【基本面信息】
　　橡胶：截至2023年9月22日，上期所天然橡胶库存236252（2058）吨，仓单215330（7010）吨，20号胶库存71164（2821）吨，仓单66125 （ -1412）吨。
　　甲醇：库存方面，港口库存总量报114.56万吨，环比+1.35万吨。企业库存环比-3.63万吨，报36.26万吨。传统需求甲醛开工回升，其余开工小幅回落，总体需求变化不大。江浙MTO开工89.61%，环比+11.13%，整体甲醇制烯烃开工87.39%，环比+3.14%。
　　 PVC：PVC开工提升，前期检修装置复产，10月部分检修推迟至11月，预计后期开工将维持高位。厂库库存小幅累库。上周出口成交持续偏弱，下游开工提升。
　　塑料：度库存方面，生产企业库存40.84万吨，环比去库4.45万吨，贸易商库存报4.73万吨，环比累库0.08万吨。下游平均开工率48.06%，环比上涨1.07%。
　　【期权分析及策略建议】
　　（1）橡胶期权
　　橡胶经过前期持续多头突破上涨，而后维持两周多以来高位大幅震荡，上周以来连续报收阴线逐渐转弱势，本周延续空头下行趋势，形成上方有压力的短期空头趋势的市场行情走势形态，跌幅1.48%报收于13955；期权隐含波动率报收于24.02%（-0.11%），持仓量PCR偏低位置窄幅盘整报收于0.62。
　　期权分析：标的行情，沪胶偏大幅区间震荡逐渐下降回落转为弱势的市场行情格局；期权角度，持仓量PCR维持在较低水平；波动上，橡胶期权隐含波动率中位数偏上。
　　策略建议：构建卖出偏空头的宽跨式期权组合策略，获取时间价值收益和方向性收益，若市场行情急速大涨，则逐渐平仓离场，如RU2401期权，S_RU2401P13750@10，S_RU2401P13500@10和S_RU2401C14250@10，S_RU2401C14000@10。
　　（2）甲醇期权
　　甲醇上周冲高回落后连续报收大阴线，跌破一周多以来的低点，近两周以来形成倒"V"型走势，市场行情短期弱势形态，跌幅1.60%报收于2462，期权隐含波动率报收于35.43%（+0.13%），持仓量PCR持续下降报收于0.74。
　　期权分析：标的行情，甲醇表现为中期趋势向上短期转为弱势偏空头的市场行情走势形态；期权角度，持仓量PCR窄幅盘整较高位置水平；波动上，甲醇期权隐含波动率持续上升历史较高位置水平。
　　策略建议：构建偏空头的卖出看涨+看跌期权组合策略，获取时间价值收益和方向性收益，根据市场行情变化，动态的调整持仓delta，使得持仓delta保持负数，若市场行情急速大涨或大跌，突破损益平衡点，则逐渐平仓离场，如MA2311期权，S_MA2311P2425@10，S_MA2311P2450@10和S_MA211C2450@10，S_MA2311C2500@10。
　　（3）PTA期权
　　PTA上周以来冲高回落连续报收阴线，本周延续空头下行趋势，形成中期趋势线方向向上短期弱势偏空头的市场行情走势形态，跌幅1.09%报收于6190，期权隐含波动率报收于30.25%（-0.10%），持仓量PCR持续下降报收于0.77。
　　期权分析：标的行情，PTA表现为多头突破区间上限大幅上涨，而后连续报收大阴线大幅下跌的走势形态；期权角度，持仓量PCR逐渐上升维持较高位置；波动上，PTA期权隐含波动率持续上升至历史中位数偏高水平。
　　策略建议：构建卖出看涨+看跌偏空头的期权组合策略，获取方向性收益和时间价值收益，若市场行情快速大涨或大跌，突破损益平衡点，则逐渐平仓离场，如TA2311期权，S_TA2311P6100@10，S_TA2311P6000@10和S_TA2311C6300@10，S_TA2311C6200@10。
　　（4）塑料期权
　　塑料上周冲高回落后连续大幅下跌，跌破近一个月以来地点，市场行情空头情绪较浓，形成上方有压力的空头趋势走势形态，跌幅0.41%报收于8225；期权隐含波动率报收于16.35%（-0.08%），持仓量PCR小幅下降报收于1.32。
　　期权分析：标的行情，塑料跌破震荡区间下限短期弱势偏空头的市场行情格局；期权角度，持仓量PCR偏中性位置；波动上，塑料期权隐含波动率历史中位数水平。
　　策略建议：构建卖出偏空头的宽跨式期权组合策略，获取时间价值收益，若市场行情快速大涨或大跌，突破损益平衡点，则平仓离场，如L2401期权，S_L2401-P-8200@10，S_L2401-P-8100@10和S_L2401-C-8200@10，S_L2401-C-8300@10。
　　（5）PVC期权
　　PVC前一周以来逐渐转偏弱下降回落，上周以来加速下跌跌破近两周以来的低点，形成近期弱势行情走势形态，跌幅0.89%报收于6215；期权隐含波动率报收于24.69%（+0.10%），持仓量PCR小幅盘整报收于0.57。
　　期权分析：标的行情，PVC沿着空头趋势方向震荡下行的市场行情走势；期权角度，持仓量PCR较低位置；波动上，PVC期权隐含波动率中位数水平。
　　策略建议：构建卖出偏空头的宽跨式期权组合策略，获取方向性收益和时间价值收益，若市场行情快速大涨或大跌，突破损益平衡点，则平仓离场，如V2401期权，S_V2401-P-6100@10，S_V2401-P-6200@10和S_V2401-C6300@10，S_V2401-C-6200@10。
　　

研究报告全文：能源化工期权日报期权研究2023年9月26日星期二基本面信息卢品先橡胶截至2023年9月22日上期所天然橡胶库存2362522058吨仓单2153307010吨20号胶库存711642821吨仓单66125-1412吨投研经理甲醇库存方面港口库存总量报11456万吨环比135万吨企业库存环比-363万吨报3626万吨传统0755-23375252需求甲醛开工回升其余开工小幅回落总体需求变化不大江浙MTO开工8961环比1113整体甲醇制烯烃lupxwkqhcn开工8739环比314从业资格号PVCPVC开工提升前期检修装置复产10月部分检修推迟至11月预计后期开工将维持高位厂库库存小幅累库上周出口成交持续偏弱下游开工提升F3047321塑料度库存方面生产企业库存4084万吨环比去库445万吨贸易商库存报473万吨环比累库008交易咨询号万吨下游平均开工率4806环比上涨107Z0015541期权分析及策略建议1橡胶期权常俊萍橡胶经过前期持续多头突破上涨而后维持两周多以来高位大幅震荡上周以来连续报收阴线逐渐转弱势本期权研究员周延续空头下行趋势形成上方有压力的短期空头趋势的市场行情走势形态跌幅148报收于13955期权隐含波changjpwkqhcn动率报收于2402-011持仓量PCR偏低位置窄幅盘整报收于062期权分析标的行情沪胶偏大幅区间震荡逐渐下降回落转为弱势的市场行情格局期权角度持仓量PCR维持从业资格号在较低水平波动上橡胶期权隐含波动率中位数偏上F03117406策略建议构建卖出偏空头的宽跨式期权组合策略获取时间价值收益和方向性收益若市场行情急速大涨则逐渐平仓离场如RU2401期权SRU2401P1375010SRU2401P1350010和SRU2401C1425010SRU2401C14000102甲醇期权甲醇上周冲高回落后连续报收大阴线跌破一周多以来的低点近两周以来形成倒V型走势市场行情短期弱势形态跌幅160报收于2462期权隐含波动率报收于3543013持仓量PCR持续下降报收于074期权分析标的行情甲醇表现为中期趋势向上短期转为弱势偏空头的市场行情走势形态期权角度持仓量PCR窄幅盘整较高位置水平波动上甲醇期权隐含波动率持续上升历史较高位置水平策略建议构建偏空头的卖出看涨看跌期权组合策略获取时间价值收益和方向性收益根据市场行情变化动态的调整持仓delta使得持仓delta保持负数若市场行情急速大涨或大跌突破损益平衡点则逐渐平仓离场如MA2311期权SMA2311P242510SMA2311P245010和SMA211C245010SMA2311C2500103PTA期权PTA上周以来冲高回落连续报收阴线本周延续空头下行趋势形成中期趋势线方向向上短期弱势偏空头的市场行情走势形态跌幅109报收于6190期权隐含波动率报收于3025-010持仓量PCR持续下降报收于077期权分析标的行情PTA表现为多头突破区间上限大幅上涨而后连续报收大阴线大幅下跌的走势形态期权角度持仓量PCR逐渐上升维持较高位置波动上PTA期权隐含波动率持续上升至历史中位数偏高水平策略建议构建卖出看涨看跌偏空头的期权组合策略获取方向性收益和时间价值收益若市场行情快速大涨或大跌突破损益平衡点则逐渐平仓离场如TA2311期权STA2311P610010STA2311P600010和STA2311C630010STA2311C6200104塑料期权塑料上周冲高回落后连续大幅下跌跌破近一个月以来地点市场行情空头情绪较浓形成上方有压力的空头趋势走势形态跌幅041报收于8225期权隐含波动率报收于1635-008持仓量PCR小幅下降报收于132期权分析标的行情塑料跌破震荡区间下限短期弱势偏空头的市场行情格局期权角度持仓量PCR偏中性位置波动上塑料期权隐含波动率历史中位数水平策略建议构建卖出偏空头的宽跨式期权组合策略获取时间价值收益若市场行情快速大涨或大跌突破损益平衡点则平仓离场如L2401期权SL2401-P-820010SL2401-P-810010和SL2401-C-820010SL2401-C-8300105PVC期权PVC前一周以来逐渐转偏弱下降回落上周以来加速下跌跌破近两周以来的低点形成近期弱势行情走势形态跌幅089报收于6215期权隐含波动率报收于2469010持仓量PCR小幅盘整报收于057期权分析标的行情PVC沿着空头趋势方向震荡下行的市场行情走势期权角度持仓量PCR较低位置波动上PVC期权隐含波动率中位数水平策略建议构建卖出偏空头的宽跨式期权组合策略获取方向性收益和时间价值收益若市场行情快速大涨或大跌突破损益平衡点则平仓离场如V2401期权SV2401-P-610010SV2401-P-620010和SV2401-C-630010SV2401-C-620010市场行情期权品种标的合约收盘价涨跌涨跌幅成交量万成交额亿RURU24011395500-21000-148257436464MAMA2311246200-4000-16022375596PTATA2311619000-6800-10921766807LPGPG2311556800-11100-195191721770LL2401822500-3400-041339514021PPPP2401776200-6800-087453917770PVCV2401621500-5600-0891119735110数据来源wind资讯五矿期货期权事业部主力期货合成期权期权标的合约平值期权权利金C权利金P合成价格涨跌涨跌幅升贴水剩余天数到期日RU240114000683005720014111-15500-10915600912023-12-25MA23112450610039002472-6000-2371000162023-10-11TA231162001320085006247-3600-0575700162023-10-11PG2311555021380115205649-3900-0698060182023-10-13L2401820025150188008264-3600-0433850732023-12-07PP2401780022500226007799-9000-1143700732023-12-07V2401620026050222506238-6950-1102300732023-12-07数据来源wind资讯五矿期货期权事业部注平值是以主力月合约call与put权利金相减最小为基准平值合成期权升贴水平值call权利金-pu权利金-标的价格主力期权合约隐含波动率期权标的合约IMP-CIMP-PIMP-T变化MA20UPLOWRU2401247821872402-011223324681999MA2311384432103543013285832332482TA2