Zhang Biao
Yesterday, after a continuous sharp decline of warrants, the market rebounded, with only six trading days remaining, the Shenzhen Energy put stock market once rose more than 7%, and the "doomsday round" was almost absent from the top 10 warrants. At the same time, driven by the overall strength of the steel sector, WISCO subscribed, Handan Iron and Steel subscribed, WISCO put and Baotou Iron and Steel subscribed warrants ( information quotation forum ) The top four increases were 8.92%, 3.1%, 2.23% and 1.43% respectively.
Recently, the Shenzhen Energy Put Warrant fell 61.25% in 10 trading days, and the market value of 157 million yuan was wiped out, which made the holders sad. Yesterday, deep energy ( information quotation forum ) A suggestive announcement was issued, saying that the current theoretical value of its warrants was 0.069 yuan, 0.138 yuan higher than its closing price of 0.207 yuan yesterday.
The exercise price of Shenzhen Energy was 6.692 yuan/share, and the closing price yesterday was 6.95 yuan. Therefore, unless Shenzhen Energy rose more than 4% in the following trading days, it is likely that the Shenzhen Energy Put Warrant will become the third warrant with a value of zero at maturity.
At present, the valuation of domestic steel stocks is lower than the international level, and the average P/E ratio of major European and American steel companies is 10~15 times higher than the domestic average 5~8 times, which leads to the difference between QFII and domestic funds and other institutions in their bearish attitude towards the steel sector in the fourth quarter, resulting in a large increase in steel stocks, so there is little room for the decline of domestic steel stocks. Therefore, those with certain time value The steel warrant with a low premium rate has certain speculative value, such as Baotou Steel's subscription, Handan Steel's subscription certificate, etc. It is recommended that investors look for opportunities to intervene.
