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《高盛認股證牛熊證》 保險股顯著造好 跑贏大市 留意貼價友邦購28938、價外沽22043,貼價中壽購22101
阿思達克 04-29 11:28
正股表現:保險股今早顯著造好,當中昨日自上週四開始連升的友邦(1299),今早開市隨即突破100元水平,最高見103.5元,突破兩個月高位。現報102.6元,升約2.8%,而上週四至今則累計升逾7%。有券商料友邦今年首季的中國業務增長將跑贏同業,新業務價值按年升30%,並給予「買入」投資評級,目標價128元。

昨日升約0.1%的中人壽(2628),今早高開約0.8%後升幅擴大,最高見16.2元,迫近一個月高位。現報16元,升約2%,暫時為連續第三日上升。中人壽昨日公有首季業績,期內根據中國企業會計之營業收入達3,734.58億元人民幣,按年升10.6%。淨利潤為達285.89億元人民幣,按年升67.3%。

資金流向:觀察個股輪證資金流向,可見友邦認沽證於昨日獲資金轉向流入。牛熊證方面,則見牛證於昨日亦獲資金轉向流入,並分佈在收回價88至96元間的產品。而熊證則於近期持續獲資金流入,並見昨日流入熊證的資金集中在104元以下收回價的貼熊。

中人壽方面,則見近期資金持續吸納認購證,當中過去5個交易日皆錄得資金流入,合共約470萬元。而認沽證於昨日亦獲資金轉向流入。牛熊證方面,則見牛證於昨日繼續獲資金流入,有約170萬元,並集中在14.5至15元收回區域的產品。

產品選擇:投資者如看好友邦,認購證方面的貼價選擇可留意價外幅度約3%,年期約6個月的友邦購28938。高槓桿選擇可留意價外幅度約8%,屬短期的友邦購29778。牛證方面的貼牛選擇可留意屬市場上槓桿最高之一的友邦牛52809,與現價有約6.6元收回距離。遠牛選擇可留意友邦牛65043,與現價有約9.6元收回距離。

友邦購28938,行使價105.1元,2021年10月25日到期,實際槓桿7.4倍,貼價

友邦購29778,行使價110.98元,2021年06月11日到期,實際槓桿14.9倍,短期、高槓桿

友邦牛52809,收回價96元,行使價95.4元,換股比率100,槓桿比率13.6倍,市場上槓桿最高之一貼牛

友邦牛65043,收回價93元,行使價92.4元,換股比率100,槓桿比率10.3倍,相近收回價遠牛中槓桿最高

投資者如看淡友邦,認沽證方面可留意屬價外兼長年期的友邦沽22043。熊證方面可留意屬近熊的友邦熊68359,與現價有約7.4元收回距離。

友邦沽22043,行使價80.83元,2021年12月21日到期,實際槓桿7.8倍,價外、長年期

友邦熊68359,收回價110元,行使價111元,換股比率100,槓桿比率11.7倍,高槓桿近熊

投資者如看好中人壽,認購證方面的貼價選擇可留意價外幅度約3%的長年期中壽購22101。高槓桿選擇可留意年期約4個月的中壽購13213。牛證方面可留意屬近牛的中壽牛54056,與現價有約5%收回距離。

中壽購22101,行使價16.4元,2022年02月23日到期,實際槓桿6.2倍,貼價、長年期

中壽購13213,行使價18.02元,2021年08月24日到期,實際槓桿11.2倍,高槓桿

中壽牛54056,收回價15.28元,行使價14.68元,換股比率50,槓桿比率11.8倍,高槓桿近牛

投資者如看淡中人壽,可留意中壽熊54162,與現價有約3元收回距離。

中壽熊54162,收回價19元,行使價19.4元,換股比率50,槓桿比率4.1倍,相近收回價熊證中槓桿最高

註: 以上數據資料來自高盛認股證牛熊證網站https://www.gswarrants.com.hk/~

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