Trainee reporter Shi Xiaofang
According to the time-sharing transaction details, there were about 60 daily transactions of CIMC put rights, 38 of which were at the closing price of more than 3.98 yuan, which means that if investors bought but did not sell after the first suspension, most of the accounts are now losing money.
Although the market showed some fatigue before the festival, the warrants turned the tide again. On the 25th, the trading was suspended for three times CIMC ZYP1 (038006. SZ) The turnover rate reached 112.11% in only 38 minutes of trading time throughout the day, and it still rose by 54.15% in the late afternoon. SZSE immediately issued strict regulatory measures, and adopted the most stringent regulatory measures since the warrant trading. For CIMC ZYP1 (038006. SZ) Valin JTP1 The three put warrants (038003. SZ) and Wuliang YGP (038004. SZ) are subject to transaction monitoring, and the accounts suspected of violating the rules are subject to transaction restrictions and reported to the CSRC for investigation and punishment. On the 26th, CIMC put rights were suspended by the Shenzhen Stock Exchange for three more times, and the transaction lasted about 8 minutes throughout the day. The third time started from 11:06:43, and resumed trading at 14:57. After resumption, it directly entered the closing call auction. It can be seen from the time-sharing trend that in the first half of the trading day, the price was significantly increased by 24% in a few minutes, and the last three minutes before the closing was still a critical moment of fierce fighting. In just three minutes, the put option fell from 4.59 yuan to 3.98 yuan, a drop of nearly 14%, thus making the daily K-line report close to a small positive line with a long shadow. The time-sharing transaction details show that there are about 60 daily transactions, 38 of which are at the closing price of 3.98 yuan or more, which means that if you buy but not sell after the first suspension, most of the accounts are now losing money.
This situation of two aggregate auctions in one trading day is the first. The intention of the exchange is clearly to combat speculation. Shenyin Wanguo negotiable securities Experts also told reporters that collective bidding can effectively curb speculation, and the final price is set at the point where transactions are most frequent. Because everyone bids without knowing the quotation of others, the collective bidding process is also a game. But for warrants, this game is still a gamble. A retail investor told reporters that he bought 50000 shares at the opening price of 3.70 yuan on the 26th, and sold 30000 shares at a high price of 4.58 yuan at the beginning of the last three minutes of collective bidding. The remaining 20000 shares would be held overnight. The investor predicted that on the 27th, CIMC put option would open sharply and the remaining 20000 would lose money. However, some "bloodthirsty" people told reporters that they had all their short positions on the 26th and decided to go all out into CIMC on the 27th.
Aiming at the unstoppable "enthusiasm" of the market, attacking suspicious accounts has become the primary measure of Shenzhen Stock Exchange, and illegal accounts will become the focus of monitoring. From the perspective of the major investors of CIMC put option trading on September 25 announced on the website of Shenzhen Stock Exchange, among the top five with the largest amount of buying and selling, Tiantong Securities Shanghai Xianxia Road Securities Business Department, China Jianyin Investment Securities Co., Ltd. Guangzhou Shuiyin Road Securities Business Department, and Minfa Securities Fuzhou Wuyi Middle Road Securities Business Department are both the top five buyers and top five sellers, And the amount of buying and selling is similar. Although accounts with large transaction volume may not be illegal accounts, they are likely to be included in the list of key concerns.
However, it should be noted that the SSE had taken similar measures in August, when the relevant responsible person of the SSE said that individual accounts suspected of manipulating warrant prices had been submitted to China in accordance with relevant procedures CSRC File a case for investigation. On August 15 alone, SSE issued oral and written warnings to nearly 20 over hyped accounts in five business departments. However, it seems that this warning is still not enough to deter market speculation. After the case is filed, how to investigate and deal with can actually deter the next step of regulation. From the point of view of the retail investors interviewed by reporters, retail investors hardly consider the value of warrants. They mainly rely on observing and guessing the movements of the main force or the dealer to decide their own actions, Therefore, severe punishment on malicious speculators can set an example to others, and the destruction of these funds will have a realistic educational effect on investors.
