1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Report's Core View There is no clear core view presented in the provided content. The report mainly presents data on various financial products such as ETFs and indices, including their prices, price changes, implied volatility (IV), IV quantiles, skew indices, and related trends over different time periods. 3. Summary by Related Catalogs 3.1 50ETF - **Price and IV Data**: From February 9 - 11, 2026, the 50ETF price changed from 3.161 to 3.170, with corresponding daily price changes of 1.48%, 0.28%, and 0.00%. The corresponding monthly IVs were 17.21%, 16.27%, and 17.51%, and the next - month IVs were 17.34%, 16.57%, and 16.75% [1]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are provided, with the 1 - year current - month IV quantiles being 77.90%, 69.70%, and 80.40% [1]. - **Skew Index**: The skew index on February 11, 2026, was 91.85, with previous values of 94.71 (yesterday), 92.27 (two days ago), 99.29 (three days ago), and 98.62 (four days ago) [2]. 3.2 Shanghai 300ETF - **Price and IV Data**: From February 6 - 11, 2026, the Shanghai 300ETF price changed, with the price on February 11 being 4.733. The daily price changes and corresponding monthly and next - month IVs are provided. For example, on February 9, the price was 4.727, with a 1.68% change, monthly IV of 16.56%, and next - month IV of 17.06% [3]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are presented, such as the 1 - year current - month IV quantiles being 68.90%, 54.20%, etc. [3]. - **Skew Index**: The skew index on February 6, 2026, was 111.30, with previous values also provided [5]. 3.3 Shenzhen 300ETF - **Price and IV Data**: From February 9 - 11, 2026, the Shenzhen 300ETF price changed from 4.928 to 4.920, with corresponding daily price changes and monthly and next - month IVs. For instance, on February 9, the price change was 1.61%, monthly IV was 18.23%, and next - month IV was 17.91% [6]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are given, like the 1 - year current - month IV quantiles being 78.70%, 69.70%, etc. [6]. - **Skew Index**: The skew index on February 9, 2026, was 107.99, with previous values available [10]. 3.4 Shanghai CSI 500ETF - **Price and IV Data**: From February 9 - 11, 2026, the Shanghai CSI 500ETF price changed from 8.395 to 8.411, with corresponding daily price changes and monthly and next - month IVs. For example, on February 9, the price change was 2.17%, monthly IV was 27.08%, and next - month IV was 26.47% [12]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are provided, such as the 1 - year current - month IV quantiles being 93.40%, 88.50%, etc. [12]. - **Skew Index**: The skew index on February 11, 2026, was 108.27, with previous values also presented [15]. 3.5 Shenzhen CSI 500ETF - **Price and IV Data**: From February 10 - 12, 2026, the Shenzhen CSI 500ETF price changed, with the price on February 12 being 3.338. The daily price changes and corresponding monthly and next - month IVs are shown. For example, on February 10, the price change was - 0.24%, monthly IV was 27.32%, and next - month IV was 26.88% [20]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are given, like the 1 - year current - month IV quantiles being 94.20%, 88.10%, etc. [20]. - **Skew Index**: The skew index on February 10, 2026, was 113.89, with previous values available [27]. 3.6 ChiNext ETF - **Price and IV Data**: From February 9 - 11, 2026, the ChiNext ETF price changed from 3.321 to 3.273, with corresponding daily price changes and monthly and next - month IVs. For instance, on February 9, the price change was 2.85%, monthly IV was 27.90%, and next - month IV was 28.10% [28]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are presented, such as the 1 - year current - month IV quantiles being 66.50%, 64.00%, etc. [28]. - **Skew Index**: The skew index on February 11, 2026, was 97.50, with previous values also provided [34]. 3.7 Shenzhen 100ETF - **Price and IV Data**: From February 9 - 11, 2026, the Shenzhen 100ETF price changed from 3.494 to 3.462, with corresponding daily price changes and monthly and next - month IVs. For example, on February 9, the price change was 1.96%, monthly IV was 22.64%, and next - month IV was 22.48% [38]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are given, like the 1 - year current - month IV quantiles being 75.10%, 68.10%, etc. [38]. - **Skew Index**: The skew index on February 11, 2026, was 106.18, with previous values available [42]. 3.8 Science and Technology Innovation 50ETF - **Price and IV Data**: From February 9 - 11, 2026, the Science and Technology Innovation 50ETF price changed from 1.535 to 1.533, with corresponding daily price changes and monthly and next - month IVs. For instance, on February 9, the price change was 2.40%, monthly IV was 33.05%, and next - month IV was 32.07% [48]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are presented, such as the 1 - year current - month IV quantiles being 67.30%, 67.60%, etc. [48]. - **Skew Index**: The skew index on February 11, 2026, was 95.49, with previous values also provided [50]. 3.9 STAR 50ETF - **Price and IV Data**: From February 9 - 11, 2026, the STAR 50ETF price changed from 1.486 to 1.486, with corresponding daily price changes and monthly and next - month IVs. For example, on February 9, the price change was 2.48%, monthly IV was 34.38%, and next - month IV was 32.88% [54]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are given, like the 1 - year current - month IV quantiles being 62.80%, 62.70%, etc. [54]. - **Skew Index**: The skew index on February 11, 2026, was 92.95, with previous values available [61]. 3.10 300 Index - **Price and IV Data**: From February 9 - 11, 2026, the 300 Index price changed from 4719.056 to 4713.819, with corresponding daily price changes and monthly and next - month IVs. For instance, on February 9, the price change was 1.63%, monthly IV was 18.70%, and next - month IV was 18.21% [66]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are presented, such as the 1 - year current - month IV quantiles being 86.50%, 73.80%, etc. [66]. - **Skew Index**: The skew index on February 11, 2026, was 100.38, with previous values also provided [69]. 3.11 1000 Index - **Price and IV Data**: From February 9 - 11, 2026, the 1000 Index price changed from 8233.778 to 8239.513, with corresponding daily price changes and monthly and next - month IVs. For example, on February 9, the price change was 2.26%, monthly IV was 27.20%, and next - month IV was 26.14% [70]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are given, like the 1 - year current - month IV quantiles being 91.80%, 78.70%, etc. [70]. - **Skew Index**: The skew index on February 11, 2026, was 113.30, with previous values available [75]. 3.12 Shanghai Composite 50 Index - **Price and IV Data**: From February 9 - 11, 2026, the Shanghai Composite 50 Index price changed from 3081.779 to 3088.457, with corresponding daily price changes and monthly and next - month IVs. For instance, on February 9, the price change was 1.45%, monthly IV was 17.74%, and next - month IV was 66.58% [80]. - **IV Quantiles**: The 1 - year and 2 - year quantiles of the current - month IV and next - month IV are presented, such as the 1 - year current - month IV quantiles being 82.00%, 77.10%, etc. [80]. - **Skew Index**: The skew index on February 11, 2026, was 100.49, with previous values also provided [86].

