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| Discuss stuck with short sell. What happens next? at the Stocks & Shares within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi guys, I have a question about a peculiar problem I have. I short sold ... |
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#1
3rd October 2008, 11:33 PM
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stuck with short sell. What happens next?
Hi guys, I have a question about a peculiar problem I have.
I short sold LNT @ 2299.00 on 30th Sept 08. On the 1st of Oct, it fell by more than 50% (bonus issue). Now that my LNT shares going on auction on Monday, what happens next? How much penalty will I have to pay? Not to be highly optimistic but, will I get anything out of this deal?? Last edited by sudeepnaik; 3rd October 2008 at 11:41 PM. 
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kumar_anustock (5th October 2008) | ||
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#2
4th October 2008, 12:26 AM
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Re: stuck with short sell. What happens next?
yes you'll get the profit/difference after auction buyout.
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sudeepnaik (5th October 2008) | ||
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#3
5th October 2008, 01:18 AM
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Re: stuck with short sell. What happens next?
Hi, Thanks for the reply Rizwan. But my broker said I wont be getting anything. He said that the short seller NEVER gets anything. Is it true or is my broker trying to take me for a ride?
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#4
16th October 2008, 11:43 AM
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Re: stuck with short sell. What happens next?
Me too stuck with short sell...short sold 100 ICICI shares @ 412 but failed to cover up...now it goes to auction....
Could somebody tell how the penalty is calculated ...or the entire auction process preferably with an example... What % of the share value will the penalty be... Thanks in advance..
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#5
16th October 2008, 04:32 PM
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Re: stuck with short sell. What happens next?
Quote:
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#6
16th October 2008, 04:51 PM
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Re: stuck with short sell. What happens next?
Quote:
My question is that i short sold ICICI for 412 on monday...and failed to cover up...on the auction day (T+5) if the price of ICICI falls to ..say 375 or so ..would the difference amt paid to me after the penalty... This was told by my broker...just wanted to clarify.... Thanks.
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#7
16th October 2008, 06:04 PM
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Re: stuck with short sell. What happens next?
Did you guys short L&T/ICICI the cash market? Was it naked short? Can't I keep my short positions (in CM) overnight? I don't have experience shorting in CM. I do short in futures only.
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#8
16th October 2008, 06:11 PM
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Re: stuck with short sell. What happens next?
dear xtalk,
you need to cover your cash shorts by the time market closes...futures i bet u know about it. btw i was about to give a link of this discussion to u,probably this is the guy who shorted those lt shares u were mentioning about...  Quote:
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| The Following User Says Thank You to learn2trade08 For This Useful Post: | ||
xtalk (16th October 2008) | ||
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