Covered warrant: Cautious sentiment

The covered warrant market maintained robust liquidity during the week, suggesting that capital inflows remain active. However, the price performance was somewhat negative, as the majority of CWs posted declines – reflecting investor caution amid corrections in the underlying stock market. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVIC2507, CVIC2508, and CVRE2515 being the most notable examples. In contrast, CVHM2520, CVHM2521, and CVIC2514 were assessed to be overvalued, based on a total sample of 258 listed CWs.