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]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoint - No clear core viewpoint presented in the report 3. Summary by Related Catalogs Option Quotes - **Call Options**: Apple had a daily increase of 188.89%, methanol 97.04%, ethylene glycol 86.46%, etc [1]. - **Put Options**: Gold had a daily increase of 350.58%, tin 229.67%, copper 105.07%, etc [1]. Option Positions - **Call Options**: Glass had a daily position change of 16389, silver 10742, rebar 9458, etc [2]. - **Put Options**: Methanol had a daily position change of 14342, asphalt 9127, styrene 7635, etc [2]. Option Position Put - Call Ratio (PCR) - **High - PCR Varieties**: Fuel oil had a PCR of 1.9147, apple 1.8105, p - xylene 1.7086, etc [5]. - **Low - PCR Varieties**: Pig had a PCR of 0.2179, red dates 0.218, soda ash 0.3633, etc [5]. Option Volume Put - Call Ratio (PCR) - **High - PCR Varieties**: Short - fiber had a PCR of 2.2522, propylene 1.9571, copper 1.6744, etc [6]. - **Low - PCR Varieties**: Liquefied petroleum gas had a PCR of 0.1805, urea 0.216, log 0.2208, etc [6]. Daily Selections - **Call Options**: Fuel oil (fu2609C4450), methanol (MA609C3000), asphalt (bu2605C4800), etc [7]. - **Put Options**: Gold (au2606P1040), nickel (ni2605P124000), copper (cu2605P88000), etc [7]. Near - Expiry Options - **Call Options**: For the Shanghai 50 Index, the HO2603 - C - 2950 option had 1 day remaining, with a closing price of 3.4 and a break - even target price of 2983.4 (2.30% increase) [8]. - **Put Options**: For the Shanghai 50 Index, the HO2603 - P - 2900 option had 1 day remaining, with a closing price of 5.6 and a break - even target price of 2864.4 (-1.78% decrease) [8].

