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+--- Thread: InterOil short interest surprise (/showthread.php?tid=1105)
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InterOil short interest surprise - Gator - 07-12-2012
The end of June short interest figures are out. The short interest in InterOil fell for the first time since the mid February reporting period. The short interest was down to “only” 8,579,811 from a whopping 9,961,425 shares short in the mid June period. The 1,381,614 shares that were covered by the shorts from June 12 to June 26 (trade date) accounted for 19.14% of the total volume during that 11 day trading period. Not coincidently, the share price of InterOil went from $58.04 to $70.61 (up 21.65%) during the lasts reporting period.
On a related note, Richard Chandler Capital Corporation made three acquisitions of InterOil stock during that same 11 day period totaling 297,287 shares. He only bought IOC stock only on the 3 days the volume was over 1 million shares (June 18 to June 20). The short covering and RCCC buying accounted for 23.26% of the volume.
RE: InterOil short interest surprise - admin - 07-12-2012
Thanks Gator, although for me the real surprise is that not more shorts are covering
RE: InterOil short interest surprise - Palm - 07-12-2012
Trading absolutely locked up; never seen it this tight for so long first thing in AM. No shares changing hands. Very strange
RE: InterOil short interest surprise - Gator - 07-13-2012
In the past 14 days, the highest volume day was just under 700,000. The average volue has been just under 400,000 a day. It is strange to see a NYSE stock with a $3+Billion market cap, have a $2 bid/ask spread on the open. Very strange indeed.
RE: InterOil short interest surprise - Daveontb - 07-13-2012
The rate shorts are paying to borrow shares dropped from 15% to 13% last week.
RE: InterOil short interest surprise - Gator - 07-13-2012
(07-13-2012, 04:06 AM)Daveontb Wrote: The rate shorts are paying to borrow shares dropped from 15% to 13% last week.
Interesting. Down 37% YTD plus a double digit negative rebate. I can see why some shorts covering. Down 50% in the first half of the year. At that rate they will be out of money real soon.
RE: InterOil short interest surprise - Libtardius Maximus - 07-13-2012
My experience has been that when volume dries up a short attack is imminent. I hope that is not true this time around.
RE: InterOil short interest surprise - admin - 07-13-2012
How about a 'long attack,' Lib?
RE: InterOil short interest surprise - Libtardius Maximus - 07-13-2012
Admin,
For that to happen we would need to see some volume in excess of daily average.
RE: InterOil short interest surprise - admin - 07-13-2012
I'm not so sure about that. If the float dries up, it cuts both ways. All it needs is another Chandler type to pick up some slack.
