The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Could be the reason why gold and miners up today. The big banks in USA getting sold off.
93% majority of my CEY position is long. Have a small short above 89p just in case they play games either today or next week. So far the volatility is in our favour today.
What Is Quad Witching?
Quadruple witching is an event in financial markets when four different sets of futures and options expire on the same day.
Futures and options are derivatives, linked to underlying stock prices. When derivatives expire, traders must close or adjust positions. That can trigger significant volume and order flow. The four types of derivatives expiring on quadruple witching are:
Stock index futures contracts
Single-stock options
Options on stock-index futures
Stock index options
Note: Some lists include single-stock futures on the list of quad-witching expirations. However these are relatively small products with minimal impact on the market.
Quadruple witching days are the third Fridays of March, June, September and December. That way, they occur near the end of each quarter in the year. In 2023 they’re on:
March 17
June 16
September 15
December 15
When is Triple Witching 2023? Triple witching is the third Friday of March, June, September and December. In 2023, Triple Witching occurs March 17, June 16, September 15, and December 15
Friday could be a historic day for the U.S. options market, according to a derivatives strategist at Goldman Sachs Group.
As trading in U.S. stock options, especially extremely short-dated zero day to expiration options, continues to boom, contracts attached to $3.4 trillion worth of U.S. stocks, exchange-traded funds and equity indexes like the S&P 500 are set to expire Friday during September’s expiry for monthly and quarterly options, according to the latest figures from John Marshall, head of derivatives research at the investment bank that were accurate as of midweek.
That is on track to be the largest September expiry on record, raising the possibility that markets could finish the week on a volatile note.
In a breakdown of notional value due to expire, Goldman showed that nearly $2 trillion of S&P 500 index options are due to expire Friday morning, while single-stock options with a notional value of $555 billion will expire later in the day, along with a host of other contracts.
In options-market parlance, notional value refers to the value of the underlying securities or indexes controlled by the option. Typically, index options are settled in cash, while options on single stocks and ETFs are settled in shares.
https://tinyurl.com/bdd6awv6
A call option is the right to buy a stock at a specific price by an expiration date, and a put option is the right to sell a stock at a specific price by an expiration date.
https://tinyurl.com/bdw7sfsd
A put option is a contract tied to a stock. You pay a premium for the contract, giving you the right to sell the stock at the strike price. You're able to execute the contract at any point until its expiration date.
Next Friday I think Tony - 3rd Friday this month. - I think!
We can get some crazy volatility on a day like this. Most of the fun can be in the afternoon.
Major stock indexes in Europe traded higher in the premarket on Friday as the European Central Bank's latest monetary policy move remained the main topic among investors. ECB President Christine Lagarde steered away from confirming that the peak interest rate has been reached, stating that the bank is still unsure.
On the data front, traders will be looking out for the euro area trade balance.
The DAX gained 0.49% at 8:00 am CET, while the CAC 40 added 0.17% and the FTSE 100 rose 0.29% at the same time. The Euro Stoxx 50 increased 0.53% concurrently.
The euro was up by 0.11% against the dollar at 7:58 am CET, selling for 1.06544. The pound was 0.15% higher against the greenback and went for 1.24269 simultaneously.
Baha Breaking News (BBN) / AY
Happy Friday y’al
Enjoy your weekend.
Hi Tornado,
Your bedtime story should help naughty MHenderson get off to sleep before eight o clock!
Buffett once said, "You can't have a baby in a month by getting nine women pregnant."
TRANSLATION: Most investments take time to pay off. Shortcuts, business savvy or even superhuman effort cannot compensate for the lack of good planning & patience
It is rumoured that a novice investor put on CEY shorts this week using CFDs at a leverage of 1000 times for every penny moved. Probably to show off how fast they could make a million pounds by having Centamin price drop from 85.5p to 84.5p earlier in the week to daddy after acquiring some of his stuff. After all gold was going down lower. So instead of making a million the professional traders have enjoyed a field day driving the price 3p higher and that leveraged short is rumoured to be £3M in the red. I bet the brokers daddy does business with have been trying to contact daddy all day, but you have muted that phone and enjoyed playing a game with him as where he may have lost his important stuff..
