BIT 2.11% 9.7¢ biotron limited

News: Biotron's Hep C drug candidate phase 2a tri, page-13

  1. 828 Posts.
    lightbulb Created with Sketch. 111
    re: News: Biotron's Hep C drug candidate phas... Giddy, your reasoning is logical and I suspect a few people are doing just this and that is one of the reasons why the sp is holding down. If you have shares and options and intend to exercise them it makes sense to sell enough of the normal shares to cover the cost - as long as the difference between selling the shares and paying the 10c + option price is positive.

    So my guess is there are people who paid 2c for options attempting to sell at .13 or .125. This tends to hold the price down and has a feedback into the price of options which are always going to sell a little under the going price of shares less 10c. In this scenario, it's unlikely many will sell under .125 as they won't get much if any gain with their options at current levels. It's also unlikley buyers are going to be attracted to pay any more as they are just going to wait for these kinds of sales and pick the shares up relatively cheaply.

    Result - stagnation.

    Imo, it would likely pay people selling for this reason to hold off for a while. They'll do much better!

    I'd be a buy except for this.
watchlist Created with Sketch. Add BIT (ASX) to my watchlist
(20min delay)
Mkt cap ! $66.68M
Open High Low Value Volume
9.5¢ 9.8¢ 9.4¢ $227.3K 2.363M

Buyers (Bids)

No. Vol. Price($)
6 386999 9.6¢

Sellers (Offers)

Price($) Vol. No.
9.7¢ 57809 1
View Market Depth
Last trade - 14.02pm 28/05/2020 (20 minute delay) ?
0.002 ( 1.06 %)
Open High Low Volume
9.4¢ 9.8¢ 9.3¢ 530848
Last updated 14.18pm 28/05/2020 (live) ?
BIT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.