They put the call option out way back in Jan, flushed the SP a bit tried to pump up the price up with $30m to cover their call on 24/02 failed. Then another $10m to catch to knife on 25/02 got shot down. Suffered heavy loss , they then bought put option after 25/02 as an insurance and also as a way to test the market sentiment. Everybody knows MS is long , to sell Put to MS tells you there are another major player is happy to keep the SP close to 8 or above $8 to avoid losing the $11.6m profit received. That tells me the market heavy weights’ consensus on rock bottom is somewhere near $8. It’s not UBS , not MS itself selling the put . So most likely from Blackrock , Mitsubishi and Citi. I wouldn’t be surprised it’s Citi. If it’s Citi that signals the game is finished and bottom has reached. If it’s Mitsubishi and Blackrock , look their averaged position , Black Rock is $9.8 and Mitsubishi circa $14 . It’s not in their interests to let the SP to slip further down from $8 . Both of Mistubishi and Blackrock have the means to arrest the fall and reverse the trend . I believe they’ve already got their P/E in mind . Citi’s game is coming to a close. A little positive news will see a violent reverse as everybody ,big boys included , will jump in early to lower their positions if an upward recovery trend is established.
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Last
$6.77 |
Change
0.190(2.89%) |
Mkt cap ! $4.894B |
Open | High | Low | Value | Volume |
$6.64 | $6.80 | $6.62 | $8.993M | 1.334M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5191 | $6.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.82 | 2584 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50 | 6.720 |
1 | 8000 | 6.700 |
1 | 5000 | 6.620 |
2 | 1100 | 6.600 |
1 | 760 | 6.520 |
Price($) | Vol. | No. |
---|---|---|
6.830 | 750 | 1 |
6.850 | 535 | 1 |
6.860 | 10000 | 1 |
6.900 | 11758 | 4 |
6.930 | 1420 | 1 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
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