WARRANTS WATCH: Index warrants took up 92.5% of last week's total warrant turnover
Call and put warrants issued over the Hang Seng Index and the FBM KLCI were in the spotlight once again, occupying a significant 92.5% of the total warrant market turnover last week. As of last Friday, a total of RM211.6mil of HSI warrants were traded on the Bursa stock exchange, followed by FBMKLCI warrants with RM75.2mil. Turnover for Telekom warrants came in third at RM6.8mil. These statistics are remarkable given that index warrants were not as popular a few months ago.
Put warrant HSI-H4 (strike 24,500) and call warrant HSI-CJ (strike 23,500) were the top traded warrants as index investors took advantage of the volatile Hong Kong market's benchmark index. The HSI touched an intra-week high of 24,189.59 on Dec 8, before closing at 23,249.20 points last Friday, down 3.1% for the week. HSI-H4 went up 22.8% over the same period, reflecting an inverse movement of a put warrant as the underlying decreases. In contrast, HSI-CJ fell 22.0% as the call warrant moved in line with the underlying index.
Although the FBM KLCI index moved slightly lower by 16.38 points (0.9%) over the past week, the local index was relatively volatile. Intra-week, the index moved as high as 1,765.52 (+0.9%) on Dec 10, before correcting lower to 1,732.99 on Friday's close. FBMKLCI-HG (strike 1,800) was the top traded warrant over FBM KLCI with bearish investors traded RM19.5mil of the put warrant. Bullish investors actively traded RM12.6mil of FBMKLCI-CO (strike 1,780) as the call warrant moved 7.5% lower given the weak underlying index over the week.
Below are the top 10 warrants with the highest turnover for the week.
Warrant Name Closing Bid Price* Turnover (RM mil) Price Change*(%) Issuer Exercise Levels Expiry Date Effective
Gearing (x)
HSI-H4 1.130 101.3 22.8 Macquarie 24,500 30 Apr 15 6.6
HSI-CJ 0.745 96.0 -22.0 Macquarie 23,500 29 Jun 15 7.5
FBMKLCI-HG 0.200 19.5 29.0 CIMB 1,800 30 Nov 15 7.3
FBMKLCI-HD 0.705 19.0 6.0 Macquarie 1,860 30 Jun 15 9.4
FBMKLCI-HB 0.260 16.9 10.6 CIMB 1,880 31 Jul 15 6.3
FBMKLCI-CO 0.335 12.6 -7.5 Macquarie 1,780 30 Sep 15 11.7
TM-C3 0.405 6.8 19.1 Macquarie 6.60 1 Sep 15 6.3
HSI-H8 0.940 5.4 21.3 Macquarie 23,000 29 Jun 15 5.8
HSI-H6 0.590 3.5 29.7 Macquarie 22,500 30 Apr 15 8.2
FBMKLCI-CL 0.200 2.2 -9.1 Macquarie 1,800 30 Jun 15 16.3
*price change calculated using bid price
Source: Bloomberg, malaysiawarrants.com.my
To learn how to trade index warrant, please refer to malaysiawarrants.com.my.
Provided for Malaysian residents information only. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice.
Call and put warrants issued over the Hang Seng Index and the FBM KLCI were in the spotlight once again, occupying a significant 92.5% of the total warrant market turnover last week. As of last Friday, a total of RM211.6mil of HSI warrants were traded on the Bursa stock exchange, followed by FBMKLCI warrants with RM75.2mil. Turnover for Telekom warrants came in third at RM6.8mil. These statistics are remarkable given that index warrants were not as popular a few months ago.
Put warrant HSI-H4 (strike 24,500) and call warrant HSI-CJ (strike 23,500) were the top traded warrants as index investors took advantage of the volatile Hong Kong market's benchmark index. The HSI touched an intra-week high of 24,189.59 on Dec 8, before closing at 23,249.20 points last Friday, down 3.1% for the week. HSI-H4 went up 22.8% over the same period, reflecting an inverse movement of a put warrant as the underlying decreases. In contrast, HSI-CJ fell 22.0% as the call warrant moved in line with the underlying index.
Although the FBM KLCI index moved slightly lower by 16.38 points (0.9%) over the past week, the local index was relatively volatile. Intra-week, the index moved as high as 1,765.52 (+0.9%) on Dec 10, before correcting lower to 1,732.99 on Friday's close. FBMKLCI-HG (strike 1,800) was the top traded warrant over FBM KLCI with bearish investors traded RM19.5mil of the put warrant. Bullish investors actively traded RM12.6mil of FBMKLCI-CO (strike 1,780) as the call warrant moved 7.5% lower given the weak underlying index over the week.
Below are the top 10 warrants with the highest turnover for the week.
Warrant Name Closing Bid Price* Turnover (RM mil) Price Change*(%) Issuer Exercise Levels Expiry Date Effective
Gearing (x)
HSI-H4 1.130 101.3 22.8 Macquarie 24,500 30 Apr 15 6.6
HSI-CJ 0.745 96.0 -22.0 Macquarie 23,500 29 Jun 15 7.5
FBMKLCI-HG 0.200 19.5 29.0 CIMB 1,800 30 Nov 15 7.3
FBMKLCI-HD 0.705 19.0 6.0 Macquarie 1,860 30 Jun 15 9.4
FBMKLCI-HB 0.260 16.9 10.6 CIMB 1,880 31 Jul 15 6.3
FBMKLCI-CO 0.335 12.6 -7.5 Macquarie 1,780 30 Sep 15 11.7
TM-C3 0.405 6.8 19.1 Macquarie 6.60 1 Sep 15 6.3
HSI-H8 0.940 5.4 21.3 Macquarie 23,000 29 Jun 15 5.8
HSI-H6 0.590 3.5 29.7 Macquarie 22,500 30 Apr 15 8.2
FBMKLCI-CL 0.200 2.2 -9.1 Macquarie 1,800 30 Jun 15 16.3
*price change calculated using bid price
Source: Bloomberg, malaysiawarrants.com.my
To learn how to trade index warrant, please refer to malaysiawarrants.com.my.
Provided for Malaysian residents information only. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice.
