If they are long overall, which I suspect they are, they will have more stock long. eg. Aus Super long from 36c... The short position will be no where near the volume of their long position, and they may close and open shorts everyday depending on price action. Thus not a net zero position. As you said, this would be pointless. They may also be hedging against a different stock they are long on, in case of an overall market correction.
The opposite would apply of they are short overall.
PLS chart, page-4737
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Last
$3.27 |
Change
0.110(3.48%) |
Mkt cap ! $9.846B | |||
| Open | High | Low | Value | Volume |
| $3.22 | $3.30 | $3.21 | $93.46M | 28.68M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 29000 | $3.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.27 | 20000 | 2 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |