Phil King from Regal Investments shorted CBA in June $120. He said he is still short and didn't unwind any positions. He must think it will go below $120. Which is more than reasonable because there was no rational reason for CBA to pass $120 in the first place. $120 is when this stock PE ratio is 20 - which is still a very high valuation. Not as ridiculous as 25 times earnings, but still very steep. I know a simple PE Ratio isn't the only way to value a stock, and in some cases its absolutely not the way to evaluate, however for a company like CBA - what other metric would you use other than the earnings ratio and dividend yield?
My put option is now up 250%. However I'm not cashing out yet. The expiry runs until mid-January, which is more than enough time for the SP to further unwind.
Get out while you can. The sell off will continue
Phil King from Regal Investments shorted CBA in June $120. He...
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Last
$132.74 |
Change
-1.870(1.39%) |
Mkt cap ! $222.1B | |||
| Open | High | Low | Value | Volume |
| $133.10 | $133.50 | $132.52 | $200.1M | 1.502M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $132.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $132.83 | 771 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| CBA (ASX) Chart |