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Biggest size at reasonable levels is 30k in two pieces 105 ask
OAC - sizes are moving around. Still typically quite small at best levels on both sides but definitely more upside liquidity ATM
I stopped watching it in the end but did see well over 200k get taken not in one clip but mainly in decent size (plus a few small pieces). Market then got bid and did not see what happened to the rest
I'm sat watching it OSG - it's getting filled
Anytime Cong. Yes the FCA publish shorts >0.5% daily by the shorter and the share. They also show the history
https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx
This is picked up by various websites including this one where it is easier to see
Cong - there are currently two reporting hurldles (I) tell the FCA when 0.1% short and (II) tell the market when 0.5% short
(I) is increasing from 0.1% to 0.2% and (II) is going away completely
As such the regulator will have less visibility to shorts and we will have none
Am I getting confused or have a series of largish trades dated yesterday just shown on the blotter?
FWIW I agree with you SBB
Just to add based on volumes, I would estimate that Qube would need over a week to work the buys on the open market
https://www.londonstockexchange.com/stock/THG/thg-plc/trade-recap?page=7
Let’s say daily volume of 4mm, 50-50 buy sell split. - 2m buys a day. That’s a fairly extended period of pain to close the short in a market that is being bid even if Qube account for all buys….
Soletraderbl1 - it’s very hard to analyse with any degree of precision but let’s say (conservatively)
1.3bn shares in issue
Qube short 0.9% = 11.7m shares assuming published short based on issued shares
That is going to be painful to close. I don’t mean their PL but actually doing it given the published trading volumes. They are relatively thin with quite a small free float
It does beg the question who they borrowed the shares from to deliver the short
IMO - please correct me if wrong
Just to add another point - I opened an IG spread betting account over the weekend just to have a look.THG is not tradeable (position reduction only) as others have posted. Whilst I can’t be certain I thought that Kelso was tradeable yesterday. It is not now, closing only, same as THG. This makes sense from their perspective - (1) from what I have read here Kelso is in essence highly correlated to THG given its investment in THG and (2) I would not fancy risk managing a wave of leveraged client buys in such a thin market in THG
IMO of course
Is anyone able to confirm when Kelso got closed to spread bet activity on IG?
*tradeable not traceable
Are those traceable levels HH? I see firm prices on Barclays wider than that although tighter than what level 2 is showing live. When I said it looked wide I meant the level 2 as I was typing. These levels seem odd to me half way through the session. Are the market makers being wary?
This is my first ever post but have been in THG for a while and building recently. Yes trading is a little thin atm but the spread is peculiarly wide imo. At times over 3%
DYOR GLA