今日各股指均呈现震荡上涨的走势。沪深两市全天成交额8072亿元,两市近3000只个股上涨，北向资金全天净买入77亿元。虽然目前国内疫情出于达峰的过程,疫情对经济冲击显著,这个从12月PMI数据可以看出来,不过随着国内各大城市逐步迈过疫情新增高峰,后续疫情对经济的负面影响将逐渐消退,稳增长政策助力下经济复苏预期回暖。当前政策端把支持恢复和扩大消费摆在优先位置，经济复苏的信心较为充足，叠加北上资金开年以来持续净流入,预计短期内大盘股指数表现以震荡偏强为主,小盘股指数仍易受经济弱现实扰动以区间震荡走势为主。
　　近期期权隐含波动率有所回升，处于正常分位数范围，考虑到股指中长期仍有向上动力，可以逢股指回调构建牛市价差策略或者比例价差策略。

研究报告全文：金融期权日报专业研究创造价值2023年1月9日金融期权经济复苏预期回暖股指延续反弹核心观点今日各股指均呈现震荡上涨的走势沪深两市全天成交额8072亿元两市近3000只个股上涨北向资金全天净买入77亿元虽然目前国内疫情出于达峰的过程疫情对经济冲击显著这个从12月PMI数据可以看出来不过随着国内各大城市逐步迈过疫情新增高峰后续疫情对经济的负面影响将逐渐消退稳增长政策助力下经济复苏预期回暖当前政策端把支持恢复和扩大消费摆在优先位置经济复苏的信心较为充足叠加北上资金开年以来持续净流入预计短期内大盘股指数表现以震荡偏强为主小盘股指数仍易受经济弱现实扰动以区间宝城期货研究所震荡走势为主近期期权隐含波动率有所回升处于正常分位数范围考虑到股指中长期仍投资咨询团队有向上动力可以逢股指回调构建牛市价差策略或者比例价差策略仅供参考不构成任何投资建议专业研究创造价值请务必阅读文末免责条款部分111请务必阅读文末免责条款金融期权日报1新闻动态上海银保监局等八部门印发上海银行业保险业十四五期间推动绿色金融发展服务碳达峰碳中和战略的行动方案方案提出到2025年绿色融资总量和结构进一步优化绿色融资余额突破15万亿元绿色保险覆盖面显著扩大保障金额突破15万亿元绿色债券绿色基金绿色信托绿色资管绿色租赁等业务稳健发展国务院联防联控机制关于印发新型冠状病毒感染防控方案第十版的通知周六印发方案提出在常态化情况下一般不需要采取紧急防控措施在疫情流行期间结合病毒变异情况疫情流行强度医疗资源负荷和社会运转情况综合评估适时依法采取临时性的防控措施有效统筹疫情防控和经济社会发展2期权指标2023年01月09日50ETF涨092收于2750300ETF上交所涨062收于4070300ETF深交所涨062收于4075沪深300指数涨081收于401312中证1000指数涨055收于653575500ETF上交所涨020收于6052500ETF深交所涨033收于6157创业板ETF涨064收于2365上证50ETF期权成交量PCR为8333上一交易日成交量PCR为9530持仓量PCR为14137上一交易日持仓量PCR为13253上交所3000ETF期权成交量PCR为8259上一交易日成交量PCR为9260持仓量PCR为12589上一交易日持仓量PCR为12318深交所300ETF期权成交量PCR为6898上一交易日成交量PCR为8991持仓量PCR为13148上一交易日持仓量PCR为13363中金所沪深300指数期权成交量PCR为7323上一交易日成交量PCR为8552持仓量PCR为11286上一交易日持仓量PCR为10862中金所中证1000指数期权成交量PCR为8402上一交易日成交量PCR为8002持仓量PCR为8639上一交易日持仓量PCR为8721上交所中证500ETF期权成交量PCR为8130上一交易日成交量PCR为9257持仓量PCR为12381上一交易日持仓量PCR为12247深交所中证500ETF期权成交量PCR为9192上一交易日成交量PCR为7885持仓量PCR为11406上一交易日持仓量PCR为11502创业板ETF期权成交量PCR为8561上一交易日成交量PCR为7403持仓量PCR为13321上一交易日持仓量PCR为12894上证50ETF期权2023年01月平值期权隐含波动率为1750标的30交易日历史波动率为1877上交所300ETF期权2023年01月平值期权隐含波动率为1570标的30交易日历史波动率为1573深交所300ETF期权2023年01月平值期权隐含波动率为1534标的30交易日历史波动率为1583中金所沪深300指数期权2023年01月平值期权隐含波动率为1781标的30交易日历史波动率为1591中金所中证1000指数期权2023年01月平值期权隐含波动率为1629标的30交易日历史波动率为1521上交所中证500ETF期权2023年01月平值期权隐含波动率为1349专业研究创造价值211请务必阅读文末免责条款金融期权日报标的30交易日历史波动率为1291深交所中证500ETF期权2023年01月平值期权隐含波动率为1335标的30交易日历史波动率为1296创业板ETF期权2023年01月平值期权隐含波动率为1864标的30交易日历史波动率为16333相关图表上证50ETF期权图1上证50ETF走势图2上证50ETF期权波动率50ETF期权50ETF期权50004520001800450041600400014003512003500100030003800250060025400200020015002010002021-01-292021-03-042021-03-312021-04-282021-05-282021-08-182021-09-142021-10-202021-11-162021-12-132022-02-112022-03-102022-04-082022-05-102022-06-072022-08-252022-09-222022-10-262022-11-222021-01-042021-06-252021-07-222022-01-102022-07-042022-07-292022-12-192021-01-042021-03-022021-03-262021-04-222021-05-212021-08-062021-09-012021-09-292021-11-012021-12-212022-01-172022-02-172022-03-152022-06-072022-07-012022-07-272022-08-222022-10-192022-11-142022-12-082023-01-042021-01-282021-06-172021-07-132021-11-252022-04-122022-05-112022-09-16标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图3上证50ETF期权成交量PCR图4上证50ETF持仓量PCR50ETF期权50ETF期权7000000140004500000160006000000120004000000140003500000500000010000120003000000100004000000800025000002000000800030000006000600020000001500000400010000004000100000020005000002000000000002021-01-042021-03-102021-05-132021-07-132021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-04-252022-06-282022-08-252022-11-012022-11-302022-12-292021-02-022021-04-092021-06-112021-08-112022-03-232022-05-272022-07-272022-09-262021-01-042021-03-102021-05-132021-06-112021-07-132021-08