In order to reflect the characteristics of warrants as stock derivatives, the SSE imposes limits on the rise and fall of warrants related to stock prices, rather than 10% or 5% fixed rise and fall limits. The calculation formula is as follows: rise price of warrants=closing price of warrants on the previous day+(rise price of underlying securities on the current day - closing price of underlying securities on the previous day) × 125% × exercise ratio; The decline price of the warrant=the closing price of the warrant on the previous day - (the closing price of the underlying securities on the previous day - the decline price of the underlying securities on the current day) × 125% × the exercise ratio. When the calculation result is less than or equal to zero, the decline price of the warrant is zero.
Investors can calculate the price of the warrant in the following way: first, calculate the difference between the limit price of the stock on the current day and the stock price on the previous day. This price can be called the "stock price fluctuation", and the calculation result is accurate to "cents"; Then, calculate 1.25 times the fluctuation price of the stock to get the "fluctuation price of the warrant"; Finally, on the basis of the closing price of the warrant the day before yesterday, add or subtract the fluctuation price of the warrant, and the calculation result is accurate to "per cent" to get the fluctuation price of the warrant.
with WISCO JTB1 For example, on November 24, the closing price of Wuhan Iron and Steel JTB1 was 1.172, which reached the rising price. It was calculated according to the following method: on November 23, the closing price of G Wuhan Iron and Steel was 2.77 yuan, and the rising and falling price of Wuhan Iron and Steel was 0.28 yuan. Multiplying 1.25 times, the rising and falling price of the warrant was 0.350 yuan. On November 23, the closing price of Wuhan Iron and Steel JTB1 was 0.822 yuan, and the rising price was just 1.172. On November 28, WISCO JTP1 The closing price was 1.498 yuan, reaching the falling price, which was calculated as follows: on November 25, G The closing price of WISCO is 2.91 yuan, and the fluctuation price of WISCO is 0.29 yuan. Multiply it by 1.25 times to get the fluctuation price of the warrant is 0.3625 yuan. On November 25, the closing price of WISCO JTP1 is 1.86 yuan, and the decline price obtained by subtracting the fluctuation price is 1.498 yuan (the calculation result is accurate to "per cent").
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
