Settlement
Date Short
Interest Avg Daily
Share Volume Days
to Cover
Feb. 14, 2003 3,823,890 537,770 7.11
Jan. 15, 2003 3,268,067 616,954 5.30
Dec. 13, 2002 3,367,442 772,112 4.36
Nov. 15, 2002 3,030,596 681,314 4.45
Oct. 15, 2002 2,935,758 287,729 10.20
Sep. 13, 2002 2,666,079 210,278 12.68
Aug. 15, 2002 2,322,606 277,592 8.37
Jul. 15, 2002 2,079,436 287,599 7.23
Jun. 14, 2002 1,890,379 263,225 7.18
May 15, 2002 1,800,129 366,323 4.91
Apr. 15, 2002 1,665,664 236,753 7.04
Mar. 15, 2002 1,366,906 189,882 7.20
Data source: The Nasdaq Stock Market, Inc.
Short selling is the selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short selling is a legitimate trading strategy.
Typically, a short sale involves the sale of a security at the current price which is settled with shares lent to the short seller by a third party. The seller makes the short sale on the assumption that the price of the security will go down. If this occurs, the short seller will purchase shares to lock in a profit, extinguish the short position and replace the shares previously borrowed.
Of course, if the stock rises in price, the short seller may elect to close out the position through a purchase, and absorb the resulting loss.
Firms are required to report their short positions as of settlement on the 15th of each month. A compilation is published eight business days after.
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