Report Overview - The report is an early morning report on oil product options dated April 1, 2026, covering liquefied gas (PG) and crude oil (SC) options [1][3] 1. Liquefied Gas (PG) Options 1.1 Market Data - The closing price of the pg2605 contract was 6339 yuan, down 376 yuan or 5.59% from the previous day. The trading volume was 165,022 lots, a decrease of 1,687 lots, and the open interest was 50,737 lots, a decrease of 3,099 lots [4][7] 1.2 Option Factors - **Volume and Open Interest PCR**: The trading volume of PG (liquefied gas call options) was 25,210, a decrease of 9,783, and the open interest was 19,122, an increase of 409. The trading volume of PG (liquefied gas put options) was 19,137, an increase of 4,209, and the open interest was 20,240, an increase of 201. The volume PCR was 0.76, an increase of 0.33, and the open interest PCR was 1.06, a decrease of 0.01 [5] - **Pressure and Support**: The pressure level of PG options was 7,500, and the support level was 3,400. The weighted implied volatility was 79.26%, a decrease of 4.09%, and the annual average implied volatility was 29.43% [6] 1.3 Market Analysis - The implied volatility of PG options fluctuated above the mean of 0.2943. The open interest PCR of PG options was reported at 1.0585, at the 91.84% level in the past year [7] 1.4 Strategy Recommendations - **Directional Strategy**: None - **Volatility Strategy**: Due to high geopolitical risks, strategies based on selling (such as single selling and double selling) are not recommended [8] 2. Crude Oil (SC) Options 2.1 Market Data - The closing price of the sc2605 contract was 740.6 yuan, down 22.4 yuan or 2.93% from the previous day. The trading volume was 91,655 lots, a decrease of 10,950 lots, and the open interest was 49,215 lots, a decrease of 4,196 lots [16][19] 2.2 Option Factors - **Volume and Open Interest PCR**: The trading volume of SC (crude oil call options) was 133,102, a decrease of 708, and the open interest was 68,576, an increase of 240. The trading volume of SC (crude oil put options) was 93,706, an increase of 11,936, and the open interest was 95,768, an increase of 1,402. The volume PCR was 0.7, an increase of 0.09, and the open interest PCR was 1.4, an increase of 0.02 [17] - **Pressure and Support**: The pressure level of SC options was 1,050, and the support level was 500. The weighted implied volatility was 106.39%, a decrease of 7.30%, and the annual average implied volatility was 45.55% [18] 2.3 Market Analysis - The implied volatility of SC options fluctuated above the mean of 0.4555. The open interest PCR of SC options was reported at 1.3965, at the 91.43% level in the past year [19] 2.4 Strategy Recommendations - **Directional Strategy**: Construct a bull call spread strategy to obtain directional returns - **Volatility Strategy**: Due to high geopolitical risks, strategies based on selling (such as single selling and double selling) are not recommended [20]

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - No relevant content Group 3: Summary of Related Catalogs Option Quotes - The daily percentage changes of call options for various commodities are as follows: aluminum 110.63%, cast aluminum alloy 52.98%, log 30.00%, polysilicon 25.07%, zinc 24.79%, tin 22.41%, palm oil 21.40%, lithium carbonate 21.29%, gold 20.78%, and ferrosilicon 19.83% [1] - The daily percentage changes of put options for various commodities are as follows: corn 53.85%, caustic soda 43.50%, industrial silicon 41.67%, soda ash 26.67%, corn starch 24.07%, offset printing paper 20.00%, eggs 17.83%, sugar 11.24%, lead 8.19%, and PVC 4.85% [1] Option Positions - The daily changes in call option positions for various commodities are as follows: glass 72484, soda ash 20918, PTA 17053, polysilicon 14673, aluminum 14245, coking coal 14096, rapeseed meal 14071, industrial silicon 12621, corn 12202, and caustic soda 11155 [2] - The daily changes in put option positions for various commodities are as follows: methanol 29780, PTA 14011, glass 11164, lithium carbonate 9399, styrene 7237, ethylene glycol 7034, rapeseed meal 5637, soybean meal 5482, sugar 5166, and iron ore 4908 [2] Option Position Put - Call Ratio (PCR) - High - position PCR varieties and their PCR values are: fuel oil 1.7887, short - fiber 1.5487, styrene 1.5322, methanol 1.5248, crude oil 1.3809, ethylene glycol 1.3654, propylene 