Those short sales could have easily been an option holder locking in a price. If the SP goes up, they convert options to shares and return the shares to the lender.
If the SP goes down the shorter holds off converting their shares, buys back in for a profit and still has the upside of the free options and convertible notes, but made a trading profit.
A third alternative is they were testing the strength of buying at these levels, so would cover without much of a loss and hold off in converting their options because of the buying strength.
Who's selling?, page-136
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Last
$3.06 |
Change
0.040(1.32%) |
Mkt cap ! $9.210B | |||
| Open | High | Low | Value | Volume |
| $3.04 | $3.12 | $3.02 | $47.88M | 15.58M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 321604 | $3.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.07 | 269930 | 12 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |