Affected by the overall market, all the positive shares of warrants fell last week. The warrants with the largest decline were SAIC CWB1 , Steel Vanadium GFC1 and Maanshan Iron and Steel CWB1, with declines of - 10.55%, - 10.53% and - 9.27% respectively. Put warrants also continued to fall, while China Southern Airlines JTP1 Wuliang YGP1 、 Valin JTP1 They fell by - 13.32%, - 18.67% and - 37.28% respectively. The current put warrants have no real value, and it is difficult to rise even when the market falls. Investors are advised to avoid it.
Trading amount of put warrants increased by 10%
Last week, a total of 33.395 billion yuan of call warrants and 25.410 billion yuan of put warrants were traded. Last week, the turnover of call warrants and put warrants was 44.685 billion yuan and 23.052 billion yuan respectively. Last week, the transaction amount of call warrants decreased by 25.27% compared with the previous week, while the transaction amount of put warrants increased by 10.23%. The increase in the transaction amount of put warrants was mainly affected by Valin JTP1.
The warrant with the lowest premium rate last week is Wuliang YGC1 , Steel Vanadium GFC1 and WISCO CWB1, respectively, were -13.34%, -11.67% and -10.02%, of which the premium rate of Wuliang YGC1 was reduced; The warrants with the highest premium rate last week are Shenzhen High CWB1, SAIC CWB1 and Guoan GAC1, Rizhao CWB1 The premium rates were 67.01%, 48.58%, 46.05% and 31.07% respectively
The biggest feature of the power market last week was that some deeply discounted warrants showed obvious resilience in the process of falling stocks. Among them, Wuhan Iron & Steel - 6.95% down, while WISCO CWB1 fell only - 1.76%; Masteel It fell by - 11.37%, while Maanshan Steel CWB1 only fell by - 9.27%
Zhang Lining, senior warrant analyst of Bohai Securities, said: "This shows that in the process of falling stocks, deep discount warrants may reflect the resilience beyond stocks. When the premium rate is extremely low, the rebound of the premium rate is the driving force of this resilience. In this case, although warrants cannot avoid the risk of decline, they can achieve a smaller decline than stocks."
Attention can be paid to steel warrant in the future
Last week, the steel plate fell sharply, and Wuhan Iron and Steel Group Co., Ltd. and Maanshan Iron and Steel Group Co., Ltd. fell significantly, which also caused their warrants to fall significantly. From a technical perspective, Wuhan Iron and Steel Group and Maanshan Iron and Steel Group both fell near the important moving average and temporarily gained support. The stability of the market in the following week will form an effective rebound. The rebound momentum of Wuhan Iron and Steel Group Co., Ltd., which had strong performance in the early stage, may be stronger. Investors can focus on the short-term rebound opportunities of steel warrants.
"The A-week decline of Shenzhen Development Bank was -7.21%, and the weekly decline of Shenzhen Development Bank SFC2 was -9.12%. When the shock wave of the subprime mortgage crisis gradually dissipates, with the gradual disclosure of domestic bank performance, the banking sector is still expected to continue to strengthen, and investors can pay attention to the subsequent performance of Shenzhen Development Bank SFC2." Zhang Lining of Bohai Securities also suggested that last week FAW car It has been launched, with obvious short-term strong characteristics and driving FAW Xiali 、 FAW Sihuan Stronger. If the market stabilizes this week, the rise of FAW's three shares is expected to drive the auto sector to be active, so we can pay close attention to SAIC CWB1
At present, the latest premium rate of Wuliang YGC1 is -13.34%, which is still at a deep discount. The warrant will expire at the end of March this year. In this process, the premium rate of the warrant will quickly return to zero, and the warrant will have a better performance opportunity than the regular stock. "Look Wuliangye Investors in regular shares can exchange for Wuliang YGC1 to actively obtain this part of discount income. " Bohai Securities Zhang Lining said.
Our reporter Li Qiantao
