BIST Increasing EMNIS.E 4.07 10.00 % DARDL.E 12.1 10.00 % EGGUB.E 80.3 10.00 % FRIGO.E 16.3 9.99 % YONGA.E 27.36 9.97 % Decreasing GLRYH.E 9.06 -9.94 % RTALB.E 21.02 -9.94 % EKIZ.E 6.57 -9.88 % ULUUN.E 8.24 -7.21 % SELGD.E 3.2 -6.71 % VIOP Most Change O_XU030E0620P102.000 % 500,00 O_THYAOE1220C17.20 % -100,00 O_THYAOE1220C17.20 % -100,00 O_THYAOE1220C17.20 % -100,00 O_THYAOE1220C17.20 % -100,00 Highest Open Position F_XAUTRYM0620 1.139.944 F_USDTRY0620 522.575 F_XU0300620 497.612 F_EKGYO0620 360.286 F_GARAN0620 348.435



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.