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Warrant market ushers in the climax of shrinking capacity

http://www.sina.com.cn 15:51, March 15, 2007 Hexun - Red Weekly

Stock Market Red Weekly

Author: Hou Chun

This week, the warrant market saw one entry and one exit.

On Thursday, a new subscription product, Yunhua CWB1, which is derived from the separate trading convertible bonds, was listed, with a duration of up to 24 months Yuntianhua Since February, it has risen sharply, opening up room for its warrants to rise. However, there are only two limits for cloud subscription listing, which has made its price far higher than the value range.

And the other one has never been traded Daye Special Steel The one month exercise period of the put certificate also ended on Thursday. There were 30 holders who exercised at the exercise price of 3.8 yuan. They handed a total of 38060 put rights together with Daye Special Steel shares at 38060 stock market price of 9 yuan to the company, adding 197912 yuan to the account of Daye Special Steel. Their selfless dedication is truly admirable. Only three warrants fell this week, and Baotou Steel butterfly type double certificates occupied the top two. Since there are only 10 trading days left from its last trading day (March 23), the time value has already returned to zero, its subscription certificates will fluctuate closely with the regular shares, and its put certificates will continue to become waste paper.

The call warrant index rose 8.49% in the week, while the put warrant index rose only 1.87%. The weekly turnover of 25 warrants totaled 118.3 billion, 20% of the A-share market. Among them, Maanshan Iron and Steel, Baotou Iron and Steel, Handan Iron and Steel and Sinochem all won the first place in A-share trading China Unicom 9.8 billion yuan. Wuhan Iron & Steel And Rizhao Port It is applying to issue convertible bonds with separate transactions and is expected to be listed in the near future. However, from March to May, there will be three warrants, three warrants and six warrants expiring in succession, and the warrant market will shrink. At that time, if the new products are not enough to fill the vacancy, the warrant market will reappear the scene of crazy speculation.


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