Wang Bin
Yesterday, the put warrants of China Southern Airlines (580989. SH) were created by Nanjing Securities again 160 million shares. So far, the total number of China Southern Airlines put warrants created by securities companies has reached nearly 10 billion, and the circulation share of China Southern Airlines put warrants has also exceeded 10 billion, while the size of China Southern Airlines put warrants was only 1.4 billion when they were listed on June 21.
According to the statistics of Wind Information, as of yesterday, the total number of put warrants of China Southern Airlines created by securities companies had reached 9.368 billion, and the balance of warrants had reached 10.215 billion, which means that the circulation volume of put warrants of China Southern Airlines had reached 10.215 billion.
As of yesterday, 21 securities companies had created China Southern put warrants with a balance of 8.815 billion, of which citic securities The largest number of securities were created, reaching 1.97 billion shares, far exceeding the 790 million shares of Guotai Jun'an Securities, the second largest.
Although the put of China Southern Airlines was once again set up with a huge amount of money yesterday, in the case of a sharp drop in the put warrants yesterday, the put of China Southern Airlines became the only one of the four put warrants with a decline of less than 10%, which fell only 8.75% yesterday. According to its closing price of 1.543 yuan yesterday, its circulation market value reached 15.762 billion yuan yesterday.
According to the exercise conditions of China Southern Airlines, the exercise ratio is 2:1, that is, every two put warrants can sell one share to China Southern Airlines Group, and the exercise price of China Southern Airlines put warrants is 7.43 yuan.
At present, the put warrants have not been popular in the market, and the securities companies are still keen to create warrants. Among them, the biggest temptation comes from the risk-free arbitrage of put warrants created by securities companies. Yesterday, China Southern Airlines (600029. SH) positive shares closed at 25.66 yuan. By the time of exercise in June next year, the possibility of falling below the exercise price of 7.43 is very small, that is, China Southern Airlines put warrants are "worthless", and the price is likely to "return to zero" when approaching the exercise period.
Take Nanjing negotiable securities Take the creation of 160 million put warrants of China Southern Airlines as an example. If they hold them until the last cancellation, based on yesterday's closing price of 1.543 yuan, their arbitrage opportunities are huge.
Related reports:
China Southern Airlines' put was hit by another 667 million listed shares
9. Securities firms set up 1 billion China Southern put arbitrage or more than 2 billion
More than 1 billion shares of China Southern Airlines have been sold by securities companies
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