Short interest in Schlumberger
Short interest in Schlumberger (SLB) as a percentage of its float was 1.4% as of November 29, 2017, compared to 1.5% as of September 29, 2017. Since September 29, short interest in SLB has fallen 6%. So, investors have cut negative bets on Schlumberger since September 29. As noted in the graph below, SLB’s stock price and short interest as a percentage of float have largely been inversely related since November 2015.
Did crude oil price affect investors’ sentiment?
Short interest in Schlumberger’s peers
Since September 29, 2017, short interest in Oil States International (OIS) has risen 10%, while OIS’s stock price fell 10%. Short interest in Superior Energy Services (SPN) has risen 10% since September 29, 2017, while its stock price fell 14%. So, investors reduced negative bets on OIS, while they increased their negative bets on SPN. Short interest in Key Energy Services (KEG) has fallen 2% since September 29, while its stock price fell 23% during this period.
Next, we will discuss Schlumberger’s implied volatility.