The weeklong rally from last week’s lows has taken a bite out of the $93.7 billion of mark-to-market profits, +11.12%, short sellers have earned since the beginning of October. Over the last week the S&P 500 index increased by 3.31%, the Nasdaq by 4.3% and the Russell 3000 by 3.23%. The S3 Blacklight platform tracks over 8,000 U.S. domestic equity shorts worth over $825 billion, which incurred mark-to-market losses of $23.3 billion, or -2.86%, over the last week.
Earnings season is set to get into full gear and these are the top twenty-five S&P 500 stocks with the largest change in $ short interest. While the change in short interest of certain stocks like Facebook (FB), Amazon (AMZN) and Netflix (NFLX) are primarily momentum and value based, other changes in short interest may be an increase of short exposure in anticipation of weaker than expected earnings. The S3 Black App Screener Tool allows you to sort for changes in short interest prior to earnings announcements.