18 January 2017
Structured Warrant Activity in January MTD
  • Vontobel listed several new warrants over the Hang Seng Index in January. This included Call and Put warrants which expire on 30 March 2017 as well as an upcoming listing on 19 January of four more Call and Put warrants over the Hang Seng Index expiring on 29 May 2017.
  • Structured Warrant turnover for the January month to date has totalled above S$636 million, after reaching a record high of S$1.2billion in December 2016. The five most active Index Warrants for January month to date were Structured Warrants of the Hang Seng Index. They comprised four Call and one Put Warrant, with a total turnover of S$362 million.
  • The five most active Stock Warrants for January month to date were Call Warrants on Singapore’s banking stocks and Keppel Corporation, with a total turnover of more than S$9 million. OCBC’s Call Warrant with a strike level of S$9.50 and expiry date on 2 October 2017 was the most active warrant. It generated a trade value of almost S$3.1 million in the period.

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New Warrants Listing 

 

Vontobel listed several new warrants over the Hang Seng Index in January. This included call and put warrants which expire on 30 March 2017 as well as an upcoming listing on 19 January of four more call and put warrants over the Hang Seng Index expiring on 29 May 2017. 

 

More information about Vontobel’s warrants can be found here.

 

The details of the newly listed/upcoming Vontobel Warrants are listed in the table below.

 

Counter Name

Stock Code

Call/

Put

Expiry Date

Strike Level

Listing Date

Jan 2017 MTD Traded Value (S$)

HSI 22800 VT ECW170330

CDSW

C

30-Mar-17

22800

11-Jan-17

11,370,731.10

HSI 22000 VT EPW170330

CDUW

P

30-Mar-17

22000

11-Jan-17

3,539,258.00

HSI 21000 VT EPW170330

CDTW

P

30-Mar-17

21000

11-Jan-17

1,074,039.60

HSI 21600 VT ECW170330

CDRW

C

30-Mar-17

21600

11-Jan-17

1,015,494.00

HSI 22000 VT ECW170529

CDZW

C

29-May-17

22000

19-Jan-17

N/A

HSI 21400 VT EPW170529

CEBW

P

29-May-17

21400

19-Jan-17

N/A

HSI 22600 VT EPW170529

CECW

P

29-May-17

22600

19-Jan-17

N/A

HSI 23188 VT ECW170529

CEAW

C

29-May-17

23188

19-Jan-17

N/A

Source: SGX (data as of 17 January 2017)

 

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Hang Seng Index

 

The Hang Seng Index generated a 5% return in January month to date after ending off 2016 with a mere 0.4% return. Despite a good start to the new year, leading strategist are cautiously optimistic of a better year as headwinds will challenge property and retail stocks, two core sectors of the Hong Kong market. Nevertheless, the recent opening of the Shenzhen-Hong Kong Stock connect could provide a boost, given that some of the dual-listed stocks, including some large blue chip companies, are far cheaper in Hong Kong.

 

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Five Most Active Structured Index Warrants in Jan MTD

 

The five most active Index Warrants for January month to date were Structured Warrants of the Hang Seng Index. They comprised four Call and one Put Warrant, with a total turnover of S$362 million. The Hang Seng Index Call Warrant with an expiry date of 30 March 2017 and strike level of 23,800 was the most active index warrant in January month to date. It generated a trade value of S$103 million for the period.

 

Yesterday, this strike level was positioned 4.20% above the Hang Seng Index, which last closed at 22,840.97. The details of the five most active Index Warrants in January month to date are tabled below.

 

Counter Name

Stock Code

Call/

Put

Expiry Date

Strike Level

Jan 2017 MTD Traded Value (S$)

HSI 23800 MB ECW170330

CCFW

C

30-Mar-17

23800

102,812,308.50

HSI 22400 UB ECW170330

CARW

C

30-Mar-17

22400

101,935,773.90

HSI 23400 MB ECW170227

CCXW

C

27-Feb-17

23400

54,677,151.30

HSI 23600 UB ECW170427

CASW

C

27-Apr-17

23600

52,609,306.00

HSI 22000 MB EPW170227

CCYW

P

27-Feb-17

22000

49,870,241.10

Source: SGX (data as of 17 January 2017)

 

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Five Most Active Structured Stock Warrants in Jan MTD

 

The five most active Stock Warrants for January month to date were Call Warrants on Singapore’s banking stocks and Keppel Corporation, with a total turnover of more than S$9 million.

