doesn't Macquarie have to sell those WPL puts to cover itself?
Yep. And they have...
WPLWMR
Description: MACQUARIE BANK 1350 WPL PUT WARRANT 24-OCT-02
Type: Put warrant
Issuer: MACQUARIE BANK LTD.
Commenced Trading: 17 May 2002
Expiry: 24 Oct 2002
Exercise level: 13.500 (expressed in $ or index points)
Warrants per underlying instrument: 4.0
Exercise style: European
Warrants issued: 20,000,000
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doesn't Macquarie have to sell those WPL puts to cover...
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