商品期权周报总结
核心内容
本报告对商品期权市场进行了全面分析，涵盖市场综述、市场数据及各主要品种的详细表现。通过成交量、持仓量、波动率等指标，展示了本周与上周的对比变化，揭示了市场参与者的情绪和预期。
主要观点
- 市场活跃度：整体商品期权市场成交量与持仓量均有所增长，但不同板块表现不一。
- 波动率变化：多数品种的平值波动率呈现下降趋势，表明市场预期趋于稳定。
- 市场情绪：成交量PCR和持仓量PCR的变化反映了市场对看涨与看跌期权的偏好，其中白糖期权的成交量PCR显著上升，表明看跌情绪增强。
- Skew变化：部分品种的Skew值下降，可能意味着市场对极端波动的预期降低。
关键信息
市场概览
| 指标 |
本周 |
上周 |
涨跌幅 |
| 总成交量 |
4,477,711.4 |
3,621,364.6 |
0.95% |
| 总持仓量 |
6,172,942 |
5,520,321 |
0.12% |
| 成交量PCR |
1.0732 |
1.0416 |
0.1393 |
| 持仓量PCR |
1.1679 |
1.2255 |
-0.0665 |
| 平值波动率 |
13.31% |
12.14% |
0.12% |
| HV-10日 |
13.31% |
12.14% |
0.12% |
| HV-20日 |
13.31% |
12.14% |
0.12% |
| Skew |
13.31% |
12.14% |
0.12% |
各品种表现
农产品
| 品种 |
成交量（本周） |
成交量（上周） |
涨跌幅 |
持仓量（本周） |
持仓量（上周） |
涨跌幅 |
平值波动率 |
HV-10日 |
HV-20日 |
Skew |
| 玉米 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
9.71% |
9.85% |
9.31% |
5.26% |
| 豆粕 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
14.75% |
8.03% |
16.6% |
3.57% |
| 菜粕 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
22.05% |
11.12% |
19.38% |
5.15% |
| 棕榈油 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
18.75% |
20.27% |
22.78% |
10.67% |
| 豆油 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
16.08% |
19.3% |
21.34% |
6.95% |
| 菜籽油 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
17.59% |
20.73% |
22.62% |
-0.15% |
| 花生 |
1,323,214.0 |
1,040,728.2 |
1.09% |
2,810,760 |
2,503,240 |
0.12% |
13.03% |
8.22% |
10.59% |
-2.37% |
能源化工
| 品种 |
成交量（本周） |
成交量（上周） |
涨跌幅 |
持仓量（本周） |
持仓量（上周） |
涨跌幅 |
平值波动率 |
HV-10日 |
HV-20日 |
Skew |
| 乙二醇 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
14.65% |
7.18% |
11.47% |
10.41% |
| 苯乙烯 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
22.25% |
16.93% |
21.92% |
3.46% |
| 白糖 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
11.63% |
12.37% |
12.37% |
-10.9% |
| 棉花 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
16.48% |
18.29% |
20.57% |
-2.83% |
| PTA |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
18.51% |
18.51% |
18.51% |
4.7% |
| PX |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
22.38% |
22.81% |
22.81% |
1.09% |
| 烧碱 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
25.49% |
25.49% |
25.49% |
4.44% |
| 橡胶 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
19.04% |
19.3% |
21.34% |
19.91% |
| BR橡胶 |
1,967,126.8 |
1,540,984.6 |
1.11% |
1,729,774 |
1,438,297 |
0.2% |
24.87% |
27.06% |
27.06% |
11.3% |
黑色
| 品种 |
成交量（本周） |
成交量（上周） |
涨跌幅 |
持仓量（本周） |
持仓量（上周） |
涨跌幅 |
平值波动率 |
HV-10日 |
HV-20日 |
Skew |
| 铁矿石 |
619,311.0 |
518,189.2 |
0.78% |
976,509 |
949,456 |
0.03% |
23.89% |
22.73% |
22.73% |
-12.34% |
| 动力煤 |
619,311.0 |
518,189.2 |
0.78% |
976,509 |
949,456 |
0.03% |
nan% |
nan% |
nan% |
nan% |
| 螺纹钢 |
619,311.0 |
518,189.2 |
0.78% |
976,509 |
949,456 |
0.03% |
14.22% |
16.6% |
16.6% |
5.6% |
贵金属
| 品种 |
成交量（本周） |
成交量（上周） |
涨跌幅 |
持仓量（本周） |
持仓量（上周） |
涨跌幅 |
平值波动率 |
HV-10日 |
HV-20日 |
Skew |
| 黄金 |
184,038.2 |
175,076.2 |
0.2% |
238,966 |
229,427 |
0.04% |
13.31% |
13.31% |
13.31% |
5.68% |
| 白银 |
184,038.2 |
175,076.2 |
0.2% |
238,966 |
229,427 |
0.04% |
18.61% |
14.21% |
14.21% |
12.91% |
有色
| 品种 |
成交量（本周） |
成交量（上周） |
涨跌幅 |
持仓量（本周） |
持仓量（上周） |
涨跌幅 |
平值波动率 |
HV-10日 |
HV-20日 |
Skew |
| 铜 |
315,303.4 |
336,311.4 |
-0.25% |
282,139 |
364,218 |
-0.23% |
9.15% |
9.15% |
9.15% |
-4.7% |
| 锌 |
315,303.4 |
336,311.4 |
-0.25% |
282,139 |
364,218 |
-0.23% |
14.21% |
14.21% |
14.21% |
3.96% |
| 铝 |
315,303.4 |
336,311.4 |
-0.25% |
282,139 |
364,218 |
-0.23% |
9.22% |
9.22% |
9.22% |
14.41% |
| 工业硅 |
315,303.4 |
336,311.4 |
-0.25% |
282,139 |
364,218 |
-0.23% |
17.06% |
17.06% |
17.06% |
3.42% |
| 碳酸锂 |
315,303.4 |
336,311.4 |
-0.25% |
282,139 |
364,218 |
-0.23% |
39.27% |
39.27% |
39.27% |
-5.19% |
