re: Brambles - Puts...
Nickoo - my hat's off to you, nice call last month.
Meanwhile a good article in Friday's AFR on BIL (plc).
The theme is that the hedge funds are ganging up on BIL (plc) is an attempt to drive the price down enough to knock BIL out of the Footsie. Seems they are shorting the UK listed stock in great numbers, and buying the Aussie listing - hence the UK-Aust spread has blown out to previously unknown levels (10%+).
Read they only need BIL (plc) to drop another 2% and the stock is out of the FTSE100..
SSB private client research advises that stocks that drop out of the FTSE typically lose 20% withing a month of the announcement.
In a nutshell, if BIL is knocked out of the FTSE at the Dec quarterly review, then the hedge funds will make a killing. If not .........................?????
(wouldn't it be nice if the BIL board announced a share buy-back at the 25/11 AGM, and stick it right up the anus of the hedge fund vultures !!!!)
BIL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
