Zhang Biao's Daily Economic News

The author said in his article last Thursday and Friday that the short-term top was forming continuously, reminding investors to pay attention to risks. It was true last Friday that Shanghai and Shenzhen stock markets fell more than 102 points and broke the 10 day moving average. However, the put warrant recommended by the author did not rise as expected. It just fluctuated in a narrow range in the horizontal direction when there was a slight rise in the market, until the tail market plunged sharply, reflecting that on the one hand, when the real adjustment came, the main funds of the warrant would not go against the market as hard support, and even run faster than retail investors; On the other hand, several put warrants are due to be exercised in February and March, and it is expected that the midline will fall sharply, resulting in a slump effect opposite to the sudden profit effect. Therefore, the main force of the put warrants dare not go long alone without the help of retail investors.

From the disk, except Yili Wuliangye In addition to the call warrants rising along with the regular shares, all the other 24 warrants fell, and among the 12 warrants with a decline of more than 10%, except for the first one, the others were put warrants. The first drop was the quasi doomsday round raw water put warrant, which the author repeatedly suggested to avoid, down 17.19%.

It is worth noting that the subscription certificate of Maanshan Iron and Steel Co., Ltd Masteel When the market rose 1.83% against the market, it still fell 2.39%, making its premium rate drop sharply to -5.61%, showing the midline investment value. Other warrants with negative premium rate (Yili CWB1 Wanhua HXB1 、 Wuliang YGC1 , OCT HQC1) The absolute prices are all above 10 yuan, and the leverage effect is not obvious, which is not conducive to the speculation of the main funds. Therefore, Maanshan Steel CWB1 may become the leading variety in the future rebound of the power market due to the low absolute price and negative premium rate, and the rights people can pay close attention to it.

In addition, the sharp drop in selling securities is actually giving short positions opportunities. It is suggested to pay attention to the Wuliangye put warrant with the longest time value (expiring in April 2008) and the Moutai put warrant close to the historical low. Its positive shares are playing the last crazy game and can be involved in bargain hunting after further decline.