is warrants a thing whose value depends on a price/index at certain time?before the deadline, you can sell the warrants out with current price, am I right?

吾已经赚了指数25个点左右，这个warrant是差不多3个点换1c，理论上应该赚了8c了，为何事实上只有1.5c?

becoz of the previous bull, this put warrant's volatility is super low.after several days big fall, you will see the effect. but , watch for several days continous fall and time decay first. You can have a look at the Call warrant of STI. If STI falls a little, the CW will down a lot, while the PW did not react too much. That is the idea. Warrants prices compromising a lot of factors, that's why it isnot so easy to play. hehe.