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Warrants Implied Volatility
港股周一（11日）早段低開之後一度跌穿17900點關口，隨著中國央行午間披露全國外匯市場自律機制專題會議在北京召開，並稱堅決杜絕投機炒作，人民幣匯價午後急升提振中港股市，指數午後跌幅收窄至105點，報18096點收市，大市成交金額約1245億。今早（12日），恒指低開之後逐步收復跌幅，截至中午暫可轉跌為升。投資者如看好恒指，或可留意恒指購17510，行使價20300點，實際槓桿13.9 倍，換股比率6500 兌 1，2023年12月28日到期；如看淡，或可留意恒指沽17799，行使價17400點，實際槓桿10.3 倍，換股比率7200 兌 1，2023年12月28日到期。
阿里巴巴（9988）高層換班，原董事會主席兼CEO張勇原訂將轉為專心領導阿里雲，但最新卻宣布辭任阿里雲CEO令市場驚訝，阿里周一裂口低開收跌3%，今早亦繼續偏軟，截至中午跌1.7%，報86.55元，暫時於250天綫約87元位置附近爭持。另外，據報螞蟻萬里匯首八個月跨境支付用戶於1688採購額達220億人民幣，增逾50%。投資者如看好阿里，或可留意阿里購18649，行使價102.2元，實際槓桿7倍，換股比率50 兌 1，2024年01月29日到期；如看淡，或可留意阿里沽18064，行使價81.95元，實際槓桿7.2 倍，換股比率50 兌 1，2023年11月29日到期。
港交所（0388）股價上周連日於100天綫附近整固，周一則隨大市場回吐，一度急跌4.3%，見294元低位，收市前跌幅顯著收窄，險守300元關口，收報300.2元，全日跌2.3%。 而今早隨大市走低之後强勢反彈，中段轉跌為升，20天綫暫時失而復得。投資者如看好港交，或可留意港交購17137，行使價360.2元，實際槓桿11.1 倍，換股比率100 兌 1，2023年12月27日到期；如看淡，或可留意港交沽18711，行使價277元，實際槓桿8.3 倍，換股比率100 兌 1，2024年01月24日到期。
踏入8月，港股業績期開始，投資者可瀏覽CitiFirst®業績公佈日曆專頁，一表看清所有股份相關業績公佈日期。
阿里（9988）將於周四（10日）公佈業績，除基本面因素外，市場亦或關注其分拆業務的上市進度。股價走勢方面，阿里於7月25日造出上升裂口，裂口頂部在約93元位置，股價暫時在該位置見支持。 投資者如看好阿里，或想趁績前部署好倉，或可留意阿里牛69584，收回價83.3元，槓桿比率7.6 倍，換股比率100 兌 1，2024年01月02日到期；如看淡，或可留意阿里熊59986，收回價103.8元，槓桿比率8.1 倍，換股比率100 兌 1，2023年11月01日到期。
同樣將於周四公佈業績的還有中移動（941），股價走勢連續兩個月呈窄幅橫行，北水連續5日買入，投資者如看好憧憬突破，績前部署或可留意中移牛55348，收回價55.5元，槓桿比率7 倍，換股比率100 兌 1，2023年12月01日到期；如看淡，或可留意中移沽18708，行使價59.36元，實際槓桿15.6 倍，換股比率10 兌 1，2023年11月22日到期；又或可留意將於明天（8月9日）上市的中移熊51247，收回價70元，換股比率100 兌 1，2024年07月03日到期。
恒指兩日上落波幅過千點，周一（24日）急挫逾400點之後，周二（25日）顯著反彈，裂口高開後一舉重返包括250天綫在内的多條移動平均綫之上，恒指牛熊街貨比例更側重於熊證，比例約43:57，熊證重貨區位於19500至19599水平。今早（26日）大市隨人民幣匯價回落，暫跌約150點至19300點附近位置。 投資者如看好恒指，投資者如看好恒指，或可留意恒指牛69817，收回價19000點，槓桿比率35.3 倍，換股比率10000 兌 1，2024年07月30日到期；如看淡，或可留意恒指熊67706，收回價19750點，槓桿比率45.2 倍，換股比率10000 兌 1，2025年08月28日到期。
