Covered warrant: Liquidity rebounded
During the week, covered warrant trading activity saw an uptick in liquidity. However, the majority of warrants posted price declines, indicating cautious market sentiment. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVIB2507, CVPB2506, and CVHM2506 being the most notable examples. In contrast, CVHM2512, CVIC2506, and CVIC2509 were assessed to be overvalued, based on a total sample of 246 listed CWs.
Featured Analysis
Jan 2026: The lowest issuances
PHR – Brief – [NONRATED] – NP slides on weak IP and no VSIP III payment
Banking – Note – [NEUTRAL] – On target
Derivatives: Declining liquidity
Market commentary: Sustained demand
Derivatives: Reversal signal?
Market commentary: Broad-based gains
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26/01/2026
Covered warrant: Cautious sentiment
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