股指期权日报 | 2025-08-27 股指期权日报 上证50ETF期权成交额PCR报0.39，环比变动为+0.07；持仓量PCR报1.15，环比变动为-0.01； 沪深300ETF期权（沪市）成交额PCR报0.29，环比变动为+0.03；持仓量PCR报1.29，环比变动为-0.04； 中证500ETF期权（沪市）成交额PCR报0.39，环比变动为+0.05；持仓量PCR报1.53，环比变动为+0.08 ； 深圳100ETF期权成交额PCR报0.48 ，环比变动为+0.07；持仓量PCR报1.48；环比变动为+0.04； 创业板ETF期权成交额PCR报0.28，环比变动为+0.03 ；持仓量PCR报1.45，环比变动为-0.06； 上证50股指期权成交额PCR报0.19，环比变动为+0.03；持仓量PCR报0.63，环比变动为+0.02； 沪深300股指期权成交额PCR报0.23 ，环比变动为+0.05；持仓量PCR报0.83，环比变动为-0.02； 中证1000股指期权成交额PCR报0.35，环比变动为+0.02；持仓量PCR报1.17，环比变动为+0.02。 期权VIX 上证50ETF期权VIX报25.3 ...

股指期权日报 | 2025-08-26 股指期权日报 股指期权市场概况 期权成交量 2025-08-25，上证50ETF期权成交量为217.09万张；沪深300ETF期权（沪市）成交量为194.47万张； 中证500ETF期权（沪市）成交量为247.96万张；深证100ETF期权成交量为17.55万张； 创业板ETF期权成交量为387.11万张；上证50股指期权成交量为9.12万张； 沪深300股指期权成交量为15.14万张；中证1000期权总成交量为35.80万张。 期权PCR 上证50ETF期权成交额PCR报0.32，环比变动为+0.00；持仓量PCR报1.16，环比变动为-0.04； 沪深300ETF期权（沪市）成交额PCR报0.25，环比变动为-0.07；持仓量PCR报1.33，环比变动为+0.00； 中证500ETF期权（沪市）成交额PCR报0.34，环比变动为-0.06；持仓量PCR报1.45，环比变动为-0.05 ； 深圳100ETF期权成交额PCR报0.41 ，环比变动为-0.15；持仓量PCR报1.43；环比变动为+0.02； 创业板ETF期权成交额PCR报0.25，环比变动为-0.05 ； ...

金融期权周报 I 2025/08/18—2025/08/22 隐波上升，情绪持续升温 本周摘要 路智名 从业资格证号：F03124116 金融期权方面，50ETF 期权本周日均成交量为 190.67 万 张，较前周上升 20.55%，其中认沽期权成交量低于认购期权， 认沽-认购成交比为 0.64，相对前周有所下降，低于历史均值水 平。上周认沽认购持仓比为 1.19，较前周上升，高于历史均值。 华泰柏瑞 300ETF 期权日均成交 186.24 万张，日均持仓量 151.78 万张；南方中证 500ETF 期权日均成交 238.46 万张，日 均持仓量 150.08 万张；华夏上证科创 50ETF 期权日均成交 217.47 万张，日均持仓量 208.11 万张；深证 100ETF 期权日均 成交 18.99 万张，日均持仓量 16.4 万张；创业板 ETF 期权日均 成交 290.74 万张，日均持仓量 192.49 万张；沪深 300 股指期权 日均成交 13.46 万手，日均持仓量 16.2 万手；中证 1000 股指期 权日均成交 31.7 万手，日均持仓 25.3 万手。 波动率方面，截止本周五收盘， ...

