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3 Banks & SingTel - Ride The End Of Quarter Wave?
25 Jun 09

Call warrant DBS MBL eCW091001 (H2QW) exercise price $11.60.*

Put warrant DBS MBL ePW091001 (H2RW) exercise price $10.80.*

Long dated warrant DBS MBL eCW110502 (H3IW) exercise price $13.00.*

Put warrant OCBC Bk MBLeCWQ091203 (HS9W) exercise price $5.50.*

Call warrant UOB MBL eCW091203 (H8VW) exercise price $15.90.*

Put warrant UOB MBL ePW091102 (H2TW) exercise price $13.50.*

We are now approaching the end of June, which marks the end of the month and more importantly, the end of the second quarter. The STI ended last Friday down 4.4% week-on-week, and traded in the red in the early part of this week. However, buying action was seen yesterday which took the index…

End of quarter rally?
We are now approaching the end of June, which marks the end of the month and more importantly, the end of the second quarter. The STI ended last Friday down 4.4% week-on-week, and traded in the red in the early part of this week. However, buying action was seen yesterday which took the index up to 2,279.0, higher than last Friday’s close of 2,273.2.


No surprises from the Fed – interest rates unchanged
Overnight, the Fed highlighted from its FOMC meeting that it wil keep the Fed Funds rate unchanged (between zero and 0.25%) for an extended period, allaying fears in the market that short term interest rates may increase on inflation concerns.

The Fed also refrained from increasing its $1.75 trillion bond purchase program, stating that the pace of economic contraction is slowing and predicted inflation will remain subdued for some time (Bloomberg).


Index majors – strong influence on index movements
The index majors (3 banks and SingTel) have a combined weighting of almost 40% in the STI. Movements in these stocks generally have a strong influence on the movement in the STI.

The following warrants have exercise prices close to their respective last traded underlying share prices:

Call warrant DBS MBL eCW091001 (H2QW) exercise price $11.60.*

Put warrant DBS MBL ePW091001 (H2RW) exercise price $10.80.*

Long dated warrant DBS MBL eCW110502 (H3IW) exercise price $13.00.*

Put warrant OCBC Bk MBLeCWQ091203 (HS9W) exercise price $5.50.*

Call warrant UOB MBL eCW091203 (H8VW) exercise price $15.90.*

Put warrant UOB MBL ePW091102 (H2TW) exercise price $13.50.*

Call warrant SingTelMBLeCW091202 (H6OW) exercise price $3.20.*

Long dated warrant SingTelMBLeCW110404 (HJ5W) exercise $2.90.*


Macquarie DBS Warrants
Trading Call Warrants (Short term bullish view)
DBS MBL eCW090902 (HJ4W) exercise price $7.40.*
DBS MBL eCW091102 (HR1W) exercise price $9.30.*
DBS MBL eCW091002 (HX2W) exercise price $10.20.*
DBS MBL eCW091001 (H2QW) exercise price $11.60.*
DBS MBL eCW091202 (H8AW) exercise price $12.90.*

Trading Put Warrants (Short term bearish view)
DBS MBL ePW091001 (H2RW) exercise price $10.80.*
DBS MBLePW091002 (HX3W) exercise price $8.88.*
DBS MBL ePW091102 (HQ8W) exercise price $7.50.*

Long Dated Warrants (Long term bullish view)
DBS MBL eCW110404 (HJ6W) exercise price $7.50.*
DBS MBL eCW110103 (G9WW) exercise price $9.50.*
DBS MBL eCW110502 (H3IW) exercise price $13.00.*
DBS MBL iCW100401 (G9LW) exercise price $6.80.*


Macquarie OCBC
Trading Call Warrants (Short term bullish view)
OCBC Bk MBLeCWQ091203 (HS9W) exercise price $5.50.*

Trading Put Warrants (Short term bearish view)
OCBC Bk MBLePW091102 (H2UW) exercise price $6.40.*
OCBC Bk MBLePW091002 (HX4W) exercise price $5.00.*


Macquarie UOB Warrants
Trading Call Warrants (Short term bullish view)
UOB MBL eCW090902 (HI4W) exercise price $9.80.*
UOB MBL eCW091005 (H1KW) exercise price $11.50.*
UOB MBL eCW091102 (H2SW) exercise price $13.80.*
UOB MBL eCW091203 (H8VW) exercise price $15.90.*

Trading Put Warrants (Short term bearish view)
UOB MBL ePW091102 (H2TW) exercise price $13.50.*
UOB MBL ePW091005 (H1LW) exercise price $10.50.*

Long Dated Warrants (Long term bullish view)
UOB MBL eCW110404 (HJ7W) exercise price $10.00.*


Macquarie SingTel Warrants
Trading Call Warrants (Short term bullish view)
SingTelMBLeCW090907 (HI8W) exercise price $2.60.*
SingTelMBLeCW091202 (H6OW) exercise price $3.20.*

 

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