Short Analysis of Nov 5So looking at the transaction level data from BATS exchanges I have the following information. I think it definitely helps to explain some of the stock movement and resistance levels we are seeing. While all the data on CXRX is in USD, I have included a rough conversion to Canadian (at a closing exchange rate of 1.3164 for yesterday) as CXR trades in Canadian. First, the short volume by price:
| Price in USD | Price in CDN | Short Volume by Price |
| Under $28.00 | Under $36.86 | 0 |
| $28.00 - $28.25 | $36.86 - $37.19 | 100 |
| $28.25 - $28.50 | $37.19 - $37.52 | 1850 |
| $28.50 - $28.75 | $37.52 - $37.85 | 5300 |
| $28.75 - $29.00 | $37.85 - $38.18 | 2430 |
| $29.00 - $29.25 | $38.18 - $38.50 | 900 |
| $29.25 - $29.50 | $38.50 - $38.83 | 1000 |
| $29.50 - $30.00 | $38.83 - $39.49 | 7319 |
| $30.00 - $30.25 | $39.49 - $39.82 | 13446 |
| $30.25 - $30.50 | $39.82 - $40.15 | 22526 |
| $30.50 - $30.75 | $40.15 - $40.48 | 1600 |
| $30.75 - $31.00 | $40.48 - $40.81 | 400 |
| Over $31.00 | Over $35.23 | 0 |
As you can see the short sellers were very active in the $39.50-$40.15 range. Basically stopping short any rally in the stock by selling into it.
And the following indicates short volume by time interval as well as the weighted average shorted price for that interval:
| Time Interval | Short Volume by Time | Av Price (USD) | Av Price (CDN) | | 09:00 - 10:00 | 11584 | 30.26 | 39.83 | | 10:00 - 10:30 | 5850 | 28.99 | 38.16 | | 10:30 - 11:00 | 5950 | 28.58 | 37.62 | | 11:00 - 11:30 | 1298 | 29.49 | 38.82 | | 11:30 - 12:00 | 1601 | 29.98 | 39.47 | | 12:00 - 12:30 | 6233 | 30.24 | 39.81 | | 12:30 - 13:00 | 3895 | 30.41 | 40.03 | | 13:00 - 13:30 | 2200 | 30.47 | 40.10 | | 13:30 - 14:00 | 9700 | 30.27 | 39.84 | | 14:00 - 14:30 | 4660 | 30.35 | 39.95 | | 14:30 - 15:00 | 700 | 30.04 | 39.54 | | 15:00 - 15:30 | 700 | 29.94 | 39.41 | | 15:30 - 16:00 | 2500 | 29.95 | 39.43 | | | | |
Volume was heaviest at the beginning of the day, and increased in the early afternoon as the stock price began to rally.
Keep in mind that this is only the short volume on BATS exchanges, does not include NASDAQ or NYSE, but my guess is the short profile on those would be similar.
I have the raw data if anyone is interested, or can post at more granular intervals.
GL!