Category: Money tips Release Date: 2007-04-06
There are two ways to make money speculation warrants, one line of the right, and second, transactions Change difference. Warrants into warrants and put warrants. Warrant holders agreed within the required period or a specific expiration date, shall be entitled to the agreed purchase price to the issuer related securities. When the line right above the exercise price when the stock price, known as price, investors can be the difference. On the contrary, such as the right line of the stock price less than the exercise price, called the price, the investors earn less than one point, warrants like the paper one. Such as Baosteel warrants, the company provided an exercise price per share 4.5 per share, such as the right line for 5 yuan, 0.5 yuan for each can make. Bank shares such as Baosteel Warrants only 4 yuan, then can not make money.
Put Warrant and the Warrant the contrary, the agreement holders within the required period or a specific expiration date, shall be entitled to the agreed price to the issuer to sell the underlying securities portfolio. Such as the introduction of the commitment of agricultural products, expiration major shareholders repurchase shares by 4.25 yuan per share. When the line right below the put price of the stock market when the price is called in, he will be the difference; the other hand, if the stock price above the line put the right price, known as the price of things, it does not make a sub, put warrants are also became the paper one.
Just play the stock market speculation warrants
Warrants can be freely traded in the market, investors can sell high, buy low earn spreads. Warrant prices are set by the intrinsic value and time value of the decision, so pay attention to the underlying stock price and the remaining survival time. Specifically, when the stock price goes up, the call warrant price rose accordingly, the price of a put warrant down. On the contrary when the stock price falling, the price of the subscription cards fall in put warrant price increases. As mentioned above, Baosteel, when the stock price rose from 5 yuan to 6 yuan, due to the subscription price is set at 4.5 yuan, then the subscription card will be a corresponding rise in the price of 1 yuan, theoretical price is 1.5 per head. On the contrary, such as the price fell to 4.6 yuan, its theoretical price is only 0.1 yuan.
As the remainder of the longer survival, rates of change in stock price may be greater, the greater the possibility of profits for investors, so the greater the value, whereas the smaller value. Such as Baoshan Iron and Steel right next Caixing, this year's stock has fallen 4.5 per below the exercise price, it does not mean that the price of the subscription card is zero, because it also increases the possibility of last year, so the market price of the subscription cards may be a few cents. (Liu)
