Traditional corporate equity warrants

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13. Analysis -sample spreadsheets

While none of the warrant technical indicators are very complex, it would be tedious calculating them using a simple calculator. Fortunately many investors now have computers with spreadsheets. This section offers two sample spreadsheets that can be downloaded to the investor's own computer and amended for personal use. The two spreadsheets are -

• Advanced warrant analysis: This is a spreadsheet for calculating the main technical indicators for one warrant.
• A warrant portfolio: This presents a simple portfolio of 10 warrants, with all the indicators. In practice, one would not want to use such a comprehensive spreadsheet, and the indicators could be reduced to just three or four.

1. Introduction 2. What is a warrant? 3. The warrant market 4. Advantages of warrants over shares - the magic of gearing 5. Further attractions of warrants 6. Disadvantages of warrants 7. Fundamentals - warrant terms 8. Fundamentals - intrinsic value and parity ratio 9. Basic analysis 10. Analysis - time value and premium 11. Analysis - gearing 12. Analysis - break-even and capital fulcrum point 13. Analysis -sample spreadsheets 14. Analysis - summary 15. Investing strategies 16. Dealing in warrants 17. Warrant exercise 18. Further topics 19. Further information 20. Conclusion

• Andrew McHattie on Covered Warrants