E "crazy" and then put on a put Merchants Bank jumped 300%.

Editor's Note】 【<P> <EM> market participants believe that cancellation of the buying broker is to promote the China Merchants Bank yesterday, an important force in skyrocketing warrants. .</ EM> </ P> <P>: http:// hearing, when the China Merchants Bank put warrants (580997.SH) historical mission end when the warrant was for yesterday's record close to 300% of volume and .increase, once again staged warrants crazy. .SSE yesterday, three emergency suspension of its implementation. .</ P> <P> opened yesterday, the Shanghai Composite Index lower volatility, the put warrants were there to rise, which the CMB put right the largest increase. .After the opening bell at the 0.147 yuan, China Merchants Bank put warrants 11:15 impulse to 0.296, up 102%, the exchange time of its implementation of the first emergency suspension. .</ P> <P> afternoon after the opening bell, re-traded put option onto the CMB 0.4 yuan, or more than 170%. .In 13:55, the Exchange implemented a second emergency suspension. .But 15 minutes later, put warrants Merchants Bank rose more crazy, pulled heavy volume to 0.55 yuan, or up to 275%. .Increasing the risk of disk-based, Exchange in 14:40 of the third implementation of the emergency suspension. .</ P> <P> final CMB put warrants closed at 0.5 yuan, rose to 242% throughout the day, up to 18.7 billion turnover, turnover was 905.5%, on volume of 550 million hands. .The record trading volume put warrants listed China Merchants Bank since the record high. .The previous trading day, China Merchants Bank was once put warrants a new low of 0.116 yuan from being pulled late in the day up nearly 30%. .</ P> <P> market analysis, the crazy speculative funds and retail investors pulled actively follow up and become a key factor in yesterday's surge. .</ P> <P> According to statistics, since July 24 the future, there are many brokers put warrants cancellation of CMB, in particular, have three consecutive days this week, Guotai Junan, States Securities, Orient Securities for cancellation, cancellation number is close to 5 .million copies. .Last night, the SSE has issued a notice saying the Yangtze River yesterday, a total of seven brokerage and securities put warrants cancellation of Merchants Bank, the total number of 495 million copies. .</ P> <P> Although the CMB has not put the exercise value of the warrants, securities firms can not cancel the warrant, but at least until September 1 until the end of the exercise of the principal back, so off to reduce occupied by broker .cost, can be used to create other high-priced warrants, the investment income may be higher. .Accordingly, some market participants that the broker is buying off the line yesterday to promote the move an important force in skyrocketing warrants. .</ P> <P> fact, due to the creation of higher prices, brokers have earned the CMB, on warrants pours. .</ P> <P> information the warrant issued, the initial number of only 2.241 billion were issued, but after the creation of brokerage firms, and the current circulation of about 6.071 billion copies of the scale, an increase of 170.98%. .Most new warrants is after May 30 this year, the creation of the price range of 3 to 4 million. .If the average price of 3.5 yuan by the creation, to Aug. 14 closing price of 0.146 yuan terms, the total brokerage profits in the process approximately 128 million. .</ P> <P> brokerage stakeholders also said that when the put option price in the range of 0.1 to 0.15 yuan, the cancellation of relatively cost-effective, when prices reach 0.2 yuan, along with the exercise date approaches, the comparative rate of return and cancellation of .not high. .China Merchants Bank yesterday, near the release of warrants in the amount of days of 0.4 yuan, it may be speculation speculative funds, investors should pay attention to risks. .</ P> <P> Currently, China Merchants Bank put warrants from the last trading day (August 24) remaining seven trading days, while China Merchants Bank (600036.SH) shares are still more than 36 yuan, the warrants had no line .the right values. .</ P>.