BTE still has 25 million shares shortedAt the month-end BTE still had 25.6 million shares shorted. Don't know the average price of all the shares shorted but 11.5 million shares were shorted at lower prices than the closing and would be underwater.
Shorting oil stock like BTE when the oil prices are spiking is a bad idea and can become expensive. At some time those 25 million shares will be covered. When the stock and the sector is tanking the short position is a concern but during the recovery, it is fuel for the fire.
A large number of institutional investors are still on the sidelines. The herd is still chasing and is caught in the growth/tech stocks. It is now wait and see when the institutional investor and the herd get the attention of the oil sector.
OPEC and Russia have learnt a lesson the hard way and if they continue to play the cards right then we are at the beginning of a serious run. Nothing goes up straight by when the economies open up and airlines start to fly the oil is going to have a big run because the supplies are very tight. The glut in the markets is gone. US production is down and will take time to ramp up.
We are also entering the era of the commodities supercycle and devaluation of US . Inflation is coming and the price of commodities are going up. Tech stock will take it on the chip and the money will finally move into commodities and. rotation will take place.
Short Positions for BTE
| T : BTE | 2021-02-28 | 25,668,712 | -102,715 | 561,227,367 | 4.57 |
| T : BTE | 2021-02-15 | 25,771,427 | 5,187,857 | 561,227,367 | 4.59 |
| T : BTE | 2021-01-31 | 20,583,570 | 5,488,985 | 561,227,367 | 3.67 |
| T : BTE | 2021-01-15 | 15,094,585 | 560,382 | 561,162,632 | 2.69 |
| T : BTE | 2020-12-31 | 14,534,203 | -2,666,384 | 561,162,632 | 2.59 |
| T : BTE | 2020-12-15 | 17,200,587 | -897,437 | 561,162,632 | 3.07 |
| T : BTE | 2020-11-30 | 18,098,024 | 517,758 | 561,162,632 | 3.23 |
| T : BTE | 2020-11-15 | 17,580,266 | -816,037 | 561,162,632 | 3.13 |
| T : BTE | 2020-10-31 | 18,396,303 | -1,367,948 | 561,162,632 | 3.28 |
| T : BTE | 2020-10-15 | 19,764,251 | -118,059 | 561,162,863 | 3.52 |
| T : BTE | 2020-09-30 | 19,882,310 | -15,857,418 | 560,545,252 | 3.55 |
| T : BTE | 2020-09-15 | 35,739,728 | -1,665,422 | 560,545,252 | 6.38 |
| T : BTE | 2020-08-31 | 37,405,150 | -1,260,527 | 560,545,252 | 6.67 |
| T : BTE | 2020-08-15 | 38,665,677 | 1,866,739 | 560,545,252 | 6.90 |
| T : BTE | 2020-07-31 | 36,798,938 | -3,387,495 | 560,545,252 | 6.56 |
| T : BTE | 2020-07-15 | 40,186,433 | 1,984,018 | 560,545,252 | 7.17 |
| T : BTE | 2020-06-30 | 38,202,415 | 2,110,447 | 560,545,252 | 6.82 |
| T : BTE | 2020-06-15 | 36,091,968 | -1,025,132 | 560,545,252 | 6.44 |
| T : BTE | 2020-05-31 | 37,117,100 | 2,040,856 | 560,463,475 | 6.62 |
| T : BTE | 2020-05-15 | 35,076,244 | -633,722 | 560,463,475 | 6.26 |
| T : BTE | 2020-04-30 | 35,709,966 | -6,508,749 | 560,463,475 | 6.37 |
| T : BTE | 2020-04-15 | 42,218,715 | 2,436,168 | 560,463,475 | 7.53 |
| T : BTE | 2020-03-31 | 39,782,547 | -21,427 | 560,463,475 | 7.10 |
