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Linn Energy, LLC (LINE) Message Board

  • yelyacs yelyacs Feb 7, 2013 2:27 PM Flag

    big rise in short interest

    short interest has doubled last month and is 5 times that of a year ago, so looks like shorts are driving price down

    put/call ratio also been steeply rising last couple weeks. There is large open interest in april, july and Jan 35 puts. Hard to know of those were "bought" (bearish) or "sold" (bullish) but in light of large rise in short interest, I started thinking shorts are targeting 35- which of course is the low end of recent trading range, LINE bottomed at 35 several times last year

    the LINE shorting is not general to upstream MLP's as QRE and MMLP short interest has not been rising

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    • You may also want to look at days-to-cover which really did not move much.

      From nasdaq website:

      1/15/2013 5,460,759 1,870,777 2.918979 12/31/2012 3,546,151 1,548,920 2.289435 12/14/2012 2,593,511 1,146,748 2.261622 11/30/2012 3,128,270 831,946 3.760184 11/15/2012 2,875,901 1,580,853 1.819208 10/31/2012 3,549,502 838,631 4.232496 10/15/2012 3,467,592 1,312,120 2.642740 9/28/2012 3,348,611 721,171 4.643297 9/14/2012 3,306,308 674,535 4.901611 8/31/2012 3,340,217 614,434 5.436250 8/15/2012 3,389,650 787,740 4.303006

    • LNCO short interest likewise been spiking, also up almost six fold last month as of most recent update 1/15- who knows if the shorts held through the distribution (with the consequent bill to pay the distribution) but I'd bet the big runup into the distribution could have been, in part, shorts not wanting to pay out the distribution covering, with the shorts piling back in after ex-Div

    • but stock TA website saying support with most technical confluences is 36.83 so not sure now is time to buy puts, although candlestick pattern put in a "sell confirmed" signal yesterday...

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