關於牛熊証cbbc 的公式, 請高手

好簡單!

將現價(nominal)減去行駛價(strike), 再除返個轉換比率(exchange ratio)。
例如:
(用返6476 11/26 收市價)

HSI 11/26 close:27626
strike of 6476: 25000
exchange ratio: 1:6000

(27626-25000)/6000= 0.4376

You may ask, why is it 0.4376 but not 0.55, because someone is willing to buy with a higher price. The difference between the real value and nominal
is call premium(溢價).

In this case, the premium is:

(0.55-0.4376)/0.4376= About 26%, which is a little bit too high. You should buy some warrant(認購證) between 0% to 15% and with a large volume(成交量). These informations can be find in: http://hk.finance.yahoo.com/warrant/advsearch.php

If the warrant is expired, the money give back to you is ((nominal-strike)/exchange ratio)X#of warrant you hold. If the nominal is below your strike when it is expire, you get nothing! So choose a good warrant with good volume and good premium is very important.