1. Report Industry Investment Rating No relevant information provided. 2. Report's Core View No clear core view is presented in the provided text. It mainly contains detailed data and charts about various financial products' price, volatility, and related indices. 3. Summary by Related Catalogs A. 50ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 3.147 to 3.108 with corresponding fluctuations in monthly and next - month IV [1] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [1] - Skew index: Today's skew index is 103.65, showing changes compared to previous days [2] B. Shanghai 300ETF - 10 - day data: From 2026/1/29 to 2/3, the price changed from 4.768 to 4.600 (on 2/2) and 4.660107 (on 2/3), with corresponding IV changes [3] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [3] - Skew index: Today's skew index is 97.50, with variations from previous days [6] C. Shenzhen 300ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 4.912 to 4.864, and IV also fluctuated [8] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [8] - Skew index: Today's skew index is 96.50, different from previous days [10] D. Shanghai CSI 500ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 8.440 to 8.366, and IV had corresponding changes [12] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [12] - Skew index: Today's skew index is 100.80, varying from previous days [15] E. Shenzhen CSI 500ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 3.350 to 3.324, and IV fluctuated [21] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [21] - Skew index: Today's skew index is 101.30, different from previous days [25] F. ChiNext ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 3.335 to 3.313, and IV had corresponding changes [26] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [26] - Skew index: Today's skew index is 95.19, varying from previous days [31] G. Shenzhen 100ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 3.478 to 3.463, and IV fluctuated [35] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [35] - Skew index: Today's skew index is 93.78, different from previous days [38] H. Science and Technology Innovation 50ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 1.588 to 1.548, and IV had corresponding changes [44] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [44] - Skew index: Today's skew index is 88.58, varying from previous days [46] I. STAR 50ETF - 10 - day data: From 2026/1/30 to 2/3, the price changed from 1.538 to 1.499, and IV fluctuated [50] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [50] - Skew index: Today's skew index is 88.25, different from previous days [56] J. 300 Index - 9 - day data: From 2026/1/30 to 2/3, the price changed from 4706.340 to 4660.107, and IV had corresponding changes [61] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [61] - Skew index: Today's skew index is 82.13, varying from previous days [65] K. 1000 Index - 9 - day data: From 2026/1/30 to 2/3, the price changed from 8254.860 to 8209.101, and IV fluctuated [66] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [66] - Skew index: Today's skew index is 104.03, different from previous days [71] L. Shanghai Composite 50 Index - 9 - day data: From 2026/1/30 to 2/3, the price changed from 3066.496 to 3034.580, and IV had corresponding changes [79] - IV quantiles: High quantiles for both monthly and next - month IV in the past 1 and 2 years [79] - Skew index: Today's skew index is 95.93, varying from previous days [81]

1. Report Industry Investment Rating There is no information provided in the content regarding the industry investment rating. 2. Core Viewpoints There is no explicit core view presented in the given content. 3. Summary by Related Catalogs 3.1 50ETF - The price, daily change, and implied volatility (IV) of 50ETF from January 28 - 30, 2026 are presented, with the price rising on January 29 and falling on January 30 [1]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided, showing relatively high IV quantiles [1]. - Graphs display the price, IV, skew index, and other indicators' trends over different time periods [1][2]. 3.2 Shanghai 300ETF - The price, daily change, and IV of Shanghai 300ETF from January 27 - 30, 2026 are shown, with price fluctuations during this period [3]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are given, with high IV quantiles [3]. - Various graphs illustrate the price, IV, skew index, and other trends [3][6]. 3.3 Shenzhen 300ETF - The price, daily change, and IV of Shenzhen 300ETF from January 28 - 30, 2026 are presented, with price changes and IV fluctuations [7]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided, indicating high IV quantiles [7]. - Graphs show the price, IV, skew index, and other trends [7][12]. 3.4 Shanghai CSI 500ETF - The price, daily change, and IV of Shanghai CSI 500ETF from January 28 - 30, 2026 are given, with significant price drops on January 30 [14]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are very high [14]. - Graphs display the price, IV, skew index, and other trends [14][20]. 3.5 Shenzhen CSI 500ETF - The price, daily change, and IV of Shenzhen CSI 500ETF from January 28 - 30, 2026 are shown, with price declines on January 29 and 30 [22]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are high [22]. - Graphs illustrate the price, IV, skew index, and other trends [22][28]. 3.6 ChiNext ETF - The price, daily change, and IV of ChiNext ETF from January 28 - 30, 2026 are presented, with a price increase on January 30 [29]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [29]. - Graphs show the price, IV, skew index, and other trends [29][39]. 3.7 Shenzhen 100ETF - The price, daily change, and IV of Shenzhen 100ETF from January 28 - 30, 2026 are given, with minor price changes [40]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [40]. - Graphs display the price, IV, skew index, and other trends [40][47]. 3.8 Science and Technology Innovation 50ETF - The price, daily change, and IV of Science and Technology Innovation 50ETF from January 28 - 30, 2026 are shown, with price drops on January 29 [49]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [49]. - Graphs illustrate the price, IV, skew index, and other trends [49][54]. 