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China may default |
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China may default -- Theme - (247 Byte) 2005-11-18 周五, 11:36 (687 reads) |
PHM
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头衔: 海归中校 声望: 学员
加入时间: 2004/04/04 文章: 326
海归分: 53001
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作者:PHM 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
There is one month left before the contract expiry. That rogue trader shorted about 10k contracts, based on the number of tons of copper needed for delivery, as reported. That's ~1/10 of ave. daily volume on LME. Big deal. If there is any sense of crisis management at SRB, they could have covered it quietly without any fanfare.
With the obvious short sqeeze in place, they could just bite the bullet, and cover it at a loss on the order of $250mm. Painful, but not fatal and $250mm wouldn't sink SRB. In the end, it's OTM.
作者:PHM 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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China may default -- Theme - (247 Byte) 2005-11-18 周五, 11:36 (687 reads) - That lawyer is clueless, so are the SRB folks and the reporter. -- PHM - (531 Byte) 2005-11-18 周五, 12:51 (226 reads)
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