This week, the warrant market again demonstrated the pattern of "buying strong and selling weak": 13 warrants rose across the board, with an average weekly increase of 13.70%, of which Changdian CWB1 、 Guodian JTB1 Both Sinochem CWB1 and Sinochem CWB1 gained more than 24% in the week; Put warrant except Valin JTP1 Except for the suspension, the rest declined to varying degrees, excluding Raw water CTP1 The average weekly decline of 11 put warrants was close to - 10%.
From the transaction situation, the total transaction amount of the warrant was 58.7 billion yuan, accounting for 78.5% of the total transaction amount of the warrant market, while the transaction amount of the put warrant was only 16.1 billion yuan; The daily average turnover rate of put warrants is as high as 83.13%, which is far higher than 51.81% of subscription warrants, indicating that short-term speculators who are fast in and fast out are mainly involved in the trading of put warrants.
At present, the duration of most subscription certificates is more than 3 months, and the average premium rate of subscription certificates is only 7.13% based on the closing price on Friday, which is still at a low level. Once the positive shares rise, investors can obtain leverage gains. However, warrants with reasonable valuation do not necessarily mean making money. In the absence of short selling mechanism, some high priced warrants even continue to have negative premium rates, such as Wanhua HXB1 、 Wuliang YGC1 Etc. In addition, next week is the last trading week before the Spring Festival holiday. Since most investors prefer to sell warrants before the holiday, to avoid losing time value due to the market closure during the Spring Festival, investors are reminded to operate cautiously. (Ping An negotiable securities Derivative Products Department (Zhang Junjie)