3.9 STAR 50ETF - The price, daily change, and IV of STAR 50ETF from January 28 - 30, 2026 are presented, with price declines on January 29 and 30 [57]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [57]. - Graphs show the price, IV, skew index, and other trends [57][68]. 3.10 300 Index - The price, daily change, and IV of the 300 Index from January 28 - 30, 2026 are given, with a price drop on January 30 [69]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [69]. - Graphs display the price, IV, skew index, and other trends [69][73]. 3.11 1000 Index - The price, daily change, and IV of the 1000 Index from January 28 - 30, 2026 are shown, with price drops on January 29 and 30 [74]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [74]. - Graphs illustrate the price, IV, skew index, and other trends [74][83]. 3.12 Shanghai 50 Index - The price, daily change, and IV of the Shanghai 50 Index from January 28 - 30, 2026 are presented, with a price drop on January 30 [85]. - The IV quantiles of the current - month and next - month contracts in the past 1 and 2 years are provided [85]. - Graphs show the price, IV, skew index, and other trends [85][92].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Not provided in the given content 3. Summary by Related Catalogs 3.1 50ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price fluctuated with a -0.45% drop on the 22nd, -0.80% on the 23rd, and 0.74% increase on the 26th. The current month IV and next month IV also changed accordingly [1]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were relatively high, reaching up to 93.00% and 87.10% respectively [1]. - **Skew Index**: The skew index on January 26, 2026, was 79.16, showing a change compared to previous days [2]. 3.2 Shanghai 300ETF - **Price and Volatility Data**: From January 21 - 23, 2026, the price decreased by 0.06% on the 22nd and 0.49% on the 23rd. The current month IV and next month IV increased [3]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 60.70% - 77.20% [3]. - **Skew Index**: The skew index on January 21, 2026, was 84.90, with changes in previous days [6]. 3.3 Shenzhen 300ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price decreased by 0.57% on the 23rd and then increased by 0.31% on the 26th. The current month IV and next month IV increased [7]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 16.70% - 49.00% [7]. - **Skew Index**: The skew index on January 22, 2026, was 97.70, with changes in previous days [13]. 3.4 Shanghai CSI 500ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 1.74% on the 22nd, 3.40% on the 23rd, and 1.12% on the 26th. The current month IV and next month IV increased significantly [15]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were relatively high, reaching up to 92.20% and 82.00% respectively [15]. - **Skew Index**: The skew index on January 26, 2026, was 90.65, with changes in previous days [18]. 3.5 Shenzhen CSI 500ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 0.57% on the 22nd, 2.94% on the 23rd, and decreased by 1.64% on the 26th. The current month IV and next month IV changed accordingly [21]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 41.90% - 90.20% [21]. - **Skew Index**: The skew index on January 22, 2026, was 95.54, with changes in previous days [25]. 3.6 GEM ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 1.04% on the 22nd, 0.66% on the 23rd, and decreased by 0.96% on the 26th. The current month IV and next month IV changed [26]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 20.80% - 61.10% [26]. - **Skew Index**: The skew index on January 26, 2026, was 110.98, with changes in previous days [32]. 3.7 Shenzhen 100ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price decreased by 0.43% on the 23rd and 0.51% on the 26th. The current month IV and next month IV increased [36]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 22.00% - 40.80% [36]. - **Skew Index**: The skew index on January 26, 2026, was 87.24, with changes in previous days [39]. 3.8 Science and Technology Innovation 50ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 0.37% on the 22nd, 0.80% on the 23rd, and decreased by 1.22% on the 26th. The current month IV and next month IV changed [45]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 47.70% - 77.20% [45]. - **Skew Index**: The skew index on January 26, 2026, was 85.15, with changes in previous days [47]. 3.9 STAR 50ETF - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 0.38% on the 22nd, 0.76% on the 23rd, and decreased by 1.20% on the 26th. The current month IV and next month IV changed [51]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 54.10% - 83.10% [51]. - **Skew Index**: The skew index on January 26, 2026, was 83.96, with changes in previous days [57]. 3.10 300 Index - **Price and Volatility Data**: From January 22 - 26, 2026, the price decreased by 0.45% on the 23rd and then increased by 0.10% on the 26th. The current month IV and next month IV increased [63]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 62.10% - 90.60% [63]. - **Skew Index**: The skew index on January 26, 2026, was 96.95, with changes in previous days [67]. 3.11 1000 Index - **Price and Volatility Data**: From January 22 - 26, 2026, the price increased by 0.75% on the 22nd, 1.94% on the 23rd, and decreased by 1.24% on the 26th. The current month IV and next month IV increased [68]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 46.20% - 93.00% [68]. - **Skew Index**: The skew index on January 26, 2026, was 85.96, with changes in previous days [72]. 3.12 Shanghai 50 Index - **Price and Volatility Data**: From January 22 - 26, 2026, the price decreased by 0.46% on the 22nd, 0.69% on the 23rd, and then increased by 0.57% on the 26th. The current month IV and next month IV increased [73]. - **IV Quantiles**: The current month IV quantiles in the past 1 - year and 2 - year periods were in the range of 70.50% - 88.10% [73]. - **Skew Index**: The skew index on January 26, 2026, was 72.37, with changes in previous days [78].

