There has been rampant speculation that Transocean (NYSE: RIG) will cut its dividend and as of Tuesday, short interest in that stock was 15%, according to the Journal. Other oil services names with elevated short interest, each hovering around 13% of shares on loan are Diamond Offshore (NYSE: DO) and Noble (NYSE: NBL), reports the Journal.
OIH, the largest oil services ETF, allocates a combined 7% of its weight to Transocean, Diamond Offshore and Noble. The ETF has shed 34% over the past three months.
Market Vectors Oil Service ETF
