According to official statistics, in June, more than half of investors lost money in warrant speculation, including Potash fertilizer JTP1 The number of losses reached 66%. At first glance, these figures are very scary, but when you think about it carefully, it is also said that this June, almost all investors in the stock market were covered, while 30% to 50% of investors in speculative warrants still made profits. In this way, the speculation of warrants is not significantly worse than the speculation of stock tickets, so why not let the speculation of put warrants?
In fact, the management intervened in the speculation of warrants with good intentions. Most of the put warrants did not end well, so the holders of warrants could be buried with them. No matter how happy the speculation was, they could not escape the final judgment when it expired. Therefore, the market of the put warrants could only be a short-lived performance.
In my opinion, since the warrants will be liquidated sooner or later, should they be issued? As long as it is issued, it has its existence significance. Repeated hype is a year, and death like silence is also a year. Warrants also need their own glory and need to be pursued. Most of the people who participate in putting warrants know where the risk lies and understand the intrinsic value of warrants. As long as they are legal, they will have their own place.
Therefore, if the intrinsic value of the put warrant is 0 and the price is speculated to 10 yuan, it may seem excessive, but is such a warrant price not excessive at 1 yuan? So, the left and right are wrong, and you don't need to care too much about the difference between 1 yuan and 10 yuan.
Look at the garbage everywhere negotiable securities In the market, the real value of companies with a stock price of more than 30 yuan is less than 10 yuan, and some of the shares with a price of 100 yuan can stand scrutiny. In this view, the put warrants with a price of 10 yuan may not be unreasonable.
The "sadness" of put warrants is not due to their low value, but because their life is too short and they are rubbish shares You can also struggle for three years, while most put warrants have only one year's life, which may be the "mistake" of speculation in put warrants!?
Zhou Kejing