1. Report Industry Investment Rating - No information provided in the content 2. Report's Core View - No clear core view is presented in the given content 3. Summary by Related Catalogs 3.1 ETFs and Indexes Information - For 50ETF, from January 15 - 19, 2026, the price decreased from 3.180 to 3.153 with corresponding fluctuations in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 13.34% to 11.85%, and the next - month IV decreased from 16.60% to 14.98%. The current - month IV quantile in the past 1 year was 24.00%, and 24.10% in the past 2 years [1]. - For沪300ETF, from January 14 - 19, 2026, the price fluctuated around 4.7, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 14.17% to 12.20%, and the next - month IV decreased from 18.13% to 15.66%. The current - month IV quantile in the past 1 year was 10.60%, and 24.30% in the past 2 years [3]. - For深300ETF, from January 15 - 19, 2026, the price fluctuated slightly around 4.9, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 14.15% to 12.62%, and the next - month IV decreased from 17.88% to 15.98%. The current - month IV quantile in the past 1 year was 27.30%, and 31.00% in the past 2 years [9]. - For沪中证500ETF, from January 15 - 19, 2026, the price increased from 8.277 to 8.348, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 25.69% to 19.87%, and the next - month IV decreased from 26.19% to 22.76%. The current - month IV quantile in the past 1 year was 90.60%, and 84.20% in the past 2 years [13]. - For深中证500ETF, from January 15 - 19, 2026, the price increased from 3.299 to 3.328, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 25.46% to 19.22%. The current - month IV quantile in the past 1 year was 89.30%, and 80.90% in the past 2 years [21]. - For创业板ETF, from January 15 - 19, 2026, the price decreased from 3.352 to 3.318, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 26.83% to 20.83%, and the next - month IV decreased from 31.25% to 26.13%. The current - month IV quantile in the past 1 year was 63.60%, and 37.10% in the past 2 years [27]. - For深证100ETF, from January 15 - 19, 2026, the price decreased from 3.543 to 3.531, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 18.75% to 16.10%, and the next - month IV decreased from 22.51% to 20.58%. The current - month IV quantile in the past 1 year was 44.00%, and 45.30% in the past 2 years [37]. - For科创50ETF, from January 15 - 19, 2026, the price fluctuated around 1.5, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 32.94% to 25.92%, and the next - month IV decreased from 37.63% to 32.41%. The current - month IV quantile in the past 1 year was 36.30%, and 41.50% in the past 2 years [46]. - For科创板50ETF, from January 15 - 19, 2026, the price fluctuated around 1.5, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 32.08% to 23.99%, and the next - month IV decreased from 35.34% to 31.32%. The current - month IV quantile in the past 1 year was 65.30%, and 59.50% in the past 2 years [51]. - For 300指数, from January 15 - 19, 2026, the price fluctuated around 4700, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 15.16% to 16.20%, and the next - month IV decreased from 19.21% to 18.42%. The current - month IV quantile in the past 1 year was 56.30%, and 49.80% in the past 2 years [59]. - For 1000指数, from January 15 - 19, 2026, the price increased from 8240.775 to 8265.646, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 25.40% to 23.17%, and the next - month IV decreased from 26.06% to 24.15%. The current - month IV quantile in the past 1 year was 65.40%, and 68.30% in the past 2 years [64]. - For上证50指数, from January 15 - 19, 2026, the price decreased from 3105.575 to 3075.936, with corresponding changes in the underlying asset's price change rate, current - month IV, and next - month IV; the current - month IV decreased from 13.95% to 15.52%, and the next - month IV decreased from 67.66% to 55.03%. The current - month IV quantile in the past 1 year was 40.80%, and 36.60% in the past 2 years [70]. 3.2 Skew Index Information - The skew index of 50ETF's main contract month was 94.83 today [2]. - The skew index of沪300ETF's main contract month was 92.10 today [5]. - The skew index of深300ETF's main contract month was 98.93 today [11]. - The skew index of沪中证500ETF's main contract month was 90.61 today [16]. - The skew index of深中证500ETF's main contract month was 100.00 today [26]. - The skew index of创业板ETF's main contract month was 96.29 today [33]. - The skew index of深证100ETF's main contract month was 92.08 today [40]. - The skew index of科创50ETF's main contract month was 89.48 today [48]. - The skew index of科创板50ETF's main contract month was 96.98 today [54]. - The skew index of 300指数's main contract month was 87.68 today [63]. - The skew index of 1000指数's main contract month was 88.56 today [69]. - The skew index of上证50指数's main contract month was 85.85 today [76]. 3.3 Other Information - The expiration of the current - month contracts for 50ETF,沪300ETF,深300ETF,沪中证500ETF,深中证500ETF,创业板ETF,深证100ETF,科创50ETF, and科创板50ETF was 7 days away; the expiration of the current - month contracts for 300指数, 1000指数, and上证50指数 was 20 days away [1][3][9]

1. Report Industry Investment Rating No relevant content provided. 2. Report Core Viewpoints No clear core viewpoints are presented in the provided text. The document mainly offers detailed data and charts regarding various financial products such as ETFs and indices, including price, implied volatility, and skew index information. 3. Summary by Related Catalogs a. 50ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price dropping from 3.187 to 3.160, and the implied volatility of the current and next months showing a downward trend [1] - The current - month implied volatility quantiles are 58.30%, 24.00%, and 19.10% for the past year, and 54.30%, 29.20%, 24.10% for the past two years; the next - month implied volatility quantiles are 84.80%, 74.60%, 78.90% for the past year, and 75.60%, 65.70%, 68.90% for the past two years [1] - The skew index of the main contract month is 92.27 today [2] b. Shanghai 300ETF - 8 - day price, daily change, and implied volatility data from January 13 - 16, 2026, with the price fluctuating around 4.8 - 4.9, and the implied volatility of the current and next months also changing [3] - The current - month implied volatility quantiles are 73.40%, 32.20%, etc., and the next - month implied volatility quantiles are 90.70%, 82.40%, etc., for different time frames [3] - The skew index of the main contract month is 94.92 today [5] c. Shenzhen 300ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 4.9, and the implied volatility of the current and next months changing [6] - The current - month implied volatility quantiles are 52.60%, 27.30%, etc., and