311312028853025-010253028312229PG2311389241614060052314335642723L2401166416061635-008150916021416PP2401173216961710017157716861468V2401265321802469010216923601977数据来源wind资讯五矿期货期权事业部主力期权合约持仓量PCR期权标的合约量-Call量-Put量-PCR变化持仓-Call持仓-Put持仓-PCR变化RU240167621537023-0122877017836062-002MA231155196391116000181224134845074-014TA231155524732085022231357177184077-000PG2311211624791170051228723600192-007L24016928101170261181415589132-005PP240174512101620471946224929128009V240116451355082-0046044434544057003数据来源wind资讯五矿期货期权事业部标的价量关系图1橡胶主力合约走势图15000成交量万120141200014500收盘价100140001350080130006012500401200011500201100002023-05-232023-06-052023-09-122023-09-252023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-262023-05-312023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-152023-09-20图2甲醇主力合约走势图2700成交量万3752600收盘价248000250030024002252300220015021002000751900180002023-03-282023-07-272023-09-202023-03-232023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-25图3PTA主力合约走势图6500621800400成交量万收盘价32060002405500160500080450002023-03-312023-07-272023-09-042023-03-232023-03-282023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-072023-09-122023-09-152023-09-202023-09-25标的价量关系图4LPG主力合约走势图600056550035成交量万收盘价305500255000204500151040005350002023-06-082023-07-242023-09-042023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-072023-09-122023-09-152023-09-202023-09-25图5塑料主力合约走势图850060成交量万收盘价83005082580040810030790020770010750002023-03-282023-05-262023-07-242023-03-232023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25图6PP主力合约走势图820080成交量万收盘价80007077890078006050760040740030720020700010680002023-03-282023-05-262023-07-242023-03-232023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25图8PVC主力合约走势图68001806600收盘价收盘价1601406400120620010060008062470060580040560020540002023-04-242023-06-282023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-272023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25橡胶期权持仓分布橡胶期权持仓分布图橡胶期权持仓变化图9000300800025070002006000150100500050400003000-502000-1001000-1500-20010750107501125011750122501275013250137501425014750152501575016250107501125011750122501275013250137501425014750152501575016250OIPOICOICHANGEPOICHANGEC橡胶期权最大未平仓橡胶认购认沽合约最大持仓量所在的行权价17000160001500014000130001200011000100002023-04-062023-04-272023-03-232023-03-282023-03-312023-04-112023-04-142023-04-192023-04-242023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25橡胶期权到期日收盘价C最大持仓P最大持仓橡胶期权持仓量PCR橡胶期权隐含波动率08015000OIPCR141200030CLOSE145000700620028140002606013500240501300022125002004018120000301611500020110002023-06-132023-03-232023-03-312023-04