In the money call warrants (Week 28)

I`ve not written about warrants for 10 weeks since my last post in April . I am not particularly comfortable with where the market is heading and to me, having integrity and being ethical is of utmost importance. This is the reason why I have not sold my research reports yet to subscribers.

Nevertheless, I have compiled a list of call warrants that are in the money this week.

No	Call Warrant	Discount rate (%)
1	Berjaya Auto CD	3.57
2	Berjaya Food WA	1.52
3	Borneo Oil WB	2.26
4	Cahya Mata Sarawak CI	5.77
5	Cliq Energy WA	9.09
6	Managepay Systems WA	7.02
7	MISC CV	5.17
8	N2N Connect WA	7.01
9	Westports CJ	7.91

Note that the N2N WA is an American styled call warrant which means it can be converted on any date up to expiry. The trading idea is to buy the warrant, convert to the money share and either collect the difference between acquisition cost and market value or hold it for more capital gains. 

In the money call warrants (Week 18)

As part of my once a month free analysis of in the money call warrants, here is the list of call warrants trading at a discount:

No	Call warrant	Discount rate (%)
1	Cliq WA	5.3
2	Crest Builder WB	4.2
3	IHH CV	7.6
4	Malaysian Building Society WA	4.8
5	Maxco CM	2.5
6	N2N WA *	4.8
7	Maybulk CT	4.1
8	Sunway C4	8
9	Thong Guan WA	7.3
10	YTL CM	6.1

Note that the N2N WA is an American styled call warrant which means it can be converted on any date up to expiry. The trading idea is to buy the warrant, convert to the money share and either collect the difference between acquisition cost and market value or hold it for more capital gains. 

Cliq is artificially pushed down

Both the mother share and WA call warrant have been pushed down, exactly at 4.50.00 pm. Why this particular timing is significant is that after 4.50.00 pm, traders can only buy or sell at the last done price. Obviously none of the current warrant holders would sell their in the money warrants at this price.

Notice how precise the timing was to push down the mother share.

The same can be seen in the WA call warrant.

Since it was done precisely at 4.50.00 pm, buyers could not offer more than RM 0.125 while sellers will not release their warrants at this price.

Genting C20 is trading at a discount of 4.7%

Genting C20 is in the money but is has been stubborn to match. It has not moved all day up to now. 

The mother share has fallen by 10 cents but the C20 call warrant has not moved yet. Usually, a movement in the price of the mother share would trigger an even more drastic change in its warrant/s percentage wise.

Here is a snapshot of the term sheet. 

As of this post, the C20 call warrant is trading at a discount of 4.7%. 

Hovid WB is still trading at a discount

This is a follow up to my post on Hovid on March 30th. The WB call warrant has since appreciated by 17.6% while the mother share is up by 12.5%.

The strike price for this warrant is RM 0.18 with an exercise ratio of 1:1, making being priced at a discount of 3%.

More gains for Cliq WA

Following my post yesterday on this particular call warrant, it went up again today.

When the mother share appreciates...

Cliq appreciated by the slighted bit today

And since a warrant is related to its mother share, guess what? The WA call warrant jumped by 8.33% today.

This appreciated was much expected based on my analysis on Monday for my group members before trading started.