BIST Increasing ISBTR.E 6359.8 20.00 % CMENT.E 19.82 19.98 % IHEVA.E 0.99 19.28 % MERKO.E 0.73 10.61 % SERVE.E 2.47 7.86 % Decreasing TUCLK.E 2.17 -19.93 % PINSU.E 1.31 -9.66 % DAGHL.E 1.81 -8.12 % IZTAR.E 4.56 -7.13 % TACTR.E 3.73 -6.52 % VIOP Most Change O_ARCLKE0519P22.60 % -100,00 O_ARCLKE0519P22.60 % -100,00 O_ARCLKE0519P22.60 % -100,00 O_ARCLKE0519P22.60 % -100,00 O_ARCLKE0519P22.60 % -100,00 Highest Open Position F_USDTRY0419 1.515.675 F_USDTRY0619 1.132.123 F_USDTRY0819 691.643 F_XU0300419 408.117 F_XAUTRYM0419 286.534

FACTORS INFLUENCING THE WARRANT PRICE


Price of the Underlying Asset

There is a positive correlation between the price of the underlying instrument and a call warrant, while this correlation is negative in the case of put warrants. As the price of the underlying asset increases, the price of call warrants increases and the price of put warrants decreases.

Exercise Price

There is a negative correlation between the exercise price of a warrant and call warrants, while this correlation is positive in the case of put warrants. As the exercise price increases, the price of call warrants decreases and that of put warrants increases.

Days to Maturity

There is a positive correlation between the days to maturity and both call and put warrants. As the days to maturity increase, the price of both call and put warrants increases.

Volatility

There is a positive correlation between the volatility of the underlying asset and both call and put warrants. As the volatility of the underlying asset increases, the price of both call and put warrants increases.

Market Interest Rate

There is a positive correlation between the interest rate and call warrants, while this correlation is negative in the case of put warrants. As the interest rate increases, the price of call warrants increases and that of put warrants decreases.

Dividend

There is a negative correlation between the dividend distributed by the company on whose equities the warrant is written and the price of call warrants, while this correlation is positive in the case of put warrants. As dividends increase, the price of call warrants decreases and that of put warrants increases.

Factors Influencing the Warrant Price


Warrant Price (CALL)            Warrant Price(PUT)
Price of underlying asset

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Exercise price

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Days to maturity

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Volatility

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Market interest rate

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Dividend

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