I did, no bueno!You should contact your CFD guys to see if you can participate in the BTT sell down
The market did tank, and tank all day...I picked WOW as a bit of a second day play to try and find some downward momentum...pretty bad choice! I should have removed the short bias and acknowledged the support at $26.30 then maybe I could have made some money long.Traded long today but barely made anything. The market was hammered and hammered some more. Very hard to hold the long in the face of the that. I was a pretty weak hand too!
Financial sector is smoking me this week...AMP/IFL
Crazy period for pairs this month.
After getting hit on 2 profit downgrades (QUB and NEC), I scored a trifecta today.
Had a 3/4 size short on SEK
SKE/PRG going into trading halt
and a nice ANN downgrade selloff
Of course, I took profits too early as usual... but still nice to have the chips fall your way for a change.
You still in this?
NICE! I am short SEK from open, will see how we go there.Crazy period for pairs this month.
After getting hit on 2 profit downgrades (QUB and NEC), I scored a trifecta today.
Had a 3/4 size short on SEK
SKE/PRG going into trading halt
and a nice ANN downgrade selloff
Of course, I took profits too early as usual... but still nice to have the chips fall your way for a change.
NopeYou still in this?
Glad to hear, I only managed a double, happen to short full size SEK and IFL. Looks like IFL is in trading halt now, will it drop further? I don't know, I'm out
Glad to hear, I only managed a double, happen to short full size SEK and IFL. Looks like IFL is in trading halt now, will it drop further? I don't know, I'm out
Nice. I am long IFL now... entry not to different to current price.
I read the long expose' last night and thought they'd be hit 3-5%. They lost some $600m in market cap, but knowing ASIC they'd probably be fined $2m at the end of a 3 year investigation. A 20% fall seems like an overkill.
It's only a directional trade however... will stop reasonably tight.
One thing I am unsure of, however, is whether the reputational damage affect some of their funds in terms of insto flows.
I almost had a IFL long with my pairs so sort of dodged one here.
Nice. I almost had a IFL long with my pairs so sort of dodged one here.
I am long IFL now... entry not to different to current price.
I read the long expose' last night and thought they'd be hit 3-5%. They lost some $600m in market cap, but knowing ASIC they'd probably be fined $2m at the end of a 3 year investigation. A 20% fall seems like an overkill.
It's only a directional trade however... will stop reasonably tight.
One thing I am unsure of, however, is whether the reputational damage affect some of their funds in terms of insto flows.
Pretty much all out now. What a range for the day! Didn't do nearly as well considering the range on offer.
Back on pairs, VOC is to pay a special div to those on the register on the 29th June - so would I be correct in saying that you had to exit today to avoid paying this on shorts?
This one has been very tricky to trade without much chance to jump in and out - alot harder than FDC/NVN was. Both can go very thin, especially AMM, and because A and V open at different times trading the open is not safe. Looks like holding through to implementation will be the easy way out here!
let's hope SKE/PRG will be easier
Yes, looking forward to seeing the terms on that one.
You trading the IIN/TPM play?
Another day, another wild range. FLT this time! Managed to trade it both ways for a profit...although not smiling too much as I hold this one in the SMSF
I have a small position on this... probably some lingering issue from ACCC, but it doesn't apepar to be a show stopper.
Nice work. I like how it basically ran $4 down so smoothly. I didn't trade the up leg however.
IIN/TPM or TPM/IIN? (long leg first)
IIN is trading at a premium to both $9.55 and the script offer as far as I know.
IIN/TPM. The script deal is 0.969 TPM per IIN, plus 75c dividend. So that's $9.82 per IIN at last TPM close of $9.36.
There's also ~26c franking credits.
So IIN about 1.4% under the offer without considering the franking credit.
Or am I delusional? (Entirely possible as I have averaged 5 hr broken sleep in the last 2 weeks)
0.55 PRG shares and 25c cash (reduced by any SKE divs). More generous than I was expecting.
This should certainly be accepted by SKE holders.
Nice trade available on the open...PRG hasn't fallen at all, actually it has risen. Given the non-certainty of the deal and the time premium SKE is trading at probably a fair level at 1.71.
If the deal falls over it would be SKE falling too 110-130 level, so some sizeable downside here to keep in mind.
It's a done deal. It has SKE board apporval already. The only thing that can derail it is if SKE comes out with a big profit downgrade (entirely possible).
With expected completion around mid Oct (<4 months away)... a <2% gap should be about right. The franking is worth another 10c as well.
Looks like some arb opportunity for AMM/VOC still at market close!
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