友邦（1299）年初見高位約93.7元之後走勢持續向下，走勢一頂低於一頂，不過3月及5月下旬至少兩次於約75元水平獲支持回穩，整體高低波幅正收窄，本周初再次逼近該水平，今日暫於76元-77元附近上落。 投資者如看好友邦，或可留意友邦購18033，行使價90.05元，實際槓桿15.5 倍，換股比率10 兌 1，2023年09月29日到期；如看淡，或可留意友邦沽18034，行使價67.95元，實際槓桿12.6 倍，換股比率10 兌 1，2023年09月29日到期。
阿里決定不在螞蟻集團的回購議案中向其出售股份，周二三大科網股領升大市，阿里居首，貢獻恒指逾百點升幅，股價上試月中高位95元。今早小幅調整，開市後最低曾見92.65元後獲承接回穩，暫報約94元，跌1.15%。 投資者如看好阿里，或可留意阿里購17894，行使價125.1元，實際槓桿5.2 倍，換股比率50 兌 1，2024年03月25日到期；如看淡，或可留意阿里沽18064，行使價81.95元，實際槓桿5.9 倍，換股比率50 兌 1，2023年11月29日到期。
恒指上周試探20000點大關後，連續第三日大幅回吐，今早（21日）裂口低開失守250天牛熊分界綫，暫跌至約19300點水平附近爭持，本周暫已跌逾600點。截至上日（20日），恒指牛熊街貨比例約63:37，上日樂/悲觀資金流比例約71:29。年初至今，恒指曾在3月中下旬及5月尾分別造出兩個低位，分別在約18800及18000點水平，走勢上一浪低於一浪。 投資者如看好恒指，或可留意恒指購14842，行使價20600點，實際槓桿13.8 倍，換股比率7100 兌 1，2023年09月28日到期；如看淡，或可留意恒指沽15579，行使價17600點，實際槓桿12.7 倍，換股比率5500 兌 1，2023年09月28日到期。
阿里公佈高層人事變動，原CEO張勇將專職阿里雲，蔡崇信及吳泳銘則接任集團董事長和CEO。股價走勢方面，阿里上周曾衝高至92.7元，本周顯著回調，今早裂口低開逾3%，股價回試50天綫水平。上日阿里好倉約錄得約670萬元資金流入，淡倉則有約230萬元資金流入。 投資者如看好阿里，或可留意阿里購23990，行使價95元，實際槓桿7 倍，換股比率100 兌 1，2023年09月29日到期；如看淡，或可留意阿里沽16091，行使價77.83元，實際槓桿5 倍，換股比率50 兌 1，2023年10月30日到期。
騰訊探頂回落，股價未能站穩100天綫之上，自5月22日起，騰訊連日皆有股份回購，股價今早下試50天綫水平。資金流方面，騰訊好倉上日合共錄得約2400萬元流入，淡倉則流出約400萬元。 投資者如看好騰訊，或可留意騰訊購29693，行使價432.099元，實際槓桿10.9 倍，換股比率94.967 兌 1，2023年09月28日到期；如看淡，或可留意騰訊沽17030，行使價303.8元，實際槓桿11.4 倍，換股比率100 兌 1，2023年08月30日到期。
上日（13日）恒指走勢有所轉強，在回試200天綫附近水平企穩後，突破橫行區間進一步走高，逼近上方250天綫，今早（14日）則暫以整固爲主。截至上日，恒指牛熊街貨比例為48.5:51.5，收回價距上日收市價19521點上下1000點的牛熊街貨比例則為約45:55。 投資者如看好恒指，或可留意恒指牛66446，收回價19250點，槓桿比率39.1 倍，換股比率10000 兌 1，2023年12月28日到期；如看淡，或可留意恒指熊64003，收回價20000點，槓桿比率40.7 倍，換股比率10000 兌 1，2024年04月29日到期。
