FactorI think Stokes is still in with his 25M Aug 315 Calls...

Factor

I think Stokes is still in with his 25M Aug 315 Calls where breakeven is approx 325 (he may own more than that now) - open interest for these calls is still 38M - biggest negative open interest move for these calls since NBN deal was announced was 100K on one day

I don't think he would have bought the calls as a hedge strategy as he bought them when SP was under $3 in late May and he knew that there would be a SP pop when NBN deal was announced - ie, he could have sold his call options when they were 27c (he bought at about 9c) as well as any shares he may have owned at the time

I think the whale is still in and has approx $2.5M at risk (which may be loose change to him!!!!) - he has been a player on the TLS register before. Dividend buying needs to start for holding period - I think he will dump his call options as dividend buying kicks in. I think results are announced 12 Aug and XD is 23 Aug.

Interested in anyone elses thoughts