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小鹏汽车-W(09868.HK)期权市场Put/Call成交量比攀升至1.85的高位，显示对冲需求强烈。从业务基本面解读，我认为这反映了市场对其在激烈价格战中盈利能力与市场份额平衡的担忧。$小鹏汽车-W(09868)$

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