Short Interest in US Stocks Surges Near Record Highs
Bearish bets on US equities have surged, with short interest in the S&P 500 and Russell 3000 nearing all-time highs and NYSE-listed stock short interest hitting a record 9.0% in late June.
Short interest in the S&P 500 has reached approximately 3.7% of its free float, close to the highest level since records began in 2010. For the Russell 3000, short interest stands at about 6.1%, also near an all-time peak. Both metrics have risen steadily since the start of 2025.
Across all NYSE-listed stocks, short interest climbed to a record 9.0% of shares outstanding in late June. For context, that compares with peaks of roughly 5.0% during the 2008 Financial Crisis and 6.0% during the 2020 pandemic.
Analysts note that the elevated levels of short selling could set the stage for a short squeeze, though the trend reflects a broad bearish sentiment among traders.
Source: The Kobeissi Letter