 

OCBC’s Call Warrant with a strike level of S$9.50 and expiry date on 2 October 2017 was the most active warrant. It generated a trade value of almost S$3.1 million in the period.

 

Yesterday, this strike price was positioned 1.6% above OCBC, which closed at S$9.35. The other three companies, UOB, DBS and Keppel Corporation closed at S$20.98, S$18.35 and S$6.04 respectively. The four stocks have generated an average total return of 4.5% in the month to date. 

 

The details of the five most active Stock Warrants in January month to date are listed in the table below.

 

Counter Name

Stock Code

Call/

Put

Expiry Date

Strike Level

Jan 2017 MTD Traded Value (S$)

OCBC BK MB ECW171002

CBHW

C

2-Oct-17

9.50

3,114,249.50

DBS MB ECW170710

CBJW

C

10-Jul-17

19.50

2,146,059.90

UOB MB ECW171101

CBRW

C

1-Nov-17

22.50

1,492,207.80

UOB MB ECW170703

CBFW

C

3-Jul-17

21.00

1,388,487.70

KEPCORP MB ECW170703

CCAW

C

3-Jul-17

6.50

1,222,289.70

Source: SGX (data as of 17 January 2017)

 

The full turnover breakdown for the Structured Warrants in January 2017 month to date are tabled below.

 

Counter Name

Stock Code

Call/

Put

Expiry Date

Strike Level

Jan 2017 MTD Traded Value (S$)

Hang Seng Index

 

 

 

 

