Covered warrant: Liquidity hit a record high

Over the past week, market liquidity continued to surge, setting a new peak. Additionally, the dominance of rising covered warrants reflects investor optimism toward the underlying market’s upward potential. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVRE2505, CSTB2508, and CVRE2507 being the most notable examples. In contrast, CVHM2518, CVHM2512, and CTCB2512 were assessed to be overvalued, based on a total sample of 246 listed CWs.