Covered warrant: Negative developments

The warrant market showed less positive momentum during the week, as declining liquidity and a predominance of falling warrants reflected cautious investor sentiment, implying that short-term risks remain present in the underlying market. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVIC2509, CVIC2514, and CVJC2505 being the most notable examples. In contrast, CTCB2521, CVIC2516, and CMWG2525 were assessed to be overvalued, based on a total sample of 259 listed CWs.