It is odd.
Well, they did do a blog post talking up free LIC options as liquidity providers - https://www.morphicasset.com/blog/options-and-liquidity-in-lics.
Their strategy involves selling the heads at a premium to NTA and then converting the options. The exact opposite of what I've done (sold most of my heads, bought some more options for leverage, put the rest of the capital elsewhere for now).
Of course their outlined strategy benefits the fund by getting some options conversion out of the way early. Maybe a few holders have been encouraged to take that path.
It is odd. Well, they did do a blog post talking up free LIC...
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Last
99.5¢ |
Change
0.015(1.53%) |
Mkt cap ! $37.81M | |||
| Open | High | Low | Value | Volume |
| 98.0¢ | $1.00 | 98.0¢ | $89.00K | 89.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 40232 | 99.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.01 | 13217 | 1 |
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| Last trade - 15.39pm 22/08/2024 (20 minute delay) ? |
| MEC (ASX) Chart |