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NICKEL NEWS, page-425

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Cpago55

2,511 Posts.

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16/03/22

12:52

Post #: 60224160
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Originally posted by zebster: ↑

It's important to understand that TS's OTC short Ni positions with its bankers and any need for TS to find the cash to pay for magin calls relating to adverse movements in their NP bet is a matter between themselves. JPM electing to extend credit in exchange for suitable security from TS is what bankers do. JPM should by now be acutely aware of the risks they are taking and one would like to think they have obtained sufficient lending security buffer.

To the extent that JPM has laid off its risk by hedging in LME futures means that it's JPM, not TS, who is on the hook for the associated LME margin calls, which JPM will have covered by now.

The real question/issue now is whether the TS/JPM bet against rising NPs is an accurate reading of the big picture or a massive misjudgment of a fundamental shift in Ni pricing dynamics.

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A question i am confused by zeb. If you dont mind elaborating given your background in futures.

How has JPM covered the ni short by now? If LME was closed how have they covered that risk?

What are their options to lay off the risk?

POS Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $16.81M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.4¢	$3.474K	884.0K

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No.	Vol.	Price($)
121	96597061	0.3¢

Sellers (Offers)

Price($)	Vol.	No.
0.4¢	51477989	56

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No.	Vol.	Price($)
111	93529221	0.003
38	66812489	0.002
16	35378697	0.001
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.004	50650142	48
0.005	28729993	19
0.006	7638997	9
0.007	1668099	8
0.008	1800000	1

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