⊙ Hua Jianqiang, Ping An Securities Comprehensive Research Institute
On Wednesday, the two markets went down unilaterally, and the Shanghai Composite Index closed at 4070.12, down 2.30%. The warrant market is polarized. Put warrants staged a desperate counterattack, while subscription warrants mostly fell. In terms of transactions, the total transaction volume of the warrant market yesterday was 30.310 billion yuan, basically the same as the day before yesterday. Of which, 21.412 billion yuan of subscription certificates were sold, a slight decrease of 5.64% over the previous day; The sale of put warrants was 8.897 billion yuan, about 16.06% higher than the previous trading day.
The subscription certificate plate weakened as a whole, with more than half of the varieties falling by more than 5%. It is worth mentioning that Shanghai CWB1 rose against the market yesterday and closed up 5.38%, becoming the only bright spot in the securities purchasing sector. Sinopec CWB1 failed to continue the strong performance of the previous day. On Wednesday, it opened high and moved low, falling 5.63% throughout the day, and 2.54% more than its regular shares, which to some extent showed the leverage risk of derivatives in the weak market. ZTE ZXC1, another variety, fell 9.30% yesterday, ranking first in the decline of warrants.
In terms of transaction, the change of each warrant purchase is different. Cloudization CWB1 was 103.90% higher than the previous day, with the most obvious increase. COSCO CWB1 and Shenzhen Development SFC2 also increased by 59.26% and 58.88% respectively over the previous trading day. ZTE ZXC1 Rizhao CWB1 , Petrochemical CWB1 and Wuliang YGC1 Then there will be different degrees of shrinkage.
On Wednesday, the put certificate changed from its recent decline, and both of the two varieties rose by more than 10% at the closing. Of which, short-term selling certificate Wuliang YGP1 It was first suppressed and then raised. In the last half hour, it was pulled all the way from a decline of nearly 10% to the limit, and the sign of doomsday foolishness was obvious. At present, the price of the two varieties is relatively high, and Wuliang YGP2 is more than 80%. As the maturity date approaches, investors will be reminded to focus on risks.
