| Underlying | Terms of the most actively traded warrants: | GS Product | Product Feature | |||||
|---|---|---|---|---|---|---|---|---|
| Spot
Price |
Change | Strike | Maturity | Gearing Range |
Total Turnover of This Warrant Term |
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投資者選擇窩輪的過程中普遍傾向成交活躍的產品，此迷思背後的成因很多，不妨可參閱認股證網站的教學文章△。不過，投資者買賣窩輪一般均希望利用產品的「槓桿效應」達至以小搏大的效果。即使投資者關注成交額活躍的產品並認為條款合理，這些產品普遍並非槓桿最佳的選擇，因此不能單靠成交額篩選產品。
現時窩輪市場上，尤其以藍籌股騰訊、匯豐、中移動等，類近條款＊往往有多於一隻產品選擇，當中價格及槓桿可以大有不同，投資者值得留意比較並盡用市場產品深度，選擇類近條款＊中槓桿較突出、價格較相宜的產品。
有見及此，高盛認股證網站推出「熱門條款窩輪比較」工具，不單為方便投資者挑選產品，更旨在發揮市場數據的最大作用。篩選過程是先按窩輪的相關資產、行使價和到期日歸納成不同組別的條款，然後將比較範圍集中在成交活躍，較多投資者留意的熱門條款之中，再進一步在該類條款的窩輪中篩選出槓桿較突出及較值得留意的產品。
舉例說明，於7月13日，成交最活躍的中移動認購證條款，行使價為86.68元，到期日為今年12月初。此條款的產品市場上共有5隻，當中一隻認購證16738的槓桿方為最高。此工具的優點在於投資者既可留意熱門的產品條款，同時不會忽略了槓桿更佳的產品選擇。
＊類近條款的定義是產品之到期日相差五個交易日或以內，以及行使價相差少於0.5%(指數)或一個買賣價位(個股)
△高盛認股證網站教學文章：http://www.gswarrants.com.hk/cgi/tutorial/education.cgi
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In the event of an error or failure of a System, as your sole and exclusive remedy and in lieu of any other remedy hereunder at Goldman Sachs’ option, Goldman Sachs may elect to provide an error correction, bug fix, or replacement of the System, but any such error correction, bug fix, or replacement shall be provided under the same terms and conditions set forth under these terms and conditions, this Agreement including the warranty disclaimers and limitations of liability.
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Where such commentary or information reference the research report of Goldman Sachs Group, they have been prepared by personnel in the Sales and Trading Departments of Goldman Sachs Group and not by Goldman Sachs Group’s Research Department and therefore, has not been prepared in accordance with legal requirements to promote the independence of research, including but not limited to, the prohibition on the dealing ahead of the dissemination of investment research. Commentary and Information on this website do not constitute a research report and is not intended as such.
Unless otherwise specifically stated, any views or opinions expressed herein are solely those of the individual author and/or the specific Sales and Trading area from which it originates and may differ from the views or opinions expressed by other areas of Goldman Sachs Group, including the Research Department.
This website (including any commentary and information) is not and is not intended to be, a “research report”, “investment research” or “independent research” as may be defined in applicable laws and regulations worldwide.
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If you wish, you may also have a copy of the personal data held in relation to you. We may, as allowed by law, charge you a fee for this. Please read our privacy policy to understand how your personal information will be treated when you use this Website.
No representations about other websites or hyperlinks: This Service may provide hyperlinks to certain websites sponsored or maintained by third parties ("Such Websites"). Goldman Sachs provides these hyperlinks only for your convenience. Therefore, Goldman Sachs makes no representations about the content of Such Websites. The hyperlinks to Such Websites provided by Goldman Sachs do not constitute Goldman Sachs’ endorsement, authorization, sponsorship, or alliance with Goldman Sachs in respect of Such Websites, their owners or their providers. Goldman Sachs does not perform testing on any of the information, software or product mentioned on any of these websites and therefore does not make any representation about the above, including the content or sponsors of these websites, or the suitability or appropriateness of the products or transactions mentioned therein. Goldman Sachs (Asia) LLC is licensed and monitored by the Securities and Futures Commission: Goldman Sachs (Asia) LLC (CE no.ACC536) is licensed and monitored by the Securities and Futures Commission of Hong Kong ("SFC"). The content of this Website has not been approved by the SFC and cannot be relied upon for its own sake.
