Ann: Change in substantial holding , page-15

Given that we have few substantial change in holdings from UBS, I'll add my 2c to as to what UBS are doing based on my analysis.

Okie we know that

1) From 1st of April and upto 10th of July LNC short positions have increased from 2.97% to 7.88%. ( Souce ASIC YTD short selling report).

2) During this time we have noticed change in substantial holdings only from UBS so people must be thinking that they are the mob who are going short on LNC. I believe this is the case as evident from their change in notices. ( Devil is in the detail). I also believe that they are not the only who are shorting but certainly are the main players.

As you will notice from the latest notice there are multiple entities of UBS in play here. But particular focus should be given to "UBS Securities Australia Pty Ltd" who I believe are reponsible for shorting and manipulation

Essentially what they are doing is borrowing stocks from "Warbont" & possible "UBS AG" and shorting it and at the same time they are also hedging their short positions by "Derivative Options" as evident in their notice. ( Look out for word Enter into derivative contract).

Yes guys, these 24.5 million options are " Derivative Options" and NOT " STock Options" which I believe some posters were getting confused with. " Derivative Options" work in the same way as " Stock Options" and have an exercise price and expiry date. Google for derivative options for more info.

Also, given the amount of short positions in Linc, I believe UBS have got this as " Call Options" where they can buy LNC shares at an agreed price defined in a derivative contract. Pretty smart isn't it.. so even if SP jumps and goes north I believe UBS are safe as they have already got this covered.

So I think their intention is to go "Long" on Linc in the longer term but in the medium term they are trying to short and make money.

Also, I'm not quite sure, but transactions related to " Collateral Received" and " Collateral returned" has nothing to do with short positions. What this simply means is that UBS have taken Linc shares as collateral for something they have loaned to other broker as part of borker agreement.It just hapeens to be the case that they have taken collateral as Linc shares or possibly trying to confuse investors.I dont' think we will see any decrease in short positions due to today's notice.
However, we will come to know in a days time when ASIC short position report will be updated for 11th of July.

I welcome all educated " Bullish" and " Bearish" discussions.

BTW, I've recently taken a small stake in Linc at 69.5c.

As usual please DYOR and above are just my thoughts.