BHP Group Limited
NYSEBHP Group Limited hit 100% utilization on April 21, matching its 52-week high. All available shares to borrow have been lent out. Utilization measures how much of the lendable supply is on loan. The metric swung sharply in recent sessions. It stood at just 79.61% on April 14 before spiking to 100% by April 20. The stock has now maxed out for two consecutive trading days. Short interest totaled 15.18 million shares as of March 31, down 15.8% over the past month. Days to cover sits at 3.94. Cost to borrow averaged 1.58% APR on April 21, down 23.3% month-over-month but up 10.5% week-over-week. The volatility in CTB mirrors the tight borrow conditions. BHP shares closed at $77.69 on April 21, down 2.4% on the day but up 19% over the past month. The mining giant reports earnings on April 26 at 6:30 PM ET. Put/call ratio registered 0.77 on April 21, slightly above the 20-day mean of 0.72. The ratio has climbed steadily from a 52-week low of 0.58 hit in late March. Maxed-out utilization signals tight supply in the borrow market. Short sellers looking to establish new positions face limited availability. Existing shorts may face recall risk if lenders pull shares. This is not financial advice. Data may be subject to error.
BHP Borrow Runs Dry as Utilization Maxes Out
BHP Group Limited hit 100% utilization on April 21, matching its 52-week high. All available shares to borrow have been lent out. Utilization measures how much of the lendable supply is on loan. The metric swung sharply in recent sessions. It stood at just 79.61% on April 14 before spiking to 100% by April 20. The stock has now maxed out for two consecutive trading days. Short interest totaled 15.18 million shares as of March 31, down 15.8% over the past month. Days to cover sits at 3.94. Cost to borrow averaged 1.58% APR on April 21, down 23.3% month-over-month but up 10.5% week-over-week. The volatility in CTB mirrors the tight borrow conditions. BHP shares closed at $77.69 on April 21, down 2.4% on the day but up 19% over the past month. The mining giant reports earnings on April 26 at 6:30 PM ET. Put/call ratio registered 0.77 on April 21, slightly above the 20-day mean of 0.72. The ratio has climbed steadily from a 52-week low of 0.58 hit in late March. Maxed-out utilization signals tight supply in the borrow market. Short sellers looking to establish new positions face limited availability. Existing shorts may face recall risk if lenders pull shares. This is not financial advice. Data may be subject to error.
A new long-form analysis for BHP this week — anomalies vs the company's own history, peer comparisons, news context, and the full data picture. Premium subscribers only.
Read on ORTEX →Sign up for premiumA split signal has emerged on BHP. Every share in the lending pool has been lent out for weeks. Yet options traders just turned their most bullish in a year. Availability on BHP has been at or near 0% since late April.…
Snapshot as of 6 May 2026
BHP Group heads into its May 3 production results with its lending market the most stressed it has been in a year — a quiet but meaningful signal of rising short-seller conviction. Availability has effectively reached…
BHP heads into its May 3 production report with short sellers meaningfully rebuilding positions and the borrow market running at full stretch — a notable setup for a stock that has quietly recovered 12% over the past…
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