The fall did effect my decision, I was going to put $15k when the price was $37 but it went down, so I only brought $10k
I put the other in BSL as the % was alot better but I applied for alot, probably get a massive scale back!!
MQG - Macquarie Group
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I put the other in BSL as the % was alot better but I applied for alot, probably get a massive scale back!!
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Looking on CommSec this morning I saw this in the course of sales for MQG. Could someone explain what it means with the share price showing $86.00 which has no relation to the current price.
Trade of MQG occurring on Thursday, 04 Jun 2009
Time Price Volume Value Condition
07:05:20 AM 86.000 1,000 86,000.00 EP
Trade of MQG occurring on Thursday, 04 Jun 2009
Time Price Volume Value Condition
07:05:20 AM 86.000 1,000 86,000.00 EP
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Those early morning trades are option assignments, in your example one $86 put option. ( 1 contact = 1000 shares)
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Cutz
I am new to the share market. Does this mean that a trade was done at $86.00 and if so why such a high amount
I am new to the share market. Does this mean that a trade was done at $86.00 and if so why such a high amount
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It sure was, the proud owner of the 86 strike put exercised his/her right to sell 1000 MQG shares to the unfortunate soul who was still short an 86 strike put contract.
Hope that makes sense, maybe check out the options threads if you like.
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To add a bit more to cutz has said:
Person A would have bought a Put Contract (which gives them the right but not the obligation to sell 100 MQG shares for $86 at some future date).
Person B sold the put contract to Person A hoping MQG would not drop in price and therefore makes $$$ without really having to do anything.
Obviously the price has dropped and Person A can sell his shares using the Put Contract at $86 regardless of the current price.
Also even though this transaction went throught and shows up in the course of sales it wont reflect/impact the current market price of MQG
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Investorpaul & Cutz
Thank you for your information it has been great, it has also shown me that I have a lot to learn.
Thank you for your information it has been great, it has also shown me that I have a lot to learn.
MQG shares have now been allocated. You can check computershare to confirm you got your full allocation.
40% of eligible investors took up the offer, though only 1/3 of total amount was applied for.
There was no scaleback.
Shares will be available to trade next Friday 12 June.
I thought there would be a scaleback. I either underestimated the stupidity of the average retail investor or overestimated their capacity to get their hands on $15k. Once again the spoils go to the few.
40% of eligible investors took up the offer, though only 1/3 of total amount was applied for.
There was no scaleback.
Shares will be available to trade next Friday 12 June.
I thought there would be a scaleback. I either underestimated the stupidity of the average retail investor or overestimated their capacity to get their hands on $15k. Once again the spoils go to the few.
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What do you mean moreid, you're sounding like Margaret Jackson. I haven't been following but a 40% takeup sounds a little weird.
Are you suggesting this was an offer that couldn't be refused, bit like the APA deal ??
The how was I able to sell them today?! lol, I hope I didnt do something I wasnt meant to!
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Allotment day was yesterday Friday 5th June, once the shares have been allotted can't you sell them already or do you have to wait until next Friday?
The SPP had the best risk/reward profile I have seen. I'm suggesting that it was an offer that should absolutely not have been refused by retail share investors, yet 60% of eligible shareholders refused it.
Julia
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Doesn't the fact that 60% of eligible shareholders refused indicate that MQG is still regarded in the relatively high risk category? i.e. that people might hold some of this but be reluctant to increase their holding?
You could sell these shares today and do not have to wait until Friday. These companies have the right to change the dates at their discretion.
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Sure about that? The announcement on the 11th May has 12th Jun as the Trading date.
Cheers
filling chars...
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Yeah my colleague at worked just dumped his new holdings this morning for just over $40, I can't believe they are trading this high.
I am looking to go short now I think, tomorrow a large amount of people who think you had to hold till Friday will be selling but yeah who knows I am just speculating.
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Hey, sorry to keep digging this up, but that person could have just dumped he pre-existing shares? I think you are allocated the shares, but cannot trade them yet.
http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00958927
The MacQuarie Stings, click me!
** for the record. If they prosper by reinventing themselves as some kind of new vampire, this will serve as a good reference.
** for the record. If they prosper by reinventing themselves as some kind of new vampire, this will serve as a good reference.
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You have to hand it to the MacGrabsters.
MAP unitholders have been ripped off since day one for management fees paid to Macquarie Group. Now MQG are kindly going to allow MAP to run their own affairs and the "piss off you thieving bastards" payout is only $345 million!
In the article, Stuart Washington asks the question "Were the listed specialised infrastructure funds one big joke?" Well it looks like MQG are laughing all the way back to their own bank.
This has to be the final grab by the MacMasters of Bleed. Surely, one day they must run out of willing donors to bleed dry.
