《高盛认股证牛熊证》 阿里波幅迫近半年低 窝轮杠杆吸引 留意贴价购28396、高杠杆购13228
正股表现：阿里(9988)昨日终止三连跌，升约0.6%，惟今早再度下跌，最低见221元，迫近半年低位。现报221.2元，跌约1.8%。有券商指阿里管理层表示，会持续投入新兴业务以优化供给侧优势，当中阿里料淘宝直播网站的成交总金额将保持较高增速。该行维持对阿里「跑赢行业」投资评级，目标价304元。
资金流向：观察个股轮证资金流向，可见认购证於上周五及本周一共录得约1,940万元资金流入後，昨日与认沽证获资金转向沽出。牛熊证方面，则见熊证获资金转向流入。而昨日流入牛证的资金则集中在215元以上收回价的产品。
产品选择：仔细观察阿里个股专页，可见阿里近期波幅回调，并使窝轮价格减少。而相比之前高波幅水平之下，窝轮现时能提供更高杠杆。例如年期约2个月，价外幅度约10%的阿里购13228，已能提供10倍左右的杠杆。对比与现价约10%收回距离的阿里远牛55315，阿里购13228能提供更高杠杆，而且无收回风险，更值得看好的投资者留意。
阿里购13228，行使价243.08元，2021年07月23日到期，实际杠杆10.5倍，高杠杆
阿里牛55315，收回价200.18元，行使价198.18元，换股比率500，杠杆比率9.0倍，近10%收回距离远牛
此外，投资者如看好，认购证方面的贴价选择可留意价外幅度约5%的短期阿里购28396。牛证方面的近牛选择可留意阿里牛64595，与现价有约11元收回距离。
阿里购28396，行使价232.2元，2021年06月24日到期，实际杠杆12.2倍，贴价、短期、高杠杆
阿里牛64595，收回价210.18元，行使价208.18元，换股比率500，杠杆比率15.4倍，相近收回价近牛中杠杆最高
投资者如看淡，认沽证方面可留意年期约3个月，属贴价的阿里沽19740。熊证方面可留意属贴熊的阿里熊68791，与现价有约18.8元收回距离。
阿里沽19740，行使价204.68元，2021年07月26日到期，实际杠杆9.1倍，贴价
阿里熊68791，收回价240元，行使价242元，换股比率500，杠杆比率9.8倍，高杠杆近熊
注: 以上数据资料来自高盛认股证牛熊证网站https://www.gswarrants.com.hk/~
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