收益率飙升，股票波动率却依然低廉——期权简报

关键论点

• 债市波动率大幅重定价，而股指波动率仍贴近低位，MOVE与VIX之间的缺口尚未解决。
• 利率与信用组的隐含波动率中位排名翻倍以上至48.8，指数组仍以17.1居榜末。
• 个股资金流显示大型科技股买入下行保护、部分由卖出上行融资，针对10月底财报窗口，属保护而非看空。
• 利率敏感板块领跌股市：XBI跌4.12%，GDX跌4.36%，公用事业跌1.92%，房地产跌1.55%。

对应原文证据

1. The flash composite purchasing managers’ index rose to 58.4 in September, with services at 58.7 and manufacturing jumping to 57.0 from 53.9, the strongest manufacturing reading since May 2022. · May 2022
2. • Asia (Thursday session, in progress): Japan’s Nikkei 225 is 1.01% higher at 65,674.51 after the Silver Week break, the Hang Seng 0.52% lower and the CSI 300 1.29% lower.
3. Expected move to the 25 September expiry, drawn around the Friday 18 September close with the nearest listed strike at each bound, and Wednesday’s close marked.