the next - month implied volatility quantiles are 87.70%, 76.40%, etc., for different time frames [6] - The skew index of the main contract month is 93.04 today [11] d. Shanghai CSI 500ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 8.3, and the implied volatility of the current and next months showing a downward trend [13] - The current - month implied volatility quantiles are 95.90%, 90.60%, etc., and the next - month implied volatility quantiles are 98.30%, 93.20%, etc., for different time frames [13] - The skew index of the main contract month is 90.61 today [17] e. Shenzhen CSI 500ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 3.3, and the implied volatility of the current and next months changing [23] - The current - month implied volatility quantiles are 94.60%, 89.30%, etc., and the next - month implied volatility quantiles are 98.30%, 93.60%, etc., for different time frames [23] - The skew index of the main contract month is 87.84 today [28] f. ChiNext ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 3.3, and the implied volatility of the current and next months showing a downward trend [29] - The current - month implied volatility quantiles are 64.80%, 63.60%, etc., and the next - month implied volatility quantiles are 75.90%, 75.10%, etc., for different time frames [29] - The skew index of the main contract month is 89.89 today [35] g. Shenzhen 100ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 3.5, and the implied volatility of the current and next months showing a downward trend [39] - The current - month implied volatility quantiles are 62.00%, 44.00%, etc., and the next - month implied volatility quantiles are 73.80%, 72.90%, etc., for different time frames [39] - The skew index of the main contract month is 89.29 today [42] h. Science and Technology Innovation 50ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 1.5 - 1.6, and the implied volatility of the current and next months changing [48] - The current - month implied volatility quantiles are 80.80%, 76.80%, etc., and the next - month implied volatility quantiles are 84.80%, 84.30%, etc., for different time frames [48] - The skew index of the main contract month is 26.92 today [50] i. STAR 50ETF - 8 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 1.5 - 1.6, and the implied volatility of the current and next months changing [53] - The current - month implied volatility quantiles are 65.30%, 65.20%, etc., and the next - month implied volatility quantiles are 77.60%, 78.40%, etc., for different time frames [53] - The skew index of the main contract month is 71.44 today [59] j. 300 Index - 21 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 4700 - 4800, and the implied volatility of the current and next months changing [64] - The current - month implied volatility quantiles are 52.20%, 56.30%, etc., and the next - month implied volatility quantiles are 88.10%, 80.40%, etc., for different time frames [64] - The skew index of the main contract month is 89.05 today [67] k. 1000 Index - 21 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 8200 - 8300, and the implied volatility of the current and next months changing [68] - The current - month implied volatility quantiles are 77.50%, 82.80%, etc., and the next - month implied volatility quantiles are 88.10%, 82.40%, etc., for different time frames [68] - The skew index of the main contract month is 90.85 today [72] l. SSE 50 Index - 21 - day price, daily change, and implied volatility data from January 14 - 16, 2026, with the price around 3000 - 3100, and the implied volatility of the current and next months changing [78] - The current - month implied volatility quantiles are 65.70%, 40.80%, etc., and the next - month implied volatility quantiles are 97.10%, 94.20%, etc., for different time frames [78] - The skew index of the main contract month is 90.69 today [83]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - Not provided in the given content Summary by Related Catalogs 1. 50ETF - From January 13 - 15, 2026, the price decreased from 3.214 to 3.180 with a cumulative decline of about 1.06%, and both the current - month IV and next - month IV decreased [1] - The next - month IV quantiles in the past 1 and 2 years were relatively high, at 86.40% and 77.30% respectively on January 15, 2026 [1] 2. Shanghai 300ETF - From January 12 - 15, 2026, the price fluctuated slightly, and the current - month IV and next - month IV generally decreased [3] - The next - month IV quantiles in the past 1 and 2 years were relatively high, and the current - month IV quantiles also showed certain characteristics [3] 3. Shenzhen 300ETF - From January 13 - 15, 2026, the price first decreased and then increased slightly, and the current - month IV and next - month IV decreased [7] - The next - month IV quantiles in the past 1 and 2 years were relatively high, and the current - month IV quantiles had different levels [7] 4. Shanghai CSI 500ETF - From January 13 - 15, 2026, the price fluctuated, and the current - month IV and next - month IV decreased [15] - The current - month and next - month IV quantiles in the past 1 and 2 years were relatively high [15] 5. Shenzhen CSI 500ETF - From January 13 - 15, 2026, the price fluctuated slightly, and the current - month IV and next - month IV decreased [22] - The current - month and next - month IV quantiles in the past 1 and 2 years were relatively high [22] 6. ChiNext ETF - From January 13 - 15, 2026, the price increased slightly, and the current - month IV and next - month IV decreased [28] - The current - month and next - month IV quantiles in the past 1 and 2 years showed certain levels [28] 7. Shenzhen 100ETF - From January 13 - 15, 2026, the price increased slightly, and the current - month IV and next - month IV decreased [38] - The current - month and next - month IV quantiles in the past 1 and 2 years were at different levels [38] 8. Science and Technology Innovation 50ETF - From January 13 - 15, 2026, the price fluctuated, and the current - month IV and next - month IV showed certain changes [47] - The current - month and next - month IV quantiles in the past 1 and 2 years were relatively high [47] 9. Science and Technology Innovation Board 50ETF - From January 13 - 15, 2026, the price decreased slightly, and the current - month IV and next - month IV decreased [53] - The current - month and next - month IV quantiles in the past 1 and 2 years were relatively high [53] 10. 300 Index - From January 13 - 15, 2026, the price first decreased and then increased slightly, and the current - month IV and next - month IV changed accordingly [65] - The current - month and next - month IV quantiles in the past 1 and 2 years were at different levels [65] 11. 1000 Index - From January 13 - 15, 2026, the price fluctuated, and the current - month IV and next - month IV showed certain trends [70] - The current - month and next - month IV quantiles in the past 1 and 2 years were at different levels [70] 12. Shanghai Composite 50 Index - From January 13 - 15, 2026, the price decreased slightly, and the current - month IV and next - month IV decreased [80] - The current - month and next - month IV quantiles in the past 1 and 2 years were at different levels [80]

1. Report Industry Investment Rating - No information provided in the given content 2. Report Core Viewpoints - No clear core viewpoints are presented in the provided text. The content mainly consists of data on various financial products such as ETFs and indices, including their prices, price changes, implied volatility (IV), IV quantiles, skew indices, and related historical trends. 3. Summary by Related Catalogs 3.1 50ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the 50ETF price increased from 3.174 to 3.220 with corresponding daily price increases of 2.22%, 1.92%, and - 0.46%. The monthly IV increased from 12.81% to 15.24%, and the next - month IV from 14.41% to 16.87% [1] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 16.30%, 64.80%, 60.00% and 21.40%, 60.70%, 56.60% respectively. The 1 - year and 2 - year next - month IV quantiles are 42.60%, 76.70%, 76.30% and 41.80%, 68.70%, 67.80% respectively [1] - **Skew Index**: The skew index for the main contract month is 85.71 today, compared to 79.41 yesterday, 94.80 two days ago, 101.59 three days ago, and 92.86 four days ago [2] 3.2 Shanghai 300ETF - **15 - day Data**: From 2025/12/31 to 2026/1/7, the Shanghai 300ETF price changed from 4.753 to 4.977, with corresponding daily price changes of - 0.42%, 1.91%, 1.55%, and - 0.38%. The monthly IV increased from 13.69% to 15.90%, and the next - month IV from 15.44% to 17.35% [3] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 28.10%, 46.90% and 29.00%, 47.00% respectively. The 1 - year and 2 - year next - month IV quantiles are 45.90% and 47.70%, 67.00%, 62.50% respectively [3] - **Skew Index**: The skew index for the main contract month is 92.17 today, compared to 88.31 yesterday, 98.98 two days ago, 103.24 three days ago, and 97.70 four days ago [5] 3.3 Shenzhen 300ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the Shenzhen 300ETF price changed from 4.921 to 4.977, with corresponding daily price changes of 1.95%, 1.52%, and - 0.38%. The monthly IV increased from 13.82% to 15.90%, and the next - month IV from 15.40% to 17.35% [6] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 22.40%, 44.80%, 55.50% and 26.30%, 47.40%, 54.60% respectively. The 1 - year and 2 - year next - month IV quantiles are 46.70%, 59.80%, 69.40% and 45.80%, 58.20%, 64.30% respectively [6] - **Skew Index**: The skew index for the main contract month is 92.95 today, compared to 84.27 yesterday, 96.64 two days ago, 97.26 three days ago, and 97.01 four days ago [11] 3.4 Shanghai CSI 500ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the Shanghai CSI 500ETF price increased from 7.792 to 7.999, with corresponding daily price increases of 2.78%, 4.92%, and 2.66%. The monthly IV increased from 18.07% to 21.09%, and the next - month IV from 19.10% to 21.53% [13] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 40.00%, 69.70%, 74.60% and 29.80%, 58.00%, 62.70% respectively. The 1 - year and 2 - year next - month IV quantiles are 46.40%, 72.90%, 74.20% and 41.40%, 64.90%, 66.30% respectively [13] - **Skew Index**: The skew index for the main contract month is 95.76 today, compared to 91.41 yesterday, 97.43 two days ago, 103.65 three days ago, and 99.36 four days ago [16] 3.5 Shenzhen CSI 500ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the Shenzhen CSI 500ETF price increased from 3.075 to 3.157, with corresponding daily price increases of 2.74%, 2.15%, and 0.51%. The monthly IV increased from 18.47% to 21.22%, and the next - month IV from 19.61% to 22.17% [20] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 42.00%, 68.50% and 33.90%, 60.30%, 74.60%, 63.50% respectively. The 1 - year and 2 - year next - month IV quantiles are 49.70%, 72.10%, 74.60%, 68.00% and 45.00%, 65.70% respectively [20] - **Skew Index**: The skew index for the main contract month is 103.24 today, compared to 96.54 yesterday, 89.04 two days ago, 86.53 three days ago, and 94.69 four days ago [25] 3.6 ChiNext ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the ChiNext ETF price increased from 3.281 to 3.311, with corresponding daily price increases of 2.98%, 0.67%, and 0.24%. The monthly IV increased from 24.55% to 26.32%, and the next - month IV from 26.88% to 28.42% [26] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 43.60%, 59.50%, 59.10% and 48.00%, 60.70%, 60.30% respectively. The 1 - year and 2 - year next - month IV quantiles are 57.80%, 65.80%, 69.10% and 64.90%, 68.40%, 63.00% respectively [26] - **Skew Index**: The skew index for the main contract month is 92.31 today, compared to 90.34 yesterday, 96.58 two days ago, 95.66 three days ago, and 95.52 four days ago [32] 3.7 Shenzhen 100ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the Shenzhen 100ETF price changed from 3.515 to 3.542, with corresponding daily price changes of 1.83%, 1.08%, and - 0.31%. The monthly IV increased from 17.73% to 19.45%, and the next - month IV from 19.06% to 21.47% [36] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 31.80%, 49.70%, 57.50% and 34.10%, 50.50%, 55.20% respectively. The 1 - year and 2 - year next - month IV quantiles are 44.70%, 56.50%, 67.00% and 48.40%, 56.60%, 65.70% respectively [36] - **Skew Index**: The skew index for the main contract month is 92.01 today, compared to 92.19 yesterday, 97.30 two days ago, 101.19 three days ago, and 101.65 four days ago [39] 3.8 Science and Technology Innovation 50ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the Science and Technology Innovation 50ETF price increased from 1.479 to 1.520, with corresponding daily price increases of 4.38%, 1.76%, and 1.00%. The monthly IV increased from 27.09% to 28.95%, and the next - month IV from 29.59% to 32.00% [45] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 44.40%, 49.20%, 52.70%, 60.60% and 55.50%, 59.50%, 64.50%, 69.30% respectively. The 1 - year and 2 - year next - month IV quantiles are 52.60%, 55.60%, 63.70%, 68.00% [45] - **Skew Index**: The skew index for the main contract month is 84.76 today, compared to 81.12 yesterday, 91.56 two days ago, 96.21 three days ago, and 97.41 four days ago [47] 3.9 STAR 50ETF - **15 - day Data**: From 2026/1/5 to 2026/1/7, the STAR 50ETF price increased from 1.430 to 1.471, with corresponding daily price