Report Summary 1. Report Industry Investment Rating There is no information provided regarding the report's industry investment rating. 2. Core Viewpoint The report presents an overview of the stock index options market on August 22, 2025, including option trading volume, PCR (Put-Call Ratio), and VIX (Volatility Index), offering data for various types of stock index options [1][2][3]. 3. Summary by Directory Option Trading Volume - On August 22, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1.4943 million contracts; that of Shanghai Stock Exchange 300 ETF options was 1.5079 million contracts; that of Shanghai Stock Exchange 500 ETF options was 2.1288 million contracts; that of Shenzhen 100 ETF options was 0.1825 million contracts; that of ChiNext ETF options was 3.2767 million contracts; that of Shanghai Stock Exchange 50 stock index options was 0.0685 million contracts; that of Shanghai Stock Exchange 300 stock index options was 0.1119 million contracts; and that of China Securities 1000 options was 0.2898 million contracts [1]. - The table shows the call, put, and total trading volumes of various stock index ETF options on the same day [19]. Option PCR - The trading volume PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.32, with a month-on-month change of -0.09; the position PCR was reported at 1.20, with a month-on-month change of +0.14. Similar data for other options are also provided, including Shanghai Stock Exchange 300 ETF options, Shanghai Stock Exchange 500 ETF options, Shenzhen 100 ETF options, ChiNext ETF options, Shanghai Stock Exchange 50 stock index options, Shanghai Stock Exchange 300 stock index options, and China Securities 1000 stock index options [2]. - The table details the trading volume PCR, month-on-month change, position PCR, and month-on-month change of various stock index ETF options [35]. Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 22.14%, with a month-on-month change of +1.26%; the VIX of Shanghai Stock Exchange 300 ETF options was reported at 20.44%, with a month-on-month change of +0.55%. Similar data for other options are also provided, including Shanghai Stock Exchange 500 ETF options, Shenzhen 100 ETF options, ChiNext ETF options, Shanghai Stock Exchange 50 stock index options, Shanghai Stock Exchange 300 stock index options, and China Securities 1000 stock index options [3]. - The table shows the VIX and month-on-month change values of various stock index ETF options [48].

股指期权日报 | 2025-08-22 股指期权日报 股指期权市场概况 期权成交量 2025-08-21，上证50ETF期权成交量为170.93万张；沪深300ETF期权（沪市）成交量为188.74万张； 中证500ETF期权（沪市）成交量为243.17万张；深证100ETF期权成交量为17.68万张； 创业板ETF期权成交量为249.21万张；上证50股指期权成交量为5.05万张； 沪深300股指期权成交量为10.91万张；中证1000期权总成交量为30.82万张。 期权PCR 上证50ETF期权成交额PCR报0.41，环比变动为-0.28；持仓量PCR报1.06，环比变动为+0.03； 沪深300ETF期权（沪市）成交额PCR报0.35，环比变动为-0.22；持仓量PCR报1.22，环比变动为-0.02； 中证500ETF期权（沪市）成交额PCR报0.45，环比变动为-0.05；持仓量PCR报1.35，环比变动为-0.04 ； 深圳100ETF期权成交额PCR报0.42 ，环比变动为-0.28；持仓量PCR报1.40；环比变动为+0.12； 创业板ETF期权成交额PCR报0.41，环比变动为-0.09 ； ...

