Why this matters — Three distinct ORTEX data points have aligned on ONCY (Oncolytics Biotech Inc.) within a single session. Borrow utilization near its 52-week peak, a rising cost to borrow, and call-skewed options activity are firing simultaneously.
Borrow utilization at 94.17%. Available shares to lend are nearly exhausted. Utilization hit 100% on four separate days in the past month — April 6, 15, 17, and 20. The 52-week peak is 100%. Today's 94.17% reading keeps ONCY in acute scarcity territory. The utilization rank sits at the 2nd percentile, meaning almost all stocks in the universe have easier borrow conditions.
Cost to borrow at 15.94% APR. CTB rose 14.4% week-over-week. That weekly jump follows a period where CTB reached 29.6% in mid-March. Elevated and climbing borrowing costs make new short positions increasingly expensive to initiate or maintain.
Put/call ratio at 0.0333 — calls dominate. The PCR stands 2.0 standard deviations above its 20-day mean of 0.0308. The 52-week PCR low is 0.0099 and the high is 0.1634. The current reading reflects sustained call-side interest relative to recent norms.
Insiders have been consistent buyers. Ten separate insiders — including CEO Jared Kelly, CFO Kirk Look, Chairman Wayne Pisano, and CMO Thomas Heineman — all bought shares in February and March 2026. Net insider purchases over the past 90 days total 433,882 shares, valued at approximately $388,000. No insider sales appear in the recent trade history. Short interest itself has declined 14.5% over the past month, now at 5.7% of free float. The ORTEX short score stands at 68.7. An earnings event is scheduled for May 8, 2026.
Utilization has repeatedly touched 100% over the past 30 days. This is not a one-day spike. It reflects a persistent structural tightness in ONCY's borrow market that has been building since at least mid-March.
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