Daily Short Volume Surge
According to FINRA Reg SHO data for November 10, 2026, CNX Resources Corp (CNX) experienced a notable surge in off-exchange short volume. The short-volume ratio reached 90.4%, which is 2.5 standard deviations above the stock's 20-session average. This indicates heavy short-selling pressure in the daily flow, likely involving market-maker hedging and institutional activity.
Understanding the Flow
It is critical to distinguish that this data represents daily short-sale volume (flow), not open short interest. A high ratio of 90.4% suggests that a vast majority of the off-exchange trading activity for the session was marked short. While this does not confirm a long-term bearish position, it highlights significant intraday selling pressure that traders should monitor for potential trend reversals.
Key Takeaways
- Daily off-exchange short volume ratio hit 90.4%.
- The activity is 2.5 standard deviations above the 20-session average.
- This represents daily flow pressure, not necessarily an increase in open short interest.
- Data sourced from FINRA Reg SHO daily files.
The Bottom Line
CNX Resources is seeing an unusual spike in daily short-selling flow. While this is a flow-based metric, the extreme deviation from the historical average warrants close attention for potential price volatility.
Signal data sourced from FINRA. This post is an original analysis prepared by The Forensic Ledger from publicly available data. Not investment advice.
Not investment advice. This is original reporting and analysis prepared by The Forensic Ledger from publicly available data. Nothing here is a recommendation to buy, sell, or hold any security. Always consult the original source and a licensed professional. See our full disclaimer and source-citation policy.