After a period of downturn, this week's warrant market performance was eye-catching, and both the call and put warrants performed well, attracting investors' attention again. The highlight of the warrant market this week came on Wednesday. All subscribed varieties rose on the same day, of which Cloudchem CWB1 was in its regular shares Yuntianhua Under the leadership of; Sinochem CWB1, Maanshan Iron and Steel CWB1 and Yili CWB1 also ranked the top of the growth list with an increase of 16.502%, 12.291% and 10.44% respectively; The other subscribed varieties also increased by 2% to 7%.

The main reason for the collective rise of this round of warrants is that the stock index of A-share market has risen too fast recently. In the case of relatively high overall share price, warrants with a high negative premium rate have become a rare value depression. Therefore, when its corresponding positive shares send a clear upward signal, these warrants with absolute investment value will take advantage of the trend and make a breakthrough in volume. Investors can still boldly hold the subscribed varieties that are still at a high negative premium level, of which the two varieties with the highest negative premium rate are Maanshan Steel CWB1 and Wuliang YGC1 It deserves special attention.

This week, except for the adjustment of the stock index on Tuesday, the rest of the days were closed with a small positive line, but the put warrants did not show a completely opposite trend to the positive stock, but on Monday and Thursday, they went out of the same upward pattern as the stock index. On the surface, it seems difficult to understand the performance of put warrants, but on in-depth analysis, it is actually closely related to the mentality of investors. On Monday and Thursday, the stock index broke through the psychological points of 5300 and 5400 respectively. Each breakthrough made investors more cautious about the future trend of the stock market. After all, the market has not seen a decent adjustment in the past half month, especially after the gap in the stock index on Monday, technical short-term adjustment seems inevitable. Therefore, the sharp rise of the stock index has increased the market's concern about the adjustment, thus triggering the early launch of put warrants. We suggest that investors should still be cautious about the operation of put varieties. Before the market shows a certain downward trend, put warrants are highly risky. National Securities Li Yuan