Covering short positions in Poma. The heavy concentration area for call warrants is at 260 yuan. The leverage for conservative call warrants is approximately 6 times.

The bear warrants for $POP MART(09992.HK) mentioned in last Friday's warrant program rose from 0.075 to a high of 0.109. The call warrants for $BABA-W(09988.HK)CALL$ UBALIBA@EC2512D.HK rose from 0.147 to 0.223. Pop Mart plunged after being added to the Hang Seng Index, with significant profit-taking in short positions. Short-selling volume dropped sharply from HKD 1.9 billion on September 5 to HKD 570 million on the previous day, accounting for 6% of the underlying stock's turnover, down from 31%, returning to a more normal level. For those looking to unwind short positions and go long, there are various bull warrants with different knockout levels available in the market. The heavily concentrated knockout zone for bull warrants is below HKD 260. To avoid this zone, there are options with low street supply at HKD 240 and HKD 230, such as $ UB#POMRTRC2602B.HK $ UB#POMRTRC2602C.HK