhen 100ETF Options**: The full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure are shown in relevant charts [72][73].

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core View of the Report ETF options are approaching expiration, and the implied volatility of near - month contracts is rising [2]. 3. Summary by Related Catalogs 3.1 Market Data Statistics - **Underlying Market Statistics**: The closing prices of the Shanghai Composite 50 Index, CSI 300 Index, and CSI 1000 Index increased by 17.64, 42.36, and 93.54 respectively. The trading volumes of the Shanghai Composite 50 Index and CSI 300 Index decreased by 8.40 billion and 16.26 billion hands, while that of the CSI 1000 Index increased by 4.77 billion hands. For ETFs, the trading volume of some decreased, while others increased [3]. - **Option Market Statistics**: The trading volumes of some option contracts decreased, such as the Shanghai Composite 50 Index Option and Shanghai Composite 50 ETF Option, while others increased, like the CSI 1000 Index Option and Southern CSI 500 ETF Option. The open - interest also showed different trends of increase or decrease [3]. - **Option Volatility Statistics**: In the near - month contracts, the ATM - IV of most option contracts decreased, except for the Southern CSI 500 ETF Option and Huaxia Science and Technology Innovation 50 ETF Option which increased. The same - term HV of some contracts increased, and the Skew also had different changes [6]. 3.2 Option Index Data Statistics - **PCR and Maximum Positions**: The VL - PCR and OI - PCR of different option contracts varied. For example, the VL - PCR of the Shanghai Composite 50 Index Option was 54.85%, and the OI - PCR was 69.94%. The maximum positions of call and put options in the near - month contracts also differed for each option [3]. 3.3 Option Charts - For each type of option (e.g., Shanghai Composite 50 Index Option, CSI 300 Index Option), there are charts showing the full - contract PCR, the main - contract skewness trend, the volatility cone, and the volatility term structure, which visually present the historical and current option data [10][14][24]

Report Industry Investment Rating No relevant content provided. Core Viewpoint The market shows a trend of oscillating volatility decline, and it is advisable to consider selling out-of-the-money call options [1]. Summary by Related Catalogs 1. Market Data Statistics - **Underlying Market Statistics**: The closing prices of the Shanghai Stock Exchange 50 Index, CSI 300 Index, and some ETFs have changed, with trading volume showing varying degrees of decline. For example, the Shanghai Stock Exchange 50 Index closed at 2950.56, down 5.29 points, and its trading volume decreased by 9.59 billion hands [1]. - **Options Market Statistics**: The trading volume and open interest of various options have also changed. For instance, the trading volume of Shanghai Stock Exchange 50 Index Options decreased by 11,704, and the open interest increased by 2,676 [1]. 2. Options Volatility Statistics - **Near - Month Options**: The implied volatility (ATM - IV) of most options has declined. For example, the ATM - IV of Shanghai Stock Exchange 50 Index Options decreased by 1.28% [4]. - **Next - Month Options**: The ATM - IV of most options has also decreased. For example, the ATM - IV of Shanghai Stock Exchange 50 Index Options decreased by 0.29% [4]. 3. Specific Option Analysis - **Shanghai Stock Exchange 50 Index Options**: Analyzed through full - contract PCR, main - contract skewness, volatility cone, and volatility term structure charts [7][8]. - **CSI 300 Index Options**: Similar analysis methods are used, including full - contract PCR, main - contract skewness, volatility cone, and volatility term structure charts [11][12]. - **CSI 1000 Index Options**: Analyzed with relevant charts such as full - contract PCR, main - contract skewness, volatility cone, and volatility term structure [15][16]. - **ETF Options**: Options of various ETFs, such as Shanghai Stock Exchange 50ETF, Huatai - Ba瑞 300ETF, etc., are analyzed using similar methods [23][27].