| T : BTE | 2020-03-15 | 39,803,974 | 2,321,929 | 560,463,475 | 7.10 |
House Positions for C:BTE from 20210305 to 20210305 | 1 Anonymous | 11,227,914 | 16,390,046 | 1.46 | 9,339,048 | 13,607,145 | 1.457 | 1,888,866 | -2,782,901 |
| 82 Stifel Nicholas | 2,355,882 | 3,437,490 | 1.459 | 540,441 | 787,543 | 1.457 | 1,815,441 | -2,649,947 |
| 39 Merrill Lynch | 243,200 | 357,341 | 1.469 | 93,800 | 138,188 | 1.473 | 149,400 | -219,153 |
| 33 Canaccord | 659,450 | 966,659 | 1.466 | 546,113 | 798,104 | 1.461 | 113,337 | -168,555 |
| 89 Raymond James | 107,884 | 156,349 | 1.449 | 17,054 | 24,195 | 1.419 | 90,830 | -132,154 |
| 13 Instinet | 327,765 | 478,315 | 1.459 | 283,780 | 414,751 | 1.462 | 43,985 | -63,564 |
| 73 Cormark | 42,200 | 59,924 | 1.42 | 0 | | 42,200 | -59,924 |
| 74 GMP | 34,000 | 48,780 | 1.435 | 0 | | 34,000 | -48,780 |
| 56 Edward Jones | 14,360 | 21,449 | 1.494 | 0 | | 14,360 | -21,449 |
| 68 Leede | 10,900 | 16,241 | 1.49 | 0 | | 10,900 | -16,241 |
| 70 Manulife | 10,000 | 14,880 | 1.488 | 0 | | 10,000 | -14,880 |
| 124 Questrade | 233,252 | 345,425 | 1.481 | 225,605 | 329,944 | 1.462 | 7,647 | -15,481 |
| 5 Penson | 10,097 | 14,718 | 1.458 | 6,705 | 9,719 | 1.45 | 3,392 | -4,999 |
| 8 Eight | 2,000 | 2,820 | 1.41 | 0 | | 2,000 | -2,820 |
| 48 Laurentian | 2,000 | 3,000 | 1.50 | 0 | | 2,000 | -3,000 |
| 59 PI | 11,000 | 15,410 | 1.401 | 9,400 | 13,536 | 1.44 | 1,600 | -1,874 |
| 36 Latimer | 11,364 | 16,510 | 1.453 | 11,300 | 16,562 | 1.466 | 64 | 52 |
| 212 Virtu | 302 | 436 | 1.444 | 506 | 746 | 1.474 | -204 | 310 |
| 15 UBS | 0 | | 1,000 | 1,460 | 1.46 | -1,000 | 1,460 |
| 76 Industrial Alliance | 1,600 | 2,288 | 1.43 | 4,400 | 6,532 | 1.485 | -2,800 | 4,244 |
| 143 Pershing | 2,000 | 2,980 | 1.49 | 5,000 | 7,340 | 1.468 | -3,000 | 4,360 |
| 19 Desjardins | 233,120 | 340,864 | 1.462 | 240,427 | 353,137 | 1.469 | -7,307 | 12,273 |
| 57 Interactive | 125 | 180 | 1.44 | 15,250 | 21,854 | 1.433 | -15,125 | 21,674 |
| 14 ITG | 12,627 | 18,946 | 1.50 | 36,000 | 52,200 | 1.45 | -23,373 | 33,254 |
| 80 National Bank | 292,562 | 427,202 | 1.46 | 335,621 | 488,142 | 1.454 | -43,059 | 60,940 |
| 72 Credit Suisse | 500 | 725 | 1.45 | 62,400 | 91,425 | 1.465 | -61,900 | 90,700 |
| 53 Morgan Stanley | 64,300 | 92,968 | 1.446 | 172,177 | 249,149 | 1.447 | -107,877 | 156,181 |
| 88 Credential | 142,317 | 209,007 | 1.469 | 266,565 | 394,898 | 1.481 | -124,248 | 185,891 |
| 85 Scotia | 1,159,774 | 1,695,351 | 1.462 | 1,308,687 | 1,922,872 | 1.469 | -148,913 | 227,521 |
| 9 BMO Nesbitt | 713,437 | 1,045,121 | 1.465 | 913,519 | 1,336,063 | 1.463 | -200,082 | 290,942 |
| 77 Peters | 50,000 | 75,000 | 1.50 | 500,000 | 711,949 | 1.424 | -450,000 | 636,949 |
| 79 CIBC | 4,415,664 | 6,442,763 | 1.459 | 5,124,904 | 7,478,869 | 1.459 | -709,240 | 1,036,106 |
| 2 RBC | 1,658,809 | 2,419,451 | 1.459 | 2,479,327 | 3,630,341 | 1.464 | -820,518 | 1,210,890 |
| 7 TD Sec | 3,123,319 | 4,584,345 | 1.468 | 4,634,695 | 6,816,323 | 1.471 | -1,511,376 | 2,231,978 |
| TOTAL | 27,173,724 | 39,702,984 | 1.461 | 27,173,724 | 39,702,987 | 1.461 | 0 | 3 |