To me it is counterintuitive to see value in getting options with a strike price of $1.25 (i.e. $0.35 upside to current SP) but selling heads?
It's not a perfect assumption, as it doesn't take into account, an 'arbitrage' or personal reasons for selling (rather than company outlook). I think we already observed the sell-down for these reasons last week.
Unless I am missing something, shows the market is sitting on the fence, but definitely not rejecting the new strategy. Perhaps waiting to see if Race lives up to its promises between now and June!
RAC - Charts & Price Action, page-18287
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Last
$1.94 |
Change
0.000(0.00%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.95 | $1.95 | $1.84 | $647.3K | 344.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3300 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.94 | 5654 | 2 |
View Market Depth
| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |