TW201701212A - Warrant analysis device and a analyzing method for warrant - Google Patents

Abstract

A warrant analysis device and an analyzing method for warrant are provided. The warrant analysis device is linked to a transaction processor and a requesting terminal for receiving warrant information outputted from the transaction processor and a requesting signal from the requesting terminal. The warrant analysis device includes an output-input unit and a central processing unit. The output-input unit receives the analysis information and the requesting terminal. The central processing unit executing a differential leverage ratio operation of the warrant information according to the requesting terminal for obtaining and outputting a differential leverage ratio. Then, arranging the warrant information according to value of the differential leverage ratio and marking the differential leverage ratio with the differential leverage ratio less than 0.3. Wherein, the differential leverage ratio operation is price differential ratio/real leverage.

Description

Warrant analysis device and warrant analysis method

The present invention relates to a warrant analysis apparatus, and more particularly to a warrant analysis apparatus and a warrant analysis method for providing a warrant for a better difference ratio for investors to refer to.

Warrants, also known as "warrants" or "warrants", whose English name is Warrant. In the securities market, Warrant refers to a financial derivative with an expiration date and strike price or other execution conditions. According to the American Stock Exchange, Warrant is an option to buy or sell a underlying asset at an agreed price and time.

A warrant is a securities issued by a issuing company of a underlying security or a third party other than a securities company, an investment bank, or the like. A warrant issued by a third party is also called a covered warrant or derivative warrant. The rights represented by the warrant include two options: the buy option (bullish) and the sell option (bearish) on the underlying asset. Therefore, the warrants are sometimes referred to in a broad sense (that is, including both the subscription warrant and the warrant), but more are just the warrants; in Hong Kong, they are often referred to as warrants.

The object of the present invention is to provide a warrant analysis apparatus and a warrant analysis method, which are related to the calculation of the difference and the ranking of the difference bar, and display the relevant information of the warrant to the investor for reference.

The invention provides a warrant analysis device, which is connected to the transaction processor and the requesting end, and receives the warrant data output by the transaction processor and the request signal output by the requesting end. The warrant analysis device includes an input/output unit and a central processing unit. The above input and output unit receives and outputs the warrant data and the request signal. The central processing unit performs the difference bar ratio operation on the warrant data according to the request signal to obtain and output the difference bar ratio, and sorts the warrant data according to the value of the difference bar ratio, and labels the warrant data with the difference bar ratio less than 0.3. Among them, the difference bar ratio operation is a ratio of difference / substantial leverage.

In the embodiment of the present invention, the price difference ratio is (the selling price - the bidding price) / the selling price.

In an embodiment of the invention, the substantial leverage is a Delta value x (stock price / warrant price) x exercise ratio.

In an embodiment of the present invention, the central processing unit performs a warrant interest rate calculation on the warrant data and outputs the warrant interest rate.

In an embodiment of the invention, the warrant rate is Theta value/warrant price x 365 x 100%.

The invention further provides a method for analyzing warrants, which is used on a warrant analysis device. The method for analyzing warrants includes receiving the warrant data and the request signal, and performing a difference bar ratio operation on the warrant data according to the request signal. Second, get and output the difference bar ratio. Then, the warrant data is sorted according to the value of the difference bar ratio, and the warrant data with the difference bar ratio less than 0.3 is marked. Among them, the difference bar ratio operation is a ratio of difference / substantial leverage.

100‧‧‧ warrant system

102‧‧‧Transaction side

104‧‧‧Transaction Processor

106‧‧ ‧ Warrant analysis device

108‧‧‧Request side

122‧‧‧Output unit

124‧‧‧Central Processing Unit

126‧‧‧ storage unit

128‧‧‧Display unit

202, 204, 302, 304‧‧‧ fields

402, 404, 406, 408, 502, 504‧‧‧ blocks

S602~S610‧‧‧Step procedure

BRIEF DESCRIPTION OF THE DRAWINGS Figure 1 is a block diagram of a warrant system in accordance with a preferred embodiment of the present invention.

Figure 2 is a schematic diagram of a warrant selection for a preferred embodiment of the present invention.

Figure 3A is a partial overview of a warrant material in accordance with a preferred embodiment of the present invention.

Figure 3B is a partial overview of another type of warrant material in accordance with a preferred embodiment of the present invention.

4A is a detailed diagram of a warrant material in accordance with a preferred embodiment of the present invention.

Figure 4B is a partial schematic diagram of a stock data of a preferred embodiment of the present invention.

FIG. 5A is a schematic diagram of a target stock trend according to a preferred embodiment of the present invention.

FIG. 5B is a schematic diagram showing the trend of stabilizing the stability of the wave according to a preferred embodiment of the present invention.

Figure 6 is a flow chart showing the steps of a method for analyzing warrants according to a preferred embodiment of the present invention.