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All personal data provided by you through this Website will be kept confidential, but Goldman Sachs (Asia) Limited and its subsidiaries ("Goldman Sachs") may provide such information to the following parties for the purposes stated in the section of "Possible Uses of Personal Data" (whether in or outside the Hong Kong Special Administrative Region):
Goldman Sachs expressly requires all members of Goldman Sachs Group, staff and third parties who are permitted to use your personal data to comply with confidentiality obligations from Goldman Sachs. For the purposes set out below in the section "Possible Uses of Personal Data", your personal data will be processed, stored and transferred or disclosed in any country (whether in or outside the Hong Kong Special Administrative Region) that Goldman Sachs or any user considers appropriate. The information may also be provided or disclosed in accordance with the applicable data protection laws in the relevant country.
Your personal data may be used for the following purposes:
Any personal data you provide through this Website will only be used for the services you wish to apply for and will not be used for purposes that you do not consent to.
(1)Company members of Goldman Sachs Group;
(2)Third-party financial institutions, underwriters, credit card companies, securities and investment service providers;
(3)Third-party rewards, customers or members, co-brands or special offers plan providers;
(4)the brand partners of the company members of Goldman Sachs Group (the names of the brand partners will be set out on the application form of those services and products); and
(5)Charitable or non-profit organizations.
Under the terms of the Ordinance, Goldman Sachs has the right to charge a reasonable fee for processing any request for access to personal data.
Goldman Sachs may send cookies to your computer. Cookies are strings of information that are sent out by a website and saved in your computer. We may use session specific cookies and "web bugs" to automatically collect data about website usage when you visit this Site, including your IP address, "click-stream" data regarding the portions of this Website that you visit and the information or other services you obtain or input (including domain name, Internet service provider, protocol, browser type, operating system etc.). You acknowledge that you have been informed of this practice and authorise Goldman Sachs to use any information collected through our use of cookies in connection with the section "Possible Use of Personal Data”. You may deactivate the cookies in the settings of your navigation software.Cookies store a small amount of information when you visit a website. This information is provided by your computer when you first visited the web server. The server records this data in text file, and the text file will be stored on your hard drive. If you browse the same website again, the server will look for the relevant cookies and combine itself based on the information obtained. Cookies only allow the web server to identify the computer you use to view this Website without identifying individual users. Many browsers are initially set to accept cookies. You may reset your browser to refuse all cookies or warn you before accepting cookies. If you have set your browser to warn you before accepting cookies, you will receive a warning message with each cookie. You can refuse cookies by turning them off in your browser. Goldman Sachs generally uses cookies to help us improve our service to you the next time you visit Goldman Sachs website.
Goldman Sachs hopes to protect the quality and completeness of your personal identification data. After Goldman Sachs receives the information from you, it will dedicate its best effort to ensure the security of the data in Goldman Sachs' system. Goldman Sachs implements a strict security system to prevent anyone (including Goldman Sachs staff) from obtaining your personal data without authorization.
This Website contains hyperlinks to other websites that are not operated or monitored by Goldman Sachs and Goldman Sachs will not be liable for the privacy policy or content of such websites. Goldman Sachs recommends that you read the privacy policy of these websites carefully and understand how these websites protect your personal data and whether the related measures are safe and reliable.
If you subscribe to the Goldman Sachs Warrant/CBBC Market Information Update (including Goldman Sachs Daily Commentary / Intraday Highlight Commentary etc), and press the "I Accept"button on the website, it means that you accept and agree to the content of this Privacy Statement. As the Goldman Sachs Warrant/CBBC Market Information Update may contain direct marketing message, if you do not accept the content of this Privacy Statement, you will not receive Goldman Sachs Warrant/CBBC Market Information Update.