increases of 4.23%, 1.89%, and 0.96%. The monthly IV increased from 27.66% to 30.50%, and the next - month IV from 29.05% to 33.31% [50] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 47.70%, 51.70%, 51.00%, 59.10% and 62.80%, 65.00%, 64.90%, 70.10% respectively. The 1 - year and 2 - year next - month IV quantiles are 57.50%, 60.10%, 70.00%, 73.50% [50] - **Skew Index**: The skew index for the main contract month is 90.94 today, compared to 86.62 yesterday, 97.19 two days ago, 96.99 three days ago, and 96.38 four days ago [57] 3.10 300 Index - **7 - day Data**: From 2026/1/5 to 2026/1/7, the 300 Index price changed from 4717.746 to 4776.666, with corresponding daily price changes of 1.90%, 1.55%, and - 0.29%. The monthly IV increased from 13.52% to 15.34%, and the next - month IV from 15.84% to 17.73% [63] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 31.40%, 63.60%, 57.50% and 25.90%, 56.40% respectively. The 1 - year and 2 - year next - month IV quantiles are 45.30%, 66.10%, 73.00% and 46.60%, 61.70%, 51.30%, 65.60% respectively [63] - **Skew Index**: The skew index for the main contract month is 103.84 today, compared to 89.05 yesterday, 73.68 two days ago, 97.40 three days ago, and 105.72 four days ago [67] 3.11 1000 Index - **7 - day Data**: From 2026/1/5 to 2026/1/7, the 1000 Index price increased from 7753.880 to 7906.420, with corresponding daily price increases of 2.09%, 1.43%, and 0.53%. The monthly IV increased from 19.14% to 20.60%, and the next - month IV from 21.08% to 21.92% [68] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 36.30%, 54.60%, 52.60% and 21.20%, 34.90%, 31.00% respectively. The 1 - year and 2 - year next - month IV quantiles are 44.80%, 63.20%, 55.10% and 26.50%, 46.80%, 35.50% respectively [68] - **Skew Index**: The skew index for the main contract month is 98.78 today, compared to 90.94 yesterday, 95.62 two days ago, 111.32 three days ago, and 102.69 four days ago [72] 3.12 Shanghai Composite 50 Index - **7 - day Data**: From 2026/1/5 to 2026/1/7, the Shanghai Composite 50 Index price changed from 3099.746 to 3145.120, with corresponding daily price changes of 2.26%, 1.90%, and - 0.43%. The monthly IV increased from 12.42% to 15.54%, and the next - month IV from 56.52% to 68.21% [76] - **IV Quantiles**: The 1 - year and 2 - year monthly IV quantiles are 19.10%, 84.40% and 15.90%, 74.40%, 56.60% respectively. The 1 - year and 2 - year next - month IV quantiles are 69.30%, 68.50%, 64.40% and 84.20%, 83.40%, 97.10%, 98.50% respectively [76] - **Skew Index**: The skew index for the main contract month is

Report Industry Investment Rating No relevant information provided. Report's Core View No relevant information provided. Summary of Each ETF and Index 50ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 3.107 to 3.12, and daily price changes from -0.35% to 0.42%. The current IV of the month was between 11.93% and 12.86%, and the IV of the next month was between 13.04% and 13.99% [1]. - The skew index of the main contract month was 100.03 today [2]. Shanghai 300ETF - Price and volatility data from December 24 - 26, 2025, with price ranging from 4.757 to 4.784, and daily price changes from 0.19% to 0.57%. The current IV of the month was between 13.79% and 14.42%, and the IV of the next month was between 15.16% and 16.22% [3]. - The skew index of the main contract month was 101.35 today [5]. Shenzhen 300ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 4.838 to 4.860, and daily price changes from -0.45% to 0.41%. The current IV of the month was between 14.10% and 14.73%, and the IV of the next month was between 15.17% and 16.07% [6]. - The skew index of the main contract month was 107.43 four days ago, and 98.39 today [10]. Shanghai CSI 500ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 7.534 to 7.580, and daily price changes from 0.19% to 2.17%. The current IV of the month was between 17.60% and 18.88%, and the IV of the next month was between 18.05% and 19.38% [12]. - The skew index of the main contract month was 101.22 today [15]. Shenzhen CSI 500ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 2.974 to 2.991, and daily price changes from -0.40% to 0.81%. The current IV of the month was between 17.37% and 18.81%, and the IV of the next month was between 17.74% and 19.77% [19]. - The skew index of the main contract month was 100.96 today [24]. ChiNext ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 3.205 to 3.226, and daily price changes from -0.65% to 0.31%. The current IV of the month was between 24.85% and 26.03%, and the IV of the next month was between 25.92% and 27.20% [25]. - The skew index of the main contract month was 95.68 today [31]. Shenzhen 100ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 3.470 to 3.485, and daily price changes from -0.43% to 0.29%. The current IV of the month was between 18.09% and 19.01%, and the IV of the next month was between 20.09% and 20.49% [35]. - The skew index of the main contract month was 101.71 today [38]. Science and Technology Innovation 50ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 1.417 to 1.422, and daily price changes from -0.21% to -0.07%. The current IV of the month was between 25.30% and 26.36%, and the IV of the next month was between 26.23% and 28.23% [44]. - The skew index of the main contract month was 95.11 today [46]. STAR 50ETF - Price and volatility data from December 25 - 29, 2025, with price ranging from 1.373 to 1.376, and daily price changes from -0.15% to -0.07%. The current IV of the month was between 25.91% and 27.29%, and the IV of the next month was between 27.43% and 29.24% [51]. - The skew index of the main contract month was 95.32 today [57]. 300 Index - Price and volatility data from December 25 - 29, 2025, with price ranging from 4639.372 to 4657.240, and daily price changes from -0.38% to 0.32%. The current IV of the month was between 14.67% and 14.88%, and the IV of the next month was between 15.82% and 16.84% [63]. - The skew index of the main contract month was 108.62 today [67]. 1000 Index - Price and volatility data from December 25 - 29, 2025, with price ranging from 7579.379 to 7605.530, and daily price changes from -0.15% to 0.97%. The current IV of the month was between 18.31% and 19.31%, and the IV of the next month was between 19.06% and 20.56% [68]. - The skew index of the main contract month was 104.72 today [73]. SSE 50 Index - Price and volatility data from December 25 - 29, 2025, with price ranging from 3032.841 to 3045.404, and daily price changes from -0.35% to 0.41%. The current IV of the month was between 12.89% and 13.50%, and the IV of the next month was between 59.33% and 62.95% [78]. - The skew index of the main contract month was 97.89 today [84].

