《瑞銀窩輪》阿里股價逆市升 兩手準備Call 18434、Put 17823
港股2020年紅盤高開，本來升勢有機會持續到第二個交易日，恆指週五高開約300點，但美軍空襲伊拉克首都巴格達，市場避險情緒湧現，恆指高位急速回落，失守28500點，大型股份不少受到拖累，近日的新股王阿里巴巴(9988)早段時間創出在港上市後的高位，雖然之後受拖累回落，但全日仍得以報升。如投資者看好阿里，可留意近日新上市的阿里巴巴認購18434，行使價226.19港元，20年5月到期，有效槓桿約7.4倍。不過根據瑞銀於星期五的即市資金流紀錄，資金流出阿里巴巴的認購證並流入認沽證，反映投資者或看淡阿里巴巴短線的走勢，始終阿里上市後累積升2成，不少投資者認為股價或有回吐壓力。如投資者看淡阿里，可留意阿里巴巴認沽17823，行使價195港元，20年7月到期，有效槓桿約5.6倍。
另外如上文所提及，美國和中東政治局勢不穩，週五早上金價、油價都出現急升，當中現貨金更一口氣升穿1530美元以及1540美元兩個大關，至港股收市時仍繼續向上。事實上金價近月走強，12初在1450美元附近起步，已累積升超過6%。受惠美元由高位回落，加上傳統上11月至1月為印度節慶及嫁娶高峰期，為黃金的價格添上動力，而剛巧美伊關系緊張，亦成為進一步推動黃金上升的原因。追蹤黃金價格的SPDR 黃金ETF (2840)週五亦升15港元，如投資者看好Ｓ金，可留意SPDR金ETF認購11676，行使價1188港元，20年4月到期，有效槓桿約13倍。
更多窩輪牛熊資訊：瑞銀證網站: www.ubs.com/hkwarrant
窩證教學及巿況焦點短片:
https://www.youtube.com/channel/UCKw86qy4eBAInmd52MND45Q?view_as=subscriber卓素華董事
瑞銀亞洲股票衍生產品銷售部
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