Wasa and others, unfortunately disagree, hedge funds love that kind of margin, discound of .45c at 20 million is a very good return as a %. Hedge funds quite often will have large sell orders sitting on one side, trying to flush anyone out, whilst they have the buy orders in place. In the end worst case scenarion BPT will buy at 8.25c. At the current price the profit per million shares is $4500 or close to 9% if annualised. Not bad.
ITC Price at posting:
8.1¢ Sentiment: None Disclosure: Held