The short interest report says "The mid-month short interest report is based on short positions held by members on the settlement date of the 15th of each month."
It doesn't say settled short positions.
Second of all even if it did say that how would you explain a stock that had "short volumes" of 32500 from Feb 9-12 and a total volume of 33500 over the same time frame and a short interest of 3451 on February 12.
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