✔ 最佳答案
引伸波幅水平本身卻是一個主觀参數可由發行商自行厘定, 可以任其聲稱的主觀預期來調整, 偏高偏低時亦不會干預, 合理與否也不作監管. 在這樣的機制下, 可任由輪商决定的引伸波幅就可決定權証的理論值, 理論值下跌時輪價就應下跌, 在其他影響理輪值的因素不變的情况下, 引伸波幅就成為輪商的尚方寶劍, 在與散户對賭時,能以冠冕堂皇的名義把其操控輪價的過程變成理論值的調整.
I lost much money in this warrant game. My conclusion is "YOU CAN NEVER WIN THE ISSUERS", just because of the tool "引伸波幅". It is a black box machine which you have no idea on how the numbers are fixed and no control of its outcome.
Now when I have spare money, I will rather to spend it on IPO lucky draw, or go to Macus for a wonderful night which is more direct and controlable.