百度（9888）上日顯著造好，股價突破約125至135元橫行區間以及100天綫，公司另外宣布推出智能電商品牌「百度優選」，與蘇寧易購達成合作，以618為契機蘇寧易購將全品類超過100萬款商品接入百度電商，並覆蓋搜索、直播、視頻、商城等多個場域。 投資者如看好百度，或可留意百度牛66511，收回價120元，槓桿比率5.5 倍，換股比率500 兌 1，2024年06月03日到期；如看淡，或可留意百度熊59968，收回價154.2元，槓桿比率9.5 倍，換股比率500 兌 1，2024年01月02日到期。
阿里（9988）上日隨大市造好，上試50天綫位置，開始回補5月中旬下跌裂口，與騰訊（0700）、百度（9888）等科網股相比，走勢仍較落後。 投資者如看好阿里，或可留意阿里購23990，行使價95元，實際槓桿6.6 倍，換股比率100 兌 1，2023年09月29日到期；如看淡，或可留意阿里沽16091，行使價77.83元，實際槓桿6.2 倍，換股比率50 兌 1，2023年10月30日到期。
美聯儲議息前夕，同時適逢内地五一黃金周長假，港股交投淡靜，上日（2日）大市成交金額約755億，為去年12月21日以來最低。走勢方面，恒指仍未擺脫上落爭持的局面，近期上下波幅區間介乎約19500至20300點之間，今早（3日）隨外圍低開近250點失守250天綫。截至上日，恒指牛證重貨區位於19500至19599點，熊證重貨區則位於20300至20399點，整體恒指牛熊街貨比例約54:46。議息前夕及成交疏落之下，大市上落波幅或傾向波動，投資者或可考慮部署較遠收回距離的牛熊證，控制收回風險， 投資者如看好恒指，或可留意恒指牛58112，收回價19250點，槓桿比率42.6 倍，換股比率10000 兌 1，2024年11月28日到期；如看淡，或可留意恒指熊61446，收回價20500點，槓桿比率18.8 倍，換股比率10000 兌 1，2024年04月29日到期。
滙豐（0005）首季度業績表現勝市場預期，稅前利潤同比增長逾200%，並宣布派發首季股息及最多20億美元股份回購計劃。股價上日午後抽升突破上月高位，重返2月至3月初水平，今早走勢則以整固爲主。上日輪場滙豐好倉資金流入約500萬元，淡倉流入約300萬元。 投資者如看好滙豐，或可留意滙豐購12404，行使價65.88元，實際槓桿13.2 倍，換股比率10 兌 1，2023年07月28日到期；如看淡，或可留意滙豐沽12406，行使價50元，實際槓桿12.8 倍，換股比率10 兌 1，2023年07月28日到期。
科網股走勢偏軟，阿里（9988）今早下試80元水平，曾跌逾3%，日内低位暫見79.7元，逼近3月低位約78元。根據CitiFirst®樂觀/悲觀情緒資金流專頁輪證數據，截至上日，阿里5天累計樂觀/悲觀資金比例約75:25，合計樂觀資金流逾1億。 投資者如看好阿里，或可留意阿里購23990，行使價95元，實際槓桿6.6 倍，換股比率100 兌 1，2023年09月29日到期；如看淡，或可留意阿里沽26680，行使價62.88元，實際槓桿10.3 倍，換股比率50 兌 1，2023年09月28日到期。
