The amount of short sales is very high yesterday. Today WBC is now at its lowest point for the month.
I pull this chart from Yahoo Finance. Yesterday, the volume was about 20.6 million shares and about 1/4 were sold shorts. For Nov alone, it dropped about 16%. While I am happy playing long this stock, I can fully appreciate why many others are sweating. Those who trade on margin loans would be sweating. Yes, if you have the fund to get it, and it recovers by 17 Dec and you sell your shares back to Westpac having replacement shares already in your pocket then it's a win in every way on the tax front and investing front too. Your nominal tax loss will offset your CGT on the shares that you will get a profit. Your franking credit will give you some extra.
The amount of short sales is very high yesterday. Today WBC is...
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Last
$32.10 |
Change
-0.200(0.62%) |
Mkt cap ! $110.7B | |||
| Open | High | Low | Value | Volume |
| $32.37 | $32.44 | $31.87 | $150.8M | 4.698M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1365 | $32.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.11 | 15284 | 1 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| WBC (ASX) Chart |