It is 14.16%. According to relevant information, in 2021, the average daily trading volume of sugar options was 44,800 lots, an increase of 4.25 times compared with the first year of listing. The average daily holdings are 148,600 lots, an increase of 1.63 times compared with the first year of listing. Judging from the volatility of the sugar options market, the average implied volatility of the main at-the-money option contracts since its listing is 14.16%, which is basically the same as the 30-day historical volatility average.