Report Title - "Commodity Options Weekly Report: Week 33 of 2025" [1] 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The activity level of the commodity options market in the week from August 11 - 15, 2025, was basically flat compared to the previous week. Investors are advised to focus on potential market opportunities in actively - traded varieties [2][9] - The underlying futures of commodity options showed mixed performance this week, with the energy - chemical and non - ferrous sectors mainly rising. Attention should be paid to risks and opportunities based on factors such as price fluctuations, implied volatility, and market sentiment [3][17][18] 3. Summary by Relevant Catalogs 3.1 Commodity Options Market Activity - The average daily trading volume was 8.81 million lots, with a week - on - week increase of 4.19%, and the average daily open interest was 10.2 million lots, with a week - on - week decrease of 18.19% [2][5][9] - Actively - traded varieties in terms of average daily trading volume included glass (1.07 million lots), soda ash (1.06 million lots), and soybean meal (0.6 million lots) [2][5][9] - Five varieties had trading volume growth of over 100%, with significant growth in synthetic rubber (+362%), Shanghai tin (+265%), and apples (+108%). Meanwhile, polycrystalline silicon (-77%), industrial silicon (-66%), and urea (-53%) had obvious trading volume declines [2][9] - Varieties with high average daily open interest were soybean meal (1.07 million lots), glass (0.96 million lots), and soda ash (0.87 million lots). Synthetic rubber (+58%), Shanghai tin (+37%), and p - xylene (+37%) had rapid week - on - week growth in average daily open interest [2][9] 3.2 This Week's Commodity Options Main Data Review 3.2.1 Underlying Price Fluctuations - There were 28 varieties with weekly gains, including lithium carbonate (+12.92%), palm oil (+5.11%), and soda ash (+4.73%); 23 varieties had weekly losses, including methanol (-2.55%), eggs (-2.30%), and logs (-1.87%) [3][17] 3.2.2 Market Volatility - The implied volatility of some commodity options varieties rebounded this week, with 23 varieties having current implied volatility above the 50th percentile of the past year. High - implied - volatility varieties included corn starch, eggs, logs, etc., and short - volatility opportunities were recommended. Low - implied - volatility varieties included non - ferrous metals, precious metals, plastics, etc., where buying options had a higher cost - performance ratio [3][17] 3.2.3 Options Market Sentiment - Varieties such as p - xylene, bottle chips, and soybean meal had a high volume PCR, indicating strong short - term bearish sentiment. Glass, rubber, soda ash, and rapeseed oil had a low volume PCR, showing concentrated short - term bullish sentiment [3][18] - P - xylene, lithium carbonate, and soda ash had a high open - interest PCR, indicating a high level of accumulated bearish sentiment. Nickel, logs, sugar, and rubber had a low open - interest PCR, indicating accumulated bullish sentiment [3][18] 3.3 Key Data Overview of Main Varieties - This chapter presents key data of main varieties, including trading volume, volatility, and options market sentiment indicators. More detailed data can be accessed on the Dongzheng Finoview official website (https://www.finoview.com.cn/) [22]