1.323, lithium carbonate 1.2158, polypropylene 1.2116, and PTA 1.188 [5] - Low - position PCR varieties and their PCR values are: red dates 0.2068, live pigs 0.207, polysilicon 0.2947, alumina 0.3083, soda ash 0.3261, log 0.3686, urea 0.3696, coking coal 0.3824, apples 0.393, and glass 0.3965 [5] Option Volume Put - Call Ratio (PCR) - High - volume PCR varieties and their PCR values are: propylene 16.4375, short - fiber 7.36, polypropylene 2.0329, iron ore 1.0411, p - xylene 0.9516, cast aluminum alloy 0.9234, copper 0.8426, offset printing paper 0.8077, lead 0.8031, and PTA 0.7501 [6] - Low - volume PCR varieties and their PCR values are: urea 0.1848, polysilicon 0.1914, alumina 0.1967, coking coal 0.2011, live pigs 0.234, palladium 0.2404, tin 0.2569, red dates 0.2611, nickel 0.2795, and aluminum 0.2847 [6] Daily Selections - Call options: manganese silicon (SM606, SM606C6700, trend degree 53, put - call ratio 0.63, remaining days 44), lithium carbonate (lc2607, lc2607 - C - 174000, trend degree 49, put - call ratio 1.22, remaining days 67), synthetic rubber (br2606, br2606C17800, trend degree 49, put - call ratio 0.96, remaining days 56), peanuts (PK610, PK610C8500, trend degree 49, put - call ratio 0.5, remaining days 165), methanol (MA609, MA609C3200, trend degree 45, put - call ratio 1.52, remaining days 135), styrene (eb2606, eb2606 - C - 10800, trend degree 45, put - call ratio 1.53, remaining days 52), urea (UR606, UR606C1900, trend degree 43, put - call ratio 0.37, remaining days 44), polypropylene (pp2606, pp2606 - C - 9600, trend degree 43, put - call ratio 1.21, remaining days 52) [7] - Put options: rapeseed meal (RM609, RM609P2325, trend degree - 55, put - call ratio 0.55, remaining days 135), soybeans No.1 (a2607, a2607 - P - 4400, trend degree - 53, put - call ratio 0.77, remaining days 78), corn (c2607, c2607 - MS - P - 2360, trend degree - 53, put - call ratio 0.53, remaining days 52), alumina (ao2606, ao2606P2850, trend degree - 47, put - call ratio 0.31, remaining days 56), live pigs (lh2607, lh2607 - P - 10800, trend degree - 47, put - call ratio 0.21, remaining days 78), soybean meal (m2607, m2607 - P - 2800, trend degree - 43, put - call ratio 0.85, remaining days 78), soybeans No.2 (b2606, b2606 - P - 3550, trend degree - 37, put - call ratio 0.86, remaining days 52), SSE 50 (IH2606, HO2606 - P - 2800, trend degree - 37, put - call ratio 0.62, remaining days 84) [7] Expiring Options - There are no expiring options on the day [7]

1. Report Industry Investment Rating - No relevant content provided 2. Core Views - For both PG (liquefied gas) and SC (crude oil) options, it's recommended to construct a bull spread combination strategy of call options for directional gains, and due to large geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [7][20] 3. Summary by Relevant Catalogs 3.1 PG (Liquefied Gas) Options - **标的期货市场数据** - The closing price of the pg2605 contract yesterday was 6,759 yuan, up 181 yuan or 2.75% from the previous day. The trading volume was 183,925 lots, a decrease of 35,413 lots from the previous day, and the open interest was 58,866 lots, a decrease of 2,617 lots from the previous day [6] - For the PG (liquefied gas option) in the table, the price was 6,606, down 0.16%, the trading volume was 166,709, and the open interest was 23,836, a decrease of 5,030 [3] - **期权因子 - 量仓PCR** - The trading volume of PG (liquefied gas call options) was 34,993, an increase of 6,746; the open interest was 18,713, a decrease of 13; the trading volume PCR was 0.43, a decrease of 0.04; the open interest PCR was 1.07, an increase of 0.02. The trading volume of PG (liquefied gas put options) was 14,928, an increase of 1,626; the open interest was 20,039, an increase of 291 [4] - The PG option open interest PCR was reported at 1.0546, at the 92.24% level in the past year [6] - **期权因子 - 压力支撑** - The at - the - money strike price of PG (liquefied gas options) was 6,600, the resistance level was 7,500, the support level was 3,400, the weighted implied volatility was 83.35%, a decrease of 3.15%, the annual average implied volatility was 29.18%, and HISV20 was 70.36% [5] - From the perspective of options, the resistance level of the PG option underlying was 7,500, and the support level was 3,400 [6] - **行情解读与策略建议** - The implied volatility of PG (liquefied gas options) fluctuated above the mean of 