Report Industry Investment Rating - None provided Core Viewpoint - None provided Summary by Directory 1. Option Trading Volume - On August 20, 2025, the trading volume of SSE 50 ETF options was 1.7557 million contracts; that of CSI 300 ETF options (Shanghai market) was 1.563 million contracts; that of CSI 500 ETF options (Shanghai market) was 2.0703 million contracts; that of Shenzhen 100 ETF options was 0.2175 million contracts; that of ChiNext ETF options was 2.6487 million contracts; that of SSE 50 index options was 0.0458 million contracts; that of CSI 300 index options was 0.0998 million contracts; and that of CSI 1000 options was 0.2751 million contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on the same day, such as 0.8999 million call and 0.8094 million put contracts for SSE 50 ETF options, with a total of 1.7093 million contracts [20] 2. Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.69, with a month - on - month change of +0.10; the open - interest PCR was 1.04, with a month - on - month change of +0.07. Similar data are provided for other types of options [2] - The table presents the turnover PCR, month - on - month change, open - interest PCR, and month - on - month change of various index ETF options [36] 3. Option VIX - The VIX of SSE 50 ETF options was reported at 20.94%, with a month - on - month change of +0.73%. Similar data for other options are also included [3] - The table shows the VIX and month - on - month change values of various index ETF options [49]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs Option Trading Volume - On August 19, 2025, the trading volume of SSE 50 ETF options was 2.0212 million contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 2.0951 million contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 2.5965 million contracts; the trading volume of Shenzhen 100 ETF options was 0.2026 million contracts; the trading volume of ChiNext ETF options was 2.547 million contracts; the trading volume of SSE 50 index options was 0.0458 million contracts; the trading volume of CSI 300 index options was 0.1544 million contracts; and the total trading volume of CSI 1000 options was 0.2682 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 call trading volume of SSE 50 ETF options was 0.9748 million contracts, the put trading volume was 0.7808 million contracts, and the total trading volume was 1.7557 million contracts [20] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.59, with a month - on - month change of +0.19; the open interest PCR was reported at 0.96, with a month - on - month change of - 0.11. Similar data are provided for other types of options [2] - The table presents the turnover PCR, its month - on - month change, open interest PCR, and its month - on - month change for various index ETF options [35] Option VIX - The VIX of SSE 50 ETF options was reported at 20.20%, with a month - on - month change of - 1.44%; the VIX of CSI 300 ETF options (Shanghai market) was reported at 19.91%, with a month - on - month change of - 1.59%. Similar data are provided for other types of options [3] - The table shows the VIX and its month - on - month change value for various index ETF options [48]

Report Summary 1. Investment Rating The report does not provide an industry investment rating. 2. Core View The report suggests that with the decline in the stock index option market and the decrease in volatility, investors can consider selling call options at high prices [1]. 3. Summary of Related Content 3.1 Option Market Data Statistics - **Underlying Market Statistics**: The closing prices of the Shanghai - Shenzhen 300 Index, Shanghai 50 Index, and most ETFs declined, while the closing price of the CSI 1000 Index increased slightly. The trading volumes of most underlying assets decreased, such as the Shanghai - Shenzhen 300 Index with a trading volume of 250.82 billion shares, a decrease of 50.66 billion shares [1]. - **Option Market Statistics**: The trading volumes of various options decreased significantly, while the open - interest of most options increased. For example, the trading volume of CSI 1000 index options was 264,630, a decrease of 94,783, and the open - interest was 256,493, an increase of 17,161. The VL - PCR and OI - PCR of most options showed different degrees of change [1]. 3.2 Option Volatility Statistics - **Near - Month Options**: The implied volatility (ATM - IV) of most options decreased, such as the Shanghai 50 index option with an ATM - IV of 17.77%, a decrease of 1.27%. The historical volatility (HV) also showed different trends, with some increasing and some decreasing [4]. - **Next - Month Options**: The ATM - IV of most next - month options also decreased, for example, the Shanghai 50 index option with an ATM - IV of 18.90%, a decrease of 1.52% [4]. 3.3 Option Index Data Statistics - **Each Option Type**: The report presents multiple charts for each option type, including the full - contract PCR chart, the main - contract skewness chart, the volatility cone chart, and the volatility term - structure chart, which can help investors analyze the market conditions of different options [8][12][15].

股指期权日报 | 2025-08-19 股指期权日报 股指期权市场概况 期权成交量 2025-08-18，上证50ETF期权成交量为187.62万张；沪深300ETF期权（沪市）成交量为182.20万张； 中证500ETF期权（沪市）成交量为234.48万张；深证100ETF期权成交量为17.70万张； 创业板ETF期权成交量为327.28万张；上证50股指期权成交量为5.56万张； 沪深300股指期权成交量为16.05万张；中证1000期权总成交量为35.94万张。 期权PCR 上证50ETF期权成交额PCR报0.40，环比变动为-0.09；持仓量PCR报1.08，环比变动为+0.01； 沪深300ETF期权（沪市）成交额PCR报0.40，环比变动为-0.13；持仓量PCR报1.23，环比变动为+0.05； 中证500ETF期权（沪市）成交额PCR报0.38，环比变动为-0.08；持仓量PCR报1.44，环比变动为+0.03 ； 深圳100ETF期权成交额PCR报0.44 ，环比变动为-0.17；持仓量PCR报1.20；环比变动为-0.12； 创业板ETF期权成交额PCR报0.29，环比变动为-0.05 ； ...

