For an intraday short (sell at first, buy back at ), STT is charged on the opening (sell) leg and stamp duty on the closing (buy) leg. Using the notation of (1.3), derive the break-even and compare it with the long break-even (1.4) for , . Which is larger, and why is the difference so small?
M01 · Problem 5 ★★ Check
Short-side break-even
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