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Strategies & Market Trends : Thai Funds
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To: Heretic who wrote (54)1/16/1998 1:17:00 AM
From: peter michaelson  Read Replies (1) of 107
 
Reed -

I think this can happen because although the premium has increased as you say, the NAV has fallen more. John's profits would depend upon when he shorted.

The premium has quintupled since late June 1997, but the NAV is 25% of what it was then - $11.80 in early July to about $2.96 today. The price has gone from an intra-day high of $20 in early July to a low of $5.25 last week.

Personally, I'm getting hurt by this amazing TTF premium, but feel it must be short-lived. In fact, I plan to short some more shares tomorrow.

And, yes, they are still available to short (as of last week, anyway).
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