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints of the Report - The stock market shows a bullish upward trend, with the Shanghai Composite Index, large-cap blue-chip stocks, small and medium-cap stocks, and ChiNext stocks all performing well [3]. - The implied volatility of financial options is gradually rising and fluctuating above the mean level [3]. - For ETF options, it is suitable to construct covered strategies, neutral double-selling strategies, and vertical spread combination strategies; for index options, it is suitable to construct neutral double-selling strategies and arbitrage strategies between synthetic long or short options and long or short futures [3]. 3. Summary by Related Catalogs 3.1 Financial Market Important Index Overview - The Shanghai Composite Index closed at 3,696.77, up 30.33 points or 0.83%, with a trading volume of 960.6 billion yuan [4]. - The Shenzhen Component Index closed at 11,634.67, up 183.23 points or 1.60%, with a trading volume of 1,284 billion yuan [4]. - The SSE 50 Index closed at 2,832.88, up 3.41 points or 0.12%, with a trading volume of 142.2 billion yuan [4]. - The CSI 300 Index closed at 4,202.35, up 29.04 points or 0.70%, with a trading volume of 518.7 billion yuan [4]. - The CSI 500 Index closed at 6,568.57, up 138.72 points or 2.16%, with a trading volume of 381.4 billion yuan [4]. - The CSI 1000 Index closed at 7,117.50, up 141.01 points or 2.02%, with a trading volume of 492.5 billion yuan [4]. 3.2 Option Underlying ETF Market Overview - The SSE 50 ETF closed at 2.965, up 0.011 or 0.37%, with a trading volume of 13.5306 million shares and a trading value of 4.004 billion yuan [5]. - The SSE 300 ETF closed at 4.295, up 0.039 or 0.92%, with a trading volume of 10.7183 million shares and a trading value of 4.584 billion yuan [5]. - The SSE 500 ETF closed at 6.658, up 0.144 or 2.21%, with a trading volume of 2.2912 million shares and a trading value of 1.515 billion yuan [5]. - The Huaxia Science and Technology Innovation 50 ETF closed at 1.158, up 0.016 or 1.40%, with a trading volume of 37.0532 million shares and a trading value of 4.258 billion yuan [5]. - The E Fund Science and Technology Innovation 50 ETF closed at 1.131, up 0.018 or 1.62%, with a trading volume of 11.3728 million shares and a trading value of 1.275 billion yuan [5]. - The Shenzhen 300 ETF closed at 4.432, up 0.040 or 0.91%, with a trading volume of 1.8033 million shares and a trading value of 797 million yuan [5]. - The Shenzhen 500 ETF closed at 2.663, up 0.062 or 2.38%, with a trading volume of 986,200 shares and a trading value of 261 million yuan [5]. - The Shenzhen 100 ETF closed at 3.035, up 0.043 or 1.44%, with a trading volume of 345,000 shares and a trading value of 104 million yuan [5]. - The ChiNext ETF closed at 2.509, up 0.063 or 2.58%, with a trading volume of 14.2712 million shares and a trading value of 3.546 billion yuan [5]. 3.3 Option Factor - Volume and Open Interest PCR - The volume PCR and open interest PCR of various options show different trends, which can be used to analyze the strength and turning points of the underlying asset market [6][7]. 3.4 Option Factor - Pressure and Support Points - The pressure and support points of various options are analyzed from the perspective of the strike prices with the largest open interest of call and put options [8][10]. 3.5 Option Factor - Implied Volatility - The implied volatility of various options is calculated, including at-the-money implied volatility and weighted implied volatility, to reflect the market's expectation of future volatility [11][12]. 3.6 Strategy and Recommendations - The financial option sector is divided into large-cap blue-chip stocks, small and medium-cap stocks, and ChiNext stocks, and different option strategies are recommended for each sector [13]. - For each sector, specific option strategies are recommended based on the analysis of the underlying asset market, option factor research, and option strategy suggestions [14][15][16][17].