核心观点
　　今日各股指均窄幅震荡,午后高位回调,窄幅缩窄。消息面上,海外各国央行、政府以及金融监管迅速采取举措防止危机扩散与升级,市场情绪有所回暖，不过市场信心已受显著影响，短期内股市情绪难言乐观。因为这次危机的主要原因是2022年短时间内利率水平的快速抬升加重了银行期限结构的风险，而目前海外货币政策仍未转向，这意味着风险因素仍存，避险需求仍是资金的重要选项。目前国内经济强复苏预期大幅回落，政策预期已落地，利多动能大大减弱，近期海外风险因素上升以及中美地缘风险犹存，预计短期内股指以震荡整理为主。
　　目前期权隐含波动率有所上升，但位于合理区间范围操作上，近期消息面扰动因素加大，可以卖出低执行价格的虚值认沽期权，布局“低吸”机会。
　　

研究报告全文：金融期权日报专业研究创造价值2023年3月17日金融期权市场情绪偏谨慎股指反弹乏力核心观点今日各股指均窄幅震荡午后高位回调窄幅缩窄消息面上海外各国央行政府以及金融监管迅速采取举措防止危机扩散与升级市场情绪有所回暖不过市场信心已受显著影响短期内股市情绪难言乐观因为这次危机的主要原因是2022年短时间内利率水平的快速抬升加重了银行期限结构的风险而目前海外货币政策仍未转向这意味着风险因素仍存避险需求仍是资金的重要选项目前国内经济强复苏预期大幅回落政策预期已落地利多动能大大减弱近期海外风险因素上升以及中美地缘风险犹存预计短宝城期货研究所期内股指以震荡整理为主目前期权隐含波动率有所上升但位于合理区间范围操作上近期消息投资咨询团队面扰动因素加大可以卖出低执行价格的虚值认沽期权布局低吸机会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114请务必阅读文末免责条款金融期权日报1新闻动态据美国媒体3月16日报道包括高盛摩根士丹利摩根大通花旗银行美国银行富国银行等多家美国大型银行当天向第一共和银行注资300亿美元党和国家机构改革方案公布方案提出组建中央金融委员会负责金融稳定和发展的顶层设计统筹协调整体推进督促落实等不再保留国务院金融委及其办事机构将国务院金融委办公室职责划入中央金融委员会办公室组建中央科技委员会统筹推进国家创新体系建设和科技体制改革研究审议国家科技发展重大战略重大规划重大政策等2期权指标2023年03月17日50ETF涨038收于2637300ETF上交所涨053收于3954300ETF深交所涨057收于4024沪深300指数涨050收于395882中证1000指数涨070收于673637500ETF上交所涨058收于6201500ETF深交所涨064收于6320创业板ETF跌022收于2228深证100ETF涨010收于2929上证50指数涨022收于262859上证50ETF期权成交量PCR为9081上一交易日成交量PCR为11002持仓量PCR为7207上一交易日持仓量PCR为6842上交所3000ETF期权成交量PCR为9059上一交易日成交量PCR为10791持仓量PCR为8994上一交易日持仓量PCR为8740深交所300ETF期权成交量PCR为11278上一交易日成交量PCR为12846持仓量PCR为9732上一交易日持仓量PCR为9474沪深300指数期权成交量PCR为8046上一交易日成交量PCR为9186持仓量PCR为8101上一交易日持仓量PCR为8033中证1000指数期权成交量PCR为9120上一交易日成交量PCR为11153持仓量PCR为8915上一交易日持仓量PCR为8829上交所中证500ETF期权成交量PCR为10875上一交易日成交量PCR为12481持仓量PCR为10403上一交易日持仓量PCR为9961深交所中证500ETF期权成交量PCR为11802上一交易日成交量PCR为12609持仓量PCR为9774上一交易日持仓量PCR为9558创业板ETF期权成交量PCR为7089上一交易日成交量PCR为7558持仓量PCR为5153上一交易日持仓量PCR为4833深证100ETF期权成交量PCR为13362上一交易日成交量PCR为14670持仓量PCR为7952上一交易日持仓量PCR为7661上证50股指期权成交量PCR为7629上一交易日成交量PCR为7474持仓量PCR为4619上一交易日持仓量PCR为4637上证50ETF期权2023年04月平值期权隐含波动率为1825标的30交易日历史波动率为1550上交所300ETF期权2023年04月平值期权隐含波动率为1807标的30交易日历史波动率为1483深交所300ETF期权2023年04月平值期权隐含波动率为1803标的30交易日历史波动率为1486沪深300指数期权2023年04月平值期权隐含波动率为1650标的30交易日历史波动率为1484中证1000指数专业研究创造价值214请务必阅读文末免责条款金融期权日报期权2023年04月平值期权隐含波动率为1680标的30交易日历史波动率为1476上交所中证500ETF期权2023年04月平值期权隐含波动率为1830标的30交易日历史波动率为1299深交所中证500ETF期权2023年04月平值期权隐含波动率为1708标的30交易日历史波动率为1302创业板ETF期权2023年04月平值期权隐含波动率为2436标的30交易日历史波动率为1496深证100ETF期权2023年04月平值期权隐含波动率为2011标的30交易日历史波动率为1565上证50股指期权2023年04月平值期权隐含波动率为1701标的30交易日历史波动率为1522专业研究创造价值314请务必阅读文末免责条款金融期权日报3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50004520001800450041600400014003512003500100030003800250060025400200020015002010002021-02-012021-03-082021-05-072021-06-042021-08-022021-08-302021-11-032021-12-012022-01-272022-03-032022-05-052022-06-022022-07-012022-07-292022-08-262022-09-262022-10-312022-11-282022-12-262023-01-312023-02-282021-01-042021-04-062021-07-052021-09-292021-12-292022-03-312021-03-082021-04-062021-05-072021-06-042021-07-052021-09-292021-11-032021-12-012021-12-292022-01-272022-05-052022-06-022022-07-012022-07-292022-08-262022-10-312022-11-282022-12-262023-01-312023-02-282021-01-042021-02-012021-08-022021-08-302022-03-032022-03-312022-09-26标的成交量万手标的收盘价左轴标的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7000000140004500000160006000000120004000000140003500000500000010000120003000000100004000000800025000002000000800030000006000600020000001500000400010000004000100000020005000002000000000002021-01-042021-02-042021-05-252021-06-282021-07-292021-11-122021-12-152022-01-182022-05-092022-06-102022-07-132022-10-262022-11-282022-12-292021-03-162021-04-192021-08-312021-10-122022-02-252022-03-302022-08-152022-09-162023-02-082023-03-132021-01-042021-02-042021-03-162021-05-252021-06-282021-07-292021-08-312021-10-122021-12-152022-01-182022-02-252022-03-302022-07-132022-08-152022-09-162022-10-262023-02