Please refer to FIG. 1 , which is a block diagram of a warrant system in accordance with a preferred embodiment of the present invention. In the present invention, the ticket system 100 includes a transaction terminal 102, a transaction processor 104, a warrant analysis device 106, and a requesting terminal 108. The transaction terminal 102 and the transaction processor 104, the transaction processor 104 and the warrant analysis device 106, the warrant analysis device 106, and the requesting terminal 108 are connected through an internet network (which may be, for example, a wired network or a wireless network). . The request side 108 may not be configured in the ticket system 100, and the user directly operates and views from the ticket analysis device 106.

In the present invention, the transaction terminal 102 will send a transaction message to the transaction processor 104. Then, the transaction processor 104 will statistically process and process the transaction messages of the transaction terminals 102, and generate the warrant data for each of the warrants. The transaction processor 102 can be, for example, a transaction server for a warrant transaction, and the transaction terminal 102 can be, for example, a terminal computer used by an investor or a terminal computer of a securities firm, wherein, In the case of a terminal computer used by an investor personally, the terminal computer must also be connected to the broker's trading system before transmitting the transaction message.

The transaction processor 104 continuously calculates and calculates the transaction volume of each warrant from the opening, and calculates the transaction price (including the purchase price and the selling price), the purchase price and the sales price at each time point of the individual stock according to the transaction volume, Invented volume dealers and various warrants and so on. When the transaction processor 104 receives the data request signal sent by the ticket analysis device 106, the transaction data is transmitted to the ticket analysis device 106 according to the content of the data request signal (for example, the ticket code). For example, those skilled in the art can easily know that the transmission of the warrant data can be, for example, the warrant analysis device 106 actively requesting the transaction processor 104 to update the warrant data every predetermined period of time.

The ticket analysis device 106 includes an input/output unit 122, a central processing unit 124, a storage unit 126, and a display unit 128. The input and output unit 122 is connected to the transaction processor 104 and the requesting end 108 via the Internet, and receives and outputs the warrant data. The central processing unit 124 is electrically coupled to the input and output unit 122 and the storage unit 126, and stores the warrant data in the storage unit 126 when the warrant data is received. The display unit 128 is then operated to display the warrant data.

The requesting end 108 is coupled to the input/output unit 122 and is output by the user to output a request signal. Next, the input/output unit 122 transmits the request signal to the central processing unit 124. The central processing unit 124 reads the corresponding right certificate from the storage unit 126 according to the request signal. The material is subjected to the difference bar ratio operation to obtain and output the difference bar ratio, and the warrant data is sorted according to the value of the difference bar ratio, and the warrant data with the difference bar ratio less than 0.3 is marked. Among them, the difference bar ratio operation is a ratio of difference / substantial leverage.

In a preferred embodiment of the present invention, the price difference ratio is (the selling price - the bidding price) / the selling price, and the substantial leverage is the Delta value x (share price / warrant price) x exercise ratio. The exercise ratio refers to the number of shares of the unit that can be awarded for each unit of warrants, that is, the number of shares that can be purchased (sold) for each subscription (sale) warrant when the warrants are executed or expired.

In this embodiment, the central processing unit 124 also performs a warrant interest rate calculation on the warrant data and outputs the warrant interest rate. Among them, the warrant interest rate is Theta value / warrant price × 365 × 100%.

Please refer to FIG. 2, which is a schematic diagram of a warrant selection according to a preferred embodiment of the present invention. Figure 3 is a diagram showing an overview of warrant information in accordance with a preferred embodiment of the present invention. Figure 6 is a flow chart showing the steps of a warrant analysis method in accordance with a preferred embodiment of the present invention. In the present embodiment, the warrant analysis device 106 receives and stores the warrant data from the transaction processor 104 and receives the request signal from the requesting end 108 via the input/output unit 122. In the second figure, a field 202 is configured, wherein the user can select the stock to be queried first in the field 202, and then select the ticket code to be queried in the field 204 (step S602), but not limited thereto.

Next, after receiving the ticket code, the warrant analysis device 106 performs a difference bar ratio operation on the ticket data (step S604), and obtains a difference bar ratio (step S606), and sorts the warrant data according to the value of the difference bar ratio, and The warrant data having a difference bar ratio of less than 0.3 is marked (step S608).

For continued reference to Figures 3A and 3B, which are a partial overview of the warrants. When displayed, the 3A and 3B maps are combined for display. The documents such as the warrant data, the difference bar ratio, and the warrant interest rate outputted by the warrant analysis device 106 are as shown in Figs. 3A and 3B. its In the field 302, the data on the field 302 includes the code name, name, purchase price, selling price, buying amount, selling amount, transaction, price ratio, total amount, external ratio, difference ratio, leverage, days, and fields of the volume supplier. The information on 304 includes price inside and outside, buy hidden wave, circulation ratio, Theta, interest rate, premium ratio, exercise ratio, negotiated price and order. From the data of the difference bar ratio, the ratios of the bars are arranged in order from small to large, and are marked with different colors, for example.

In the preferred embodiment of the present invention, for example, only the volume information of the difference bar ratio of less than 0.3 may be listed, but not limited thereto.