周二（25日）恒指弱勢依舊連跌三天，並且失守了250天綫，日内低位曾逼近19500點，若進一步向下觀望，恒指下一尚未回補的上升裂口位於3月21至22日，裂口區間在約19200至19400點水平。而參考恒指牛熊證街貨分佈，截至上日牛熊街貨比例為61.1:38.9，今日（26日）大市從低位19520點展開反彈，一度重上250天綫約19700點水平之上。 投資者如看好恒指，或可留意恒指購29262，行使價21000點，實際槓桿19.5 倍，換股比率7000 兌 1，2023年06月29日到期；但參考上日恒指牛熊證街貨分佈，20300至20399點收回區間熊證獲顯著加倉，相關對冲期指合約張數逾600張，投資者如繼續看淡，或可留意恒指沽11290，行使價18600點，實際槓桿14.1 倍，換股比率8800 兌 1，2023年06月29日到期。
科網股表現疲軟，截至上日恒科指及阿里巴巴（9988）皆連續6日收跌，阿里6日累計跌幅接近12%，股價回補3月28至29日的大型上升裂口。今日股價低位暫見81.25元，之後隨大市收窄跌幅，日内高位曾升穿84元。 投資者如看好阿里，或可留意阿里購23990，行使價95元，實際槓桿5.6倍，換股比率100 兌 1，2023年09月29日到期；如看淡，或可留意阿里沽26680，行使價62.88元，實際槓桿5倍，換股比率50 兌 1，2023年09月28日到期。
美團（3690）周二未能於50天綫站穩，走勢顯著受壓，日内最多曾跌近6%至129.5元，股價暫仍然位於自2月中至今形成的上落區間約125至145元。今日隨大市反彈，高位暫報135.7元。整體技術走勢上，美團上落波幅有逐漸收窄之勢，股價向三角形中綫約135元位置靠攏，方向待變。上日輪場美團好倉資金流入逾1100萬元，樂觀/悲觀比例為73:27。 投資者如看好美團，或可留意美團牛54122，收回價120元，槓桿比率6.6 倍，換股比率500 兌 1，2024年02月01日到期；如看淡，或可留意美團熊59988，收回價147元，槓桿比率8.7 倍，換股比率500 兌 1，2024年01月02日到期。
恒指連日於21000點水平好淡爭持，上日（13日）低開280點，開市後跌幅即擴大至390點見20799點，逼近上月初上升裂口底部，其後跌幅於日内逐步收窄，21000點水平失而復得。今早（14日）延續整固形態，續於21000點水平附近徘徊。截至上日，恒指牛證重貨區位於20500至20800點區間，熊證重貨區則集中於21800至22100點區間。 投資者如看好恒指，或可留意恒指牛69687，收回價20500點，槓桿比率26 倍，換股比率10000 兌 1，2025年12月30日到期；如看淡，或可留意恒指熊52151，收回價22000點，槓桿比率24 倍，換股比率10000 兌 1，2025年12月30日到期。
阿里（9988）連日受制10天綫，上日開市後最多跌3.3%，之後在日内低位100.7元位置獲得承接隨大市反彈，收市股價接近追平，暫守100元關。今早於103元附近窄幅上落。根據CitiFirst®網站樂觀/悲觀情緒資金流資訊，阿里過去5日（2月7至13日）樂觀資金流合計約1.4億，資金樂觀/悲觀比例接近6:4。 投資者如看好阿里，短綫部署或可留意阿里購29943，行使價118.98元，實際槓桿5.5 倍，換股比率50 兌 1，2023年06月29日到期；長綫部署則可留意阿里購13254，行使價138.98元，實際槓桿3 倍，換股比率100 兌 1，2024年06月27日到期； 或可留意阿里牛51609，收回價96.88元，槓桿比率10.1 倍，換股比率100 兌 1，2023年12月28日到期。
中移動（941）自去年11月展開升浪以來，走勢一頂高於一頂，近日走勢沿10天綫位置整固，在最近大市回調之際股價跌幅相對較少，逆市企穩。股價上日收報57元，近期高位則在57.5元。 投資者如看好中移，或可留意中移購25026，行使價60.65元，實際槓桿15.8 倍，換股比率10 兌 1，2023年04月27日到期；或可留意中移牛52149，收回價51.38元，槓桿比率11.4 倍，換股比率100 兌 1，2023年12月28日到期。