News summary
May 24gameandcrypto, the three major indexes fell collectively, with the Shanghai Composite Index falling below 3100 points, and the GEM Index falling 1.5%.gameandcrypto.81%, with a transaction volume of 769.2 billion yuan. Concept stocks such as electricity, virtual power plants, and high-speed copper connections bucked the trend, while sectors such as real estate, low-altitude economy, and semiconductors rebounded sharply. This week, the three major indexes fell more than 2%. 50ETF, Shanghai Stock Exchange 300ETF, and Shenzhen Stock Exchange 300ETF options PCR is at recent highs, but historical volatility is low. The implied volatility and VIX of constant value options are at low levels.
Newsletter text
[The Shanghai and Shenzhen stock indexes fell on Friday, the real estate and semiconductor sectors adjusted] On Friday, the three major A-share indices all showed a downward trend, with the Shanghai Composite Index falling below 3100 points. Although the market turnover reached 7,692gameandcrypto.40 million yuan, but the real estate, military, and semiconductor sectors suffered deep corrections respectively, dragging down the overall performance of the stock index.
During Friday's performance, power stocks and virtual power plant concept stocks were sought after by the market, with nearly 10 stocks including Dalian Thermal Power and Leshan Electric Power trading daily limit. High-speed copper connection concept stocks have also been realizedgameandcryptoIn order to rise against the trend, Derun Electronics reached a daily limit and Huafeng Technology hit a daily limit of 20 centimeters. At the same time, agricultural stocks have shown repeated activity, with Zhenghong Technology connecting 5 boards.
On the other hand, real estate stocks such as I Love My Home and Chongqing Development fell to the limit, and low-altitude economic concept stocks such as CITIC Haizhi hit the limit. The memory and GPU sectors of the semiconductor industry have seen a significant correction, reflecting the market's cautious attitude towards these sectors.
[Options Market Performance] In terms of the options market, the trading volume of 50ETF options reached 1.1 million, the trading volume of 300ETF options in Shanghai Stock Exchange was 940,000, and the trading volume of 300ETF options in Shenzhen Stock Exchange was 120,000, indicating market activity.
The PCR indicator shows market sentiment. The PCR of 50ETF options is 0.98, the PCR of 300ETF options in Shanghai is 1.02, and the PCR of 300ETF options in Shenzhen is 1.16, which are all at higher positions in the near future, reflecting investors 'increased bear market expectations.
The historical volatility of the subject matter of the option is lower than the recent average. The historical volatility of 50ETF options is 11.38%, the Shanghai Stock Exchange 300ETF options is 12.26%, and the Shenzhen Stock Exchange 300ETF options is 12.83%, which may imply that the current market volatility is low.
The implied volatility of fixed value options reaches 13.54% for 50ETF options, 14.25% for Shanghai 300ETF options, and 14.76% for Shenzhen 300ETF options, respectively, which may indicate an increase in market expectations for future volatility.
The implied volatility smile indicator shows that the lowest point of 50ETF options is at 100% price, and the lowest points of Shanghai 300ETF options and Shenzhen 300ETF options are also at 102%, which may reflect the market's uncertainty about future prices.
The VIX index reported at 12.77 points, which is at a recent low level, indicating that market panic has eased.