West Texas crude got a 1.34% lift on Thursday and settled at $46.10 per barrel, giving energy stocks a boost.

The SPDR S&P Oil & Gas Equipment & Services (XES), which tracks an equal-weight index of drilling hardware and services, was the among Thursday’s best-performing exchange-traded funds. It rose nearly 3%. While other energy stock-tracking ETFs such as iShares U.S. Oil Equipment & Services (IEZ) and VanEck Vectors Oil Services (OIH) also made the cut, SPDR S&P Retail (XRT) edged them out. It climbed 2.3%.

But isn’t retail dead? There’s a suite of leveraged and inverse ETFs being prepared under that very premise.

Brean Capital‘s Peter Tchir pointed out in a client note sent this afternoon that the short interest on SPDR S&P Retail was 19…