今日各股指均呈现震荡小幅上涨的的走势。沪深两市全天成交额7491亿元。贵金属、教育、稀土永磁等板块涨幅居前，证券等板块飘绿。两市超3800只个股上涨。北向资金全天净买入92.57亿元，为连续13个交易日净流入,2023年1月已累计净买入近1100亿元,创历史记录。随着稳增长政策接连落地，全国各地疫情陆续达峰，经济复苏预期升温，叠加目前股指的估值水平较低，盈利修复预期成为目前股指反弹的主要逻辑,股指中长期向上的趋势不变。预计春节假期结束后，假期离场观望资金回流股市将推动股指延续反弹走势。
　　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20日金融期权预计假期后股指将延续涨势核心观点今日各股指均呈现震荡小幅上涨的的走势沪深两市全天成交额7491亿元贵金属教育稀土永磁等板块涨幅居前证券等板块飘绿两市超3800只个股上涨北向资金全天净买入9257亿元为连续13个交易日净流入2023年1月已累计净买入近1100亿元创历史记录随着稳增长政策接连落地全国各地疫情陆续达峰经济复苏预期升温叠加目前股指的估值水平较低盈利修复预期成为目前股指反弹的主要逻辑股指中长期向上的趋势不变预计春节假期结束后假期离场观望资金回流股市将推动股指延续反弹走势宝城期货研究所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投资咨询团队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新闻动态中国人民银行授权全国银行间同业拆借中心公布2023年1月20日贷款市场报价利率LPR为1年期LPR为3655年期以上LPR为432期权指标2023年01月20日50ETF涨067收于2848300ETF上交所涨055收于4181300ETF深交所涨050收于4253沪深300指数涨061收于418153中证1000指数涨091收于673685500ETF上交所涨072收于6277500ETF深交所涨066收于6379创业板ETF涨044收于2507上证50ETF期权成交量PCR为7994上一交易日成交量PCR为9641持仓量PCR为12598上一交易日持仓量PCR为12580上交所3000ETF期权成交量PCR为8358上一交易日成交量PCR为8988持仓量PCR为12751上一交易日持仓量PCR为12717深交所300ETF期权成交量PCR为7629上一交易日成交量PCR为7551持仓量PCR为14686上一交易日持仓量PCR为14408中金所沪深300指数期权成交量PCR为7032上一交易日成交量PCR为7956持仓量PCR为12805上一交易日持仓量PCR为12332中金所中证1000指数期权成交量PCR为8069上一交易日成交量PCR为7970持仓量PCR为8910上一交易日持仓量PCR为8567上交所中证500ETF期权成交量PCR为8183上一交易日成交量PCR为7187持仓量PCR为12067上一交易日持仓量PCR为11711深交所中证500ETF期权成交量PCR为6822上一交易日成交量PCR为7732持仓量PCR为9670上一交易日持仓量PCR为10034创业板ETF期权成交量PCR为7734上一交易日成交量PCR为7523持仓量PCR为12277上一交易日持仓量PCR为13407上证50ETF期权2023年02月平值期权隐含波动率为1249标的30交易日历史波动率为1376上交所300ETF期权2023年02月平值期权隐含波动率为1218标的30交易日历史波动率为1258深交所300ETF期权2023年02月平值期权隐含波动率为1201标的30交易日历史波动率为1260中金所沪深300指数期权2023年02月平值期权隐含波动率为1829标的30交易日历史波动率为1264中金所中证1000指数期权2023年02月平值期权隐含波动率为1716标的30交易日历史波动率为1507上交所中证500ETF期权2023年02月平值期权隐含波动率为1068标的30交易日历史波动率为1249深交所中证500ETF期权2023年02月平值期权隐含波动率为1018标的30交易日历史波动率为1251创业板ETF期权2023年02月平值期权隐含波动率为1561标的30交易日历史波动率为17113相关图表上证50ETF期权专业研究创造价值211请务必阅读文末免责条款金融期权日报图1上证50ETF走势图2上证50ETF期权波动率50ETF期权50ETF期权45200050001800450041600400014003512003500100030003800250060025400200020015002010002021-01-042021-01-292021-03-042021-03-312021-04-282021-05-282021-06-252021-07-222021-08-182021-09-142021-10-202021-11-162021-12-132022-01-102022-02-112022-03-102022-04-082022-05-102022-06-072022-07-042022-07-292022-08-252022-09-222022-10-262022-11-222022-12-192023-01-162021-01-042021-03-022021-03-262021-04-222021-05-212021-07-132021-09-012021-11-012021-11-252021-12-212022-01-172022-03-152022-05-112022-06-072022-07-012022-07-272022-09-162022-11-142022-12-082023-01-042021-01-282021-06-172021-08-062021-09-292022-02-172022-04-122022-08-222022-10-19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7000000140004500000160006000000120004000000140003500000500000010000120003000000100004000000800025000002000000800030000006000600020000001500000400010000004000100000020005000002000000000002021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-292021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-29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62000500018004500551600140040005120035001000300045800250060044002000200150035010002021-01-042021-01-282021-03-022021-03-262021-04-222021-06-172021-08-062021-09-292021-11-252022-01-172022-03-152022-05-112022-07-012022-08-222022-10-192022-12-082021-05-212021-07-132021-09-012021-11-012021-12-212022-02-172022-04-122022-06-072022-07-272022-09-162022-11-142023-01-042021-01-042021-01-292021-03-312021-04-282021-05-282021-06-252021-08-182021-09-142021-10-202021-11-162022-01-102022-02-112022-03-102022-05-102022-06-072022-07-042022-07-292022-09-222022-10-262022-11-222021-03-042021-07-222021-12-132022-04-082022-08-252022-12-192023-01-16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50000001400030000001600014000400000012000250000010000120002000000100003000000800015000008000200000060001000000600040001000000400020005000002000000000002021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-292021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-29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600040045003504000550030035002505000300020045001502500200040001005015003500010002021-01-042021-01-282021-03-022021-03-262021-04-222021-06-172021-08-062021-09-292021-11-252022-01-172022-03-152022-05-112022-07-012022-08-222022-10-192022-12-082021-05-212021-07-132021-09-012021-11-012021-12-212022-02-172022-04-122022-06-072022-07-272022-09-162022-11-142023-01-042021-01-042021-02-012021-03-082021-06-042021-07-052021-08-022021-08-302021-11-032021-12-012021-12-292022-01-272022-03-032022-05-052022-06-022022-07-012022-07-292022-10-312022-11-282022-12-262021-04-062021-05-072021-09-292022-03-312022-08-262022-09-26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8000002000060000016000700000500000140006000001500012000500000400000100004000001000030000080003000002000006000200000500040001000001000002000000000002021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-292021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-29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6000003503500300550000300025050000020025004500001502000100400000150005035000000010002021-01-042021-01-282021-03-022021-03-262