《高盛認股證牛熊證》 騰訊見近一個月低 資金積極部署好倉 留意貼價購23544、高槓杆購23013
正股表現:騰訊(0700)昨日受壓,收市跌約1.6%,今早繼續受壓。早上低開約1.8%後低見443.2元,爲過去四周低位。現報448元,跌約1.4%。
據騰訊報表披露,騰訊昨日於聯交所回購23萬股,涉資約1.04億元。而至今騰訊已累計回購共401.18萬股。騰訊旗下騰訊雲,與儀表板供應商Grafana Labs於今年四月合作後,日前宣佈雙方進一步合作,共同開發和驗證全新的第一方產品Grafana託管服務。
資金流向:觀察個股輪證資金流向,昨日資金趁低積極部署好倉,錄得約1,540萬元資金流入,爲同期最多資金流入的相關資產。當中認購證佔約1,310萬元,牛證則佔約230萬元,分散於各收回區域。
產品選擇:目前市面上的認購證大致分類爲兩種,分別是換股比率100兌1及500兌1。100兌1的產品普遍槓桿較高、敏感度較高,但年期則較短,並較價外。而由於面值較高,因此當產品的面值低於0.25元時,敏感度會減低。而縱觀市場上騰訊100兌1的產品,目前並無500元以下行使價的高敏感度產品。而較貼價的條款由於價格較貴,500兌1的產品則能把面值減低至0.25元以下、雖槓桿及敏感度較低,但年期較長、相對風險亦會較低。投資者可因應自己的投資取態,選擇不同類型的產品部署。
投資者如看好,認購證方面的貼價低面值選擇可留意騰訊購23544,中長線部署、低面值選擇。高槓杆進取選擇可留意年期約4個月的騰訊購23013。牛證方面可留意屬遠牛的騰訊牛52570,與現價有約58元收回距離。
騰訊購23544,行使價450元,2022年12月20日到期,實際槓桿3.3倍,貼價、低面值、中長線部署
騰訊購23013,行使價525.5元,2022年01月19日到期,實際槓桿7.2倍,高槓杆
騰訊牛52570,收回價390元,行使價387.2元,換股比率500,槓桿比率7.1倍,近58元收回距離遠牛
投資者如看淡,認沽證方面的貼價選擇可留意年期約4個月的騰訊沽24338。高槓杆選擇可留意年期約4個月的低街貨騰訊沽24068。熊證方面可留意騰訊熊65334,與現價有約42元收回距離。
騰訊沽24338,行使價400.2元,2022年01月25日到期,實際槓桿5.5倍,貼價
騰訊沽24068,行使價379.8元,2022年01月24日到期,實際槓桿6.0倍,高槓杆、低街貨
騰訊熊65334,收回價490元,行使價493元,換股比率500,槓桿比率9.4倍,近42元收回距離熊證
注: 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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