Covered warrant: Cautious sentiment

The covered warrant market continued to reflect cautious sentiment last week, as the number of declining warrants remained dominant despite a modest improvement in liquidity. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVRE2515, CVHM2515, and CVJC2505 being the most notable examples. In contrast, CTCB2521, CVIC2516, and CVIC2515 were assessed to be overvalued, based on a total sample of 288 listed CWs.