Eros International plc (EROS) was the stock du jour, doing 118,000 trades. It was a super busy day in hard-to-borrow land … I traded eight tickers (BCRX, CYCC, CODX, EROS, INO, NBY, SGRY, VBIV), which is unusual for me — all green, bro, green is green. Now I can fill out my menstruation calendar with no red days, brah.
I paid the bookie 2.25 cents per share ($225 per 10,000) and then two minutes later IB got half a million shares in inventory — argh! IB actually had availability for five of the eight tickers, so that was nice. Paying large amounts of money upfront for a borrow is something only semi-professional gamblers can do … if you’re a small guy still learning the short side, you’ll get eaten alive by the fees.