I believe the daily Finra report does report naked short fills which are legal at the time they're done by the market maker. But only on a pending basis. It is legal if the market maker covers the fill with borrowed or purchased shares within a time limit. If the market maker doesn't do the follow-up it becomes illegal. Of course, as you point out, no one reports their illegal short data.
Now, the data pattern of high percent short fills almost every day year after year for CRGS shares, amid the notion that most shareholders are credited with holding for the long-term, is highly suggestive of an existing illegal short position. See my post 30779.
Now, this repetitive high percent short fill factor is just one indicative sign, as you know. There are more formidable historical facts and observations to consider in the mosaic.
The past is never dead. It's not even past. -- William Faulkner
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