I. MARKET DEVELOPMENT OF WARRANTS
As of the market close on August 6, 2025, there were 184 advancing stocks, 38 declining stocks, and 24 unchanged stocks.
Market breadth over the last 20 sessions. Unit: Percentage
Source: VietstockFinance
In the trading session on August 6, 2025, buyers continued to lead the market, causing most of the warrants to increase in price. Specifically, the large warrants in the group that increased in price were CVIC2502, CVHM2502, CSTB2515, and CMBB2511.
Source: VietstockFinance
The total market volume in the August 6 session reached 73.32 million CW, a decrease of 42.01%; the trading value reached VND 164.37 billion, a decrease of 42.27% compared to the previous session. Of which, CVNM2512 was the market leader in volume with 3.31 million CW; CTCB2503 led in trading value with VND 10.91 billion.
Foreigners returned to net buying in the August 6 session with a total net buy of 1.17 million CW. In particular, CFPT2518 and CHPG2512 were the two codes that were most net bought.
Securities companies SSI, ACBS, HCM, KIS, and VPBank are currently the organizations with the most issued warrant codes in the market.
Source: VietstockFinance
II. MARKET STATISTICS
Source: VietstockFinance
III. WARRANT VALUATION
Based on the valuation method suitable for the beginning of the period, August 7, 2025, the reasonable prices of the warrants being traded in the market are as follows:
Source: VietstockFinance
Note: The opportunity cost in the valuation model is adjusted to suit the Vietnamese market. Specifically, the risk-free bill interest rate (government bills) will be replaced by the average deposit interest rate of large banks with term adjustments suitable for each type of warrant.
According to the above valuation, CVHM2409 and CVIC2502 are currently the two warrant codes with the most attractive valuations.
The higher the effective gearing ratio of the warrant codes, the greater the increase/decrease in price relative to the underlying stock. Currently, CVNM2512 and CMWG2407 are the two warrant codes with the highest effective gearing ratios in the market.
Economics & Market Strategy Analysis Department, Vietstock Consulting Department
– 18:58 08/06/2025
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