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"Key figures" category


In the "Key figures" area, you can see other prominent warrant key figures in addition to the sensitivities:

ID

Description

Premium

The premium of the warrant, that is, the percentage by which the ratio of the underlying instrument of the warrant is higher (that is, more expensive) than buying it directly on the stock exchange. The reverse applies to put options.

Premium p.a.

The premium is annualised. This value makes for a better comparison of warrants with different expiration dates.

Intrinsic value

The intrinsic value of a warrant is the difference between the current underlying price and the strike price. It indicates the amount that would be achievable by exercising the warrant.

Moneyness

Moneyness is a key figure that describes the "situation" (the current market price) of a warrant in relation to the underlying price. Accordingly, for a call, moneyness is the current price of the underlying instrument divided by the strike.

There are three types:

  • Moneyness > 1: "in the money"
  • Moneyness = 1: "at the money"
  • Moneyness > 1: "out of the money"

This indicator allows you to directly infer the relative profit or loss. A moneyness of 1.20 indicates a gain of 20%, while a moneyness of 0.90 indicates a loss of 10%.

Parity

This key figure determines the value of a warrant that an investor actually achieves when it is exercised immediately. As only the intrinsic value is calculated, the time value, that is, the speculative and initially worthless investment of the investor, is not taken into account.

Remaining term (years)

Remaining time to maturity of the warrant at the calculation date in years.

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