The data is only as of Feb 29th so maybe a few shorts covered during last weeks rally.
Another important point is that Bloomberg lists the equity float as 36 million shares. This number could be considerably lower when adding a few mutual funds that control shares unlikely to be sold to the public.
It's possible that most stocks have similar fund holdings so at least the comparison is likely apples to apples giving a great starting point for more research.
From the list below, Sears has an incredible 34% of the float short. This continues to highlight my theory that the large purchase by Chairman Eddie Lampert and the subsequent aggressive moves on monetizing assets has set off the Impossible to Cover theory.
Figure 1 - Largest S&P 500 Short Interest
Short Interest Short Interest Equity Float Ticker Name / Float % (In mln shrs) (In mln shrs) ============================================================================= GME GAMESTOP CORP-A 41.05 54.85 133.62 SHLD SEARS HOLDINGS 34.34 12.53 36.48 SVU SUPERVALU INC 33.27 70.09 210.69 RRD RR DONNELLEY & S 31.29 55.42 177.12 FSLR FIRST SOLAR INC 31.23 18.60 59.56
The below chart highlights that Sears is now in an overbought situation especially with the RSI printing above 80. Though as a non-chartist I'll still question how a stock can be that overbought if it has just
returned to the level from October. Don't be surprised by a pause, but the market shouldn't expect a selloff.
Figure 2 - SHLD Chart
Disclosure: Long SHLD. Please review the disclaimer page for more details.