if you are a major investor and you told by "BMO" on july 14 2009 that they will offer you COTT shares 5.35 u.s .the price of COTT shares then was between 6$ and 8$,what would you do? 1-sell short those shares at 6to8$ on july 27 or prior. 2-wait until you receive the shares on 08-11-09 at 5.35 then sell them at the market price. i think the 9 million shares were shorted buy the investors between july 14 and july 27 (check the volume) at 6to8$ for a profit of 1.50$ to 2.50$ per share. what do you think ?