So MHenderson your daddy is not going to be pleased with you and won't make any allowance for your facial acne problem. He won't be impressed with you taking his mobile phone, wallet and using his passwords to set up the naughty trade you did. I think it is best that you tell daddy and confess what you have done. If we do not hear from you again we can guess what has happened. Some of us will check to see if any children on Amazon with the name MHenderson have been put up for sale.
To all the other readers, I repeat it is all an unfounded rumour that CFD 1000 times leverage short position on Centamin was actually taken out It is only a rumour that MHenderson actually did this and this person is a child.
I forget now what percentage of revenue the fine equated to. I seem to recall it being very, very small in the grand scheme of things, though.
I heard someone once suggest that the debt to the original Mr Morgan is still being repaid, after he bailed the US out during the Wall Street Crash of 1929. Entirely tongue in cheek of course and I myself hold no opinion in either direction on such a muse :)
Oct 2020 J.P. Morgan Bank prosecuted for silver price manipulation, but they are still doing iy along with the others banks in 2023!
https://tinyurl.com/mr2xxuwb
See also In August, two out of three former JPMorgan Chase & Co employees were convicted by a federal jury in Chicago after being charged with manipulating gold prices for years. The conviction included charges of price manipulation, spoofing and wire fraud.
"I used to work for banks back in the '80s
. These trading methods are common, and they're endemic throughout the entire system. You know it doesn't tell the whole story.
These trading desks communicate with each other on a regular basis, and it's not just in the silver market. It is throughout all equity markets and all commodity markets," said Neumeyer.
https://tinyurl.com/umrva8ze
Silver underpriced below this interview with Keith Neumeyer CEO covers many issues that are very relevant to anyone invested in Centamin and/ or precious metals
That is generous .
All I try to do is speak the apparent truth, there are too many suppositions on this BB .
people get diverted , but it is clear if you read most of the "News" on mainstrem media it is biased.
They speak of paper Gold price not Physical. Especially the US .
The WW3 which is financial, goes on.
Most Banks worldwide are buying GOLD , why , they are hedging , for "Black Swan" events which is becoming more probable at this time in history. Fiat paper eventually could not buy anything in the commodity markets.
Tommorrow is another day.
You’re a good man Mr.Bond.
Good rise today, tommorrow ,who knows ,no one .
Its a horrible un-predictable market at the moment.
But we live in hope.
Gold SP appears to be making a slight recoveery, against the odds.
Thanks Siko and Tibbs for responding and for the trouble you have taken. - It is much appreciated.. - Under LSE rulings, via RNS, they would have had to report such an incident. -
Hi Everyone, it seems that MHenderson ( I have my suspicions as to his former members handle) is indeed spreading untrue malicious rumours in order to unnerve shareholders, when in fact it seems contrary to this rumour things are going to plan at Sukari!
See the official response from Centamin, please share as you see fit.
Centamin Official reply -
We are not aware of the news you are referring to.
We had a substantial plant maintenance programme scheduled in Q1 this year, which was successfully completed as planned: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4275992&lang=en-GB&companycode=au-cey&v=.
For clarification, the Sukari paste-fill plant commenced commissioning in Q2, not the gravity circuit. The Sukari gravity circuit is in the design phase with a construction decision expected by the end of this year: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4357244&lang=en-GB&companycode=au-cey&v=.
Tibbs
Thank you Siko,it sounds like False and misleading information,which reportable.
Hi Siko,
Great to hear from you, hope that you are well!
Thank you so much for the clarification.
Best
Tibbs
Do you really think that any reputable company should release an RNS because someone made an account a couple of days ago on a bulletin board and wrote that the company had problems, without any source or link?
If so, it would be a joke.
Does that claimant understands the obligations of the company to release such information, especially when it involves stopping production, and it's been more than 10 days ago according to him?
There is absolutely no news whatsoever in Egypt about any issues at the mine, unless the claimant directs us to those (circulating rumours)..
I promised myself to watch from far as a non-holder, but sometimes I can't just keep my promises!!
Siko