IVZ invictus energy ltd

0.00%

5.2¢

Ann: Notification of cessation of securities - IVZ, page-49

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jakspara

10,289 Posts.

3628

04/02/25

08:05

Post #: 77690518

Originally posted by umw: ↑
You're correct with you being better off by $2,000. But you are looking at it from a view with different exposure of shares and a hindsight IVZ share price of 7.5 cents. But you would have been $6,100 worse off if the IVZ share price was 40 cents.

If you then look at it from a view with same exposure of number of shares it paints a different picture again.

See the 2 tables below, hopefully it's clear enough for you to see and realise that you would have been better off by selling 65,000 FPO, use $6,500 for yourself, and then from the surplus of $9,100 buy-back the 65,000 lapsed shares at a cost of $4,875, leaving you better off by $9,100 minus $4,875 which is $4,425.

Table 1: Different exposure of shares
Starting point: x FPO shares and 65,000 IVZAK
1 PLAY 1 - JAK
2 exercise IVZAK, sell them @ 24
3 Nett: $6,500 cash, x FPO shares, 0 IVZAK shares (total exposure of x shares)
4 PLAY 2 - UMW
5 sell 27,000 FPO @ 24, you get $6,480
6 Nett: $6,500 cash, x - 27,000 (FPO shares), and 65,000 IVZAK shares (total exposure of x + 38,000 shares)
7
8 18-24 months later, lets look at 3 different possible scenarios
9 SCENARIO 1 - share price @ 7.5 cents
10 OPTION 1 - JAK
11 x FPO shares
12 OPTION 2 - UMW
13 need to buy back those 27,000 FPO shares @ 7.5 cents on market (cost $2,025) to have x FPO shares again
14
15 RESULT: JAK better off by $2,025
16 SCENARIO 2 - share price stays the same
17 OPTION 1 - JAK
18 x FPO shares
19 OPTION 2 - UMW
20 convert all options (cost $9,100), sell 65,000-27,000 FPO shares, return of $9,200, nett result $100 and x FPO shares
21
22 RESULT: DRAW
23 SCENARIO 3 - share price @ 40 cents
24 OPTION 1 - JAK
25 x FPO shares
26 OPTION 2 - UMW
27 convert all options (cost $9,100), sell 65,000 - 27,000 FPO shares, return of $15,200, nett result $6,100 and x FPO shares
28
29 RESULT: UMW better off by $6,100

Table 2: Same exposure of shares
Starting point: x FPO shares and 65,000 IVZAK
1 PLAY 1 - JAK
2 exercise IVZAK, sell them @ 24
3 Nett: $6,500 cash, x FPO shares, 0 IVZAK shares (total exposure of x shares)
4 PLAY 2 - UMW
5 sell 65,000 FPO @ 24
6 Nett: $15,600 cash ($9,100 surplus), x - 65,000 (FPO shares), and 65,000 IVZAK shares (total exposure of x shares)
7
8 18-24 months later, lets look at 3 different possible scenarios
9 SCENARIO 1 - share price @ 7.5 cents
10 OPTION 1 - JAK
11 x FPO shares
12 OPTION 2 - UMW
13 need to buy back those 65,000 FPO shares @ 7.5 cents on market (cost $4,875) to have x FPO shares again
14
15 RESULT: UMW better off by $4,225 ($9,100 surplus minus $4,875 cost)
16 SCENARIO 2 - share price stays the same
17 OPTION 1 - JAK
18 x FPO shares
19 OPTION 2 - UMW
20 convert all options (cost $9,100) for a nett result of x FPO shares
21
22 RESULT: DRAW
23 SCENARIO 3 - share price @ 40 cents
24 OPTION 1 - JAK
25 x FPO shares
26 OPTION 2 - UMW
27 convert all options (cost $9,100) for a nett result of x FPO shares
28
29 RESULT: DRAW
Expand
Omg, you have too much time on your hands dude.

Fact is, you’re using hindsight, I made the trade in the moment with the info at hand and it turned out to be the right move. Some you win, some you lose as is the nature of trading. End of story.

IVZ Price at posting: 7.3¢ Sentiment: None Disclosure: Held

4 Upvote

0 Great analysis

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Ann: Notification of cessation of securities - IVZ, page-49

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	Starting point: x FPO shares and 65,000 IVZAK
1	PLAY 1 - JAK
2	exercise IVZAK, sell them @ 24
3	Nett: $6,500 cash, x FPO shares, 0 IVZAK shares (total exposure of x shares)
4	PLAY 2 - UMW
5	sell 27,000 FPO @ 24, you get $6,480
6	Nett: $6,500 cash, x - 27,000 (FPO shares), and 65,000 IVZAK shares (total exposure of x + 38,000 shares)
7
8	18-24 months later, lets look at 3 different possible scenarios
9	SCENARIO 1 - share price @ 7.5 cents
10	OPTION 1 - JAK
11	x FPO shares
12	OPTION 2 - UMW
13	need to buy back those 27,000 FPO shares @ 7.5 cents on market (cost $2,025) to have x FPO shares again
14
15	RESULT: JAK better off by $2,025
16	SCENARIO 2 - share price stays the same
17	OPTION 1 - JAK
18	x FPO shares
19	OPTION 2 - UMW
20	convert all options (cost $9,100), sell 65,000-27,000 FPO shares, return of $9,200, nett result $100 and x FPO shares
21
22	RESULT: DRAW
23	SCENARIO 3 - share price @ 40 cents
24	OPTION 1 - JAK
25	x FPO shares
26	OPTION 2 - UMW
27	convert all options (cost $9,100), sell 65,000 - 27,000 FPO shares, return of $15,200, nett result $6,100 and x FPO shares
28
29	RESULT: UMW better off by $6,100

Ann: Notification of cessation of securities - IVZ, page-49

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Sellers (Offers)

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