Last week, the put and subscription varieties in the warrant market experienced a sharp rise and fall with the sharp shock of the Shanghai and Shenzhen stock markets. The total turnover was 516.16 billion, breaking the 500 billion mark for the first time. More than 70% of the turnover was concentrated in five put warrants, CMB CMP1 The weekly turnover of 156.710 billion is far ahead of other warrants.
Shenzhen Development A's two warrants, Shenzhen Development SFC1 (031003) 2.086 shares and Shenzhen Development SFC2 (031004), fell 8.69% against the trend of positive shares, as expected by the market, closing the trading limit. Shenfa SFC1 closed at 15.240 yuan, up 32.85%; Shenfa SFC2 closed at 16.587 yuan, up 29.39%. Shenzhen Development A received 27.52 yuan, and the intrinsic value of these two warrants is only more than 8 yuan based on the exercise price of 19 yuan. It can be seen that the current price is significantly overvalued, which is actually caused by the market "speculation" and speculation of very small varieties of circulation.
Based on the closing price on June 29, the average premium rate of the subscription certificate is 19.09%, Wuliang YGC1 The discount degree of HQC1 in Heqiao Town exceeded 11%, and the premium rate of Yunhua CWB1 and WISCO CWB1 exceeded 50%. Investors can pay close attention to the discounted Wuliang YGC1 and Qiaocheng HQC1 in the short term, so as to attract at a low price.
Last Friday, the "high and cold" put plate no longer did the seesaw when the market plummeted, and the five put warrants fell by more than 12%. CMB CMP1 fell 18.71% to 1.442 yuan, ranking first. After the listing of China Southern Airlines JTP1, there will be no more put certificates issued as compensation for share reform. At present, there are only five put certificates left, and two will expire in the second half of the year. Therefore, the types of put certificates will be extremely scarce for a long time.
In the first half of this year, a total of 3605.16 billion yuan was transacted in the warrant market, accounting for 15.43% of the total transaction amount of the two cities in the same period. Among them, the turnover of subscription certificates was 1969.9 billion yuan, and the turnover of put certificates was 1635.26 billion yuan. The average increase of the seven warrants is 169.59%, while the average increase of their positive shares is only 82.45%, which shows that the leverage effect and earning effect of warrants are significant. Zhang Biao's Daily Economic News
