For Simon re. warrants

[#1]

Simon, how exactly are the bids/offers altered on warrants with relation to price. the reason I ask, I bought 15000 sabsbh @ 47 2 days ago and have my sell order in at 51. The matrix shows 17070 should equal my price of 51 which sab reach a short while ago but only for a few minutes. does it need to break 17070 or does it need to stay there or above for a period of time?

[SimonPB]

it's not a trade at that price required, but the bid (to sell a call) or the offer (to sell a put) has to be in place at that price for the system to trigger. And of course enough volume at the price to cover the hedge.

[#3]

Excuse my ignorance - its friday after all. the matrix has buy 51c sell 52c @ 17070. SAB traded at 17070 for R4.5m when would the market maker meet my 51c order? p.s. you must love answering all these novice questions every day...

[SimonPB]

OK, lets stp back a few paces. You buy a call, the issuers goes intot he market and buys the underying stock. Now matrix says they will buy the call back at 51c whent he underlying is at Rx.xx. All well and good, but it is not a trade at Rx.xx, they have to sell the underlying back intot he market at that Rx.xx price to unwind the hedge from when they sold you the call. So in order for the issuer to be able to buy back your warrants they need a buy in the market at Rx.xx, not a sell that somebody steps up to tade against.