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Top 25 Most Shorted NYSE Stocks As Of October 15

Tyler Durden's picture




 

The most recent short interest report by stock indicates that the most hated name on the NYSE by a large margin continues to be Citigroup, whose 404 million shares short as of October 15 were an 0.8% increase from two weeks earlier. Not surprisingly, two of the top five names in the top 5 are ETFs, which are broadly used by hedge funds for nothing else but to hedge long book positions. The SPY and the IWM were at the 2nd and 4th position, respectively, although both saw a decline in their short interest which was to be expected in a time when the overall market was continuing to surge (it is of course unclear whether the offsetting single names that made up the hedge were sold off as well, and what the delta on the trade would have been, and, most importantly, how profitable it may have been). Ford and Qwest round out the top 5 names. Other notable names in the top 25 include XLF at 6th, Paulson darlings BAC and MGM at 7 and 9 (both of which saw their short interest collapse by 19.5% and 11.9%, respectively, even as maintaining a BAC short would have paid off more than handsomely into the EOM).  The two names which saw the biggest increase in short interest were Alcoa and the VXX. And while some have made an issue over XRT's SI being more than 5 times its shares outstanding and float, check out the KRE Regiona Banking ETF: it has a short interest of 50 million which happens to be over 15 times its daily volume, and about 7 times it outstanding stock. Gotta love the logic of ETF share creation.

Full list below:

Source: NYSE

 

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Mon, 11/01/2010 - 18:23 | 691786 mynhair
mynhair's picture

Buying a couple o'thou shares of C at close tomorrow.  3.96 sounds good.

Mon, 11/01/2010 - 18:36 | 691809 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I don't get it.  Buy something just for the sake even though you know that it is crap in a bag?  Catching breaks in stocks on short is the same with gold and silver but at the end of the day (and there will be an end day) at least I know what I got in my bag.

Mon, 11/01/2010 - 18:45 | 691830 Sudden Debt
Sudden Debt's picture

Crap? It's part of the foundation of America!

And what about BAC? Short interest decline -19.5%! That is a jackpot waiting to ring and deliver. I've loaded up on BNP BAC MAY 15 warrants today, and I just know I'm going to make a killing on them.

 

Mon, 11/01/2010 - 21:42 | 692152 hedgeless_horseman
hedgeless_horseman's picture

Leave a space at the top for the new GM.

Tue, 11/02/2010 - 03:42 | 692584 Sudden Debt
Sudden Debt's picture

It will take some time before options become available for that one.

Otherwise shorting that pig would be a goldmine :)

Mon, 11/01/2010 - 20:15 | 691991 New_Meat
New_Meat's picture

short squeeze baby.  QE gonna light a fire?  short flare, I'm thinking, then poof. - Ned

Mon, 11/01/2010 - 20:58 | 692065 nmewn
nmewn's picture

"short squeeze baby"

Sure looks like likely candidates. Just like a good long position...get there fustest with the mostest ;-)

Mon, 11/01/2010 - 21:37 | 692142 New_Meat
New_Meat's picture

My son is watching and learning--we had a discussion about "short squeeze" tonight.  We'll see after the Fed "message".

I hope that you  and yours are doing well.

- Ned

Tue, 11/02/2010 - 07:03 | 692668 nmewn
nmewn's picture

Hope you & yours are well also.

We are surviving. There is no viable alternative ;-)

Her's (insurance) seems to be picking up. Mine (can't say) is doing ok, although very slow.

I see Bwaney's in a bit of a panic up there...as for us, we're about to get rid of an old egg sucking blue dog who went against the peoples wishes once too often.

Take care...and as they say up in Chicago...vote early & vote often...LOL.

Tue, 11/02/2010 - 07:51 | 692688 New_Meat
New_Meat's picture

Bielat (another Misguided Child) is doing pretty well against the old sod.  My wife just back from voting, steady stream of people (a little unusual for mid-term).  Looks like even us Massholes are kinda' fired up.

