Warrant market fell together

Yesterday, the positive stock market closed slightly higher, and the Shanghai Index returned to 3900 points. However, the warrant market did not diverge, but fell together. Of all the 15 warrants traded, only three realized a slight increase. While the put warrants continued to fall to release risks, the call warrants also fell one after another due to the impact of the end of the day pullback in the positive stock market, and almost all of them turned green to close.

Among the warrants, Masteel CWB1 and Wuliang YGC1 Achieved growth, but the growth was very small, 0.61% and 0.35% respectively. The other 8 declined. Among them, the biggest drop was Shenzhen Development SFC2, with a decline of 3.29%, and Shenzhen Development SFC1 also fell 2.81%, closely followed. Analysts believe that the whole day trend of warrants yesterday can basically reflect the situation of the positive stock market, and the decline is also expected due to the adjustment after two o'clock in the market.

Of the 5 put warrants, only Wuliang YGP1 Rose by 1.66%. The biggest drop is CMB CMP1 12.28%. The warrant has fallen for five consecutive trading days, with a decline of 37.16%. Nevertheless, the premium rate of CMB CMP1 is still as high as 82.43%, and risk release will take some time. The premium rate of the other warrants also exceeded 50%, and the participation risk was huge. Market participants pointed out that at present, the intrinsic value of all put warrants is zero, which is extremely risky. In this case, investors need to be cautious. (Cong Rong)