Group 1: Report Overview - The report is the Commodity Options Daily Report on March 19, 2026, provided by Dayue Futures [1] Group 2: Option Quotes Call Options - The top five daily gainers among call options are asphalt (56.14%), egg (25.20%), methanol (12.75%), lead (11.29%), and ethylene glycol (-5.88%). The top five daily losers are alumina (-14.56%), polypropylene (-10.81%), corn (-10.00%), log (-7.06%), and ethylene glycol (-5.88%) [1] Put Options - The top five daily gainers among put options are zinc (86.17%), offset printing paper (79.69%), red dates (73.94%), ferrosilicon (65.77%), and industrial silicon (52.49%). The top five daily losers are not provided as all listed put options have positive daily changes [1] Group 3: Option Positions Call Options - The top five in terms of daily change in call option positions are glass (17,638), methanol (13,647), soda ash (12,311), p-xylene (12,210), and styrene (11,616) [3] Put Options - The top five in terms of daily change in put option positions are methanol (18,936), cotton (12,904), p-xylene (12,559), asphalt (12,070), and soybean meal (10,487) [3] Group 4: Option Position Put - Call Ratio (PCR) High PCR - The top five high PCR positions are fuel oil (2.0196), p-xylene (1.7365), apple (1.6524), short fiber (1.4331), and crude oil (1.4282) [6] Low PCR - The top five low PCR positions are red dates (0.225), live pigs (0.2324), coking coal (0.3701), soda ash (0.3704), and urea (0.408) [6] Group 5: Option Volume Put - Call Ratio (PCR) High PCR - The top five high PCR volumes are polypropylene (1.8725), copper (1.8452), zinc (1.4677), plastic (1.4231), and silver (1.2786) [7] Low PCR - The top five low PCR volumes are platinum (0.1787), palladium (0.2026), red dates (0.2146), urea (0.2374), and alumina (0.2567) [7] Group 6: Daily Selections Call Options - Recommended call options include alumina (ao2605C3050), methanol (MA609C2800), ethylene glycol (eg2605 - C - 4900), asphalt (bu2605C4600), and iron ore (i2605 - C - 820) [8] Put Options - Recommended put options include gold (au2606P1088), copper (cu2605P92000), zinc (zn2605P22600), silver (ag2606P19600), and pulp (sp2605P4950) [8] Group 7: Near - Expiry Options Call Options - Near - expiry call options include those on SSE 50 (HO2603 - C - 3000), CSI 300 (IO2603 - C - 4700), and CSI 1000 (MO2603 - C - 8100) [9] Put Options - Near - expiry put options include those on SSE 50 (HO2603 - P - 2950), CSI 300 (IO2603 - P - 4650), and CSI 1000 (MO2603 - P - 8000) [9]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The report presents data on commodity option daily market, including option price changes, position changes, put - call ratios of positions and trading volumes, daily option selections, and information on near - expiration options [1][2][5][6][7][8] 3. Summary by Relevant Catalogs Option Price Changes - Among call options, lead had the highest daily increase of 85.52%, followed by alumina (37.79%), manganese silicon (30.71%), etc. Among put options, pulp had the highest daily increase of 65.62%, followed by offset printing paper (61.90%), zinc (43.77%), etc [1] Option Position Changes - For call options, sugar had the largest daily position change of 16314, followed by corn (15329), fuel oil (15196), etc. For put options, methanol had the largest daily position change of 16448, followed by cotton (10035), asphalt (9572), etc [2] Option Position Put - Call Ratio (PCR) - High - position PCR varieties included p - xylene (1.9066), fuel oil (1.6502), apple (1.5912), etc. Low - position PCR varieties included live pigs (0.2179), red dates (0.2275), coking coal (0.3493), etc [5] Option Trading Volume Put - Call Ratio (PCR) - High - trading - volume PCR varieties included short - fiber (2.0144), propylene (1.8318), soybean No.2 (1.1925), etc. Low - trading - volume PCR varieties included logs (0.132), red dates (0.1439), alumina (0.2123), etc [6] Daily Option Selections - Call option selections included iron ore, alumina, manganese silicon, etc. Put option selections included gold, zinc, live pigs, etc [7] Near - Expiration Options - For call options, fuel oil, SSE 50, CSI 300, and CSI 1000 options were listed. For put options, fuel oil, SSE 50, CSI 300, and CSI 1000 options were also listed, along with information on remaining days, option closing prices, underlying settlement prices, break - even points, and option doubling points [8]

Group 1: Option Quotes - The daily percentage changes of call options for various commodities are as follows: asphalt 112.07%, tin 22.66%, platinum 22.63%, copper 18.89%, silver 17.29%, bottle chips 17.29%, natural rubber 12.96%, nickel 6.94%, palladium 5.91%, and cotton 0.00% [1] - The daily percentage changes of put options for various commodities are as follows: crude oil 160.40%, ethylene glycol 97.87%, p - xylene 86.86%, liquefied petroleum gas 73.25%, offset printing paper 58.24%, PTA 57.00%, styrene 53.73%, plastic 47.25%, polypropylene 46.48%, and soybean oil 41.04% [1] Group 2: Option Positions - The daily changes in call option positions for different commodities are: methanol 46373, PTA 33073, soybean meal 17115, soda ash 15539, glass 15167, corn 15030, styrene 11799, sugar 10085, caustic soda 7846, and rebar 7287 [2] - The daily changes in put option positions for different commodities are: styrene 43469, PTA 21180, soybean meal 16414, fuel oil 12427, methanol 9292, corn 8121, cotton 5086, p - xylene 4916, palm oil 4136, and iron ore 3876 [2] Group 3: Option Position Put - Call Ratio PCR - High - position PCR varieties and their PCR values are: fuel oil 2.3679, apple 1.8771, short - fiber 1.8171, styrene 1.7204, crude oil 1.6227, propylene 1.5756, synthetic rubber 1.3121, PTA 1.3042, pure benzene 1.2202, and liquefied petroleum gas 1.1647 [5] - Low - position PCR varieties and their PCR values are: live pigs 0.2434, red dates 0.2486, alumina 0.3171, soda ash 0.3571, coking coal 0.4098, natural rubber 0.4182, urea 0.4184, sugar 0.4214, industrial silicon 0.4653, and logs 0.4679 [5] Group 4: Option Volume Put - Call Ratio PCR - High - volume PCR varieties and their PCR values are: propylene 4.8296, pure benzene 2.0913, short - fiber 2.0615, polypropylene 1.686, cast aluminum alloy 1.534, bottle chips 1.3155, synthetic rubber 1.2205, rapeseed oil 1.0802, plastic 1.0575, and PTA 1.0359 [6] - Low - volume PCR varieties and their PCR values are: red dates 0.0919, live pigs 0.1216, polysilicon 0.1702, nickel 0.2152, urea 0.2331, peanuts 0.2506, natural rubber 0.2579, alumina 0.2761, coking coal 0.3232, and rebar 0.3315 [6] Group 5: Daily Selections - Call option daily selections include silicon iron, styrene, aluminum, bottle chips, iron ore, soybean meal, fuel oil, and rebar, with details on futures contracts, option contracts, trend degrees, put - call ratios, and remaining days [7] - Put option daily selections include SSE 50, copper, zinc, lead, nickel, gold, CSI 300, and live pigs, with details on futures contracts, option contracts, trend degrees, put - call ratios, and remaining days [7] Group 6: Near - Expiration Options - Call near - expiration options for glass, methanol, short - fiber, peanuts, propylene, bottle chips, soda ash, silicon iron, caustic soda, manganese silicon, PTA, urea, and crude oil are presented, including remaining days, option closing prices, underlying settlement prices, break - even points, and option doubling conditions [8] - Put near - expiration options for glass, methanol, short - fiber, peanuts, propylene, bottle chips, soda ash, silicon iron, caustic soda, manganese silicon, PTA, urea, and crude oil are presented, including remaining days, option closing prices, underlying settlement prices, break - even points, and option doubling conditions [9]