0.2891 [6] - Directional strategy: Construct a bull spread combination strategy of call options to obtain directional gains. Volatility strategy: Due to large geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [7] 3.2 SC (Crude Oil) Options - **标的期货市场数据** - The closing price of the sc2605 contract yesterday was 740.8 yuan, up 12.4 yuan or 1.70% from the previous day. The trading volume was 95,496 lots, a decrease of 1,150 lots from the previous day, and the open interest was 52,438 lots, a decrease of 600 lots from the previous day [19] - For the SC (crude oil option) in the table, there are some unclear data, but it shows a 10% change [16] - **期权因子 - 量仓PCR** - The trading volume of SC (crude oil call options) was 133,810, an increase of 23,806; the open interest was 68,336, a decrease of 496; the trading volume PCR was 0.61, a decrease of 0.02; the open interest PCR was 1.38, an increase of 0.1. The trading volume of SC (crude oil put options) was 81,770, an increase of 12,102; the open interest was 94,366, an increase of 5,932 [17] - The SC option open interest PCR was reported at 1.2848, at the 89.80% level in the past year [19] - **期权因子 - 压力支撑** - The at - the - money strike price of SC (crude oil options) was 760, the resistance level was 940, the support level was 500, the weighted implied volatility was 113.69%, an increase of 1.25%, the annual average implied volatility was 45.22%, and HISV20 was 66.47% [18] - From the perspective of options, the resistance level of the SC option underlying was 940, and the support level was 500 [19] - **行情解读与策略建议** - The implied volatility of SC (crude oil options) fluctuated above the mean of 0.4486 [19] - Directional strategy: Construct a bull spread combination strategy of call options to obtain directional gains. Volatility strategy: Due to large geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [20]

Group 1 - The current market sentiment indicates a lack of clear direction, with precious metals not performing as expected despite global turmoil, suggesting it may not be the right time to invest [1] - Oil positions have been cleared due to uncertainty surrounding U.S. actions and geopolitical tensions, leading to a cautious approach in re-entering the market [1] - The U.S. stock market is undergoing a significant adjustment, and the A-share market is also viewed as unfavorable, with no clear opportunities arising from military spending announcements [1] Group 2 - There is speculation that agricultural products may see price increases, indicating potential investment opportunities in this sector [1] - Some analysts suggest investing in chemical products and raw materials as a strategy to capitalize on expected price hikes [4] - The overall sentiment in the capital markets reflects a lack of confidence in the analysis of the ongoing war, with many traders feeling uninformed about the potential outcomes [9]

Report Information - Report Date: 2026-03-30 [3] - Authors: Li Liqin (Investment Research Senior Manager), Huang Kehan (Options Researcher) [2] - Contact Information: Email: lilq@wkqh.cn, huangkh@wkqh.cn; Phone: 0755 - 23375252 [2] PG (Liquefied Gas) Options Market Data - Underlying Contract: pq2605 - Closing Price: 6759 - Price Change: 181 - Percentage Change: 2.75% - Trading Volume (10,000 lots): 183925 - Volume Change: -35413 - Open Interest (10,000 lots): 28866 - Open Interest Change: -2617 [4] Option Factor - Volume and Open Interest PCR - Call Option Volume: 28247 - Call Option Volume Change: -6376 - Call Option Open Interest: 18726 - Call Option Open Interest Change: 470 - Put Option Volume: 13302 - Put Option Volume Change: -660 - Put Option Open Interest: 19748 - Put Option Open Interest Change: 212 - Volume PCR: 0.47 - Volume PCR Change: 0.07 - Open Interest PCR: 1.05 - Open Interest PCR Change: -0.02 [5] Option Factor - Pressure and Support - Pressure Level: 7500 - Support Level: 3400 - Weighted Implied Volatility: 86.50% - Implied Volatility Change: 1.67% [6] Market Analysis and Strategy Recommendations - Yesterday's Closing Price of pg2605: 6541 yuan, down 53 yuan (-0.80%) from the previous day - Trading Volume: 219338 lots, a decrease of 144943 lots from the previous day - Position Transfer Volume: 61483 lots, a decrease of 4880 lots from the previous day - Implied Volatility of PG Options: Fluctuating above the average of 0.2863 - Open