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All personal data provided by you through this Website will be kept confidential, but Goldman Sachs (Asia) Limited and its subsidiaries ("Goldman Sachs") may provide such information to the following parties for the purposes stated in the section of "Possible Uses of Personal Data" (whether in or outside the Hong Kong Special Administrative Region):
Goldman Sachs expressly requires all members of Goldman Sachs Group, staff and third parties who are permitted to use your personal data to comply with confidentiality obligations from Goldman Sachs. For the purposes set out below in the section "Possible Uses of Personal Data", your personal data will be processed, stored and transferred or disclosed in any country (whether in or outside the Hong Kong Special Administrative Region) that Goldman Sachs or any user considers appropriate. The information may also be provided or disclosed in accordance with the applicable data protection laws in the relevant country.
Your personal data may be used for the following purposes:
Any personal data you provide through this Website will only be used for the services you wish to apply for and will not be used for purposes that you do not consent to.
(1)Company members of Goldman Sachs Group;
(2)Third-party financial institutions, underwriters, credit card companies, securities and investment service providers;
(3)Third-party rewards, customers or members, co-brands or special offers plan providers;
(4)the brand partners of the company members of Goldman Sachs Group (the names of the brand partners will be set out on the application form of those services and products); and
(5)Charitable or non-profit organizations.
Under the terms of the Ordinance, Goldman Sachs has the right to charge a reasonable fee for processing any request for access to personal data.
Goldman Sachs may send cookies to your computer. Cookies are strings of information that are sent out by a website and saved in your computer. We may use session specific cookies and "web bugs" to automatically collect data about website usage when you visit this Site, including your IP address, "click-stream" data regarding the portions of this Website that you visit and the information or other services you obtain or input (including domain name, Internet service provider, protocol, browser type, operating system etc.). You acknowledge that you have been informed of this practice and authorise Goldman Sachs to use any information collected through our use of cookies in connection with the section "Possible Use of Personal Data”. You may deactivate the cookies in the settings of your navigation software.Cookies store a small amount of information when you visit a website. This information is provided by your computer when you first visited the web server. The server records this data in text file, and the text file will be stored on your hard drive. If you browse the same website again, the server will look for the relevant cookies and combine itself based on the information obtained. Cookies only allow the web server to identify the computer you use to view this Website without identifying individual users. Many browsers are initially set to accept cookies. You may reset your browser to refuse all cookies or warn you before accepting cookies. If you have set your browser to warn you before accepting cookies, you will receive a warning message with each cookie. You can refuse cookies by turning them off in your browser. Goldman Sachs generally uses cookies to help us improve our service to you the next time you visit Goldman Sachs website.
Goldman Sachs hopes to protect the quality and completeness of your personal identification data. After Goldman Sachs receives the information from you, it will dedicate its best effort to ensure the security of the data in Goldman Sachs' system. Goldman Sachs implements a strict security system to prevent anyone (including Goldman Sachs staff) from obtaining your personal data without authorization.
This Website contains hyperlinks to other websites that are not operated or monitored by Goldman Sachs and Goldman Sachs will not be liable for the privacy policy or content of such websites. Goldman Sachs recommends that you read the privacy policy of these websites carefully and understand how these websites protect your personal data and whether the related measures are safe and reliable.
If you subscribe to the Goldman Sachs Warrant/CBBC Market Information Update (including Goldman Sachs Daily Commentary / Intraday Highlight Commentary etc), and press the "I Accept"button on the website, it means that you accept and agree to the content of this Privacy Statement. As the Goldman Sachs Warrant/CBBC Market Information Update may contain direct marketing message, if you do not accept the content of this Privacy Statement, you will not receive Goldman Sachs Warrant/CBBC Market Information Update.
You may opt not to receive or to receive promotional materials from Goldman Sachs at any time (including Goldman Sachs Warrant/CBBC Market Information Update - Goldman Sachs Daily Commentary / Intraday Highlight Commentary etc), or direct promotions. To do so, please click the link "If you want to unsubscribe from the " Goldman Sachs Daily Commentary / Intraday Highlight Commentary " located at the bottom of the email of Goldman Sachs Daily Commentary / Intraday Highlight Commentary, or call the Goldman Sachs Warrants CBBC Hotline at 2978-2978.