Panorama reported on February 22 that the market fell sharply in a row, coming out of three consecutive negative periods, and fewer than 300 stocks rose. The purchase right suffered a "Black Friday" today, with the exception of the newly listed ZTE ZXC1, all rights fell by more than 3%. Valin JTP1 After reaching a new high in turnover rate, he ended his historical mission with a penny. Active put options trading shows that it is still the first choice of hedge funds in weak markets.
Today is the last trading day for Valin JTP1, which plunged more than 20% at the opening. However, many speculators quickly pushed their prices higher after opening, once turning red, and the turnover rate rapidly increased. However, many funds left the market after winning this round of short-term market. Valin's put without financial support began to return. The rebound of more than 10% occurred many times in the session, and the turnover rate also exceeded 1000%. After 14:30, the chips of speculative funds began to hit the market coincidentally, and finally their closing price was fixed at the price of one cent. The daily turnover reached 1305.78%, a new high since its listing, but lower than the turnover rate on the last trading day of CIMC's put and potash fertilizer's put, and higher than the turnover rate on the last day of CMB's put. For the third day in a row, Wuliang's put hit the price limit and was temporarily suspended for one hour by the Shenzhen Stock Exchange. After the resumption of trading, the selling of Wuliang has remained high and volatile. Speculative funds are constantly changing hands to find profit margins. Its turnover rate reached 475.60, the highest since June 14 last year, and the final increase was still 10.11%. Although the turnover of China Southern Airlines JTP1 decreased, the increase remained unchanged, reaching 7.64%. After the delisting of Valin JTP1, only China Southern Airlines JTP1 and Wuliang YGP1 The two put options, Wuliang's put option next month will also expire and be delisted, and China Southern's put option will expire in June. If there is no change in the warrant issuance system, there will be a single warrant market with only options to purchase, and a market without options to sell. As a financial derivative, the weak hedging feature will be lost.
The newly listed ZTE ZXC1 maintained its ceiling price, but there were many large selling orders in its early trading, which was rare on the first day of the listing of new rights, so it could not be ruled out that it was a benefit transfer. Transactions were sparse in the afternoon, with a turnover rate of 2.46%, up 46.24%. Due to the general decline of individual stocks, especially the deep decline of heavyweight stocks, the steel purchasing right led the decline of the market. WISCO CWB1 fell 6.13%, WISCO CWB1 fell 5.97%, and Maanshan Steel CWB1 fell 5.77%. High priced rights also underperformed, Wuliang YGC1 Below the support of 40 yuan, the decline reached 5.48%, and Shenzhen Development SFC2 fell 4.94%. Yunhua CWB1, which had once risen by 2% in early trading, finally fell by 3.74%. The performance of sub new options was slightly better, Rizhao CWB1 Down 3.40%, Guoan GAC1 down 3.98%, and Shenzhen High CWB1 down 4.57%. SAIC CWB1 The trading was suspended for one day due to the general meeting of shareholders.
Today, a total of 35.161 billion yuan of warrants were traded in the two cities. Due to the decrease in put trading of China Southern Airlines, the trading volume was reduced by 30%. A total of 182.965 billion yuan was transacted this week, exceeding the turnover in the first week at the beginning of the month, and hitting a new high in the weekly turnover of the power market this year. If the stock market remains weak next week, the only two put options in the two markets are expected to continue to be favored by speculative funds, and the turnover may continue to create a huge amount. (Panorama/Thunderstorm)