-112021-10-192021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-07-272022-09-262022-11-012022-11-302022-12-292021-02-022021-04-092021-09-092021-11-172022-06-282022-08-25日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值311请务必阅读文末免责条款金融期权日报上交所300ETF期权图5上交所300ETF走势图6上交所300ETF期权波动率300ETF期权上交所300ETF期权上交所6180050001600450055140040001200350051000300045800600250044002000200150035010002021-03-042021-03-312021-04-282021-05-282021-06-252021-09-142021-10-202021-11-162021-12-132022-01-102022-04-082022-05-102022-06-072022-07-042022-10-262022-11-222022-12-192021-01-282021-03-022021-03-262021-04-222021-07-132021-08-062021-09-012021-09-292021-11-252021-12-212022-01-172022-02-172022-05-112022-06-072022-07-012022-09-162022-10-192022-11-142022-12-082021-01-042021-01-292021-07-222021-08-182022-02-112022-03-102022-07-292022-08-252022-09-222021-01-042021-05-212021-06-172021-11-012022-03-152022-04-122022-07-272022-08-222023-01-04标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图7上交所300ETF期权成交量PCR图8上交所300ETF持仓量PCR300ETF期权上交所300ETF期权上交所50000001400030000001600014000400000012000250000010000120002000000100003000000800015000008000200000060001000000600040001000000400020005000002000000000002021-01-042021-02-022021-04-092021-06-112021-08-112021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-05-272022-07-272022-09-262022-11-302022-12-292021-03-102021-05-132021-07-132021-09-092022-04-252022-06-282022-08-252022-11-012021-02-022021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-11-172022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-08-252022-11-012022-11-302022-12-292021-01-042021-03-102021-10-192021-12-162022-07-272022-09-26日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值411请务必阅读文末免责条款金融期权日报深交所300ETF期权图9深交所300ETF走势图10深交所300ETF期权波动率300ETF期权深交所300ETF期权深交所600035045003005500400025035005000200300045001502500100200040005015003500010002021-01-282021-03-022021-03-262021-04-222021-07-132021-08-062021-09-012021-09-292021-11-252021-12-212022-01-172022-02-172022-05-112022-06-072022-07-012022-09-162022-10-192022-11-142022-12-082021-01-042021-05-212021-06-172021-11-012022-03-152022-04-122022-07-272022-08-222023-01-042021-01-042021-01-292021-03-042021-03-312021-04-282021-05-282021-09-142021-10-202021-11-162021-12-132022-01-102022-02-112022-03-102022-07-042022-07-292022-08-252022-09-222022-10-262022-11-222022-12-192021-06-252021-07-222021-08-182022-04-082022-05-102022-06-07标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图11深交所300ETF期权成交量PCR图12深交所300ETF持仓量PCR300ETF期权深交所300ETF期权深交所8000002000060000016000700000500000140006000001500012000500000400000100004000001000030000080003000002000006000200000500040001000001000002000000000002021-01-042021-02-022021-04-092021-05-132021-06-112021-08-112021-09-092021-10-192021-12-162022-01-172022-02-222022-04-252022-05-272022-06-282022-08-252022-09-262022-11-012022-12-292021-03-102021-07-132021-11-172022-03-232022-07-272022-11-302021-01-042021-02-022021-03-102021-05-132021-06-112021-07-132021-10-192021-11-172021-12-162022-02-222022-03-232022-04-252022-06-282022-07-272022-08-252022-11-302022-12-292021-04-092021-08-112021-09-092022-01-172022-05-272022-09-262022-11-01日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值511请务必阅读文末免责条款金融期权日报沪深300股指期权图13沪深300股指走势图14沪深300股指期权波动率沪深300指数期权沪深300指数期权6000003503500300550000300025050000020025004500001502000100400000150005035000000010002021-01-282021-03-