Your first sentence is not correct. You may remember I tracked shorts everyday after the December announcement.
The shorts occurred BEFORE the Ann. And it took about 20 days for them to drop to a very insignificant number after the Ann.
Hedging is probably what's occurring.
The only other rational option is pure gambling on a poor result for Anglemens. (Not that you or I would call that rational).
But large insto's do need to protect themselves.
Let's face it, if the results are excellent and they have to cover it means the SP moves North. And they still win.
The SP suppression I am convinced is due to accumulation.
Kens could probably answer this, but I would not be surprised to learn that 20% of the company has changed hands this year via slow accumulation at a suppressed price. The magic price appears to be $20
NEU chart, page-1757
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 (20min delay)
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Last
$20.52 |
Change
0.660(3.32%) |
Mkt cap ! $2.622B | |||
| Open | High | Low | Value | Volume |
| $20.00 | $20.66 | $19.94 | $6.431M | 315.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1024 | $20.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.53 | 285 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| NEU (ASX) Chart |