Category: Money tips Release Date: 2006-03-08
Starting this week, China's stock market began its big expansion warrants, the new varieties of warrants will be ten times the size of Baosteel warrants market.
If we open a listing of Baosteel Warrants day since the K-line charts, you will find his form was "V"-shaped trend, a Swordsman winner attitude. Since listing, Baosteel Warrants would be thrown out of control, almost every day to make the management of scary. Was first introduced purely for active warrants market, which management had high expectations, both with "T +0" trade system, but also complemented by Baosteel with 40 million yuan to support the market value of investments to create a market effect. However, we can all see the results, no matter how the management of stick, how to conduct risk tips, how prosecuting illegal, they can not stop speculation crazy situation.
Warrants will be able to stabilize the market after the big expansion of the speculation? In the author's view, a contradictions are resolved, new contradictions might again arise. In fact, European-style warrants such as Baosteel, the listed companies and is 1:00 in terms of risk management at all.
On the management and the risk of a listed company would have no warrant to make the management of terror-stricken, but the real potential risks to the present not a single person raised, it is somewhat funny. In the author's view, the future of the upcoming "put warrants" from a listed company must be made to the management and attention.
Call warrants and put warrants the biggest difference is: the former recipient is uncertain, in market transactions is scattered; while the latter is to determine the recipient, that is when the stock fell below the exercise price, all holders can be in the hands of cargo thrown listed companies. Those lip of the companies in the stock reform in order to pay less or non-payment of the price of the introduction of put warrants, in the end how many of these companies are now psychologically prepared for? In the final analysis the number of funds to prepare? This year the table determined to be easy, but to solve the problem have to rely on real money.
Worth noting is that some American-style put warrants, or warrants, that is, before the expiry date you can request any day of the right line, once below the exercise price, everyone will be selling goods company, a listed company has no money, Behold that only good show.
This is not unfounded. Since there are too many shares changed my surprise, nearly one hundred million yuan to support the market entry across the board hold-up, not to mention the mouth alone to talk about the right price of the options? At present the stock market has become a warrant Quotes and reverse the trend, Baoshan Iron and Steel warrants turnover of more than one day a market turnover, if a large number of warrants listed, A-share market would it not be marginalized? This will bring great impact on share reform, it should be caused by management's attention.
