BIST Increasing HATEK.E 11.78 16.40 % OYAYO.E 2.94 14.84 % RALYH.E 9.38 12.47 % ALGYO.E 19.85 12.40 % TLMAN.E 12.72 10.51 % Decreasing BASCM.E 3.06 -9.73 % POLTK.E 67.85 -8.56 % YBTAS.E 5449.9 -5.87 % TSPOR.E 6.04 -5.77 % BJKAS.E 2.76 -5.48 % VIOP Most Change O_USDTRYKE0220P5950 % 2700,00 O_THYAOE0220P13.60 % 131,82 O_HALKBE1220P8.70 % -100,00 O_HALKBE1220P8.70 % -100,00 O_HALKBE1220P8.70 % -100,00 Highest Open Position F_XAUTRYM0220 567.837 F_XAUTRYM0420 400.134 F_USDTRY0220 308.093 F_EKGYO0320 304.511 F_TSKB0320 292.833



Just like options, warrants offer their holders the opportunity to gain exposure to the price fluctuations of the underlying asset, without owning such asset.

Warrants are financial instruments, which, like options, entitle their holder to buy or sell a certain amount of underlying asset or indicator, at a pre-determined price, on or before the expiry date.

Neither warrants nor options provide any control over the underlying asset until exercised. Both represent a right.


- Options are contracts, whereas warrants are securities.
- Options are traded according to the principles of a futures market, whereas warrants are traded according to the principles of a spot (cash) market.
- Options are standardized contracts, the features of which are determined by the equity exchanges where they are traded. Unlike options, the terms of warrants are set by the issuer and are more flexible than options (for example, warrants have no fixed expiry).
- With options, the selling party writes the option. For each warrant, on the other hand, there is a single issuer. The issuer is solely responsible for the right presented by warrants.
- Unlike options, there are no margin calls or margining associated with warrants since the issuer is entirely responsible for the product. Therefore, no margin calls or margining is necessary in trading warrants.