Covered warrant: Liquidity increased again

During the past week, liquidity in the covered warrant market edged up slightly, while the number of advancing covered warrants continued to dominate. This development suggests that capital is cautiously returning to the market in a supportive manner, reflecting improved investor sentiment and more positive short-term expectations for price movements. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVRE2522, CMWG2519, and CMWG2523 being the most notable examples. In contrast, CVIC2517, CVIC2516, and CTCB2521 were assessed to be overvalued, based on a total sample of 325 listed CWs.