Anyone got the faintest idea how much coin was made by the punters who took a short BOT position from may 2nd, at 45c ? Looking at the above we have 69.6 million shorts which means at some time, this has to be covered. But if no one sells and a great announcement comes out with consequent sp rise, these guys will have to scramble back quickly resulting in rorbags V shape hypothesis for those that read it. It's all a bit fascinating really knowing that the interest rate for shorts is 11per cent BUT quite possibly the short holder can hold them for as long as they want. Obvioulsy if BOT keeps rising which should be on the cards post $c results late July, then buying back becomes dearer provided another big mate doesn't come along to ruin the party for SH's by shorting yet again. It's a bit complex I know but picking the opportunity was the key for these shorts. If 69million shares were 'loaned' or shorted at about 42.5cents, then if all could be bought back at 32.5cents it looks like thats a 10c profit per share times 69million which would make these guys 6.9million. Anyone got a take on all this and anyone got personal experience too ? The only think i have shorted is my fuse box when i cut through the cord with the automatic hedge trimmer. Now that's one of my five lives right there that have been used up. Another time for the others.
Go the BOT team, Go the kangas another victory last week, ugly but good.
BOT Price at posting:
32.5¢ Sentiment: None Disclosure: Held
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