This is all set up for institutions to buy puts then sell CBA shares. They are the first to sell & get the top price. Once they start selling, they tell their mates & they start selling. The CBA price starts to go down which makes it a lesser percentage of the index. Index followers are then forced to sell & you have a stampede. HotCopper posters see lower prices & think it is a bargain & buy. Meanwhile, the price continues down & stop orders start going off & more selling ensues. Once it starts it will be very difficult to stop.
The price will ultimately go beyond fair value before the institutions start to buy back in again.
I see no reason why the big sell does not commence after the open on Monday.
CBA Price at posting:
$159.03 Sentiment: Sell Disclosure: Held
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