New investors, the statement "35% of today's volume was short sales" wasn’t in the source file. The most recent short interest is < 1% of the OS and the most recent failure-to-deliver (naked short) # is a measly 25,662 shares. IMHO interpreting short volume as actual short sales is incorrect. This is what FINRA, the exact same source which the #s are posted from, said.
"Thank you for contacting FINRA’s Office of the Ombudsman. Regarding your question, it would be incorrect to assume that short sales comprise 32% of the total volume on that trading day for IPIX . FINRA publishes the daily short sale volume pursuant to an SEC mandate; however, there are various trading anomalies that result in the reported short sale volume often being exaggerated. Thus, the true total short sales volume may be significantly lower than the volume that is reported. Third parties sometimes ignore this and try to claim the ratio is valid to further their own objectives."
https://investorshangout.com/post/view?id=4804282
You can also check out these two posts for some detailed explanations.
https://investorshangout.com/post/view?id=4670279
https://investorshangout.com/post/view?id=4816479
Here are the official short interest and failure-to-deliver data.
Settlement Date: 10/31/2017
Current Short: 1,274,605
Previous Short: 1,227,218
Change: 47,386 (3.86%)
Average Daily Volume: 361,557
Days to Cover: 3.53
0.91% of the outstanding shares were short.
http://otce.finra.org/ESI
“In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due ( known as a “failure to deliver” or “fail” ).”
https://www.sec.gov/investor/pubs/regsho.htm
According to the SEC, only 25,662 shares (0.018% of the OS) were failure-to-deliver as of October 31.
20171031|45782D100|IPIX|25662|INNOVATION PHARMACEU|0.79
https://www.sec.gov/data/foiadocsfailsdatahtm
"Thank you for contacting FINRA’s Office of the Ombudsman. Regarding your question, it would be incorrect to assume that short sales comprise 32% of the total volume on that trading day for IPIX . FINRA publishes the daily short sale volume pursuant to an SEC mandate; however, there are various trading anomalies that result in the reported short sale volume often being exaggerated. Thus, the true total short sales volume may be significantly lower than the volume that is reported. Third parties sometimes ignore this and try to claim the ratio is valid to further their own objectives."
https://investorshangout.com/post/view?id=4804282
You can also check out these two posts for some detailed explanations.
https://investorshangout.com/post/view?id=4670279
https://investorshangout.com/post/view?id=4816479
Here are the official short interest and failure-to-deliver data.
Settlement Date: 10/31/2017
Current Short: 1,274,605
Previous Short: 1,227,218
Change: 47,386 (3.86%)
Average Daily Volume: 361,557
Days to Cover: 3.53
0.91% of the outstanding shares were short.
http://otce.finra.org/ESI
“In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due ( known as a “failure to deliver” or “fail” ).”
https://www.sec.gov/investor/pubs/regsho.htm
According to the SEC, only 25,662 shares (0.018% of the OS) were failure-to-deliver as of October 31.
20171031|45782D100|IPIX|25662|INNOVATION PHARMACEU|0.79
https://www.sec.gov/data/foiadocsfailsdatahtm
2
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