The warrant codes on fields 302 and 304 will list each of the margins corresponding to the warrant code, and display various information of the volume dealer (as listed in fields 302 and 304). In the present embodiment, the difference bar ratio is calculated as the price difference ratio/substantial leverage, and the price difference ratio is (the selling price - the bidding price) / the selling price, and the substantial leverage is the Delta value × (the stock price / the warrant price) × exercise proportion. Where Delta is the ratio of the change in the warrant price when the spot price of the underlying stock changes, that is, the delta value = the amount of change in the stock price of the warrant price.

Next, the central processing unit 124 in the warrant analysis device 106 performs a warrant interest rate calculation on the warrant data and outputs the ticket interest rate (step S610). Among them, the warrant interest rate is Theta value / warrant price × 365 × 100%, because the price of each warrant is not the same, so the THETA value is not the same. In terms of the interest rate of THETA, usually the longer the day, the lower the interest rate, the shorter the day, the higher the interest rate, the higher the interest rate, the higher the interest rate, and the lower the interest rate.

In a preferred embodiment of the invention, the Theta value is the time value to be paid for the purchase of a warrant, and the smaller the Theta value (closer to 0), the better.

In a preferred embodiment of the invention, the circulation ratio = circulation of warrants issued by the foreign warrants/issuers.

In a preferred embodiment of the invention, the external ratio = (outer disk volume - inner disk volume) / total volume.

In a preferred embodiment of the invention, the premium ratio is such that at the expiration date, the stock will rise by a few percent and the warrant will be returned.

Please refer to FIG. 4A and FIG. 4B, which are schematic diagrams showing a part of the details of the warrant data and the stock data of the preferred embodiment of the present invention. When the user selects the first warrant code 075632 (LJ Yadong) in Figure 3A, the details of the warrants in Figure 4A and Figure 4B will appear. Between blocks 402 and 404 are the five-details of the warrants and the details of the warrants. Between 406 and 408 are the five stocks of the underlying stock and the details of the stocks. Among them, the five-details of the warrants can also be combined with the total purchase volume and the total sales volume. The warrants transaction details list the transaction time, purchase price, selling price, transaction price, quantity and total amount. The five stocks of the underlying stock can also be combined with the total purchase volume and the total sales volume. The underlying stock transaction details specify the transaction time, purchase price, selling price, transaction price, quantity and total amount.

Continuing to refer to Figures 5A and 5B, which are diagrams showing the trend of a stock trend and the stability of the bidding stability of the preferred embodiment of the present invention. In block 502, the underlying stock price chart is drawn, and in block 504, the hidden wave stability is shown. Among them, under the conditions of the same strike price, exercise ratio and maturity date, the higher the hidden wave rate, the more expensive the warrant, and the lower the hidden wave rate, the cheaper the warrant.

In summary, the warrant analysis device of the present invention displays the relevant information of the warrants to the investor for reference by increasing the calculation and sorting of the difference bar ratio.

100‧‧‧ warrant system

102‧‧‧Transaction side

104‧‧‧Transaction Processor

106‧‧ ‧ Warrant analysis device

108‧‧‧Request side

122‧‧‧Output unit

124‧‧‧Central Processing Unit

126‧‧‧ storage unit

128‧‧‧Display unit

Claims (10)

A warrant analysis device is connected to a transaction processor and a requesting end, and receives at least one warrant data output by the transaction processor and one request signal output by the requesting end, the warrant analysis device comprises: an input/output unit Connected to the transaction processor and the requesting end via an internet for receiving and outputting the warrant data and the request signal; and a central processing unit electrically coupled to the input and output unit, and Performing a difference bar ratio operation on the warrant data according to the request signal, to obtain and output a difference bar ratio, and sorting the warrant data according to the value of the difference bar ratio, and the warrant data having the difference bar ratio less than 0.3 It is marked; wherein the difference ratio is calculated as a price difference ratio / a substantial leverage. The warrant analysis apparatus according to claim 1, wherein the price difference ratio is (the selling price - the bidding price) / the selling price. The warrant analysis device of claim 1, wherein the substantial leverage is a Delta value x (share price/warrant price) x exercise ratio. The warrant analysis device of claim 3, wherein the central processing unit performs a warrant interest rate calculation on the warrant data and outputs a warrant interest rate. The warrant analysis apparatus according to claim 3, wherein the ticket interest rate is the Theta value/warrant price x 365×100%. A method for analyzing warrants is applied to a warrant analysis device, and the method for analyzing warrants includes: receiving at least one warrant data and a request signal; and performing a difference bar ratio operation on the warrant data according to the request signal; Obtaining and outputting a difference bar ratio; and sorting the warrant data according to the value of the difference bar ratio, and labeling the warrant data with a difference bar ratio less than 0.3; wherein the difference bar ratio operation is a ratio of one price difference/one Substantial leverage. The method for analyzing warrants according to claim 6, wherein the price difference ratio is (the selling price - the bidding price) / the selling price. The warrant analysis method according to claim 6, wherein the substantial leverage is a Delta value x (share price/warrant price) x exercise ratio. The method for analyzing warrants according to claim 6 further includes performing a warrant interest rate calculation on the warrant data and outputting a warrant interest rate. The warrant analysis method according to claim 7, wherein the warrant interest rate is the Theta value/warrant price x 365×100%.