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The game turned into a white hot, 143 million put warrants were short-lived


http://finance.sina.com.cn 08:56, December 1, 2005 Sichuan Financial Investment News

News from our correspondent: Three days after the creation of the put warrants of WISCO, the securities companies started the cancellation for the first time. It is reported that GF Securities and Guotai Jun'an have been approved to cancel 143 million WISCO put warrants today, which is equivalent to 11.7% of the total WISCO put warrants created by previous securities companies.

At the same time, the enthusiasm of securities companies for the creation of WISCO warrants continued to rise. Today, another 70.01 million WISCO warrants created by five securities companies, namely GF Securities, Everbright Securities, Orient Securities, China Merchants Securities and Guotai Jun'an, entered the market.

It is worth noting that the trading volume of WISCO put warrants exceeded 3 billion yesterday, with a shock of 22.8%. The game around WISCO put warrants entered a white hot stage. The insiders believe that the sharp fluctuations in WISCO put warrants are related to the subtle changes in the attitude of securities traders towards the creation of WISCO put warrants.

The people concerned said that with the sharp drop of WISCO put warrants, the incentive for securities companies to continue to create was greatly reduced. east

negotiable securities The relevant person in charge said in an interview that it is very convenient to create put warrants, and it is also very quick to decide to create when the price of warrants goes up. The risk of the creation of WISCO put warrants begins to increase when the WISCO put warrants fall to around 1 yuan. Therefore, the WISCO put warrants will not be created for the time being, but will wait and see first. This view has been recognized by many other innovative securities companies.

At the same time that the power of creation has been greatly reduced, some securities companies have begun to write off some of the established quotas. It is reported that today, GF Securities Company was approved to cancel 100 million WISCO put warrants, and Guotai Jun'an was approved to cancel 43 million WISCO put warrants.

According to a securities firm that cancelled the put warrants of WISCO, the company's stock was cancelled this time, and its loss is the interest cost of frozen funds in these days. Early cancellation is one of the ways of two-way use of creation means. The price of WISCO put warrants has seen two limit declines, and the bubble has basically squeezed out. The derivative amplitude is between 90% and 100%, which is relatively reasonable in China.

Different from the previous plunge in WISCO put warrants, the decline of WISCO call warrants after their creation was relatively modest. Some experts pointed out that the main reason was that the scale of the warrant created by WISCO was small enough to have a great impact on the price of the warrant. Today, five more brokers created WISCO call warrants, which shows that at present, brokers are still very interested in creating this type of warrants. Panorama


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