Warrant primary dealer Guosen Securities Alternative Investment Headquarters
Since the rapid adjustment of "9.11", the market has risen steadily, showing four consecutive positive days and hitting a new high on Monday. Although the market is slightly weak due to the heavy weight of stocks, individual stocks continue to be active, with obvious earning effect. The relatively flat warrant market in the previous paragraph has continued to be active, and investors can continue to pay attention to the intrinsic value of the subscription varieties and look for investment opportunities.
Put warrants were issued, and China Southern Airlines JTP1 (580989) was created by a large number of securities companies. On September 14, more than 7 billion warrants were created citic securities Haitong Securities and Changjiang Securities created 667 million shares. Among them, CITIC Securities created 500 million shares at one time. On September 17, CITIC Securities announced the establishment of 300 million copies of China Southern Airlines JTP1 (580989). Due to the continuous rise of positive shares, in the current bull market environment, there is little possibility that the underlying securities of the put varieties will fall significantly below the exercise price. In other words, it is almost certain that all the put products are out of price securities when they expire, and rational investors will not choose to exercise. In this case, the trend of put warrants has no correlation with the positive shares and is purely a tool for short market or even speculation, thus providing a risk-free arbitrage opportunity for securities traders. For the investors involved, we must recognize the huge risks involved.
