Well, as far as I know 11M could very well be a record, I don't recall 15-20M shorts. I do recall 6M undelivered shares though (June 08) and I'm not 100% sure whether these were included in the short count back then (I suppose so, but not sure). If not, then it could have been higher back then.
Here is the situation. The shorts:
- Do not believe IOC can get a deal, or
- They believe IOC can only get a very bad deal, so bad it's not accreditive to the share price, or
- They're shorting more to keep a lid on things and prevent a run-up even before any deal announcement.
None of this makes a whole lot of sense to me but I don't see any other logical option.
IOC clearly believes it can get a deal and even a disappointing one largely de-risks the project and set the time ticker to monetization in motion, not to mention accelerated exploration. Which leaves option three, but that's of the "when in hole, stop digging" kind..
Here is the situation. The shorts:
- Do not believe IOC can get a deal, or
- They believe IOC can only get a very bad deal, so bad it's not accreditive to the share price, or
- They're shorting more to keep a lid on things and prevent a run-up even before any deal announcement.
None of this makes a whole lot of sense to me but I don't see any other logical option.
IOC clearly believes it can get a deal and even a disappointing one largely de-risks the project and set the time ticker to monetization in motion, not to mention accelerated exploration. Which leaves option three, but that's of the "when in hole, stop digging" kind..