|
Investor: Excuse me, what factors will affect the price of the steamer?
Li Jin: Generally speaking, there are five main factors that affect the price of the warrants, namely, the positive share price, the remaining term, the extension range, the interest rate and the dividend.
The rise and fall of the stock price is one of the important factors that affect the price of the warrants, but it is not the only one that affects the price of the warrants
One factor. For subscription warrants, the higher the price of the underlying shares, the greater the opportunity to be exercised, and the higher the price of the warrants; For put warrants, the lower the price of the underlying stock, the greater the chance of being exercised, and the higher the price of the warrants.
The remaining period refers to the time limit remaining before the ship is exercised. Theoretically, the longer the expiration time of the warrants, the greater the possibility of price fluctuation of the equity, the higher the opportunity to be exercised, and the higher the investment value of the warrants. Whether the warrant is a subscription warrant or a put warrant, the price of the warrant is proportional to the remaining term. For example, the time consumption of a six month old wormwheel is less than that of a similar wormwheel with only one month left.
The extended amplitude is the market's expectation of the fluctuation of the positive shares in the future. The issuance price of the warrants is calculated by the issuer based on the extended amplitude. Assuming that other factors remain unchanged, the change of extension amplitude is in the same direction as the change of the price of the wheel. That is, if the extension amplitude rises, it indicates that the expected future stock price volatility is also greater. The greater the opportunity for the exercise of the warrants, the higher the price of the warrants. On the contrary, the lower the extension amplitude, the lower the price of the wormwood.
(This article is written by France Xingye negotiable securities Provided by Li Jin, Senior Vice President of (Hong Kong) Co., Ltd
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
|
