These have just been released (Jan 29th 2014) by CITI.
http://www.asx.com.au/PDF/14-006CTW.pdf
Would be very interested in anyone's take on these products.
My reading of the pdf is that a trade on the SRXKOB is closed out if the price falls to $12.65. There is a carry cost of 9.5% (calculated daily which is 10% PA).
Does this mean that for $2.52 plus 10% PA, you could have a 2 year run for about $3, plus the strike price of $11.88. So the SP would need to be above $15.
Looks wrong to me - what am I missing here??
ASX web site:
SRXKOB
Description: CITIWARRANTS 11.8778 SRX MINI LONG
Type: Call
Issuer: CITIWARRANTS (CGMA)
Commenced trading: 29 Jan 2014
Expiry: 31 Dec 2029
Exercise level: 11.878 (expressed in $ or index points)
Warrants/Structured Products per underlying instrument: 1.0000
Exercise style: American
Warrants/Structured Products issued: 140,000
Product Disclosure Statement
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17.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $74.27M |
Open | High | Low | Value | Volume |
17.5¢ | 17.5¢ | 17.5¢ | $22.96K | 131.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1191118 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 1771371 | 37 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1191118 | 0.175 |
6 | 2608822 | 0.170 |
1 | 18186 | 0.165 |
1 | 11500 | 0.135 |
1 | 2577 | 0.097 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 1771371 | 37 |
0.185 | 66827 | 5 |
0.190 | 228822 | 9 |
0.195 | 20478 | 2 |
0.200 | 427416 | 7 |
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