-112023-04-192023-04-272023-05-102023-05-182023-05-262023-06-052023-06-212023-07-032023-07-112023-07-192023-07-272023-08-042023-08-142023-08-222023-08-302023-09-072023-09-152023-09-252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOW甲醇期权持仓分布甲醇期权持仓分布图甲醇期权持仓变化图250001000080002000060001500040002000100000-20005000-40000-60002100245018501900195020002050215022002250230023502400250026002700280029003000310018501900195020002050210021502200225023002350240024502500260027002800290030003100OIPOICOICHANGEPOICHANGEC甲醇期权最大未平仓甲醇认购认沽合约最大持仓量所在的行权价320030002800260024002200200018002023-04-272023-06-162023-08-222023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-05-052023-05-102023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25甲醇期权到期日收盘价C最大持仓P最大持仓甲醇期权持仓量PCR甲醇期权隐含波动率2402700OIPCR402600200CLOSE352500301602400248000230025120220020080210015200004010190000018002023-04-272023-07-032023-08-302023-03-232023-03-312023-04-112023-04-192023-05-102023-05-182023-05-262023-06-052023-06-132023-06-212023-07-112023-07-192023-07-272023-08-042023-08-142023-08-222023-09-072023-09-152023-09-252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOWPTA期权持仓分布PTA期权持仓分布图PTA期权持仓变化图8000040007000020006000005000040000-200030000-400020000-6000100000-8000610061004650465047504850495051005300550057005900630065006700690046504750485049505100530055005700590061006300650067006900OIPOICOICHANGEPOICHANGECPTA期权最大未平仓PTA认购认沽合约最大持仓量所在的行权价8000750070006500600055005000450040002023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023202320232023-------------------------------------------06090303030404040404040505050505050506060606060707070707070708080808080808080909090909-------------------------------------------16152328310611141924270510151823263105081321280306111419242701040914172225300407122025PTA期权到期日收盘价C最大持仓P最大持仓PTA期权持仓量PCRPTA期权隐含波动率6218002406500OIPCR45210CLOSE18060003515012055002509006050001503000045002023-06-212023-03-232023-03-312023-04-112023-04-192023-04-272023-05-102023-05-182023-05-262023-06-052023-06-132023-07-032023-07-112023-07-192023-07-272023-08-042023-08-142023-08-222023-08-302023-09-072023-09-152023-09-252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOWLPG期权持仓分布LPG期权持仓分布图LPG期权持仓变化图60005004005000300200400010003000-1002000-200-3001000-400-5000-6004150415043004450460047503550355037003850400047504900505052005350550056505800595062006500355037003850400041504300445046004900505052005350550056505800595062006500OIPOICOICHANGEPOICHANGECLPG期权最大未平仓LPG认购认沽合约最大持仓量所在的行权价60005500500045004000350030002023-05-102023-08-012023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