【五矿期货】能源化工期权策略早报-251114（45页）.pdf

1、卢品先投研经理黄柯涵期权研究员李仁君产业服务表1：标的期货市场概况原油SC2601455-3-0.61 7.433.903.430.40液化气PG26014,276751.793.611.764.630.18甲醇MA26012,099-8-0.38 103.870.60138.28-2.45 乙二醇EG26013,937571.4723.514.2435.81-0.84 聚丙烯PP26016,502540.8433.0511.0162.84-0.82 聚氯乙烯V26014,600250.5566.0616.12139.24-0.55 塑料L26016,874831.2227.849.2458.

2、16-0.53 苯乙烯EB26016,488.0081.001.2620.418.9217.19-0.14 橡胶RU260115,330450.2920.884.3613.30-0.39 合成橡胶BR251210,510650.621.76-0.90 1.37-0.10 对二甲苯PX26016,846921.3627.6311.4721.67-0.39 精对苯二甲酸TA26014,714701.5179.0931.28104.33-0.55 短纤PF26016,242500.815.02-0.37 6.06-0.07 瓶片PR26015,758.0080.001.4111.197.193.97

3、-0.04 烧碱SH26012,359281.2028.83-7.54 13.15-0.52 纯碱SA26011,23230.24129.3960.44132.671.05尿素UR26011,65860.3614.51-8.63 25.05-0.56 数据来源：WIND、五矿期货期权服务部从业资格号：F03090207 交易咨询号：Z0016947邮箱：能源化工期权策略早报能源化工期权策略早报邮箱：能源化工期权2025-11-14从业资格号：F3047321 交易咨询号：Z0015541从业资格号：F03138607电话：0755-23375252邮箱：能源化工期权策略早报概要：能源类：原油、

4、LPG；聚烯烃类期权：聚丙烯、聚氯乙烯、塑料、苯乙烯；聚酯类期权：对二甲苯、PTA、短纤、瓶片；碱化工类：烧碱、纯碱；其他能源化工类：橡胶等。策略上：构建卖方为主的期权组合策略以及现货套保或备兑策略增强收益。期权品种期权品种标的合约标的合约最新价最新价持仓量持仓量(万手)(万手)仓变化仓变化涨跌涨跌涨跌幅涨跌幅（%）（%）成交量成交量(万手)(万手)量变化量变化表2：期权因子量仓PCR原油47,581-103,332 24,0088,1680.930.070.830.06液化气208,836124,97079,36212,8151.040.450.890.01甲醇244,754-211,584

5、 403,95620,4170.790.090.420.00乙二醇86,26827,87587,7566,3820.71-0.14 0.570.02聚丙烯89,64630,157143,48110,9620.76-0.35 0.70-0.03 聚氯乙烯166,52345,265405,52425,8530.47-0.05 0.280.01塑料51,56417,090100,3045,9060.74-0.10 0.47-0.02 苯乙烯638,046416,394208,95718,7120.60-0.12 0.740.18橡胶19,1096,80052,262380.380.040.45-0.

6、00 合成橡胶30,873-12,735 39,8164580.520.170.610.01对二甲苯73,72134,14448,6324,5791.140.441.170.06精对苯二甲酸245,120-304,604 219,54915,8030.910.250.750.07短纤40,620-45,906 21,3561,6130.65-0.03 0.89-0.06 瓶片3,630-1,070 6,5665720.890.000.990.00烧碱71,010-144,864 69,7277,4270.60-0.07 0.59-0.03 纯碱405,835-80,419 734,48033,