CBA 1.15% $80.69 commonwealth bank of australia.

re: Nervous day for holders ... arthur

  1. 5,816 Posts.
    Hi arthur ... still in play and I did enter 'pre-reversal' ... on 11/11/02 when CBA was $26.52 into CBAWOM at $0.008 (I/Vol 31.25%)

    Now, this morning CBA opens and moves up to $27.58 or up $1.06 (+4.0%) on the Monday's entry point.

    CBAWOM showing a Bid of $0.006 or DOWN 25% on my cost (should have been $0.01889 for 136% profit) and the rest for the day go thru at $0.005 or DOWN 58% on the previous close of $0.012. Showed $0.004 before returning to $0.005.

    Stock up 4.0% ... Warrant down 58% ... in simple terms, I should have been up $1800 not down $800 ...

    Citibank have screwed me for $2600.00.

    CBAWOM (at I/V 31.25%) has a crunched FAIR VALUE at Close today $0.01355 or up 69.4% on my purchase price.

    It was a carefully thought thru trade according to my strategy and risk profile ...

    I have been watching CBAWOM for awhile now and Citibank have been good with I/Vol and spread ... too bad they decided to pull a sh*tter now ...

    Traders accept small changes to I/Vol by MM's ... however, Citibanks CBAWOM I/Vol 31.25% to 26.00% in 24 hours is a complete rip-off sh*tter ...

    I did make mention of CBAWGM (it only issued on 08/11/02) as a value pick for later as it has a 03/03/03 expiry and I/Vol of 21.86%.

    Tomorrow is another day ...

    Seems pointless crunching the value Warrants and posting them here as HC's are only liable to get ripped-off by Issuers ...

    I might use BC instead to microscope Issuer's sleazy behaviour and as I did in the case of HDR (Macs I/Vol 120% ... HDRWMA/B) and expose potential rip-off's.

    It is time the ASX intervened and set some rules governing the blatant manipulation of Warrant Market which make a joke of BSOPM modeling which even according to ASX guidelines is there as the CONFIDENCE reference for all.

    Cheers ...


    This is only my view ... read the red stuff.
 
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