股指期权日报 | 2025-10-10 股指期权日报 股指期权市场概况 期权成交量 2025-10-09，上证50ETF期权成交量为81.95万张；沪深300ETF期权（沪市）成交量为95.65万张； 中证500ETF期权（沪市）成交量为121.41万张；深证100ETF期权成交量为4.68万张； 创业板ETF期权成交量为196.19万张；上证50股指期权成交量为10.36万张； 沪深300股指期权成交量为11.71万张；中证1000期权总成交量为30.05万张。 期权PCR 上证50ETF期权成交额PCR报0.41，环比变动为-0.04；持仓量PCR报0.86，环比变动为+0.06； 沪深300ETF期权（沪市）成交额PCR报0.38，环比变动为-0.04；持仓量PCR报1.18，环比变动为+0.10； 中证500ETF期权（沪市）成交额PCR报0.44，环比变动为-0.07；持仓量PCR报1.45，环比变动为+0.14 ； 深圳100ETF期权成交额PCR报0.56 ，环比变动为-0.15；持仓量PCR报1.24；环比变动为+0.06； 创业板ETF期权成交额PCR报0.52，环比变动为-0.10 ；持仓 ...

股指期权日报 | 2025-10-09 股指期权日报 股指期权市场概况 期权成交量 2025-09-30，上证50ETF期权成交量为147.37万张；沪深300ETF期权（沪市）成交量为144.72万张； 中证500ETF期权（沪市）成交量为152.95万张；深证100ETF期权成交量为12.79万张； 创业板ETF期权成交量为137.49万张；上证50股指期权成交量为5.18万张； 沪深300股指期权成交量为17.60万张；中证1000期权总成交量为26.77万张。 期权PCR 上证50ETF期权成交额PCR报0.45，环比变动为-0.03；持仓量PCR报0.80，环比变动为+0.01； 沪深300ETF期权（沪市）成交额PCR报0.42，环比变动为-0.05；持仓量PCR报1.08，环比变动为+0.01； 中证500ETF期权（沪市）成交额PCR报0.51，环比变动为-0.12；持仓量PCR报1.31，环比变动为+0.03 ； 深圳100ETF期权成交额PCR报0.71 ，环比变动为-0.01；持仓量PCR报1.18；环比变动为+0.01； 创业板ETF期权成交额PCR报0.62，环比变动为+0.03 ； ...

以下文章来源于发鹏期权说 ，作者发鹏期权说 发鹏期权说 . 基于自己多年专注于期权的理论与实践，记录、分享、讨论、总结不限于ETF期权的期权交易经验与期权策略方法，以求与读者共同提高投资交易能力。 文 | 发鹏期权说 来源 | 发鹏期权说 编辑 | 杨兰 审核 | 浦电路交易员 双节长假归来，贵金属成为跨节海外交易中的最"焦点"。A50指数海外交易的不温不火，并未影响A股权益指数节后首日的气氛。截止笔者 撰写本文的午休时刻，主要指数都是大阳线，科创50指数高位再度暴涨超过5%，最弱的上证50指数涨幅也超过1 %。 不过今天期权市场发生了一件对期权新玩家来说很奇怪的"怪事"。即指数大涨之下，指数看涨期权表现却很差。比如科创50指数暴涨超过 5%的情况下，竟然看不到翻倍的看涨期权。比如沪深300指数涨幅接近2%，虚值期权却大跌。 | 2 | 510300 | 沪深300ETF | 4.823 0.082 | | 1.73% 4.754 | | 4.836 | 4.750 | 5.674Z | 27.18亿 | 99.35万 | 128.07万 | 82.84% | | --- | --- | --- | --- ...

Group 1 - The core viewpoint of the article is that qualified foreign institutional investors (QFIIs) are now allowed to participate in ETF options trading starting from October 9, 2023, which is expected to enhance foreign investment in the A-share market [1][3][4] - The China Securities Regulatory Commission (CSRC) has progressively relaxed restrictions on QFIIs' participation in domestic commodity futures, options, and ETF options, aiming to expand their investment scope and improve the stability of foreign investment behavior [1][6] - The Shanghai and Shenzhen Stock Exchanges have issued notifications to accept applications from QFIIs for stock options trading, with specific requirements for hedging purposes [3][4] Group 2 - QFIIs can apply for long and short hedging positions and must report their A-share accounts through authorized options operating institutions before opening corresponding derivative accounts [3][4] - The introduction of ETF options is seen as a significant tool for risk management, which is expected to attract more long-term capital into the A-share market [6][7] - The article highlights that major foreign institutions have been actively investing in ETFs, with Barclays Bank holding over 19.2 billion yuan in listed funds, indicating a growing trend of foreign capital entering the Chinese market through ETFs [7][8]

