turbo warrants -input folks please

They caught my eye as well amory ,
So I will post this up maybe we can get a few replies from some members
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I attended an interesting Citigroup seminar recently, where they are promoting a thing called Turbo Warrants. a very interesting variation on the option/ warrants theme. minimal time decay, delta nearly 1, all very mouthwatering stuff. there must be a catch in it somewhere....
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http://www.citiwarrants.com.au/turbo_warrants.html



http://www.citiwarrants.com.au/turbos.html




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Turbo Warrants
A new generation of investment products
What are Turbos?
Turbos are a new breed of ASX listed warrants being offered by CitiWarrants and are available over a broad range of indices and listed securities, with the choice of both call and put warrants. Turbos allow you to participate almost dollar-for-dollar (i.e. approximately delta 1) in the performance of the underlying share, after taking into account any conversion ratio, without having to pay the full up-front cost of the share.

In addition to regular Turbos, CitiWarrants also offers Turbo “Stop-Loss” warrants. These are Turbos with a rebate, an inbuilt “stop-loss” mechanism to protect you from unexpected adverse movements in the underlying index or share.

*Further information on Turbo Warrants is available in the relevant Offering Circular or Product Disclosure Statement (PDS), it is strongly recommended that investors read this document in full, including the terms and conditions and the section on risks.