Report Summary Report Industry Investment Rating No industry investment rating information is provided in the content. Core Viewpoint The market is in a state of volatile decline in volatility, and it is advisable to consider selling out-of-the-money call options [1]. Summary by Related Catalogs 1. Market Data Statistics - **Underlying Market**: The closing prices of the Shanghai Composite 50 Index, CSI 300 Index, and some ETFs showed different trends, with trading volumes mostly decreasing. For example, the Shanghai Composite 50 Index closed at 2950.56, down 5.29 points, and its trading volume was 50.80 billion hands, a decrease of 9.59 billion hands [1]. - **Options Market**: The trading volumes of various options mostly decreased, while the open interest showed different trends. For instance, the trading volume of Shanghai Composite 50 Index Options was 25,915, a decrease of 11,704, and the open interest was 56,615, an increase of 2,676 [1]. - **Options Volatility**: The implied volatility (IV) of most options decreased, and the historical volatility (HV) showed different trends. For example, the near - month ATM - IV of Shanghai Composite 50 Index Options was 14.38%, a decrease of 1.28%, and the 10 - day HV was 11.80%, a decrease of 0.11% [4]. 2. Option Analysis Charts - For each type of option (such as Shanghai Composite 50 Index Options, CSI 300 Index Options, etc.), there are charts showing full - contract PCR, main - contract skewness, volatility cones, and volatility term structures, which help analyze the market sentiment and volatility characteristics of each option [8][12][16].

1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - The implied volatility of stock index options is decreasing, and stock index options are approaching expiration [2]. 3. Summary by Related Catalogs 3.1 Option Market Data Statistics - **Underlying Market Statistics**: The closing prices of the Shanghai - Shenzhen 300 Index, CSI 1000 Index, Shanghai - Shenzhen related ETFs all decreased. For example, the Shanghai - Shenzhen 300 Index closed at 4564.95, down 23.34; the CSI 1000 Index closed at 7340.41, down 46.80. The trading volumes of most underlying assets changed, with some increasing and some decreasing [3]. - **Option Market Statistics**: The trading volumes and open interests of various options also changed. For instance, the trading volume of Shanghai - Shenzhen 300 Index options was 172,768, up 6704; the open interest was 233,386, down 1521. The VL - PCR and OI - PCR of different options varied, such as the VL - PCR of Shanghai - Shenzhen 300 Index options was 60.97%, and the OI - PCR was 78.20% [3]. 3.2 Option Volatility Statistics - **Near - month Options**: The ATM - IV, IV changes, and other volatility - related indicators of different options showed different trends. For example, the ATM - IV of Shanghai - Shenzhen 300 Index options was 15.02%, up 1.08%; the ATM - IV of Shanghai - Shenzhen 300 ETF options was 15.82%, down 0.13% [6]. - **Next - month Options**: Similar to near - month options, the ATM - IV and other indicators of next - month options also had different changes. For instance, the ATM - IV of Shanghai - Shenzhen 300 Index options was 16.40%, down 0.54% [6]. 3.3 Option Index Data Statistics - No specific analysis content is provided, only the table title is given [7]. 3.4 Different Option Types Analysis - **Shanghai 50 Index Options**: Multiple charts are provided, including the full - contract PCR chart, the main - contract skewness chart, the volatility cone chart, and the volatility term - structure chart, which can be used to analyze the market situation of Shanghai 50 Index options [10]. - **Shanghai - Shenzhen 300 Index Options**: Similar to Shanghai 50 Index options, multiple charts are used to analyze the market situation of Shanghai - Shenzhen 300 Index options, such as the full - contract PCR chart and the main - contract volatility chart [14][16]. - **CSI 1000 Index Options**: The report presents relevant charts for CSI 1000 Index options to help analyze its market characteristics [20][21]. - **Shanghai 50 ETF Options**: Various charts are provided to analyze the market of Shanghai 50 ETF options, including the main - contract volatility chart and the full - contract PCR chart [24][26]. - **Huatai - Baorui 300 ETF Options**: Multiple charts are used to analyze the market situation of Huatai - Baorui 300 ETF options [28][30]. - **Southern CSI 500 ETF Options**: The report uses charts to analyze the market of Southern CSI 500 ETF options [32][33]. - **Huaxia Science and Technology Innovation 50 ETF Options**: Relevant charts are provided for the analysis of Huaxia Science and Technology Innovation 50 ETF options [42][43]. - **E Fund Science and Technology Innovation 50 ETF Options**: Multiple charts are used to analyze the market situation of E Fund Science and Technology Innovation 50 ETF options [46][51]. - **Harvest 300 ETF Options**: The report presents charts to analyze the market of Harvest 300 ETF options [54][55]. - **Harvest CSI 500 ETF Options**: Various charts are used to analyze the market situation of Harvest CSI 500 ETF options [59][60]. - **Growth Enterprise Market ETF Options**: Multiple charts are provided to analyze the market of Growth Enterprise Market ETF options [64][66]. - **Shenzhen 100 ETF Options**: The report uses charts to analyze the market situation of Shenzhen 100 ETF options [68][70].