My hunch is that the short position could be much more than 3.8M - perhaps 8M?
BA/ML(my guess) is only obliged to report its net short position to the ASX .
Which it did on the triple witching date 17 June 2022
On that date there was a large after hours XXT transaction of 8M.
My guess is that a hedge fund operating under the BOA/ML umbrella assumed a 8M short position.
That date coincided with gold's descent from $1872 to $1690
BOA/ML dropped under the substantial holder threshold (11M) on 17 Feb and have been selling down.
If so, the hedge fund has until 17 Sept to substantially cover their short position
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