Sui Warrant stalled, 400 billion yuan to 18.8 billion yuan, scaring off big alligators to move to Shanghai
"I will call you once I get on the Dragon and Tiger List of Shenzhen Stock Exchange"
Financial Weekly reporter Huang Ting/Wen
March 26, Guangzhou, cloudy.
The Shanghai and Shenzhen stock markets rose and fell, and the Shanghai Stock Exchange Index closed at 3607.
In the warrant market, there is a vast expanse of green for subscription certificates and a "double sky" for put certificates.
The opening of China Southern Airlines JTP1 fluctuated slightly. After 10:30, it soared and continued to rise steadily in the afternoon. The closing rose 58.32%, with a turnover of 32.356 billion yuan, an increase of 349.93% over the previous trading day.
Wuliang YGP1 The road to zero was not as smooth as expected, encountering stubborn resistance near 0.04 yuan, but finally ended with 0.004 yuan, with a turnover rate of 1840.84%.
The last round of Wuliang put and warrant jointly passed the last trading day.
The disappearance of these two coveted warrants from the warrant circle in Guangzhou seems to be a memorial to the decline of the warrant market in Guangzhou in another way.
400 billion to 18.8 billion, capital diving
On March 26, the total transaction volume of the warrant market was 46.241 billion yuan, an increase of 94.36%% over the previous trading day. Of which, the turnover of subscription certificates was 13.574 billion yuan, 16.61% less than the previous day; The sale of put warrants was 32.641 billion yuan, a huge increase of 335.25% over the previous trading day.
Huang Dong, a derivative analyst of Orient Securities, told the Financial Weekly that the trading volume of warrants in the whole market has not shrunk. However, the warrant circle in Guangzhou has lost its former peak.
The heyday of warrant trading in Guangzhou began last June.
From the data of Shanghai Stock Exchange, we can see that before June last year, there had been only tens of billions of yuan of warrant trading amount in Guangzhou.
In May, the trading amount of warrants in Guangzhou reached 49.16 billion yuan, up 85% month on month.
In June, the trading amount of warrants in Guangzhou hit 100 billion yuan, reaching 176.6 billion yuan, a month on month increase of 259%.
Since then, in the second half of 2007, the warrant trading in Guangzhou has maintained a thriving posture, with the monthly turnover increasing from 100 billion and 200 billion to 300 billion. In December, the monthly warrant trading amount in Guangzhou reached a historical peak of 378.38 billion yuan. At that time, the market was still above 5000 points.
Nearly 400 billion yuan seems to have disappeared at the beginning of 2008.
In January 2008, Guangzhou warrant market only traded 18.8 billion yuan.
In February, the transaction amount rebounded to 34.3 billion yuan, but compared with hundreds of billions of heroic, the grand occasion is no longer.
Following the delisting of both Wuliang put and call warrants on March 26, there are 14 warrant products in Shanghai and Shenzhen stock markets, and the put warrant is only one of China Southern Airlines JTP1.
Huang Dong said that the scarcity of warrant trading varieties, especially put warrants, was also the reason why the warrant trading market shrank.
The reporter of Financial Weekly learned from the warrant circle in Guangzhou that most of the people who are specialized in warrant trading in Guangzhou are inclined to operate put warrants. The scarcity of put warrants directly affects the activity of the warrant trading market in Guangzhou.
"Warrant King" is invisible
During the trading hours, the business department of Orient Securities in Pingyue Road, Guangzhou was quiet and the corridor was sparsely populated. More than 30 large family rooms have also changed the situation that last year was full. Several luxury decorated large family rooms are empty. Some large rooms that usually have four or five people working together now only have one or two people standing alone in front of the computer looking at the panel, occasionally raising their hands and moving the mouse.
This business department is known as the "birthplace of Guangzhou warrants". When the trading was most active last June, its single business department accounted for 1/10 of the total warrant trading volume in Guangzhou.
Song Yuping, the general manager of the business department, told the financial weekly newspaper: "When it was hot in the past, the daily trading volume of warrants in the business department was several billion yuan."
However, according to the data of the Shanghai Stock Exchange, the warrant trading amount of the business department in February this year was only 400 million yuan, which can only serve as a fraction of the trading amount of the previous day.
Wang Fang (not his real name) is not only the "boss" in the warrant circle of the business department, but also the leader in the warrant circle of Guangzhou. People in the warrant circle of Guangzhou call him the "warrant king".
An insider told the reporter of Financial Weekly that the trading style of "Warrant King" is very aggressive, fast in and fast out, and because the amount of funds is too large, it is often necessary to operate on several warrants at the same time to disperse funds.
Song Yuping said: "At most times, the 'Warrant King' can have tens of billions of transactions a day."
The ranking of Orient Securities Guangzhou Pingyue Road Business Department on the Shenzhen Stock Exchange warrant trading dragon and tiger list is often the "warrant king". But now, the number of times that the business department of Orient Securities Guangzhou Pingyue Road has been on the list has been less and less. Since March, the business department has only been on the list twice, and in January this year, the business department has not even been on the list once.
When the reporter of Financial Weekly interviewed the business department on the spot, the big customers of the business department said that they seldom met the "Warrant King" in the business department recently, and wondered whether the "Warrant King" had left.
However, Song Yuping told the reporter of Financial Weekly that the "Warrant King" is still there, but not much trading now.
An insider said: "Warrants are all playing 'lively'. The 'Warrant King' should be regarded as the wind vane of Guangzhou's warrants. Now the" Warrant King "has disappeared, and many warrant players in Guangzhou have also died down."
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