Covered warrant: Liquidity continues to rise

The covered warrant market continued its positive momentum last week as liquidity extended its upward trend, indicating a strong return of capital inflows. At the same time, the number of rising warrants outpaced decliners, reflecting investor optimism and a notable improvement in market buying power. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVIC2507, CVHM2515, and CVRE2515. being the most notable examples. In contrast, CVHM2521, CVHM2520, and CSHB2511 were assessed to be overvalued, based on a total sample of 278 listed CWs.