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Core View of the Report - The report presents data on commodity option market conditions on March 6, 2026, including daily option price changes, option positions, option position put - call ratios (PCR), option trading volume put - call ratios (PCR), daily option selections, and expiring options [1][2][5][6][7][8]. Group 3: Summary by Related Catalogs Option Quotes - For call options, the top five commodities with the highest daily price increases are styrene (123.33%), caustic soda (118.81%), pure benzene (107.53%), staple fiber (106.14%), and propylene (87.13%). For put options, the top five commodities with the highest daily price increases are liquefied petroleum gas (21.76%), natural rubber (15.91%), tin (14.98%), soybeans No.1 (13.10%), and nickel (10.18%) [1]. Option Positions - For call options, the top five commodities with the largest daily position increases are methanol (30095), iron ore (15713), styrene (9888), corn (9686), and PVC (8761). For put options, the top five commodities with the largest daily position increases are methanol (43286), PTA (27230), fuel oil (20350), caustic soda (16530), and lithium carbonate (14232) [2]. Option Position Put - Call Ratio (PCR) - High - position PCR commodities include apple (2.2129), crude oil (1.8414), fuel oil (1.7306), staple fiber (1.4593), and synthetic rubber (1.2941). Low - position PCR commodities include live pigs (0.2734), red dates (0.2836), alumina (0.284), coking coal (0.3516), and soda ash (0.3696) [5]. Option Trading Volume Put - Call Ratio (PCR) - High - trading volume PCR commodities include propylene (1.5201), silver (1.4534), staple fiber (1.1632), pure benzene (0.9517), and ferrosilicon (0.9297). Low - trading volume PCR commodities include red dates (0.1299), live pigs (0.1609), urea (0.1791), PVC (0.2091), and aluminum (0.2438) [6]. Daily Option Selections - Call option selections include aluminum, rapeseed oil, styrene, ethylene glycol, plastic, synthetic rubber, PTA, and soybeans No.2. Put option selections include SSE 50, polysilicon, live pigs, urea, CSI 300, peanuts, nickel, and eggs [7]. Expiring Options - For call options, commodities include lithium carbonate, industrial silicon, and polysilicon. For put options, commodities also include lithium carbonate, industrial silicon, and polysilicon. The report provides information on remaining days, option closing prices, underlying settlement prices, break - even points, and price levels for option doubling [8].

