MEITUAN(HK:03690) Ge Long Hui·2025-12-10 04:40Core Viewpoint - The article analyzes the performance of Meituan (03690) and its derivatives, highlighting the current market volatility and the potential for profit through structured products like warrants [1][7]. Market Performance Summary - As of 11:15 AM, the Hang Seng Tech Index was at 5527 points, down 0.48%, with Meituan's stock price showing resilience by rising over 1.23% to 98.5 HKD [1]. - Key support levels for Meituan are identified at 94.2 HKD and 90.9 HKD, while resistance levels are at 101.3 HKD and 104.6 HKD, indicating a slight upward probability of 56% [3]. Investor Sentiment Analysis - Investor opinions are divided into three main perspectives: 1. Cautious observation, expecting the stock to hover around 100 HKD, with a preference for entry at around 90 HKD [4]. 2. Bearish outlook, anticipating further declines to the 92-94 HKD range, where a significant number of bull certificates exist, potentially triggering stop-losses [4]. 3. Optimistic yet conservative, with a strategy of small positions to capture potential rebounds, believing that the current price reflects negative sentiment [4]. Derivative Products Overview - On December 5, despite a 1.72% drop in Meituan's stock, related warrants showed significant gains, with some products rising by 7-8%, demonstrating the leverage effect of derivatives [7]. - For bullish investors, options with strike prices around 108.98 HKD are available, offering high leverage (approximately 9.5 times) and low premiums [7]. - For bearish investors, put options around 91 HKD provide high leverage (approximately 6.8 times), while bear certificates around 103 HKD offer even higher leverage (approximately 13.3 times) [15].