" financial mathematics 、 financial project and financial management " con - stitute a significant research project specified by the national foundation of natural science of china ， in which option pricing theory is a problem of leading edge as well as a hot one . this thesis gives a new evaluation method on the important factor ? volatility , which has an important influence on the pricing of option , based on the research of option characters “金融数学、金融工程和金融管理”是国家自然科学基金确定的重大研究项目，而期权定价理论则是目前金融工程、金融数学所研究的前沿和热点问题。本文在研究期权特性的基础上，对影响期权定价的重要因素波动率给出了一种新的估计方法。
Based on the mixture distribution hypothesis ( mdh ) theory , the paper conducted an empirical study into the daily liquidity and volatility of three futures , i . e . , bronze , aluminum and natural rubber , and discovered that the trade volume and volatility display a significantly positive correlation , there is a significantly negative correlation between the open interest and volatility , and liquidity ratio and volatility have no significant correlation 摘要根据混合分布假设理论( mdh )等前人研究成果，及对中国期货市场三个主要期货交易品种铜、铝和天然胶期货的日流动性和日波动性的实证研究，可以发现：交易量与波动率有显著的正相关关系，持仓量与波动率有显著的负相关关系；而流动性比率与波动性却并没有显著的关系。
