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We Are Close To 2,700
28 Jan 10

The STI managed to rebound in the first half yesterday, but selling pressures set in soon after lunch and the index majors led the index to fall 1.2% and close at 2,706.3....

Genting – still seeing strong selling pressure
Genting plunged for a second consecutive day, tumbling 5.5% dod to close at a four month low of $1.04. The stock dived 9.1% dod on Tuesday. This came after Genting announced on the SGX that it will mandatorily convert S$450 million of bonds into ordinary shares at the Conversion Price of S$0.95 on 9th February 2010. Investors fearing the potential share dilution sold off the shares heavily the past two days.

Call warrant GentingSPMBLeC100401 (I3UW) exercise price $1.10.*

Call warrant GentingSMBLeCW100621 (J2NW) exercise price $1.20.*

Long dated GentingSMBLeCW120402 (J2UW) exercise price $1.15.*


Investors still jittery on CapitaLand
CapitaLand continued to face strong selling pressure for a 5th consecutive session. The stock tumbled 3.1% dod and closed at $3.74 yesterday. Over the past week, the stock has dived 14.6%.

Over this period of time, investors holding put warrant CapitalaMBLePW100402 (JC2W) exercise price $3.80 saw their warrants gain 128.0% week-on-week (wow), and investors holding put warrant CapitalaMBLePW100604 (J6NW) exercise price $4.30 gained 71.9% on their position.

Put warrants allow investors to profit from declines in underlying share prices.

In line with the plunge in CapitaLand’s share price, call warrant CapitalaMBLeCW100601 (J1ZW) exercise price $4.10 fell 62.6% wow, while long dated call warrant CapitalaMBLeCW120103 (JA7W) exercise price $4.10 fell 35.1% wow.

Longer dated warrants generally have lower gearing levels, and lower rates of time decay.

 

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