Covered warrant: Liquidity hits new high again

The warrant market remained vibrant last week as liquidity continued to hit new highs, extending the multi-week uptrend. Additionally, the number of advancing warrants continued to dominate, reflecting sustained inflows and improving investor sentiment. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVHM2507, CVHM2508, and CVRE2507 being the most notable examples. In contrast, CMSN2516, CVHM2516, and CHPG2525 were assessed to be overvalued, based on a total sample of 235 listed CWs.