-082023-03-132021-04-192021-11-122022-05-092022-06-102022-11-282022-12-29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414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62000500018004500551600140040005120035001000300045800250060044002000200150035010002021-02-012021-03-082021-04-062021-06-042021-07-052021-08-302021-09-292021-12-012021-12-292022-03-032022-03-312022-06-022022-07-012022-08-262022-09-262022-11-282022-12-262023-02-282021-02-012021-03-082021-04-062021-05-072021-06-042021-08-302021-09-292021-11-032021-12-012022-03-032022-03-312022-05-052022-06-022022-07-012022-09-262022-10-312022-11-282022-12-262021-01-042021-05-072021-08-022021-11-032022-01-272022-05-052022-07-292022-10-312023-01-312021-01-042021-07-052021-08-022021-12-292022-01-272022-07-292022-08-262023-01-312023-02-28标的成交量万手标的收盘价左轴标的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50000001400030000001600014000400000012000250000010000120002000000100003000000800015000008000200000060001000000600040001000000400020005000002000000000002021-02-042021-03-162021-04-192021-07-292021-08-312021-10-122022-01-182022-02-252022-03-302022-05-092022-07-132022-08-152022-09-162022-10-262022-12-292023-02-082023-03-132021-01-042021-05-252021-06-282021-11-122021-12-152022-06-102022-11-282021-02-042021-03-162021-04-192021-05-252021-08-312021-10-122021-11-122021-12-152022-03-302022-05-092022-06-102022-07-132022-09-162022-10-262022-11-282022-12-292023-02-082021-01-042021-06-282021-07-292022-01-182022-02-252022-08-152023-03-13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514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600040045003505500400030035002505000300020045001502500200040001005015003500010002021-02-012021-03-082021-04-062021-05-072021-06-042021-08-302021-09-292021-11-032021-12-012022-03-032022-03-312022-05-052022-06-022022-07-012022-09-262022-10-312022-11-282022-12-262021-01-042021-07-052021-08-022021-12-292022-01-272022-07-292022-08-262023-01-312023-02-282021-01-042021-03-102021-04-092021-06-112021-07-132021-09-092021-10-192021-12-162022-01-172022-02-222022-03-232022-05-272022-06-282022-08-252022-09-262022-11-302022-12-292023-03-072021-02-022021-05-132021-08-112021-11-172022-04-252022-07-272022-11-012023-02-06标的成交量万手标的收盘价左轴标的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8000002000060000016000700000500000140006000001500012000500000400000100004000001000030000080003000002000006000200000500040001000001000002000000000002021-01-042021-03-162021-04-192021-05-252021-06-282021-08-312021-11-122021-12-152022-01-182022-02-252022-05-092022-07-132022-08-152022-09-162022-10-262022-12-292023-03-132021-02-042021-07-292021-10-122022-03-302022-06-102022-11-282023-02-082021-01-042021-03-162021-05-252021-07-292021-08-312021-10-122021-11-122022-01-182022-03-302022-06-102022-07-132022-08-152022-09-162022-11-282023-02-082021-02-042021-04-192021-06-282021-12-152022-02-252022-05-092022-10-262022-12-292023-03-13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614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股指期权沪深300股指期权6000003503500300550000300025050000020025004500001502000100400000150005035000000010002021-02-012021-03-082021-04-062021-05-072021-06-042021-08-302021-09-292021-11-032021-12-012022-03-032022-03-312022-05-052022-06-022022-07-012022-09-262022-10-312022-11-282022-12-262021-01-042021-07-052021-08-022021-12-292022-01-272022-07-292022-08-262023-01-312023-02-282021-01-042021-02-032021-04-142021-05-192021-06-212021-07-212021-11-012021-12-012021-12-312022-04-142022-05-192022-06-212022-07-212022-09-222022-10-312022-11-302022-12-302021-03-122021-08-202021-09-232022-02-092022-03-112022-08-222023-02-082023-03-10标的成交量亿手标的收盘价左轴标的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