022021-03-262021-04-222021-07-132021-08-062021-09-012021-09-292021-11-252021-12-212022-01-172022-02-172022-05-112022-06-072022-07-012022-09-162022-10-192022-11-142022-12-082021-01-042021-05-212021-06-172021-11-012022-03-152022-04-122022-07-272022-08-222023-01-042021-01-042021-02-012021-03-082021-04-062021-05-072021-06-042021-07-052021-08-022021-08-302021-09-292021-12-012022-01-272022-03-312022-06-022022-07-292022-09-262022-11-282021-11-032021-12-292022-03-032022-05-052022-07-012022-08-262022-10-312022-12-26标的成交量亿手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图15沪深300股指期权成交量PCR图16沪深300股指持仓量PCR沪深300指数期权沪深300指数期权4000001400030000012000350000120002500001000030000010000250000200000800080002000001500006000600015000010000040001000004000500002000500002000000000002021-01-042021-02-022021-03-102021-05-132021-06-112021-07-132021-10-192021-11-172021-12-162022-02-222022-03-232022-04-252022-06-282022-07-272022-08-252022-11-302022-12-292021-04-092021-08-112021-09-092022-01-172022-05-272022-09-262022-11-012021-01-042021-02-022021-04-092021-05-132021-06-112021-08-112021-09-092021-10-192021-12-162022-01-172022-02-222022-04-252022-05-272022-06-282022-08-252022-09-262022-11-012022-12-292021-03-102021-07-132021-11-172022-03-232022-07-272022-11-30日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值611请务必阅读文末免责条款金融期权日报中证1000股指期权图17中证1000股指走势图18中证1000股指期权波动率中证1000指数期权中证1000指数期权7500002503500700000200300065000015025006000001002000550000050150050000000010002022-07-222022-08-052022-08-122022-08-192022-08-262022-09-092022-09-192022-09-262022-10-172022-10-242022-10-312022-11-142022-11-212022-11-282022-12-122022-12-192022-12-262023-01-032022-07-292022-09-022022-10-102022-11-072022-12-052022-07-222022-07-292022-08-122022-08-262022-09-022022-09-092022-09-192022-09-262022-10-102022-10-172022-10-242022-11-072022-11-212022-11-282022-12-052022-12-122022-12-192022-12-262022-08-052022-08-192022-10-312022-11-142023-01-03标的成交量亿手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图19中证1000股指期权成交量PCR图20中证1000股指持仓量PCR中证1000指数期权中证1000指数期权180000160009000014000160000140008000012000140000700001200010000120000100006000010000050000800080000800040000600060006000030000400040000400020000200002000100002000000000002022-07-222022-07-292022-08-052022-08-192022-08-262022-09-022022-09-092022-09-262022-10-102022-10-172022-10-242022-11-072022-11-142022-11-212022-11-282022-12-122022-12-192022-12-262023-01-032022-08-122022-09-192022-10-312022-12-052022-07-222022-07-292022-08-052022-08-122022-09-022022-09-092022-09-192022-09-262022-10-102022-10-312022-11-072022-11-142022-11-212022-12-122022-12-192022-12-262023-01-032022-08-192022-08-262022-10-172022-10-242022-11-282022-12-05日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值711请务必阅读文末免责条款金融期权日报上交所500ETF期权图21上交所500ETF走势图22上交所500ETF期权波动率500ETF期权上交所500ETF期权上交所7006400280060062002600500240060002200400580020003001800200560016001400540010012000520010002022-09-192022-09-222022-09-272022-09-302022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052022-11-072022-11-102022-11-152022-11-182022-09-222022-09-272022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-072022-11-102022-11-152022-11-182022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272023-01-052022-09-192022-09-302022-12-30标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图23上交所500ETF期权成交量PCR图24上交所500ETF持仓量PCR500ETF期权上交所500ETF期权上交所14000002000080000012000001400070000010000001500012000600000100008000005000001000080006000004000004000005000300000600020000020000040000000100000200000002022-09-192022-09-292022-10-122022-10-242022-10-282022-11-092022-11-152022-11-252022-12-012022-12-132022-12-192022-12-292023-01-052022-09-232022-10-182022-11-032022-11-212022-12-072022-12-232022-09-192022-09-232022-09-292022-10-122022-10-182022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-292023-01-052022-10-282022-12-132022-12-192022-12-23日认购成交量日认沽成交量日成交量PCR2022-10-24日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值811请务必阅读文末免责条款金融期权日报深交所500ETF期权图25深交所500ETF走势图26深交所500ETF期权波动率500ETF期权深交所500ETF期权深交所25064002800260020062002400220015060002000100580018001600505600140012000540010002022-09-222022-09-272022-10-122022-10-172022-10-252022-10-282022-11-022022-11-072022-11-102022-11-152022-11-182022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052022-09-192022-09-302022-10-202022-09-192022-09-222022-09-272022-09-302022-10-122022-10-172022-10-202022-10-252022-10-282022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052022-11-022022-11-072022-11-102022-11-152022-11-18标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图27深交所500ETF期权成交量PCR图28深交所500ETF持仓量PCR500ETF期权深交所500ETF期权深交所300000200002500002000025000020000015000150002000001500001500001000010000100000100000500050005000050000000000002022-09-192022-09-232022-09-292022-10-122022-10-182022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-292023-01-052022-10-242022-10-282022-11-032022-12-132022-12-192022-12-232022-09-192022-09-232022-09-292022-10-122022-10-182022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-292023-01-052022-10-242022-10-282022-11-032022-12-132022-12-192022-12-23日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值911请务必阅读文末免责条款金融期权日报创业板ETF期权图29创业板ETF走势图30创业板ETF期权波动率创业板ETF期权创业板ETF期权120024003900235010003400800230022502900600220024004002150190020021000205014002022-09-192022-09-222022-09-272022-09-302022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052022-11-072022-11-102022-11-152022-11-182022-09-222022-09-272022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-072022-11-102022-11-152022-11-182022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272023-01-052022-09-192022-09-302022-12-30标的成交量万手标的收盘价标的30日历史波动率平值期权隐含波动率数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所图31创业板ETF期权成交量PCR图32创业板ETF持仓量PCR创业板ETF期权创业板ETF期权180000014000800000160001600000120007000001400014000001000060000012000120000050000010000008000100004000008000800000600060000030000060004000004000200000400020000020001000002000000000002022-09-192022-09-232022-09-292022-10-122022-10-182022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-292023-01-052022-10-242022-10-282022-12-132022-12-192022-12-232022-09-192022-09-292022-10-122022-10-242022-10-282022-11-092022-11-152022-11-252022-12-012022-12-132022-12-192022-12-292023-01-052022-09-232022-10-182022-11-032022-11-212022-12-072022-12-23日认购成交量日认沽成交量日成交量PCR日认购持仓量日认沽持仓量日持仓量PCR数据来源iFinD宝城期货研究所数据来源iFinD宝城期货研究所专业研究创造价值1011请务必阅读文末免责条款金融期权日报投资咨询团队简介获取每日期货策略推送服务国家走向世界诚信至上合规经营知行合一专业敬业严谨管理开拓进取扫码关注宝城期货官方微信期货咨询尽在掌握免责条款客户不应视本报告为作出投资决策的唯一因素本报告中所指的投资及服务可能不适合个别客户不构成客户私人咨询建议本公司未确保本报告充分考虑到个别客户特殊的投资目标财务状况或需要本公司建议客户应考虑本报告的任何意见或建议是否符合其特定状况以及若有必要咨询独立投资顾问在任何情况下本报告中的信息或所表述的意见并不构成对任何人的投资建议在任何情况下本公司不对任何人因使用本报告中的任何内容所引致的任何损失负任何责任若本报告的接收人非本公司的客户应在基于本报告作出任何投资决定或就本报告要求任何解释前咨询独立投资顾问专业研究创造价值1111请务必阅读文末免责条款