RNX.TO was heavily shorted today, likely deal or PP,data Big surprise. No RNKLF has been lent today, that is the smaller of surprises.
Today IB lent out 16,000 RNX.TO!!!!! About 65% of the RNX I have left after converting rest to RNKLF. My pay is just 10.7% and they charge 23.4% for it, less than half of what they charge for RNKLF. Due to multiplier effect, as under $1, that means I really get about 25% and they pay about 50%
For 7 months they never lent a share of my RNX while often lending 100% of my RNKLF. And IB says there are more RNX shares availible than RNX today to lend. Thought IB never lent canadian stocks, ever, but 2 weeks ago they lent $50 worth of another TSX stock, so that is not the case.
Why oh Why did shorts lend my/out RNKLF for 7 months at more than twice the interest rate than RNX????? They paid me sometimes 1/2 of 1% a DAY!! Well over 100% annual and that means they were paying over 1% a day, as I get just half. Think one day got $210 from RNKLF interest alone. They could of saved bookoo bucks by using RNX instead. Does this indicate stupid shorts? Ah yea it does.
So what happened today? This is valuable data. As someone here guessed today before data, Westgold apparently has shorted RNKLF or the buyers of private placement did. It would account for price drop and volume. They eliminate risk and just deliver shares later (the worst type to sell to). In fact matches about the deposit amount Westgold got. They drive down the price doing so, which will hurt their take, but maybe desperate.
Maybe today makes sense after all. Could not have got better data to back it it up. RNX would have put out RNX shares not RNKLF, and RNX is what got lent and a bunch of it. When is lent it is immediately shorted (sold) hence all the selling.