Zero options traded in Ozzie today. Big spread between sellers and very few buyers.
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Zero options traded in Ozzie today. Big spread between sellers and very few buyers.
woow, I did not expect it to happen this soon, down to 6.5 now.
unfortunately it now looks like Tui rerating, Kupe production flows, Momoho surprise and Pike first coal all arrive too late to rescue the options. So, what to do - join the dumping queue, or sell other shares and pick up some cheap NZO's via options? Mmm, difficult choice
option dumping is only part of a plan by a big fish to get a large stake in NZO.
i have never seen a sp held or dragged back as hard as this one before.
some one has very deep pockets to repres the sp of NZO now that it earns almost a mill a day.
IMHO i see all the options converted and a new player sitting at the boardroom table come july.
I don't understand how a a big fish dumping options is going to get a big steak?
The fact is that there aren't many buyers out there. Volumes on the head share are low, and there are lots of people selling options that they can't or don't want to convert.
[QUOTE=temptation;204064]I don't understand how a a big fish dumping options is going to get a big steak?
QUOTE]
Fish steaks?!
More like whitebait fritters tonight, it seems.
Some great buying opportunities as conversion time approaches and there is a mad scramble to find cash that just isn't there.
And a notable "disconnect" (to use some horrible present-day jargon) between the positive reaction to today's PRC announcement and the NZO prices. People just don't seem to be making the connection. The market really does throw up arbitrage-type opportunities.
Temptation there are buyers out there! How do you explain 2.7 million plus through today, the stake building theory has a bit of merit in my opinion.
Anyone wanting to get into this stock now should do so by purchasing the options.
.052 cents versus $1.57.
Has the selling frenzy of options been created through every holder getting their letter today?
I suspect there may be some money made on options in the next week or two.
This is fun to watch unless you are a trader or you cannot afford to convert your shares.
Looking at some of the parcels going through, clearly traders are getting confused and other investors and/or traders are having some fun. I expect at an average of around 4m to 5m options being traded daily from now on over the next 2 or 3 weeks. Or around 60m to 80m options traded by 23rd June.
discl. Money ready to convert if need be
Shouldnt be any difficulty getting into nzo through the options at a good price tomorrow-at close trade buyers only after 619,000 shares and 6,845,411 for sale .
At this price would pay to get in quickly-look what happened to PRC today- jumped nearly 20cents in last hour trading after the $300 /ton announcement-which we all have known would be the minimum price .Price of Tapis is still over $170 nz but appears to make no difference to nzo sp
In my opinion the next quarterly annoucement in july is likely to give nzo a much greater kick . In the meantime the nzo price will be kept down by the option selling until the reserve upgrade -which may not be announced before the options cease trading .