Category: Money tips Release Date: 2006-10-03
Baosteel Warrants through the twists and turns, finally was quiet. Baosteel Warrants from the hot cause analysis, there is the role of market speculation boom, with investors factor in the non-rational thinking, but also warrants warrants product prices caused by the scarcity of a serious departure from its positive share price. Whatever the reason, market participants gave Baosteel Warrants left a deep impression, the warrant price fluctuations make it the focus of the market, attracting a large number of active capital markets, making a continuous turnover of warrants for several days Shanghai stock market accounted for about one third of the total turnover. Also makes well-prepared and accurately grasp the opportunity for investors to achieve a one-day rich-quick dream, but a lack of understanding of the warrants, and blindly follow the trend of investors suffered huge losses.
那么. In what will be after Baosteel Warrants Warrants will debut, whether they can continue to perform warrants hot Quotes?
Baoshan Iron and Steel Covered Warrants
According to the Shanghai Stock Exchange official said, there are a number of brokers are certainly looking at Baoshan Iron and Steel launched covered warrants. Covered warrants are warrants broad, it also gives the holder to a specific price for a stock rights, warrants, but in general, is different from the listing of covered warrants issued to third parties outside the company. Because they do not involve a share capital increase, the issue of covered warrants is simpler.
Issuers of covered warrants can increase the supply of warrants, serve to effectively prevent excessive speculation in the role of the C of E, which itself exists to quell hot warrants Quotes purposes. With Baosteel covered warrants exercisable at price of power-line ratio, expiration date with the existing warrants is fully consistent Baosteel, for investors, the value of the two warrants is the same. At present, Baosteel Warrants have become more rational, and its covered warrants listed Baoshan Iron and Steel will be difficult to reproduce the hot JTB1 situation.
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Long Electric Warrants
Yangtze Power will soon be listed warrants. Recently, Baosteel Warrants fall will not affect the trend is not only a long electrical market conditions warrant, but a long electrical stimulation will be more fiery warrants. Because, compared between the two, long electric warrants has obvious advantages. Long-duration electrical warrants for 10 months over the duration of Baosteel warrants more for 6 months; long electrical warrant exercise price of 5.5 yuan, Baoshan Iron and Steel warrant exercise price of 4.5 yuan, but now Baosteel stock has fallen below the exercise price, this week's closing price was 4.47 yuan 4; and long electricity price is much higher than the exercise price, this week's closing price of the four 7.59 yuan.
If it is from the investment value analysis, iron and steel industry is typically cyclical industry, by the national macro-control policies, and long power was able to get the state's industrial policy support; iron and steel industry has excess capacity, capacity is greater than the contradiction between demand beginning to show , while the electricity is in short supply; in April since the domestic steel prices began to fall, while the electricity price increases and steady; in the steel industry, the economy has continued to decline at the same time, the power industry, the economy has continued to rise. In this background, the pros and cons between the two has been very clear, long after the listing of fiery electric warrants Quotes are worth the wait.
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Agricultural Warrants
As of June 17, 2005, agricultural products, after the stock goes ex-dividend price of 3.35 yuan / share, on this basis, the Shenzhen Municipal SASAC to all the outstanding shares of the shareholders made a commitment: If the company share-trading reform of this program have been Shareholders meeting reviewed and adopted, then the implementation date of the first 12 months of the last five trading days, all of the outstanding shares of the shareholders entitled to 425 yuan / share (the price will be implemented in the company of cash dividends, and Provident Fund Major Holders Zhuanzengguben when adjusted accordingly) will hold the price of shares in circulation of agricultural products sold to the Shenzhen Municipal SASAC.
Agricultural products is a kind of put warrants warrants, due to design very simple and, therefore, its calculation is very simple, the value of the warrants at a glance. In the market is difficult for their interest in speculative funds, as of July 29 until the suspension of agricultural products, its shares closed at 4.13 yuan, 4.25 yuan repo lines close at hand, can anyone really willing to this 0 .12 yuan difference while buying the warrants it? Plus there is a certain agricultural products warrants the possibility of being manipulated and risks, therefore, operability is not strong, it is hard for hot situation after the listing.
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50ETF Warrants
SSE vice general manager Liu Xiao-dong has said that SSE plans to ship this year the Shanghai 50ETF warrants, warrants will be listed on the implementation of T +0 transaction. Meanwhile, the SSE is actively developing the C of E a dealer. According to media reports, the Shanghai 50ETF warrants possible before and after the introduction of the National Day, the Shanghai 50ETF may set the initial size of 100 million or so; pre-launch period will be shorter �warrant is initially set at 6 months; lines of the right proportion of initially set to 1 �10 �that a copies of warrants to subscribe for 10 copies of the certificate 50ETF.
According to experts, the launch of 50ETF warrants, the band will be much higher than 50ETF itself. For example, if 50ETF warrant is exercisable at a price and the current 50ETF the same price, then, 50ETF's share price is 0.8 yuan, corresponding to the C of E is 0.8 × 12% = 0.096 yuan, up 5 if 50ETF %, the price of warrants may rise 24%, its rise will likely be 50ETF is stocks rose nearly 5 times.
At present, the Shanghai 50ETF the total share has exceeded 100 million, its trading volume is very active, daily trading volume in the market first. Secondly, the characteristics of the Shanghai 50ETF itself a very difficult decision to be manipulated. This makes the risk of ETF warrants more controllable and therefore more feasible.
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