Under the situation that the Shanghai Stock Index has risen on a large scale recently, call warrants have become the target of capital pursuit instead of put warrants.
Yesterday, Maanshan Steel's warrant (580010) opened with a trading limit and closed with a trading limit. The warrant (580013) of WISCO rose 14.57%, and the GFC1 (031002) of Steel Vanadium also rose 8.43%. However, some put warrants that had increased too much in the previous period showed different degrees of decline, of which CMB's put (580997) fell 10.43%, and Potash's put (038008) fell 14.29%.
Market analysts believe that as the Shanghai and Shenzhen stock markets will continue to fluctuate and climb in the future, which will lay the foundation for the continued rise of call warrants, call warrants will replace put warrants as the target of capital pursuit. It is reported that the recent turnover of warrants in the two markets exceeded the 100 billion yuan mark for the first time because hot money shifted to warrants to avoid supervision. This personage analyzed and predicted that put warrants may become the next target of hot money speculation. The expert reminded that the capital driven market divorced from the intrinsic value may be staged in the warrant. The shareholders need to be aware that the warrant also has risks and should not blindly follow the trend of speculation. If its premium rate exceeds its intrinsic value, the exercise at maturity will also lead to risks.
At present, SSE has launched an investigation into the business departments that have recently been extremely active in transactions, and has issued a supervision warning letter to the accounts that have been active in transactions. If the monitored accounts continue to hype, they will restrict their warrant transactions.
Yang Xueting