021-04-222021-05-212021-06-172021-07-132021-08-062021-09-012021-09-292021-11-012021-11-252021-12-212022-01-172022-02-172022-03-152022-04-122022-05-112022-06-072022-07-012022-07-272022-08-222022-09-162022-10-192022-11-142022-12-082023-01-042021-03-082021-04-062021-05-072021-06-042021-07-052021-08-302021-09-292021-11-032021-12-012021-12-292022-03-312022-05-052022-06-022022-07-012022-07-292022-10-312022-11-282022-12-262021-01-042021-02-012021-08-022022-01-272022-03-032022-08-262022-09-26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400000140003000001400035000012000250000120003000001000020000010000250000800080002000001500006000600015000010000010000040004000500002000500002000000000002021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-292021-01-042021-02-022021-03-102021-04-092021-05-132021-06-112021-07-132021-08-112021-09-092021-10-192021-11-172021-12-162022-01-172022-02-222022-03-232022-04-252022-05-272022-06-282022-07-272022-08-252022-09-262022-11-012022-11-302022-12-29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7500002503500700000200300065000015025006000001002000550000050150050000000010002022-07-222022-07-292022-08-122022-08-192022-09-022022-09-092022-09-192022-10-102022-10-172022-10-242022-10-312022-11-072022-11-142022-11-282022-12-052022-12-122022-12-262023-01-032023-01-172022-08-052022-08-262022-09-262022-11-212022-12-192023-01-102022-08-122022-08-192022-08-262022-09-022022-09-092022-09-192022-09-262022-10-102022-10-172022-10-242022-10-312022-12-052022-12-122022-12-192022-12-262023-01-032023-01-102023-01-172022-07-222022-07-292022-08-052022-11-072022-11-142022-11-212022-11-28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180000160009000014000160000140008000012000140000700001200010000120000100006000010000080008000500008000040000600060000600030000400004000200004000200002000100002000000000002022-07-222022-08-012022-08-092022-08-172022-08-252022-09-022022-09-132022-09-212022-09-292022-10-142022-10-242022-11-012022-11-092022-11-172022-11-252022-12-052022-12-132022-12-212022-12-292023-01-092023-01-172022-07-222022-08-012022-08-092022-08-172022-08-252022-09-022022-09-132022-09-212022-09-292022-10-142022-10-242022-11-012022-11-092022-11-172022-11-252022-12-052022-12-132022-12-212022-12-292023-01-092023-01-17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7006400280060062002600500240060002200400580020003001800200560016005400140010012000520010002022-09-192022-09-222022-09-272022-09-302022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-072022-11-102022-11-152022-11-182022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052023-01-102023-01-132023-01-182022-09-192022-09-292022-10-122022-10-182022-10-282022-11-032022-11-152022-11-212022-12-012022-12-072022-12-132022-12-232022-12-292023-01-112023-01-172022-09-232022-10-242022-11-092022-11-252022-12-192023-01-05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80000014000140000020000700000120000012000150006000001000010000005000008000008000100004000006000003000006000400000500020000040002000001000002000000000002022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-172022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-17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250660028002600200640024006200220015020006000100180058001600140050560012000540010002022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-172022-09-192022-09-222022-09-272022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-102022-11-182022-11-232022-11-282022-12-012022-12-092022-12-192022-12-222022-12-272022-12-302023-01-102023-01-182022-09-302022-11-072022-11-152022-12-062022-12-142023-01-052023-01-13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300000200002500002000025000020000015000150002000001500001500001000010000100000100000500050005000050000000000002022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-172022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-17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120026003900250010003400800240023002900600220024004002100200200019000190014002022-09-192022-09-222022-09-272022-09-302022-10-122022-10-172022-10-202022-10-252022-10-282022-11-022022-11-072022-11-102022-11-152022-11-182022-11-232022-11-282022-12-012022-12-062022-12-092022-12-142022-12-192022-12-222022-12-272022-12-302023-01-052023-01-102023-01-132023-01-182022-09-192022-09-292022-10-122022-10-182022-10-282022-11-032022-11-152022-11-212022-12-012022-12-072022-12-132022-12-232022-12-292023-01-112023-01-172022-09-232022-10-242022-11-092022-11-252022-12-192023-01-05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1800000140008000002000016000001200070000014000001000060000015000120000050000010000008000400000100008000006000600000300000400000400020000050002000002000100000000000002022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-172022-09-192022-09-232022-09-292022-10-122022-10-182022-10-242022-10-282022-11-032022-11-092022-11-152022-11-212022-11-252022-12-012022-12-072022-12-132022-12-192022-12-232022-12-292023-01-052023-01-112023-01-17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