股指期权日报 | 2025-09-30 股指期权日报 股指期权市场概况 期权成交量 2025-09-29，上证50ETF期权成交量为78.82万张；沪深300ETF期权（沪市）成交量为93.73万张； 中证500ETF期权（沪市）成交量为144.35万张；深证100ETF期权成交量为12.45万张； 创业板ETF期权成交量为178.77万张；上证50股指期权成交量为11.74万张； 沪深300股指期权成交量为10.64万张；中证1000期权总成交量为30.66万张。 期权PCR 上证50ETF期权成交额PCR报0.48，环比变动为-0.19；持仓量PCR报0.79，环比变动为+0.01； 沪深300ETF期权（沪市）成交额PCR报0.47，环比变动为-0.16；持仓量PCR报1.08，环比变动为-0.03； 中证500ETF期权（沪市）成交额PCR报0.63，环比变动为-0.25；持仓量PCR报1.28，环比变动为-0.04 ； 深圳100ETF期权成交额PCR报0.73 ，环比变动为+0.03；持仓量PCR报1.16；环比变动为-0.02； 创业板ETF期权成交额PCR报0.59，环比变动为-0.15 ；持 ...

Report Summary 1. Investment Rating The provided content does not contain information about the industry investment rating. 2. Core View 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 index options on September 26, 2025. 3. Section Summaries Option Trading Volume - On September 26, 2025, the trading volumes were as follows: 883,800 contracts for SSE 50 ETF options, 1,061,000 for CSI 300 ETF options (Shanghai market), 1,492,600 for CSI 500 ETF options (Shanghai market), 69,200 for Shenzhen 100 ETF options, 1,769,800 for ChiNext ETF options, 43,800 for SSE 50 index options, 134,200 for CSI 300 index options, and 282,500 for CSI 1000 options [1]. - The table also shows the call, put, and total trading volumes for each option type [20]. Option PCR - The report provides the turnover PCR and position PCR, along with their环比 changes, for different index options. For example, the turnover PCR of SSE 50 ETF options was 0.67 with a +0.07环比 change, and the position PCR was 0.79 with a -0.01环比 change [2][30]. Option VIX - The VIX values and their环比 changes are reported for each option type. For instance, the VIX of SSE 50 ETF options was 16.81% with a +0.29%环比 change [3][42].

Report Industry Investment Rating - Not mentioned in the provided content Core Viewpoints - The report presents the trading data of various index options on September 25, 2025, including option volume, PCR, and VIX, which helps investors understand the market conditions and sentiment of index options [1][2][3] Summary by Related Catalogs Option Volume - On September 25, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1.1772 million contracts; the trading volume of Shanghai Stock Exchange 300 ETF options (Shanghai market) was 1.2981 million contracts; the trading volume of China Securities 500 ETF options (Shanghai market) was 2.273 million contracts; the trading volume of Shenzhen 100 ETF options was 0.1449 million contracts; the trading volume of ChiNext ETF options was 1.9582 million contracts; the trading volume of Shanghai Stock Exchange 50 index options was 0.0543 million contracts; the trading volume of Shanghai Stock Exchange 300 index options was 0.1098 million contracts; the total trading volume of China Securities 1000 options was 0.2291 million contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on September 25, 2025, such as the total trading volume of Shanghai Stock Exchange 50 ETF options was 0.8838 million contracts [20] Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.59, with a month - on - month change of - 0.09; the position PCR was reported at 0.79, with a month - on - month change of + 0.01. Similar data were provided for other types of options [2] - The table shows the turnover PCR, month - on - month change, position PCR, and month - on - month change of various index ETF options on September 25, 2025 [28] Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 16.53%, with a month - on - month change of - 1.15%. Similar data were provided for other types of options [3] - The table shows the VIX and month - on - month change values of various index ETF options on September 25, 2025 [42]

Report Industry Investment Rating No relevant content provided. Core Viewpoints No relevant content provided. Summary by Directory Option Trading Volume - On September 23, 2025, the trading volume of SSE 50 ETF options was 1.1104 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 0.9962 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1.6188 million contracts; the trading volume of Shenzhen 100 ETF options was 0.142 million contracts; the trading volume of ChiNext ETF options was 3.1791 million contracts; the trading volume of SSE 50 index options was 0.0667 million contracts; the trading volume of CSI 300 index options was 0.0855 million contracts; the total trading volume of CSI 1000 options was 0.3566 million contracts [1]. - The table shows the call, put and total trading volumes of various index ETF options on the same day, such as the total trading volume of SSE 50 ETF options was 1.4543 million contracts, with 0.7932 million call contracts and 0.6611 million put contracts [21]. Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.90, with a month - on - month change of +0.04; the position PCR was reported at 0.74, with a month - on - month change of +0.01. Similar data for other options are also provided, including CSI 300 ETF options (Shanghai market), CSI 500 ETF options (Shanghai market), etc. [2][34]. Option VIX - The VIX of SSE 50 ETF options was reported at 18.22%, with a month - on - month change of - 0.31%. For other options like CSI 300 ETF options (Shanghai market), CSI 500 ETF options (Shanghai market), etc., their VIX values and month - on - month changes are also presented [3][47].