Interest PCR of PG Options: 1.0701, at the 93.88% level in the past year - Pressure Level: 7500 - Support Level: 3400 - Directional Strategy: Construct a bull spread strategy with call options to obtain directional returns - Volatility Strategy: Due to high geopolitical risks, strategies based on selling (such as single selling and double selling) are not recommended [7][8] SC (Crude Oil) Options Market Data - Underlying Contract: sc2605 - Closing Price: 740.8 - Price Change: i (unclear) - Percentage Change: 70% (unclear) - Trading Volume (10,000 lots): 95496 - Volume Change: ro ı (unclear) - Open Interest (10,000 lots): 52438 - Open Interest Change: -600 [16] Option Factor - Volume and Open Interest PCR - Call Option Volume: 110004 - Call Option Volume Change: -2488 - Call Option Open Interest: 68832 - Call Option Open Interest Change: 476 - Put Option Volume: 69668 - Put Option Volume Change: -5376 - Put Option Open Interest: 88434 - Put Option Open Interest Change: 1576 - Volume PCR: 0.63 - Volume PCR Change: -0.03 - Open Interest PCR: 1.28 - Open Interest PCR Change: 0.01 [17] Option Factor - Pressure and Support - Pressure Level: 940 - Support Level: 500 - Weighted Implied Volatility: 44.86% - Implied Volatility Change: 3.43% [18] Market Analysis and Strategy Recommendations - Yesterday's Closing Price of sc2605: 733.1 yuan, up 5.9 yuan (0.81%) from the previous day - Trading Volume: 96646 lots, no change from the previous day - Open Interest: 53038 lots, a decrease of 1367 lots from the previous day - Implied Volatility of SC Options: Fluctuating above the average of 0.4451 - Open Interest PCR of SC Options: 1.2707, at the 89.39% level in the past year - Pressure Level: 940 - Support Level: 500 - Directional Strategy: Construct a bull spread strategy with call options to obtain directional returns - Volatility Strategy: Due to high geopolitical risks, strategies based on selling (such as single selling and double selling) are not recommended [19][20]

Group 1: Volatility Index Explanation - The implied volatility index of financial options reflects the 30 - day implied volatility trend as of the previous trading day. The implied volatility index of commodity options is obtained by weighting the implied volatilities of the two - strike options above and below the at - the - money option of the main contract month, reflecting the implied volatility change trend of the main contract [1] - The difference between the implied volatility index and historical volatility indicates the relative level of implied volatility compared to historical volatility. A larger difference means the implied volatility is relatively higher, and a smaller difference means it is relatively lower [1] Group 2: Implied Volatility Quantile Explanation - The implied volatility quantile represents the current level of a variety's implied volatility in history. A high quantile means the current implied volatility is high, and a low quantile means it is low [3] - Volatility spread is the implied volatility index minus historical volatility [3]

Group 1: Report General Information - Report date: March 27, 2026 [1][3] - Authors: Li Liqin (Senior Manager of Investment Research), Huang Kehan (Options Researcher) [2] - Contact information: Email: lilq@wkqh.cn, huangkh@wkqh.cn; Phone: 0755 - 23375252 [2] Group 2: Liquefied Petroleum Gas (PG) Options 2.1. Futures Market Data - PG (Liquefied Petroleum Gas) options, underlying contract pg2605, closing price 6541, change 0.80%, trading volume 219,338, open interest 144,943, change -4,880 [4] 2.2. Option Factors - Volume and Open Interest PCR - PG (Liquefied Petroleum Gas) call options: trading volume 34,623, change -7,478; open interest 18,256, change 1,722; volume PCR 0.4, change -0.43; open interest PCR 1.07, change -0.09 [5] - PG (Liquefied Petroleum Gas) put options: trading volume 13,962, change -21,236; open interest 19,536, change 340 [5] 2.3. Option Factors - Pressure and Support - PG (Liquefied Petroleum Gas) options, underlying contract pg2605, at - the - money strike price 6500, resistance level 7500, support level 3400, weighted implied volatility 84.83%, change -5.15%, annual average implied volatility 28.63%, HISV20 70.64% [6] 2.4. Market Analysis and Strategy Recommendations - Market analysis: pg2605 contract closed at 6550 yuan yesterday, down 571 yuan or 8.01% from the previous