Call Warrant updates as at February 2, 2007 (end of the day)

As noted in the earlier mid-day update, Call warrants have risen in line with the gain the underlying share price. Their prices have increased by an average of 8.77% from January 26 while the underlying share prices have gained 3.27% during the same period (see Table 1 below). The rise in CWs' prices is considered not exorbitant. This is reflected in the CWs' premium, which has declined from 10.53% to 9.53%.


Table 1: Changes in Call warrants' prices, underlying share prices & premium from Jan 26 to Feb 2

The usual CWs' valuation table is posted here for your easy reference. The cheap call warrants are highlighted in yellow while the 4 call warrants that will expire from February to April 2007 (i.e. BJToto-CA, Bursa-CA, IOI-CA & TM-CB) are highlighted in orange. You may notice that all the new call warrants listed this week, with the exception of Maxis-CC, are trading at a premium of around 10%. Maxis-CC on the other hand is only trading at a 4.58%. This may be attributable to the fact that the existing 2 call warrants of Maxis are trading at either a small premium or even at a discount.


Table 2: Call warrants' intrinsic value & premium as at Feb 2