Bridging the Data Gap
Official exchange-reported short interest is often delayed by up to eight business days. Ortex fills this void by providing daily and intraday estimates of short interest, borrow fees, and utilization rates. By modeling securities-lending data, Ortex allows analysts to track the 'crowdedness' of a trade in real-time.
Key Metrics for Analysis
- Utilization %: Indicates how much of the lendable supply is currently being borrowed. High utilization suggests a stock is becoming 'hard to borrow.'
- Days to Cover: Calculated by dividing short interest by average daily volume, providing an estimate of how long it would take for shorts to exit their positions.
- Borrow Fee: The cost to borrow shares, which often spikes when short interest is high or supply is constrained.
Signal data sourced from Ortex. 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.