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Either way, NSS exists. The only question is to what degree. No way to definitely know at this stage.

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It does. There's an easy way to know to what degree. Three easy steps.

1) Find any three days in a row with volume declining each successive day.
2) Check FTDs for that time period. If it is 0 or tiny (like 941) you have a good batch of days.
3) Add up the volume of those three days.

The sum from step 3 is the absolute maximum number of outstanding naked short shares that can exist.

So from a few weeks ago we had, at a maximum, about 200K shares naked shorted and outstanding. Now keep in mind that's the ceiling. It's anywhere between 0 and that number.

So, in conclusion, mathematics and an understanding of the settlement period dictates that there is no large hidden naked short position.

Come next week, the settlement period will be two days instead of three so the number will be even smaller.

It's really that simple.