《高盛認股證牛熊證》港股期結窄幅上落 市場焦點美團業績 留意高槓桿購21868,貼價沽25435,遠牛59283
正股表現:在期指結算日之下大市窄幅上落,將於今日公布中期業績的美團(3690)成為市場關注焦點。市場料美團上半年非國際財務報告準則經調整虧損淨額料介乎66.29億至86.92億元人民幣。市場關注的新業務,則獲個別券商料今年第二季,與其他營運虧損擴大至102億人民幣。然而券商大部分仍給予美團「買入」等看好評級,目標價最高470元。
美團股價於上週二急升13%,及後數日於高位整固。今日早段窄幅上落,現報225.8元,升約0.4%。
資金流向:觀察個股輪證資金流向,可見認購證及認沽證於上週五皆獲資金轉向流入,分別有約190萬及110萬元。
牛熊證方面,則見牛證於上週五獲資金轉向流入,有約60萬元,散佈在195元以上的各收回區域產品。而上週五部署熊證的資金則沽出245元以下收回價的產品,並有部分轉倉至260元以上收回價的遠熊。
觀察港股通資金流向,則見上週五北水轉向沽出美團,錄得約2.6億元資金淨賣出。
產品選擇:投資者如看好,認購證方面的高槓桿選擇可留意年期約3個月的美團購21868。貼價選擇可留意屬行使價220至260元間的低街貨產品中,槓桿最高的美團購23012。
美團購21868,行使價274.08元,2021年11月23日到期,實際槓桿6.4倍,高槓桿
美團購23012,行使價260元,2021年11月25日到期,實際槓桿6.1倍,貼價、行使價220至260元間、低街貨產品中,槓桿最高
投資者如看淡,認沽證方面的貼價選擇可留意年期約4個月的低街貨美團沽25435。價外選擇可留意年期約5個月的美團沽24069。
美團沽25435,行使價198.78元,2021年12月23日到期,實際槓桿3.7倍,貼價、低街貨
美團沽24069,行使價172.78元,2022年01月24日到期,實際槓桿3.6倍,價外
此外,由於業績公布後股價或會波動,因此投資者如在業績前部署牛熊證,宜避免選擇貼價牛熊證以控風險。牛證方面可留意屬遠牛的美團牛59283,與現價有約26元收回距離。熊證方面的遠熊選擇可留意美團熊55287,與現價有約34元收回距離。近熊選擇可留意美團熊59047,與現價有約14元收回距離,屬進取選擇。
美團牛59283,收回價200元,行使價197元,換股比率500,槓桿比率7.6倍,近26元收回距離遠牛
美團熊55287,收回價260元,行使價263元,換股比率500,槓桿比率5.7倍,近34元收回距離遠熊
美團熊59047,收回價240元,行使價243元,換股比率500,槓桿比率12.2倍,進取、相近收回價近熊中槓桿最高
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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