Jupiter split hits strike price as FTSE 100 falls

The FTSE100 index has already dipped below the strike price of the £100m put option purchased by Jupiter Dividend & Growth split-capital investment trust earlier this month. Jupiter last week revealed the strike on the option was 3,350, which the index fell below on 12 March when it fell 5% to 3,277.5. The market has since recovered some ground but remained only 6.5% above the 3,350 level in early trade on 14 March, when it read 3,569.3. The option is exercisable only at maturity on 18 March 2005, but any fall in the index below the strike price leads to a concurrent increase in the...