Am only a small trader of shares but now am interested in Citi put warrants. Been looking at how they operate and noticed some substantial changes in the strike price over a short period of time. Looked at puts for JHX on Friday, with a strike price of $26.57 and share price about $21.23. On Monday morning strike price had changed to $24.84 with share price about the same. This is large decrease in the value of the MINI.
Can someone please explain why this happens?