Jurek
"CLL short position never increased to over 9M .As per last reporting period Jan31/2008 short position was 8,070,276.
I don't have access to a short reports SO I depend on what others post....This is what I've found.
SymbolExchReport DateVolumeChange
| CLL |
T |
2008-01-31 |
8,070,276 |
-343,600 |
| CLL |
T |
2008-01-15 |
8,413,876 |
-77,406 |
Assuming the apparent bi-weekly reports then according to the above report the CLL short position around Dec 31st was 8,491,282.. I'll dig some more but I'm quite sure I remember the short position went over 9 million.
"If you read the study you are referring to you would conclude that majority hedging activity takes place just before and short time after the issue is closed".
Actually I did read the study and yes it did say exactly what you stated in your post about the 20 days.
"Although I don't necessarily believe this to be the case with CLL, one can see how it may apply.."
And if you'd read my post I never said it applied to CLL, I said one can see how it MAY APPLY.
