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11/1/16

Catching up with the Filipino Pair Trade

On September 27th, the day the President "GodToldMeNoSwearing" Duterte government of The Philippines announced that 20 mines were under audit and threatened with a licence revoke and closure, we noted the drop in two of the companies affected by the announcement, B2Gold (BTO.to) (BTG) and OceanaGold (OGC.to) in this post, which ended:

"...a decent pair trade looks like long BTO/short OGC from here."

That was then and this is now, the other side of October so check up and see how things are going with that pair:
  • On September 27th, OGC closed at $4.05. Right now it's at $4.08, up 0.7%
  • On September 27th, BTO closed at $3.38. It's now $3.99, up 18.0%

Any further questions?