Farmer Fred is spot on. The shorting is only related to hedging the bonds and has nothing to do with trying to keep the sp near the reset level. Many of the bond holders will hedge their delta exposure to the stock as their main interest in the bond is its coupon. Quite frankly I am surprised that there isn't a much higher short interest in HZN as the combined delta of the bonds is many multiples greater than the outstanding shorts. I also know that any sophisticated investor wouldn't want to be short an HZN when they've got a half billion dollar asset sale in the works, first oil in China to come and possible inclusion in the ASX200. At least I wouldn't be that brave!
Farmer Fred is spot on. The shorting is only related to hedging...
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Last
19.0¢ |
Change
0.005(2.70%) |
Mkt cap ! $308.8M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.0¢ | 18.5¢ | $105.2K | 561.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 53 | 1324119 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 181448 | 7 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| HZN (ASX) Chart |