day; trading volume 364,281 lots, down 184,489 lots; open interest 66,363 lots, up 1018 lots; implied volatility of PG options fluctuates above the mean of 0.0000; open interest PCR of PG options is 1.161, at the 97.14% level in the past year; resistance level is 7500, support level is 3400 [7] - Strategy recommendations: Directional strategy - Construct a bull spread strategy of call options to obtain directional returns; Volatility strategy - Due to high geopolitical risks, strategies based on selling (such as single - selling and double - selling) are not recommended [8] Group 3: Crude Oil (SC) Options 3.1. Futures Market Data - SC (Crude Oil) options, underlying contract sc2605, closing price 733.1, change 0.81%, trading volume 96,646, open interest 53,038, change -1,367 [16] 3.2. Option Factors - Volume and Open Interest PCR - SC (Crude Oil) call options: trading volume 112,492, change -17,668; open interest 85,358, change 3,094; volume PCR 0.67, change -0.16; open interest PCR 1.27, change -0.02 [17] - SC (Crude Oil) put options: trading volume 75,044, change -32,904; open interest 86,858, change 2,672 [17] 3.3. Option Factors - Pressure and Support - SC (Crude Oil) options, underlying contract sc2605, at - the - money strike price 730, resistance level 940, support level 500, weighted implied volatility 109.01%, change 1.13%, annual average implied volatility 44.51%, HISV20 73.83% [18] 3.4. Market Analysis and Strategy Recommendations - Market analysis: sc2605 contract closed at 723.9 yuan yesterday, down 28 yuan or 3.72% from the previous day; trading volume 143,986 lots, down 64,085 lots; transfer volume 54,405 lots, down 1,289 lots; implied volatility of SC options fluctuates above the mean of 0.0000; open interest PCR of SC options is 1.29, at the 90.20% level in the past year; resistance level is 940, support level is 500 [19] - Strategy recommendations: Directional strategy - Construct a bull spread strategy of call options to obtain directional returns; Volatility strategy - Due to high geopolitical risks, strategies based on selling (such as single - selling and double - selling) are not recommended [20]

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core View of the Report - The report presents the daily data of commodity options on March 25, 2026, including option quotes, positions, position put - call ratios (PCR), trading volume PCR, daily selections, and near - expiration options [1][2][5][6][7][8][9] Group 3: Summary by Directory Option Quotes - For call options, tin had the highest daily increase of 173.43%, followed by silver (44.54%), copper (32.25%), etc. For put options, soybeans No.1 had a daily increase of 85.45%, p - xylene 81.80%, and ethylene glycol 54.60% [1] Option Positions - In call options, glass had the largest daily change in position of 18,336, followed by coking coal (14,436) and soybean meal (11,830). In put options, lithium carbonate had a daily change of 9,219, methanol 7,659, and fuel oil 7,363 [2] Option Position Put - Call Ratio (PCR) - High - position PCR varieties included fuel oil (2.0307), p - xylene (1.5707), and short - fiber (1.5258). Low - position PCR varieties included live hogs (0.1924), red dates (0.244), and coking coal (0.368) [5] Option Trading Volume Put - Call Ratio (PCR) - High - trading volume PCR varieties included short - fiber (5.7926), propylene (1.8022), and polypropylene (1.5394). Low - trading volume PCR varieties included coking coal (0.1851), red dates (0.1967), and soda ash (0.217) [6] Daily Selections - Call options: synthetic rubber, coking coal, ferrosilicon, etc. were selected, with trend degrees mostly around 50 and different put - call ratios and remaining days. Put options: aluminum, gold, SSE 50, etc. were selected, with negative trend degrees and corresponding put - call ratios and remaining days [7] Near - Expiration Options - For call options, apples, red dates, p - xylene, etc. were listed, showing the remaining days, option closing prices, underlying settlement prices, break - even points, and target prices and increases for option doubling. For put options, similar information for various varieties was provided, including break - even points and target prices and decreases for option doubling [8][9]