25LPG期权到期日收盘价C最大持仓P最大持仓LPG期权持仓量PCRLPG期权隐含波动率5655005006000OIPCR40CLOSE4005500353030050002520045002010040001500035002023-03-232023-03-312023-04-112023-04-192023-04-272023-05-102023-05-182023-05-262023-06-052023-06-132023-06-212023-07-032023-07-112023-07-192023-07-272023-08-042023-08-142023-08-222023-08-302023-09-072023-09-152023-09-252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOW塑料期权持仓分布塑料期权持仓分布图塑料期权持仓变化图35003003000200100250002000-1001500-2001000-300500-4000-5007600760068008200660066006800700072007400780080008200840086008800900092009400960066007000720074007600780080008400860088009000920094009600OIPOICOICHANGEPOICHANGEC塑料期权最大未平仓塑料认购认沽合约最大持仓量所在的行权价10000950090008500800075007000650060002023-05-182023-07-142023-09-072023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-102023-05-152023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-122023-09-152023-09-202023-09-25塑料期权到期日收盘价C最大持仓P最大持仓塑料期权持仓量PCR塑料期权隐含波动率22160OIPCR900020140CLOSE8750181208258008500161008250140808000120601020232023202320232023202320232023202320232023202320232023202304077502023----------------0304040505060606070708080809090207500042023202320232023202320232023202320232023202320232023202320232023202320232023----------------23041727122405152911210214240515-------------------05070304040405050606060707080808090909-------------------08182303132417260615280727071625051425IMPVMA20UPLOWPP期权持仓分布PP期权持仓分布图PP期权持仓变化图2500120010002000800600150040020010000500-200-4000-60066006600600060006000620064006800700072007400760078008000820084008600880090009200940062006400660068007000720074007600780080008200840086008800900092009400OIPOICOICHANGEPOICHANGECPP期权最大未平仓PP认购认沽合约最大持仓量所在的行权价90008500800075007000650060002023-05-102023-08-012023-03-232023-03-282023-03-312023-04-062023-04-112023-04-142023-04-192023-04-242023-04-272023-05-052023-05-152023-05-182023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-152023-09-202023-09-25聚丙烯期权到期日收盘价C最大持仓P最大持仓PP期权持仓量PCRPP期权隐含波动率180OIPCR850020778900160CLOSE1980001814017161207500151410070001312080116500102023202320232023202320232023202320232023202320232023202320232023202320232023202320230602023----------------------030404040505050606060707070708080808090909040600003----------------------311123192710182605132103111927041422300715252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOWPVC期权持仓分布PVC期权持仓分布图PVC期权持仓变化图1600060014000400120002001000008000-2006000-4004000-6002000-8000-10004950495051005300550057005900610063006500670069007100730075007700495051005300550057005900610063006500670069007100730075007700OIPOICOICHANGEPOICHANGECPVC期权最大未平仓PVC认购认沽合约最大持仓量所在的行权价8500800075007000650060005500500045002023-03-312023-04-242023-05-182023-09-152023-03-232023-03-282023-04-062023-04-112023-04-142023-04-192023-04-272023-05-052023-05-102023-05-152023-05-232023-05-262023-05-312023-06-052023-06-082023-06-132023-06-162023-06-212023-06-282023-07-032023-07-062023-07-112023-07-142023-07-192023-07-242023-07-272023-08-012023-08-042023-08-092023-08-142023-08-172023-08-222023-08-252023-08-302023-09-042023-09-072023-09-122023-09-202023-09-25聚氯乙烯期权到期日收盘价C最大持仓P最大持仓PVC期权持仓量PCRPVC期权隐含波动率1208000OIPCR28CLOSE2675001002422624700700008020650018160606000141204055001002050002023-06-212023-03-232023-03-312023-04-112023-04-192023-04-272023-05-102023-05-182023-05-262023-06-052023-06-132023-07-032023-07-112023-07-192023-07-272023-08-042023-08-142023-08-222023-08-302023-09-072023-09-152023-09-252023-09-152023-04-042023-04-172023-04-272023-05-122023-05-242023-06-052023-06-152023-06-292023-07-112023-07-212023-08-022023-08-142023-08-242023-09-052023-03-23IMPVMA20UPLOW免责声明五矿期货有限公司是经中国证监会批准设立的期货经营机构已具备有商品期货经纪金融期货经纪资产管理期货交易咨询等业务资格本刊所有信息均建立在可靠的资料来源基础上我们力求能为您提供精确的数据客观的分析和全面的观点但我们必须声明对所有信息可能导致的任何损失概不负责本报告并不提供量身定制的交易建议报告的撰写并未虑及读者的具体财务状况及目标五矿期货研究团队建议交易者应独立评估特定的交易和战略并鼓励交易者征求专业财务顾问的意见具体的交易或战略是否恰当取决于交易者自身的状况和目标文中所提及的任何观点都仅供参考不构成买卖建议版权声明本报告版权为五矿期货有限公司所有本刊所含文字数据和图表未经五矿期货有限公司书面许可任何人不得以电子机械影印录音或其它任何形式复制传播或存储于任何检索系统不经许可复制本刊任何内容皆属违反版权法行为可能将受到法律起诉并承担与之相关的所有损失赔偿和法律费用五矿期货分支机构深圳总部业务一部深圳市南山区滨海大道3165号五矿金融大厦13-16层电话400-888-5398电话0755-83252740业务二部业务三部电话0755-88917165电话0755-83752356业务四部业务五部电话010-68331868-183电话028-85053476深圳营业部北京分公司深圳市福田区福华三路1006号诺德大厦30D1北京市海淀区首体南路6号新世纪世行饭店写字楼1253室电话0755-83752310电话010-68332068上海分公司成都分公司上海市浦东新区向城路288号国华人寿金融大厦902903成都高新区天府大道北段1288号1幢3单元12层12041205电话021-58784529电话028-86131072青岛分公司北京营业部山东省青岛市东海西路35号太平洋中心1写字楼409北京市丰台区广安路9号院6号楼408409电话0532-85780820电话010-64185322广州分公司湛江营业部广东省广州市天河区珠江西路17号广晟国际大厦24楼2407广东省湛江市开发区乐山东路35号银隆广场12层A1210室电话020-29117582电话0759-2856220天津营业部西安营业部天津市滨海高新区华苑产业区梅苑路5号金座广场2101-陕西省西安市新城区纬什街新科路1号楼一层2102电话029-87572985电话022-23778878宁波中山西路营业部重庆营业部浙江省宁波市海曙区布政巷16号12楼1205室重庆市江北区江北城西大街25号11-1电话0574-87330527电话023-67078086郑州营业部南通营业部郑州市未来路69号未来大厦16层1612号江苏省南通市青年东路81号南通大饭店B楼财富中心2003室电话0371-65619030电话0513-81026105杭州民心路营业部台州爱华路营业部浙江省杭州市江干区万银大厦1408室浙江省台州市椒江区爱华新台州大厦8-A电话0571-81969926电话0576-89811511济南营业部昆明营业部山东省济南市历下区山大路201号天业科技商务大厦401云南省昆明市盘龙区北京路612号银海国际公寓D座3201室427室电话0871-63338532电话0531-83192255大连营业部唐山营业部辽宁省大连市沙河口区会展路大连国际金融中心A座大连期河北省唐山市路北区军鑫里凤城国贸1楼21层2104号货大厦2001号电话0315-5936395电话0411-84800452深圳水贝营业部武汉营业部深圳市罗湖区翠竹街道翠锦社区布心路3033号水贝壹号湖北省武汉市江岸区三阳路8号天悦星辰A栋26楼2602室A1505电话0755-23375007电话0755-25122340