Category: Money tips Release Date: 2006-06-19
Zhu Huacheng ZHENG Baoshan Iron and Steel curtain call scared rain Vanke (Information Quotes Forum) sac still be beasts Shanghai Composite Tiaokonggaokai at 1614.39 points today, after a slight overshoot index by 30 days post-MA suppressed, the pattern has remained within a narrow range, closing at 1612.40 points, down 0.06%, slightly more than the day before yesterday. Due to the weak market trend, so the seesaw effect between the warrant and its not very clear, 26 transactions, warrants, a total of 23 up, three down. Generally speaking warrants and the shares are more closely linked movements, today or a larger initiative subscription, Wuhan Iron and Steel subscription, Jacoby subscription, Anshan Iron and sale of such shares to varying degrees are rising. The put warrants rose across the board to this day, Vanke is put by the main virtue of the final hour of funds sought after, which will eventually rise as high as 20% of the first species list of all warrants.
Baosteel Warrants to subscribe for the first mainland branch usher in the last trading day today. Although Baosteel Warrants (Information Quotes Forum), the last line of the right to wait until August 30, today the most crazy experience that warrants a diving, from 0.2 yuan fell to 0.031 yuan, down, and turnover as high as 85.78% and 1165% , in a soul-stirring means to achieve a return to the theoretical value.
Baosteel large diving may be caused by:
1, the stock settlement allows investors to line of the right to face the risk of stock prices;
2, investors trading warrants Baosteel is not the right to line, making a heavy sell-off after midday scramble to appearance;
3, the intrinsic value of Baosteel warrants until August 30 was announced, the intrinsic value can be much higher than the current price of Baosteel's warrants;
Vanke put the speculation has its market rationality, while Baosteel Warrants August 14,15-day hype will no doubt encourage the Vanke warrants speculators on the other hand, the Shenzhen Stock Exchange on the Vanke warrants in a fee-splitting about stringent regulatory measures taken to make the absolute price of the main speculation ahead of the final round of speculation on the end of a broad mass base. Undeniably, Vanke will certainly warrants further warrants Baosteel has followed in the remaining Vanke warrants the performance of a few trading days is Kunshouyoudou.
Expectation of:
Stock index this week, after two-day rebound, failure to do more kinetic energy there is a tendency, coupled with the lack of continued market hot, and the prices rebound will take some time, so investors should pay more attention to the warrants conservative species, such as the airport put, Shanghai market put, Valin put, Wuhan Iron and Steel, as well as long electricity sale of such subscription.
From a technical form of point of view, warrants have entered a good increase in channel, investors pay attention wheeled variety, as well as the main financial trends, select varieties dare to intervene.
Appendix: Description and application of indicators of the intrinsic value: the intrinsic value of warrants = underlying stock price - the latest exercise price, if the underlying security price "= latest implementation of the price, then the intrinsic value of 0; put warrants the implementation of the intrinsic value = new value - the subject of equity prices, if the underlying security price "= latest implementation of the price, then the intrinsic value is 0.
Time Value: Time value = Warrant actual market price - intrinsic value, the price of any warrants are intrinsic value and time value and, investors can always calculate the intrinsic value, but the time value of warrants listed as the steady decline, so investors to warrants to determine price, should be noted that the right time, as the line approached, warrants the price is bound to keep close to intrinsic value.
Premium rates: premium rate is before the expiry of the warrants, is the percentage change in share prices need to be to warrant investors to play and to achieve the due date. Warrant the risk premium rate is a measure of the level of one of the data, the higher the premium, playing, and more was not easy.
Warrants a premium rate = [(exercise price + Call price / power ratio of line) / underlying prices of the securities