Report Summary 1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints - For PG (Liquefied Gas) options, the pg2604 contract closed at 7281 yuan yesterday, up 721 yuan or 10.99% from the previous day. The implied volatility of PG options fluctuates above the mean of 0.2771. The PG option's open interest PCR is at 0.9665, at the 89.80% level in the past year. The pressure level is 7500, and the support level is 3400 [7]. - For SC (Crude Oil) options, the sc2605 contract closed at 834.6 yuan yesterday, up 58.2 yuan or 7.49% from the previous day. The implied volatility of SC options fluctuates above the mean of 0.4350. The SC option's open interest PCR is at 1.5055, at the 95.51% level in the past year. The pressure level is 940, and the support level is 500 [20]. 3. Summary by Relevant Catalogs 3.1. PG (Liquefied Gas) Options - **标的期货市场数据**: The pa2604 contract of PG options closed at 7281 yuan, up 77 yuan or 10.99%. The trading volume was 150713 lots, a decrease of 78129 lots from the previous day, and the open interest was 19616 lots, a decrease of 188 lots [4]. - **期权因子 - 量仓PCR**: The trading volume of PG (Liquefied Gas Call Options) was 52057 lots, a decrease of 4563 lots, and the open interest was 14657 lots, an increase of 4433 lots. The trading volume PCR was 0.28, and the open interest PCR was 0.97, a decrease of 0.03 [5]. - **期权因子 - 压力支撑**: For the pg2605 contract of PG options, the at - the - money strike price was 7200, the pressure level was 7500, the support level was 3400, the weighted implied volatility was 121.90%, an increase of 41.62%, the annual average implied volatility was 27.71%, and HISV20 was 61.92% [6]. - **行情解读与策略建议**: - **标的行情解析及期权因子研究**: As mentioned in the core viewpoints [7]. - **期权策略建议**: Construct a call option bull spread combination strategy for directional gains. Due to high geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [8]. 3.2. SC (Crude Oil) Options - **标的期货市场数据**: The sc2605 contract of SC options closed at 834.6 yuan, up 58.2 yuan or 7.49%. The trading volume was 140734 lots, a decrease of 37480 lots from the previous day, and the open interest was 56999 lots, a decrease of 1101 lots [17]. - **期权因子 - 量仓PCR**: The trading volume of SC (Crude Oil Call Options) was 124114 lots, a decrease of 16922 lots, and the open interest was 52016 lots, a decrease of 874 lots. The trading volume PCR was 0.58, a decrease of 0.16, and the open interest PCR was 1.51, an increase of 0.09 [18]. - **期权因子 - 压力支撑**: For the sc2605 contract of SC options, the at - the - money strike price was 830, the pressure level was 940, the support level was 500, the weighted implied volatility was 113.52%, an increase of 9.91%, the annual average implied volatility was 43.50%, and HISV20 was 90.38% [19]. - **行情解读与策略建议**: - **标的行情解析及期权因子研究**: As mentioned in the core viewpoints [20]. - **期权策略建议**: Construct a call option bull spread combination strategy for directional gains. Due to high geopolitical risks, strategies mainly based on sellers (such as single - selling and double - selling) are not recommended [21].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report No relevant content provided. 3. Summary by Directory 3.1 Market Overview - The trading volume of the entire market this week was 9,012,194.8, a decrease of 0.88% from last week; the open interest was 9,470,619.0, an increase of 0.04% from last week. Among them, the trading volume of agricultural products decreased by 0.97%, energy and chemical products decreased by 1.45%, black products decreased by 0.36%, precious metals increased by 3.71%, and non - ferrous and new energy products increased by 1.36% [4]. 3.2 Market Data 3.2.1 Market Overview - Lists the flat - value volatility, 60 - day quantile, Skew, and 60 - day quantile of various commodity options, such as the flat - value volatility of corn options is 12.54%, and the Skew is 34.99% [7]. 3.2.2 - 3.2.61 Various Commodity Options - For each type of commodity option (such as corn, soybean meal, etc.), it provides detailed data including the closing price, trading volume, open interest, volume PCR, open interest PCR, flat - value volatility, HV - 10 days, HV - 20 days, and Skew of the main and secondary contracts, as well as the overall contract data. For example, for soybean meal options, the main contract m2605 had a closing price of 3029 this week, a decrease of 99 from last week; the trading volume of call options this week was 276,811, a decrease of 221,158 from last week [8][9].