Sell @ $10.36
Contra off both recent buys, no more left. US FED created a positive reaction today, decided to take profit and free up cash…. 😀
OCBC @ $10.26
OCBC @ $10.28
Buy @ $10.28
Itchy fingers, went to jump-Q during 9am matching… dropped to a low of $10.25 when it opened… I felt the urgency cos' last week, when I failed to jump-Q for UOB at $22.48 by 1ct, it subsequently rebounded (closed $22.70 today)… 😀
I ought to consider keeping it for longer term as Banks will likely benefit from Rate Hikes…
OCBC @ $9.67
Sell @ $9.67
Amazing… I managed to sell at the day's low, during 9am matching! Closed $9.80, +18ct! 😀
No more left as I only bought once. The whole world was mostly very positive during our Deepavali holiday yesterday, due to possible Euro QE pogram. However, US retraced somewhat last night. I was therefore not expecting STI to be too positive, bearing in mind the fears since last FED Mtg + next mtg is in a few days' time. Looks like I was very wrong….
OCBC @ $9.60
Buy @ $9.60
A new addition to my portfolio. Jump-Q at 5pm matching for 2ct drop… Looks like many fearful sellers aound!
No studies done… Just follow blind faith on our local banks to be strong as they're more conservative than the US & Euro banks… Plus, banks will benefit from interest rate rise (from HLFin reverse experience ie Profits kept declining with interest rate). My reference price is $10.15 before it xall (1-for-8 Rights @ $7.65 ; Div 18ct) last time ie $9.71 xall. Long term or short term also can… 😀
OCBC Rights @ $2.05
Sell @ $2.05
Contra off. Prices were weak today. When it recovered and hit my breakeven of $2, I monitored for quite a while and was just about to put into the Sell Q @ $3.02 when a suddenly surge in buying pushed it to $2.05. Closed $2.07 ; Range $1.945 to $2.08 ; Vol = 7,275,000.
With that, I have done a reset. Monday will be a new day. Have to take note that the last day for Rights Trading is 9-Sep (Tue)… 😀
OCBC Rights @ $1.9875
Buy @ $2.01, $1.965
After the reset yesteday, I have the opportunity to start afresh today. There was a sharp drop when mkt opened and after I bought @ $2.01, it gradually weakened for the rest of the day. This time round, I have more free cash and will be able to sleep better… plus, I can do one more buy on further declines… 😀
OCBC Rights @ $2.00
Buy @ $2
Quite scary to see it drop so much after I'd preiously bought at $2.15. After buying, almost got a heart attack to see it drop to a low of $1.935. Unfortunately, I don't have enough free cash (need to also set aside $7.65 /share to exercise) to buy more to average down…. 😀
Sell @ $2.13
Prices started to recover when it was closer to 5pm. I calculated my average breakeven to be $2.08 (for the two buys) and put in a sell order during 5pm matching. It was matched at $2.13. With that, I have done a reset ie. no more OCBC Rights. Can start afresh again tomorrow… 😀
OCBC R @ $2.15
Buy @ $2.15
Itchy fingers. Buy OCBC Rights on the 1st day of it's listing. Last day will be on 9-Sep-14 (Tue). Exercise Price = $7.65
There's a gap of 3-5ct with the Mother Share (OCBC) and for a while, both volumes track each other very closely.Perhaps, the Arbitrage Gap is wide enough for the bigger players to do an Arbitrage ie. Sell OCBC shares and Buy OCBC Rights, equal numbers. This would make sense to those who are already holding OCBC shares for long term purpose. The transaction costs must also be lower than the Arbitrage Gap.
In my case, $2.15 OCBC R => $$9.80 OCBC or $10.25 "call' (Div = 18ct ; 1-for-8 Rights @ $7.65). Definitely not as good as the $10.15 I didn't act on. Further, a different strategy is being tried out. 😀