@PICT, I read your straw on 'Bear Case' for Woodside.
if you are bearish on a stock and looking for a way to profit from a decline in value you can BUY a PUT OPTION on the ASX. You can do this on Commsec as you do for a share trade, however you need to do their training and be approved to start trading options. I don't know if NabTrade offer this.
I have copied below a brief outline of how Put Options work. You can read more about Shorting stocks versus Put Options on this link Investopedia. Happy to help out if you have any questions about options. There is also a good overview by Bear in this thread. My experience has mostly been on the long side, ie.Selling the Put Option.
Put Options:
Put options offer an alternative route of taking a bearish position on a security or index. When a trader buys a put option they are buying the right to sell the underlying asset at a price stated in the option. There is no obligation for the trader to purchase the stock, commodity, or other assets the put secures.2?
The option must be exercised within the timeframe specified by the put contract. If the stock declines below the put strike price, the put value will appreciate. Conversely, if the stock stays above the strike price, the put will expire worthlessly, and the trader won't need to buy the asset.
I have a basic understanding of what options are; however, I am curious as to why a company would include a Top 20 holders of options page in their Appendix 3b? I was aware they had to include a Top 20 holders (which they haven't done) but why for options? It was my understanding options were traded on the secondary market and this would not involve the company.
Are these options issued by the company? Does that mean if they're exercised they'll cause dilution?
Thanks in advance.