1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints of the Report The report presents the price, price change, implied volatility (IV) data, and related quantile information of various ETFs and indexes over a 7 - day period from December 11 - 15, 2025, along with historical data on price, IV, skew index, and other aspects, aiming to help investors understand the market conditions and volatility characteristics of these financial products [1][3][6]. 3. Summary by Related Catalogs 3.1 50ETF - **7 - day data**: From December 11 - 15, 2025, the price fluctuated, with a - 0.38% drop on the 11th, a 0.45% increase on the 12th, and a - 0.03% drop on the 15th. The monthly IV decreased from 11.63% on the 11th to 11.04% on the 12th and then rose to 11.49% on the 15th [1]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 9.70%, 4.00%, 7.70%, and the near - 2 - year monthly IV quantiles were 8.50%, 3.60%, 7.30% [1]. - **Skew index**: The skew index on December 15, 2025, was 98.60 [2]. 3.2 Shanghai 300ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.72% on the 11th, increased by 0.56% on the 12th, and decreased by 0.58% on the 15th. The monthly IV decreased from 13.86% on the 11th to 12.70% on the 12th and then rose to 13.17% on the 15th [3]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 28.50%, 9.70%, and the near - 2 - year monthly IV quantiles were 31.20%, 11.00% [3]. - **Skew index**: The skew index on December 15, 2025, was 105.37 [5]. 3.3 Shenzhen 300ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.73% on the 11th, increased by 0.55% on the 12th, and decreased by 0.52% on the 15th. The monthly IV decreased from 13.86% on the 11th to 13.14% on the 12th and then rose to 13.66% on the 15th [6]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 20.40%, 12.20%, 16.70%, and the near - 2 - year monthly IV quantiles were 25.50%, 14.10%, 21.40% [6]. - **Skew index**: The skew index on December 15, 2025, was 107.33 [11]. 3.4 Shanghai CSI 500ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.32% on the 11th, increased by 0.30% on the 12th, and increased by 0.49% on the 15th. The monthly IV decreased from 16.52% on the 11th to 15.67% on the 12th and then rose to 15.78% on the 15th [13]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 23.20%, 15.50%, 17.50%, and the near - 2 - year monthly IV quantiles were 17.30%, 11.80%, 12.60% [13]. - **Skew index**: The skew index on December 15, 2025, was 110.66 [16]. 3.5 Shenzhen CSI 500ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.77% on the 11th, increased by 1.20% on the 12th, and decreased by 0.70% on the 15th. The monthly IV decreased from 16.97% on the 11th to 15.48% on the 12th and then rose to 15.55% on the 15th [20]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 25.70%, 12.60%, and the near - 2 - year monthly IV quantiles were 19.80%, 9.20%, 13.80%, 9.60% [20]. - **Skew index**: The skew index on December 15, 2025, was 105.56 [25]. 3.6 ChiNext ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 1.44% on the 11th, increased by 0.89% on the 12th, and decreased by 1.70% on the 15th. The monthly IV decreased from 26.11% on the 11th to 23.78% on the 12th and then rose to 24.94% on the 15th [26]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 53.10%, 49.70%, and the near - 2 - year monthly IV quantiles were 60.20%, 51.40%, 61.00% [26]. - **Skew index**: The skew index on December 15, 2025, was 112.91 [30]. 3.7 Shenzhen 100ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 1.32% on the 11th, increased by 0.58% on the 12th, and decreased by 1.22% on the 15th. The monthly IV decreased from 24.69% on the 11th to 18.19% on the 12th and then to 17.82% on the 15th [34]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 83.60%, 33.80%, 31.80%, and the near - 2 - year monthly IV quantiles were 79.30%, 38.80%, 35.30% [34]. - **Skew index**: The skew index on December 15, 2025, was 108.31 [37]. 3.8 Science and Technology Innovation 50ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 1.63% on the 11th, increased by 1.87% on the 12th, and decreased by 2.05% on the 15th. The monthly IV decreased from 25.66% on the 11th to 24.11% on the 12th and then rose to 25.41% on the 15th [43]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 31.40%, 42.10%, 39.60%, 54.70%, and the near - 2 - year monthly IV quantiles were 23.60%, 29.40%, 36.70%, 52.40% [43]. - **Skew index**: The skew index on December 15, 2025, was 99.79 [45]. 3.9 STAR 50ETF - **7 - day data**: From December 11 - 15, 2025, the price decreased by 1.53% on the 11th, increased by 1.63% on the 12th, and decreased by 2.11% on the 15th. The monthly IV decreased from 26.48% on the 11th to 23.94% on the 12th and then rose to 26.69% on the 15th [48]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 26.10%, 30.20%, 33.30%, 49.80%, and the near - 2 - year monthly IV quantiles were 38.30%, 46.00%, 33.30%, 49.20% [48]. - **Skew index**: The skew index on December 15, 2025, was 100.71 [54]. 3.10 300 Index - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.86% on the 11th, increased by 0.63% on the 12th, and decreased by 0.63% on the 15th. The monthly IV decreased from 13.38% on the 11th to 11.78% on the 12th and then rose to 12.03% on the 15th [60]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 25.70%, 7.30%, 10.60%, and the near - 2 - year monthly IV quantiles were 22.60%, 5.10% [60]. - **Skew index**: The skew index on December 15, 2025, was 107.95 [65]. 3.11 1000 Index - **7 - day data**: From December 11 - 15, 2025, the price decreased by 1.30% on the 11th, increased by 0.81% on the 12th, and decreased by 0.84% on the 15th. The IV data was not available [66]. - **IV quantiles**: All IV quantile data was not available [66]. - **Skew index**: The skew index on December 15, 2025, was 125.24 [71]. 3.12 SSE 50 Index - **7 - day data**: From December 11 - 15, 2025, the price decreased by 0.39% on the 11th, increased by 0.59% on the 12th, and decreased by 0.25% on the 15th. The monthly IV decreased from 12.19% on the 11th to 10.54% on the 12th and then to 9.88% on the 15th [72]. - **IV quantiles**: The near - 1 - year monthly IV quantiles were 12.60%, 1.60%, and the near - 2 - year monthly IV quantiles were 11.20%, 1.00%, 0.20% [72]. - **Skew index**: The skew index on December 15, 2025, was 112.40 [78].