https://au.citifirst.com/EN/Products/MINIs/FORTESCUE_METALS_GROUP...

https://au.citifirst.com/EN/Products/MINIs/FORTESCUE_METALS_GROUP_LTD/FMGKOG/
This above warrant is a long and is actually the most recent added..look at the leverage 84% effective gearing.. that's FMG on rocket fuel as long as the trend is up.. if it trends down get out quick or go the other way that's when you take a short warrant..
You use their money fCiti Banks money Read the PDS..

https://www.investopedia.com/terms/w/warrant.asp
What Is a Warrant?Warrants are a derivative that give the right, but not the obligation, to buy or sell a security—most commonly an equity—at a certain price before expiration. The price at which the underlying security can be bought or sold is referred to as the exercise price or strike price. An American warrant can be exercised at any time on or before the expiration date, while European warrants can only be exercised on the expiration date. Warrants that give the right to buy a security are known as call warrants; those that give the right to sell a security are known as put warrants.