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core View of the Report - No relevant information provided Group 3: Option Quotes - The daily price increase rates of call options for tin, caustic soda, and copper are 145.46%, 114.29%, and 39.01% respectively. The daily price increase rates of put options for log, styrene, and asphalt are 62.50%, 54.94%, and 40.30% respectively [1]. Group 4: Option Positions - The daily changes in call option positions for soda ash, glass, and methanol are 28,697, 19,552, and 18,395 respectively. The daily changes in put option positions for caustic soda, PTA, and glass are 24,635, 18,672, and 14,859 respectively [2]. Group 5: Option Position Put - Call Ratio PCR - High - position PCR varieties include apple (1.6364), offset printing paper (1.2648), and propylene (1.0963). Low - position PCR varieties include soda ash (0.2516), live pigs (0.2569), and alumina (0.2755) [5]. Group 6: Option Trading Volume Put - Call Ratio PCR - High - trading - volume PCR varieties include apple (1.6044), offset printing paper (1.1722), and iron ore (1.1403). Low - trading - volume PCR varieties include ethylene glycol (0.1602), Chinese dates (0.183), and lead (0.2236) [6]. Group 7: Daily Selections - Call option selections include alumina (ao2605C2900), sugar (SR605C5300), and peanuts (PK605C8000). Put option selections include ethylene glycol (eg2605 - P - 3550), industrial silicon (si2605 - P - 8100), and plastic (l2605 - P - 6500) [7]. Group 8: Near - Expiration Options - For call options of near - expiration options, such as cotton (CF603C14800), the remaining days are 2, the option closing price is 22.0, and the break - even target price is 14,825.0 with a break - even target increase rate of 1.02%. For put options, such as cotton (CF603P14600), the break - even target price is 14,552.0 with a break - even target decrease rate of - 0.84% [8][9].

Core Viewpoint - The Shanghai Futures Exchange announced adjustments to trading fees for aluminum alloy futures and newsprint futures, effective from November 10, 2025, aiming to enhance trading activity in these markets [1] Group 1: Trading Fee Adjustments - The trading fee for aluminum alloy futures and newsprint futures will be set at 0.05% of the transaction amount, with no fees for intraday closing positions [1] - The trading fees for aluminum alloy options and newsprint options, as well as exercise fees, will be adjusted to 5 yuan per contract, maintaining the exemption for intraday closing positions [1] - The exemption for fees related to post-exercise futures self-hedging and market maker options self-hedging will remain unchanged [1]

Core Viewpoint - The Shanghai Futures Exchange has announced adjustments to the trading fees for casting aluminum alloy and offset printing paper futures and options, effective from November 10, 2025 [1] Group 1: Fee Adjustments - The trading fee for casting aluminum alloy futures and offset printing paper futures will be adjusted to 0.0005 of the transaction amount, with no fees for intraday closing positions [1] - The trading fee, exercise fee, and pre-hedging fee for casting aluminum alloy options and offset printing paper options will be set at 5 yuan per contract, with intraday closing position fees remaining waived [1] - The post-exercise futures hedging and market maker options hedging will continue to have no fees [1]

Core Viewpoint - The launch of the world's first cultural paper futures options, specifically the胶版印刷纸期货期权, marks a significant milestone in China's paper industry risk management and supports the green and low-carbon transformation of the sector [2]. Group 1: Market Impact - The introduction of胶版印刷纸期货 and期权 is expected to enhance price transparency, continuity, and public accessibility, providing better market references and risk management tools for production companies and end customers [2]. - The new financial derivatives will create a linkage with pulp futures, increasing operational flexibility and cost control for companies within the industry [2]. Group 2: Company Involvement - 建发股份 has actively participated in the initial trading of胶版印刷纸期货 and期权, demonstrating its commitment to the futures market [2]. - The company has established a comprehensive delivery network, with its subsidiaries receiving approval for胶版印刷纸期货 delivery warehouses and delivery factory qualifications [2]. Group 3: Future Outlook - 建发股份 aims to maintain a "professional, efficient, and stable" operational philosophy, ensuring the safe, standardized, and efficient operation of delivery services while promoting the prosperity of the pulp and paper futures market [3].