Let's try to un-pack this Clayton's Auction.
Personally I think this has backfired on PLS.
The auction was supposed to be transparent to establish a market price.
Which, by accepting an offer, is clearly not market forces at work.
That's if there was a bid?
This supposed Cotango, is just smoke and mirrors.
Auctioning a product that does not exist and not available for another 6-8 months...
Really guys, have you thought this through, it seems to be a late night thought bubble that did not bust in the laser light of morning rationalism.
No more BMX Auctions this year: clearly you have no spare product to Auction.
Is it any surprise that the CCP immediately spanked the Li futures price: not to me.
All you have succeeded in achieving is giving the Shorters a massive free kick, when, presumably, the opposite was the desired outcome?
The only positive i can find in this catastrophe is that PLS is running at capacity with no spare product.
Whilst I'm still a believer and buying on weakness, I don't think this has been your finest hour.
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Let's try to un-pack this Clayton's Auction.Personally I think...
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Last
$3.20 |
Change
-0.020(0.62%) |
Mkt cap ! $9.631B |
Open | High | Low | Value | Volume |
$3.22 | $3.23 | $3.18 | $79.04M | 24.54M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | $3.20 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.21 | 493680 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 3.200 |
14 | 538668 | 3.190 |
51 | 1228625 | 3.180 |
20 | 236766 | 3.170 |
18 | 203826 | 3.160 |
Price($) | Vol. | No. |
---|---|---|
3.210 | 389300 | 8 |
3.220 | 142049 | 7 |
3.230 | 150243 | 11 |
3.240 | 86936 | 7 |
3.250 | 176567 | 13 |
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