I got a SMALL parcel of Oppies too @ 10.22.32am today - as part of 5 trades totalling 2.175m @ 4.8 to 4.7.
Note : Oppies of ALL stocks are NOT traded on the CBOE (CXA = exchange code).
And as for the last of those 5 trades - of 1.9m @ 4.7 - IMO it was by 1 astute
day trader, who has probably 2 accounts, & is thus
buying from & selling to him/herself, many times a day.
I'm only holding Oppies - no heads - and note that the price differential
during the day - between the heads and the oppies - hovers ~ 3.1 to 3.2 - which is
higher than what I see as what should be the intrinsic value diff. i.e. of
less than the 3.0 cents Exercise price, because of the time to expiry being 12 months+, on 30 June 2026.
I also note, that the price differential
at the end of the day 9 times out of 10 is 3.2! Again I think this occurs as a result of this 1 trader constantly manipulating his trades' prices.
Last night though the heads finished @ 8.0c and the oppies @ 5.0 so I put in an overnight bid @ 4.8 (i.e. 3.2 below the heads close). And sure enough I got them on the 4th !! trade of the day. Luck ? or "good thinking # 1".
I say all this to those of you interested in leverage - which I don't think the big boys do.
At the moment, and at today's closing prices,
using the price diff. of 3.2 between the heads & the oppies,
that leverage means you can buy 1.6 times as many Oppies, as heads, for the same outlay.
(i.e. the cost of 100,000 heads @ 8.5 (= $8,500) = that of 160,000 Oppies @ 5.3)
Note though that when inevitably the heads get to that wall @ 10.5
the leverage benefit drops to 1.43 i.e you can only buy 1.43 times as many Oppies as heads, for the same outlay. (i.e. the cost of ~ 81,000 heads @ 10.5 (= $8,500) = that of ~116,400 Oppies @ 7.3) .
Perhaps many? of you lost my drift half thru this maths lesson?
Have a look at my Post #:
79480331 @ 15.44pm yesterday on this Thread.
Given the volatile situation in the Middle East right now - and the need for the US to source whatever antimony they can get hold of near term for their weaponry - IMO TMG's SP climb to firstly 10.5 will not be far away.
Anything less than 10.5 will IMO be a bargain buy price, hence my sentiment to that effect.
