Covered warrant: Liquidity continued to increase

Over the past week, liquidity maintained its strong upward momentum and remained at elevated levels, indicating no signs of weakening capital inflows. However, the sharp increase in the number of put warrants reflected investors’ growing caution as the underlying market entered new highs. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVHM2515, CVIC2508, and CVPB2522 being the most notable examples. In contrast, CVHM2520, CVRE2521, and CVHM2519 were assessed to be overvalued, based on a total sample of 259 listed CWs.