It is very true that those options would have been processed prior to the announcement. However, they would have been processed after the incident occurred. The announcement this morning did not mention any specific reason(s) for the TH yet “geotechnical incident at the Company’s Rosemont open pit” became a public knowledge here.
One would expect that options traders are more “in the know” than the average retail holders. If this is a reasonable assumption, the option traders must have expected the SP to be somewhere between the highest EC price and the lowest PC price upon return to trading.
There are so many factors at play. Not many people would give up their position in RRL for a very temporary issue given the macroeconomics and that an announcement in relation to McP is imminent. IMHO, panic selling (if any) will be very minimal. Instead, it could be a window of opportunity for short-covering.
It is very true that those options would have been processed...
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Last
$1.82 |
Change
0.010(0.55%) |
Mkt cap ! $1.374B | |||
| Open | High | Low | Value | Volume |
| $1.85 | $1.85 | $1.80 | $26.27M | 14.14M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 227466 | $1.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 173839 | 7 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| RRL (ASX) Chart |