- Ned

Tue, 11/02/2010 - 18:33 | 694464 nmewn
nmewn's picture

"Looks like even us Massholes are kinda' fired up."

Cool.

And I would never consider you a Masshole...that's usually reserved for folk around here ;-)

Mon, 11/01/2010 - 18:30 | 691799 Mont Bleu
Mont Bleu's picture

This list should include Outstanding Shares and the Short/Outstanding ratio

Mon, 11/01/2010 - 18:34 | 691805 Bill Lumbergh
Bill Lumbergh's picture

Was about to post the same...without that the numbers lose their relevance.

Mon, 11/01/2010 - 18:35 | 691808 dark pools of soros
dark pools of soros's picture

context? we talkin bout context??

Mon, 11/01/2010 - 18:34 | 691804 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Shorting volatility?  oops

Mon, 11/01/2010 - 18:36 | 691806 Cruel Aid
Cruel Aid's picture

Mynhair,

I've been in and out of C a few times at the 3.9 level this year . I have never been confident about it, but it is range bound for now. It is like buying a widget stock. WTF is it really, a bank or a flaming bag of crap.

Mon, 11/01/2010 - 18:44 | 691827 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

+FBOC

Mon, 11/01/2010 - 18:44 | 691826 RobotTrader
RobotTrader's picture

Go to Yahoo! Finance and under "Key Statistics", you can find short interest, % float sold short, days to cover, etc.

Here's the data for Ford:

http://finance.yahoo.com/q/ks?s=F+Key+Statistics

Mon, 11/01/2010 - 18:56 | 691840 prophet
prophet's picture

Any good links to how short interest can legally be greater than outstanding stock would be appreciated.

Mon, 11/01/2010 - 19:20 | 691879 kaiserhoff
kaiserhoff's picture

If it's not illegal, it's legal.  At least, that's the way it was back in the day when laws mattered. 

Aside from net position limits per entity on exchanges, there are few restrictions on size.  Excess usually brings its own reward.

Mon, 11/01/2010 - 19:54 | 691955 kaiserhoff
kaiserhoff's picture

Sorry, I misread your question.

The big boyz, and their traders, can short on a "best efforts" approach, as opposed to actually borrowing the shares, ie no one gives a rat's ass.  Can't do it retail. 

Also see cross reference:  SEC as a bunch of useless ass-wipes;)

Mon, 11/01/2010 - 19:21 | 691883 max2205
max2205's picture

I guess market makers are holding these shorts because I get no shares available to borrow whenever I try to short these

Mon, 11/01/2010 - 19:24 | 691890 max2205
max2205's picture

How in the fuck does the SEC allow more shorts than the float. What a bunch of stooges! That's like the float being greater than total outstanding.

Naked longs anyone

Mon, 11/01/2010 - 19:41 | 691930 ratava
ratava's picture

i would go long texas instruments if i played in the casino

Mon, 11/01/2010 - 20:01 | 691958 Waterfallsparkles
Waterfallsparkles's picture

It really seems like the low hanging fruit gets shorted to its ultimate death.  I guess that is because that is where retail investors are. There is no one to defend the stock.

Once they get a stock down they never let it back up.  Just look at Msft and Intc.  They play king of the hill and never let anyone try to take out their shorts to the death.

Mon, 11/01/2010 - 21:16 | 692101 Leo Kolivakis
Leo Kolivakis's picture

Citigroup is going to break out big one day. And as a percentage of market cap, the top shorts remain in solars. That's why they fly high when they report stellar earnings.

Mon, 11/01/2010 - 21:36 | 692140 bpilch
bpilch's picture

the short interest for Citi, BAC and others that the Govt issued warrants on way overstates the actual shorts. Hedge funds that bought most of the warrants all short the stock against the warrants. No matter how hard you squeeze, you won't get them to buy in their shorts....

Tue, 11/02/2010 - 03:51 | 692589 Sudden Debt
Sudden Debt's picture

Could you explain a bit more bpilch?

Mon, 11/01/2010 - 23:22 | 692363 Grand Supercycle
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