Potash fertilizer JTP1 Time-sharing trend
More than one hour before the closing of yesterday's market, the situation of potash put warrants changed suddenly. Zhang Dawei charted the past two weeks. Because of the speculation of speculative funds, the price of the put warrants has been seriously inflated. From the perspective of value, at present, all five put warrants are out of depth price, and the possibility of exercise at maturity is extremely small. In particular, investors need to be reminded that Potash JTP1 has only four trading days left, and the premium rate is as high as 76.49%. There is no doubt that the warrant will go to "zero".
⊙ Our reporter Jianming Ping An Securities Zhang Junjie
Yesterday morning, the put warrants sector still showed some performance, but the situation changed more than an hour before the closing. The put warrants led by potash fertilizer collectively walked out of the sharp decline. By the closing, the average decline of five put warrants was as high as 23.61%. Among them, the potash fertilizer put fell from the highest price of 6.81 yuan to 3.15 yuan, down 36.04% throughout the day, ranking the first in the list of losses. Valin's put limit fell by 20.28%.
The current exercise price of potash put is 15.10 yuan, while Salt lake potash fertilizer It closed at 49.53 yuan yesterday, and this Friday is the last trading day for potash fertilizer selling.
"Potash fertilizer put has become a hot potato in the hands of warrant holders this week. We think it is wise for the holders of Potash fertilizer JTP1 to sell at any price now, and don't expect it to be a success again. And the sudden plunge of Potash fertilizer put yesterday also announced that the irrational bubble of put warrants in the near future began to burst gradually". Huang Changqing, an analyst at Ethnic Securities, said.
In the past two weeks, the price of put warrants has been seriously inflated due to the speculation of speculative funds. From the perspective of value, at present, all five put warrants are out of depth price, and the possibility of exercise at maturity is extremely small. In particular, investors need to be reminded that Potash JTP1 has only four trading days left, and the premium rate is as high as 76.49%. There is no doubt that the warrant will go to "zero" in the remaining trading days.
As the only product that can be created in the market at present, the recent surge of CMB's put has aroused the enthusiasm of securities traders for creation. Since June 14, more than 10 innovative securities traders have created 622 million CMB put warrants in total, accounting for 20.62% of the circulation of the warrants. These warrants were listed and circulated yesterday, which played a positive role in curbing the speculation of CMB's put. Relevant experts believe that the exercise price of CMB put is only 5.48 yuan, according to China Merchants Bank Yesterday's closing price of 23.98 yuan is likely to be a piece of waste paper. Now, it is only about two months before the last trading day of CMB's put, and only 5.48 yuan of capital needs to be frozen for a broker to create a CMB's put, so the creation of CMB's put may continue in the near future. It is obvious that a large number of newly created warrants are listed to CMB CMP1 The price of the warrant has brought greater pressure, which has promoted the return of the warrant to value. CMB CMP1 also fell 14.87% yesterday.
