equity option
The minimum trading size, unlike futures and options, the minimum trading size for warrants is 1 warrant.
Out-of-the-money otm, a warrant with an exercise price above for a call warrant or below for a put warrant the price of the underlying security.
Parity, the theoretical number of warrants that give the right to either buy for call warrants or sell for put warrants one unit of the underlying security.
See also Conversion Ratio, note, however that the minimun trading size is 1 warrant.
Payout Formula, the payout formula for a warrant calculates the expiry value of the warrant, this amount is equal to the difference, if positive, between the Exercise Price of the warrant and the Expiry Price of the underlying.
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This amount may need to be converted into sterling, if the underlying is non-sterling denominated, and / or adjusted by the warrant's parity, price or premium.
in the money
index warrants
The amount paid for the warrant, pricing suplement.
The document containing the full terms and conditions of a warrant series, a summary of the Pricing Supplement is called a Term Sheet.
Put warrant, a warrant which gives the warrant holder the right, but not the obligation, to sell the underlying security at a predetermined price the strike or exercise price, on European Style or before American Style a predetermined date the Expiry or Maturity Date.
The value of a put warrant will appreciate when the price of the underlying security depreciates, the sensitivity of a warrant's theoretical value to a change in interest rates.
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