607,382,553.4

HSI 23800 MB ECW170330

CCFW

C

30-Mar-17

23800

102,812,308.50

HSI 22400 UB ECW170330

CARW

C

30-Mar-17

22400

101,935,773.90

HSI 23400 MB ECW170227

CCXW

C

27-Feb-17

23400

54,677,151.30

HSI 23600 UB ECW170427

CASW

C

27-Apr-17

23600

52,609,306.00

HSI 22000 MB EPW170227

CCYW

P

27-Feb-17

22000

49,870,241.10

HSI 21200 MB EPW170227

CBZW

P

27-Feb-17

21200

36,122,157.00

HSI 22600 MB ECW170227

CBYW

C

27-Feb-17

22600

28,585,824.60

HSI 21600 MB EPW170330

CCGW

P

30-Mar-17

21600

20,519,837.40

HSI 20600 MB EPW170330

CCTW

P

30-Mar-17

20600

18,711,335.60

HSI 22200 MB ECW170126

CCQW

C

26-Jan-17

22200

17,065,247.70

HSI 23000 MB ECW170126

CAOW

C

26-Jan-17

23000

16,049,523.50

HSI 22400 MB EPW170330

CCHW

P

30-Mar-17

22400

15,586,013.90

HSI 23200 JP ECW170330

CDCW

C

30-Mar-17

23200

12,510,195.50

HSI 23000 MB ECW170330

CCEW

C

30-Mar-17

23000

11,577,983.50

HSI 22800 VT ECW170330

CDSW

C

30-Mar-17

22800

11,370,731.10

HSI 21400 MB EPW170126

CAQW

P

26-Jan-17

21400

10,267,244.00

HSI 20800 UB EPW170330

CAUW

P

30-Mar-17

20800

9,562,477.00

HSI 21800 MB ECW170227

CCWW

C

27-Feb-17

21800

8,107,845.30

HSI 24200 MB ECW170427

CCUW

C

27-Apr-17

24200

6,158,695.00

HSI 22200 MB ECW170330

CCSW

C

30-Mar-17

22200

5,445,589.60

HSI 22800 VT ECW170126

CAKW

C

26-Jan-17

22800

3,838,229.70

HSI 22000 VT EPW170330

CDUW

P

30-Mar-17

22000

3,539,258.00

HSI 21600 VT EPW170126

CALW

P

26-Jan-17

21600

2,735,640.00

HSI 22400 MB EPW170126

CAPW

P

26-Jan-17

22400

2,104,568.20

HSI 22600 VT EPW170126

BZRW

P

26-Jan-17

22600

1,587,788.40

HSI 24800 UB ECW170529

CATW

C

29-May-17

24800

1,494,260.00

HSI 21000 VT EPW170330

CDTW

P

30-Mar-17

21000

1,074,039.60

HSI 21600 VT ECW170330

CDRW

C

30-Mar-17

21600

1,015,494.00

HSI 20400 MB EPW170227

CCZW

P

27-Feb-17

20400

368,365.00

HSI 23800 MB ECW170126

CANW

C

26-Jan-17

23800

37,922.00

HSI 21200 MB EPW170427

CCVW

P

27-Apr-17

21200

27,697.00

HSI 20600 MB EPW170126

CCRW

P

26-Jan-17

20600

13,810.00

Hang Seng China Enterprise Index

 

 

 

 

8,479,255.00

HSCEI 10000 UB ECW170529

CAVW

C

29-May-17

10000

6,272,100.00

HSCEI 9400 UB EPW170126

BXWW

P

26-Jan-17

9400

2,207,155.00

OCBC Bank

 

 

 

 

4,110,272.50

OCBC BK MB ECW171002

CBHW

C

2-Oct-17

9.50

3,114,249.50

OCBC BK MB EPW171002

CBIW

P

2-Oct-17

8.40

680,103.30

OCBC BK MB ECW170306

BYPW

C

6-Mar-17

9.00

277,697.90

OCBC BK VT ECW170213

BXRW

C

13-Feb-17

8.68

22,889.10

OCBC BK MB ECW170118

BVXW

C

18-Jan-17

9.15

15,332.70

DBS Bank

 

 

 

 

3,610,582.80

DBS MB ECW170710

CBJW

C

10-Jul-17

19.50

2,146,059.90

DBS MB EPW170703

CBEW

P

3-Jul-17

16.50

957,034.20

DBS MB EPW170612

CAJW

P

12-Jun-17

15.50

275,547.90

DBS MB ECW170703

CBDW

C

3-Jul-17

18.00

129,376.00

DBS MB ECW171101

CBMW

C

1-Nov-17

20.00

38,417.00

DBS MB EPW171030

CBOW

P

30-Oct-17

16.80

36,407.80

DBS MB ECW170201

BWRW

C

1-Feb-17

15.50

13,900.00

DBS MB EPW170605

CABW

P

5-Jun-17

14.00

13,840.00

Nikkei 225

 

 

 

 

3,584,378.90

NIKKEI225 18000 MB EPW170609

CCMW

P

9-Jun-17

18000

1,897,327.30

NIKKEI225 21000 MB ECW170609

CCKW

C

9-Jun-17

21000

1,258,321.20

NIKKEI225 20000 MB EPW170609

CCPW

P

9-Jun-17

20000

257,394.50

NIKKEI225 19000 MB ECW170609

CCLW

C

9-Jun-17

19000

120,734.50

NIKKEI225 19500 MB ECW170310

BZHW

C

10-Mar-17

19500

29,776.60

NIKKEI225 17500 MB EPW170310

BZFW

P

10-Mar-17

17500

16,174.80

NIKKEI225 15500 MB EPW170310

BZDW

P

10-Mar-17

15500

2,630.00

NIKKEI225 14000 MB EPW170609

CCOW

P

9-Jun-17

14000

2,020.00

UOB

 

 

 

 

