Back to Hot topics
Hot topics

商湯「傳奇故事」過後 如何收割? 如何換馬?

2024-05-09 Article
Hot topics
Warning This article available in Chinese version only

上周提到商湯(0020)一些好倉產品,以行使價於1.09元的CALL輪24167為例,該認購證輪價由一文不值突然出現爆發性的升幅,自0.099元急升至0.73元,足足大升逾600%,不少投資者獲利離場,成功將利潤袋袋平安。

出現這種爆發性表現的原因在於,商湯股價在短短一個多星期之內錄得數以倍數計升幅,令本身超級價外的認購證,在到期前的行使機會急升,帶動輪證對沖值,部分更由價外變為價內產生內在值,輪價跟隨急漲。

而隨股價近日於高位整固,仍看好的朋友,不妨可留意市場上價外的選擇,一方面可保持手持產品的槓桿效果,另一方面亦可於已貼價或深入價內的產品中獲利。市場上輪價較細的選擇,可留意行使價於2.38元認購證如18333,明年3月到期,能提供的槓桿有兩倍,上周升幅達76%,收報0.074元。

 

本結構性產品並無抵押品,如發行人無力償債或違約,投資者可能無法收回部份或全部應收款項。

本文由香港上海匯豐銀行有限公司(「本行」或「發行商」)發行(包括任何參考條款),僅供參考之用,並不構成邀約、游說、或建議出售或購買結構性產品。

結構性產品屬複雜產品,投資者務須就此審慎行事,除非投資者完全了解及願意承擔所涉風險,否則切勿投資此產品。結構性產品價格可急升可急跌,投資者或會損失所有或大部分投資。過往表現並不反映將來表現。投資前應了解結構性產品之性質及風險,並詳閱有關上市文件,獨立決定是否適合自己,若需要應諮詢專業建議。本行及其委任之流通量提供者可能是結構性產品的唯一市場參與者,而結構性產品的二級市場可能有限。謹請注意,牛熊證設有強制收回機制,因此有可能提早終止,在此情況下(i)N類牛熊證投資者會損失於牛熊證的全部投資;而(ii)R類牛熊證之剩餘價值則可能為零。買賣與美國指數掛鈎的結構性產品可能帶有額外風險,包括:(a)與交易日和交易時間差異有關的風險;(b) 有關指數的公開資料較少,或未有提供中文版本;(c) 與指數有關的政治和經濟風險(例如美國);(d) 匯率風險; (e) 可能延遲結算及(f) 在成份股並無交易時公佈指數水平與MSCI中國A50互聯互通指數掛鈎的衍生權證投資者可能會承受額外風險,包括:(i) 新推出指數的風險;(ii) 指數成份股為透過滬港通及/或深港通在滬港通及深港通的北向交易渠道買賣的A股;(iii) 有關指數的公開資料較少,且該等資料或未有提供中文版本;(iv) 與指數有關的政治及經濟風險;(v) 匯率風險;及(vi) 人民幣利率風險。

作者為金管局及證監會持牌人士,並無就結構性產品或相關資產持有任何直接或間接權益。

Other articles

Frequently used shortcut

Important Risk Warning

The structured products are not collateralized. If the issuer is insolvent or defaults, investors may not recover part or all of the amount due.

Structured products are complex products. Investors should exercise caution in relation to them. The price of the structured products may fall in value as rapidly as it may rise and investors may sustain a total or substantial loss of their investment. Prospective investors should ensure that they understand the nature and risks and seek professional advice where applicable. Please also note that CBBCs have a mandatory call feature and may therefore be subject to early termination, upon which (i) investors in category N CBBCs will lose all of their investments in the CBBCs; and (ii) the residual value of category R CBBCs may be zero. Trading structured products with United States (US) underlying index may be exposed to additional risks, including (a) risks relating to difference in trading days and hours, (b) less public information about the index and such information may not be available in Chinese, (c) political and economic risks relating to the index regions (such as the US), (d) exchange rate risks, (e) possible delay in settlement, (f) publication of index level when component shares are not trading, and (g) occurrence of mandatory call event for US index CBBCs outside trading hours. Click here for "Terms of Use".

Disclaimer

By viewing this website or using any information or functions of this website, you are deemed to acknowledge that you agree to the Privacy and Security, Terms of Use and Hyperlink Policy. Click here for "Disclaimer".

All data/charts are for reference purposes only.