How to read ASX short interest
A short-interest figure tells you how much is reported short. It does not tell you why.
What % short means
A reading of 5% means reported outstanding short positions are equivalent to 5% of the company's shares on issue. The main figure on this site comes from ASIC. It measures open positions, not the volume of short sales made that day.
Check the date first
ASIC publishes positions four business days after the trade date, labelled T+4. A figure dated Monday describes Monday's reported positions, even if you are reading it on Friday.
Positions may have changed since then, especially around earnings, capital raisings, or takeover news. Compare the source date with the date of any news you are reading.
Read the change in percentage points
The 7-day and 30-day columns show the difference between reported percentages. A rise from 2.00% to 2.50% is +0.50 percentage points. That is a 25% increase in the percentage itself, but the table displays the percentage-point change.
A rise or fall shows a change in the reported figure. On its own, it cannot tell you whether traders opened positions, closed them, or whether the number of shares on issue changed.
Look at the company's history
Compare the latest reading with its 52-week range and chart. A 4% reading near a company's yearly high means something different from 4% near its yearly low. Check whether the change lasted across several reports or appeared in just one.
High short interest does not prove a company is overvalued. Positions may be hedges or part of a larger trade. Read company announcements and financial statements before drawing a conclusion.