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoint No core viewpoint was presented in the provided content. 3. Summary by Directory Option Trading Volume - On September 22, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1546800 contracts; the trading volume of Shanghai Stock Exchange 300 ETF options (Shanghai market) was 1840300 contracts; the trading volume of Shanghai Stock Exchange 500 ETF options (Shanghai market) was 2478700 contracts; the trading volume of Shenzhen 100 ETF options was 161100 contracts; the trading volume of GEM ETF options was 2011400 contracts; the trading volume of Shanghai Stock Exchange 50 index options was 48000 contracts; the trading volume of Shanghai Stock Exchange 300 index options was 188700 contracts; the total trading volume of CSI 1000 options was 197900 contracts [1]. - The detailed trading volume data for call, put, and total options of different types are presented in Table 1, such as the total trading volume of Shanghai Stock Exchange 50 ETF options was 1110400 contracts, with 640700 call contracts and 469600 put contracts [20]. Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.86, with a month - on - month change of - 0.05; the position PCR was reported at 0.73, with a month - on - month change of - 0.03. Similar data for other types of options are also provided, like the turnover PCR of Shanghai Stock Exchange 300 ETF options (Shanghai market) was 0.67, with a month - on - month change of - 0.16; the position PCR was 1.11, with a month - on - month change of - 0.04 [2][34]. Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 18.53%, with a month - on - month change of - 0.18%. The VIX of Shanghai Stock Exchange 300 ETF options (Shanghai market) was 19.86%, with a month - on - month change of + 0.18%. Similar data for other types of options are presented, such as the VIX of Shenzhen 100 ETF options was 26.83%, with a month - on - month change of + 0.55% [3][49].

Report Information - Report Name: Pioneer Futures Options Daily Report - Date: September 19, 2025 [1] Option Underlying Volatility Ranking - The table shows the rankings of options underlying based on implied volatility, 30 - day historical volatility, and daily true volatility. For example, ps2511 ranks 1st in implied volatility with 2.8%, 3rd in 30 - day historical volatility with 2.7%, and 2nd in daily true volatility with 4.1% [3]. - Different types of volatility have different implications. Implied volatility reflects market expectations of future fluctuations, historical volatility shows past actual fluctuations, and daily true volatility reflects intraday fluctuations [5]. Directory Summary 1. Shanghai Stock Exchange Options 1.1 Shanghai 50ETF - **Basic Information**: The trading volume of the main options is 716,056 lots, the open interest is 1,102,732 lots, the volume ratio of call to put options is 1.48, and the weighted average implied volatility is 20.23% [18][20]. - **Volatility Trading**: Suggest selling options with curves or points above and buying those below, both for different months and the same month [22]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 27.0% at the settlement price and 3.21% at the counter - price [27][29]. 1.2 Huatai - Baoying CSI 300ETF - **Basic Information**: The trading volume of the main options is 825,706 lots, the open interest is 820,000 lots, the volume ratio of call to put options is 1.07, and the weighted average implied volatility is 18.79% [30][32]. - **Volatility Trading**: Similar to the Shanghai 50ETF, sell options with curves or points above and buy those below [34]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 38.2% at the settlement price and 9.20% at the counter - price [38][39]. 1.3 Southern CSI 500ETF - **Basic Information**: The trading volume of the main options is 1,397,764 lots, the open interest is 804,791 lots, the volume ratio of call to put options is 1.16, and the weighted average implied volatility is 24.57% [40][42]. - **Volatility Trading**: Follow the rule of selling options with curves or points above and buying those below [46]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 66.2% at the settlement price and 7.81% at the counter - price [49][51]. 1.4 Huaxia Shanghai Science and Technology Innovation 50ETF - **Basic Information**: The trading volume of the main options is 1,352,162 lots, the open interest is 1,423,629 lots, the volume ratio of call to put options is 1.39, and the weighted average implied volatility is 45.76% [52][54]. - **Volatility Trading**: Adopt the strategy of selling options with curves or points above and buying those below [57]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 50.4% at the settlement price and 18.4% at the counter - price [61][62]. 1.5 E Fund Shanghai Science and Technology Innovation 50ETF - **Basic Information**: The trading volume of the main options is 265,534 lots, the open interest is 407,239 lots, the volume ratio of call to put options is 1.62, and the weighted average implied volatility is 47.01% [63][65]. - **Volatility Trading**: Sell options with curves or points above and buy those below [67]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 82.0% at the settlement price and 19.7% at the counter - price [71][73]. 2. Shenzhen Stock Exchange Options 2.1 Harvest CSI 300ETF - **Basic Information**: The trading volume of the main options is 186,149 lots, the open interest is 221,074 lots, the volume ratio of call to put options is 1.39, and the weighted average implied volatility is 21.04% [74][77]. - **Volatility Trading**: Sell options with curves or points above and buy those below [79]. - **Risk - free Arbitrage**: The minimum annualized return of the optimal arbitrage portfolio held to maturity is 26.2% at the settlement price and 3.92% at the counter - price [83][85]. 2.2 E Fund ChiNext ETF - **Basic Information**: The document provides detailed option prices at different strike prices, but specific overall trading volume, open interest, etc. are not further summarized here [86]. - **Volatility Trading**: There is no additional information provided in the given text. - **Risk - free Arbitrage**: There is no relevant information provided in the given text.