认沽权证

我们发现少数认购权证和大部分认沽权证与标的股票价格、股票市场指数存在异常联动关系。

We find a small number of call warrants and a large proportion of put warrants behave eccentrically in interaction with the underlying stocks as well as the stock market indices .

2005年8月，为了配合股权分置改革的深入发展，部分上市公司免费派发给流通股东认购权证或者是认沽权证，或者是两种联袂派发（蝶式权证）。

In August 2005 , in line with the share reform in depth , the companies distributed free of charge to current shareholders of warrants or put warrants , or both jointly distributed ( butterfly warrants ) .

我国认沽权证创设注销机制问题研究

Study on the Problems about the Creation and Write-off Mechanism of Put Warrant

但是负面影响也不可忽视，多数权证价格长期偏离价值，南航认沽权证最终也沦为投机的工具。

But negative effect can not be ignored , most authority card price long-term deviation value , China southern airlines sell finally recognized authority card into speculative tools .