Zhang Biao's Daily Economic News
On the first trading day after the National Day holiday Baiyun Airport ( information quotation forum ) The announcement of the exercise prompt of put warrants, which was often criticized for excessive speculation in the past, seems to be much more rational. In particular, several out of price deep warrants that are about to expire in exercise "race diving" according to the distance of the exercise period: the Shenzhen Energy put warrants that exercise from 20 to 26 this month fell by 24.92%, ranking the first in decline; The subscription certificate and put certificate of WISCO that exercised from November 16 to 22 fell 19.69% and 14.86% respectively. However, some of the subscription certificates fell when the positive shares rose, reflecting the strength of the empty side.
For example, Capital Securities fell by 0.252%, while positive shares rose by 1.277%; Hangang's subscription certificate fell 1.664%, while the stock market rose 1.695%; Guodian Power ( information quotation forum ) The subscription certificate fell 2.63%, while the positive shares rose 2.924%; Baotou Steel's subscription certificate fell 4.994%, while the stock market rose 1.376%.
Since the middle of September, the daily transaction amount and turnover rate of the warrant market have been declining, and the light trading, falling more than rising, less than making a lot of funds to buy A-shares. The "T+0" trading system of warrants has increased the speed of capital flowing back to A-shares in the intraday.
Judging from the closing situation yesterday, although the Shanghai and Shenzhen markets rose sharply, there were 20 down warrants and only 6 up warrants among the 26 warrants in the two markets dominated by put warrants, and the rise rate did not exceed 6%, indicating that the bulls were not confident enough. Looking forward to the future, Shanghai Stock Exchange Index ( information quotation forum ) It is about to hit the 1800 point mark, and will face heavy pressure from a large number of profit taking orders and unwinding orders near the historical intensive trading area.
Therefore, after further adjustment of warrants, the former sudden profit effect will still attract the backflow of bargain hunters. Investors can focus on warrants with high time value that are close to or even below the historical lowest price, such as Haier's put, Wanhua's put, etc.
