It’s likely the conversion won’t happen until after the options expire, that’s my reading. However it doesn’t matter, the market will close the discount in anticipation of the conversion as we approach expiry date - this bringing the options heavily into the money. Which is why the options have rallied so hard this morning.
based on a 7.5% discount to NAV the max value of the options are 14.4 cents. However, I’m inclined to think a small 3-4% discount to NAV will remain given there is always a small degree of uncertainty in such situations - which may cap the max option value at 7.2 cents IMO. Hence I’m holding for further upside on MGFO as I expect after the initial surge on MGF there will be a gradual buying pressure that continues to close the discount.
Not financial advice.
It’s likely the conversion won’t happen until after the options...
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Last
$2.19 |
Change
0.020(0.92%) |
Mkt cap ! $3.301B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.19 | $7.216M | 3.289M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 311231 | $2.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 81507 | 12 |
View Market Depth
| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$2.20 |
Change
0.020 ( 1.39 %) |
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| Open | High | Low | Volume | ||
| $2.20 | $2.20 | $2.19 | 349623 | ||
| Last updated 15.45pm 06/06/2024 ? | |||||
| MGF (ASX) Chart |