股指期权沪深300股指期权400000140003000001400035000012000250000120003000001000010000250000200000800080002000001500006000600015000010000010000040004000500002000500002000000000002021-01-042021-03-162021-05-252021-07-292021-08-312021-10-122021-11-122022-01-182022-03-302022-06-102022-07-132022-08-152022-09-162022-11-282023-02-082021-02-042021-04-192021-06-282021-12-152022-02-252022-05-092022-10-262022-12-292023-03-132021-01-042021-03-162021-04-192021-05-252021-06-282021-08-312021-11-122021-12-152022-01-182022-02-252022-05-092022-07-132022-08-152022-09-162022-10-262022-12-292023-03-132021-02-042021-07-292021-10-122022-03-302022-06-102022-11-282023-02-08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714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股指期权中证1000股指期权7500002503500700000200300065000015025006000001002000550000050150050000000010002022-07-222022-08-022022-08-112022-08-222022-08-312022-09-092022-09-212022-09-302022-11-162022-11-252022-12-062022-12-152022-12-262023-01-052023-01-162023-02-012023-02-102023-03-132022-10-182022-10-272022-11-072023-02-212023-03-022022-07-222022-08-092022-08-172022-08-252022-09-022022-09-212022-09-292022-10-142022-10-242022-11-092022-11-172022-11-252022-12-052022-12-292023-01-092023-01-172023-02-172023-02-272023-03-072023-03-152022-08-012022-09-132022-11-012022-12-132022-12-212023-02-012023-02-09标的成交量亿手标的收盘价左轴标的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股指期权中证1000股指期权180000160009000014000160000140008000012000140000700001200010000120000100006000010000050000800080000800040000600060006000030000400040000400020000200002000100002000000000002022-07-222022-08-022022-08-222022-08-312022-09-092022-09-212022-10-182022-10-272022-11-072022-11-252022-12-062022-12-152022-12-262023-01-162023-02-012023-02-102023-03-132022-08-112022-09-302022-11-162023-01-052023-02-212023-03-022022-07-222022-08-022022-08-112022-08-312022-09-092022-09-212022-10-182022-10-272022-11-162022-11-252022-12-062022-12-262023-01-052023-01-162023-02-102023-02-212023-03-022023-03-132022-08-222022-09-302022-11-072022-12-152023-02-01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814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66007002800640060026002400620050022006000400200018005800300160056002001400120054001001000520008002022-09-192022-10-172022-10-242022-10-312022-11-142022-11-212022-11-282022-12-052022-12-192022-12-262023-01-032023-01-102023-01-312023-02-072023-02-142023-02-282023-03-072023-03-142022-09-262022-10-102022-11-072022-12-122023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证50指数走势图38上证50股指期权波动率上证50股指期权上证50股指期权29000006022002850000502800002000275000040180027000003026500016002600000201400255000010250000120024500000010002022-12-192022-12-222022-12-302023-01-052023-01-102023-01-132023-01-302023-02-022023-02-072023-02-102023-02-202023-02-232023-02-282023-03-032023-03-132023-03-162022-12-272023-01-182023-02-152023-03-08标的成交量亿手标的收盘价左轴标的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39上证50股指期权成交量PCR图40上证50股指持仓量PCR上证50股指期权上证50股指期权90000120007000014000800006000012000700001000060000800050000100005000040000800060004000030000600030000400020000200004000100002000100002000000000002022-12-192022-12-222022-12-272022-12-302023-01-052023-01-132023-01-302023-02-022023-02-072023-02-102023-02-202023-02-282023-03-032023-03-082023-03-132023-03-162022-12-192022-12-222022-12-272022-12-302023-01-052023-01-132023-01-302023-02-022023-02-072023-02-102023-02-202023-02-282023-03-032023-03-082023-03-132023-03-162023-01-102023-01-182023-02-152023-02-232023-01-102023-01-182023-02-152023-02-23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1314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1414请务必阅读文末免责条款