I. MARKET TRENDS IN WARRANTS
By the close of trading on October 9, 2025, the market saw 158 gainers, 84 decliners, and 36 unchanged securities.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the October 9, 2025 session, buyers maintained control, driving prices higher for most warrant codes. Notable gainers included CVHM2502, CVPB2513, CVIC2509, and CSTB2515.
Source: VietstockFinance
Total market volume on October 9 reached 57.69 million CW, up 1.42%; trading value hit 156.68 billion VND, a 0.99% increase from October 8. CVRE2513 led in both volume and value, with 4.73 million CW traded, totaling 20.53 billion VND.
Foreign investors resumed net selling on October 9, totaling 3.06 million CW. CHPG2526 and CHPG2515 saw the highest net outflows.
Securities firms SSI, ACBS, KIS, HCM, and VPBankS currently issue the most warrants in the market.
Source: VietstockFinance
II. MARKET STATISTICS
Source: VietstockFinance
III. WARRANT VALUATION
Using a valuation method effective from October 10, 2025, the fair prices of traded warrants are as follows:
Source: VietstockFinance
Note: Opportunity costs in the valuation model are adjusted for the Vietnamese market. Specifically, the risk-free rate (government treasury bills) is replaced by the average deposit rate of major banks, adjusted for warrant maturity.
According to this valuation, CVIC2507 and CVHM2515 are the most attractively priced warrants.
Warrants with higher effective gearing exhibit greater volatility relative to their underlying securities. Currently, CVNM2512 and CVNM2502 have the highest effective gearing in the market.
Economic Analysis & Market Strategy Division, Vietstock Consulting Department
– 18:58 October 9, 2025
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At the close of trading on October 8, 2025, the market saw 172 stocks rise, 54 decline, and 52 remain unchanged. Foreign investors returned to net buying, with a total net purchase of 98,300 CW.
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October 8, 2025: Banking Warrant Market Plunges into the Red
At the close of trading on October 7, 2025, the market saw 88 stocks rise, 150 decline, and 44 remain unchanged. Foreign investors resumed net selling, with a total net sell-off of 177,300 CW.
October 7, 2025: Warrant Market Rallies Alongside Underlying Market
At the close of trading on October 6, 2025, the market saw 230 stocks rise, 22 decline, and 30 remain unchanged. Foreign investors returned to net buying, with a total net purchase of 113,700 CW.
