Member Info for PDS2023

Would love to know how many institutional investors you actually know but sure, the tone of comment tells me you have little/no evidence to back about majority. Other than the share price falling which isn't a reflection of anything in the future.

Please breakdown majority as percentages PP1? And if you are constantly talking about the buys/sells (averaging less than 1% of the total float), how can you make a general view of the 'majority' when you are not seeing the majority trade?

In your opinion..... PP1

Just like in my opinion, the risk adjusted return profile here is strong.

What rate is it currently to borrow shares if you don't mind me asking?

@ bon_scott

What rate is it currently to borrow shares if you don't mind me asking?

@ bon_scott

Again, you have misinterpreted how this works, similar to the options conversation I had yesterday. If borrowing rates are low, its because the demand for borrowing them is low (simple supply and demand). This actually implies there is less short demand out there (at least on your platform), the opposite of your conclusion. If demand for shorting increases, the borrowing rate will rise and suck in potential lenders to satisfy that demand. That is not the case here.

I don't think the current share price action reflects anything apart from uncertainty. The people that have conviction are already long, the shorts have their positions and the rest are just thinly trading this daily, probably allowing the larger owners to accumulate more and ultimately benefit if the share price recovers. Between now and the TU the only certainty is volatility.

Reasoning? Seeing some liq on L2 screens?

I think the market has overpriced the headwinds for sure, which from a macro perspective is a tailwind now for the business and ultimately share price performance. We just need to see management execute on their strategy now, I have faith but would like to see some concrete evidence now of how recent changes have impacted the business positively. If we see both fewer headwinds and strategy outperformance, this share price is off to the races.

Thanks for posting Oke, super useful read.

30% of the UK have a mortgage and a larger proportion own their homes without a mortgage. The reality is of that 30% more than any time in history people have fixed for 5yrs or longer, around 60% of mortgage holders. So yes if you were unlucky enough to fix for less than 5yrs then you are seeing higher rates, but that is split over a few years. In fact, the worst off are renters (20% of the UK rent), because landlords that have BTL mortgages typically fix much shorter and hence have seen massive increaess in mortgage costs. BUT unlike owner occupied you pass those costs on in the form of rent and with terrible tax rules you need to ask for even more to make you net payments attractive. Whilst mortgage rates have increased by 4-5% for the landlords, renters have been charged 10-15% more! Renters are really footing the bill for the economy, not mortgage payers.

I am long and am positive on the UK retail sector, more so because how much negative sentiment and expectations have been priced in. But, today excl the two retailers that reported positively, the market is lower post the Fed and we have the BoE decision in a few hrs. Being down in line with market without any new data for Boohoo specifically is probably fine. Let's see what the BoE news brings but suspect it will be same as before, tighter conditions to tame inflation which is falling faster than expected but with a job not yet done. I think just getting over the hump of one more hike will help domestic stocks.

But selling put options means you want to add those shares so it's far more likely he is not happy than is no?

That view doesn't really resonate with his physical share purchases and his "emotional" view somewhat irrelevant here, rather the dynamics of options and how they work.

PP1 again you are showing your complete lack of understanding of how options work. The option seller doesn't have the right to do anything, it is the option buyer. In the past if MA has purchased the shares via short puts it is because the put buyer was "in the money" ie the stock price < strike price and hence was exercised, forcing MA to purchase those shares at the strike price. This time, the strike price > stock price, hence the option buyer didn't exercise and MA didn't get his share fill (sadly for him I am sure).

And one more point, options are not super liquid in the UK, espec in mid cap space. There may not have been demand to buy put options on ASOS and hence wasn't able to roll the full expired option sale amount into new strikes/tenors. Not saying that is the case but if it is also shows there is less bearishness in option space than is being assumed here.

And PP1 you should also write honestly about the situation at ASOS, options are a tricky business but trying to show that MA has less interest in ASOS vs before using option expiry as the reason is 1) poor judgement 2) misleading.

The options expired, and given he sold put options even if it were true, he would have had to re-purchase the options in order for his voting rights to fall (can't sell a position you are already short)

And you can't just convert options into shares unless you are ITM (as option buyer/vice versa for the seller), which means the strike price was likely lower than the current price.

He has however sold a few more options at later expiries.

What needs to be firmly acknowledged here is at current prices MA's ownership of Boo and ASOS is identical c10% of physical shares in each. The option play in ASOS is a further accumulation strategy at lower prices (if we see them). Ironically, him not rolling the entire Sep 23' put option sale into further expiries actually means he is more bullish than when he struck them.

Brilliant it cut off half my post.....

can Boohoo get

Taking back to fundamentals, whilst the customer base did fall by 2mm over 22-23' financial year, question here will be can Boohoo get