3,375,069.20

UOB MB ECW171101

CBRW

C

1-Nov-17

22.50

1,492,207.80

UOB MB ECW170703

CBFW

C

3-Jul-17

21.00

1,388,487.70

UOB MB EPW170703

CBGW

P

3-Jul-17

19.00

428,887.10

UOB MB ECW170605

BZYW

C

5-Jun-17

19.50

38,556.00

UOB MB EPW171002

CBQW

P

2-Oct-17

20.00

23,320.60

UOB MB ECW170201

BWTW

C

1-Feb-17

18.80

3,610.00

Keppel Corporation

 

 

 

 

2,250,355.20

KEPCORP MB ECW170703

CCAW

C

3-Jul-17

6.50

1,222,289.70

KEPCORP MB ECW170306

BYVW

C

6-Mar-17

6.00

559,650.40

KEPCORP MB EPW170703

CCBW

P

3-Jul-17

5.50

468,415.10

Straits Times Index

 

 

 

 

1,309,036.20

STI 2950 MB ECW170228

BYMW

C

28-Feb-17

2950

761,251.20

STI 2950 MB EPW170428

CBXW

P

28-Apr-17

2950

232,530.00

STI 3000 MB ECW170428

CBVW

C

28-Apr-17

3000

205,960.00

STI 2850 MB EPW170428

CBWW

P

28-Apr-17

2850

89,195.00

STI 2900 MB ECW170428

CBUW

C

28-Apr-17

2900

20,100.00

Singtel

 

 

 

 

811,679.00

SINGTEL MB EPW171002

CBBW

P

2-Oct-17

3.60

424,765.20

SINGTEL MB ECW171002

CBAW

C

2-Oct-17

3.90

266,633.10

SINGTEL MB ECW170602

BXNW

C

2-Jun-17

4.35

91,780.70

SINGTEL MB EPW170601

BWZW

P

1-Jun-17

4.10

28,500.00

Wilmar

 

 

 

 

737,918.90

WILMAR MB ECW170710

CCCW

C

10-Jul-17

3.80

400,315.80

WILMAR MB EPW170710

CCDW

P

10-Jul-17

3.40

226,640.90

WILMAR MB ECW170703

BYTW

C

3-Jul-17

3.40

86,065.60

WILMAR MB EPW170703

BYUW

P

3-Jul-17

3.05

24,896.60

CapitaLand

 

 

 

 

474,578.40

CAPITALAND MB ECW170703

CDNW

C

3-Jul-17

3.20

440,643.80

CAPITALAND MB EPW170703

CDOW

P

3-Jul-17

2.80

20,150.70

CAPITALAND MB EPW170403

BYQW

P

3-Apr-17

2.90

13,783.90

S&P500

 

 

 

 

14,863.00

S&P500 2200 MB EPW170616

CDIW

P

16-Jun-17

2200

9,600.00

S&P500 2030 MB EPW170317

CAYW

P

17-Mar-17

2030

2,480.00

S&P500 2130 MB EPW170317

CAZW

P

17-Mar-17

2130

2,285.00

S&P500 2000 MB EPW170915

CDGW

P

15-Sep-17

2000

498.00

Grand Total

 

 

 

 

636,140,542.5

Source: SGX (data as of 17 January 2017)

 

http://www.sgx.com/wps/wcm/connect/5adc91d5-49be-4a34-b4c8-421205b687e7/1/SGX%2BSW%2BWeb%2BBanner_300x250.jpg?MOD=AJPERES&CACHEID=5adc91d5-49be-4a34-b4c8-421205b687e7/1Specified Investment Products

Structured warrants are an example of Specified Investment Products (SIPs). The MAS has introduced measures for intermediaries to safeguard the interests of individual investors investing in SIPs, which are products with features that might be more complex in nature. Investors now have the opportunity to assess their qualifications to trade SIP or enhance their product knowledge through the SGX online portal available here.

 

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Structured Warrants Education Portal

 

Structured Warrants have a growing presence in Asia as an alternative for investors to participate in the performance of an underlying asset at a fraction of its price, in both bullish and bearish markets. Click here for educational videos covering the basics of trading structured warrants.

 

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