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Comments:
<0> i get the basics but i might have some confusions
<1> the opposite of buying
<0> do you register the fact that you borrowed the stock with the relevant exchange?
<1> no
<0> or can you do it privately?
<1> has nothing to do with the exchange
<0> then how come some screens tell you "this many shorts, short ratio, blah blah"?
<1> it has to do with your broker
<0> brokers keep track of the info
<0> and advertise it?
<2> you short stocks on margin
<3> actually it has to more to do with the clearer hehe *snort snort*
<0> does each broker tell the news companies "we have x many MSFT shares currently shorted"?
<0> hmmm
<3> the exchange keeps track
<0> i mean
<3> is supposed to
<0> the lender notifies the exchange and the registry that they don't have the stocks any more
<0> and the borrower notifies them that he now has them, so that he can trade them
<0> and the exchange can check if those 2 people did a trade, and they didn't
<0> so i guess they can infer it
<0> or they might think they did an off market trade instead
<0> i guess you can't be sure
<3> eh?
<0> if i borrow shares from you
<3> brokers have an inventory of shares
<0> i have to get them registered in my name
<0> and you lose them
<3> lets say they have 10 clients that are long 100 shares
<0> so now i can trade them and you can't
<3> most of the time they get it from big funds
<1> "The % Short Interest indicator is updated monthly and is only available on NYSE listed stocks. A stock's short interest is determined by dividing the number of shares sold short (as reported by the NYSE exchange) divided by the number of shares outstanding multiplied by 100.
<0> when i buy them back later, i give them back to you and you re-register them
<0> so then you can trade them again
<0> panini i guess the member brokers of the NYSE report their short sales
<3> well the stock is mine , its not registere to u
<1> yes
<0> it has to be
<0> i'll wanna sell it
<0> how can i sell something i don't have?
<3> if i want to sell my stock u have to buy it back for me
<0> the guy buying it from me won't like that, will he?
<1> by borrowing it
<0> i have to get ownership of the stock
<1> you sell him borrowed shares
<0> only then can i sell it
<0> unless i'm doing naked short selling
<1> nope
<0> let's say i wanna short MSFT
<1> you sell him borrowed shares
<0> i borrow it from a pension fund that's sitting on it
<0> then i sell it
<1> no
<0> the guy who buys the MSFT shares from me will want to take delivery
<4> .calc 3740.54+51+80.5+207
<5> Calc: 3740.54+51+80.5+207 = 4079.04
<0> so the MSFT shares must be registered in my name for me to be able to sell them
<4> .calc 3740.54/4079.04
<5> Calc: 3740.54/4079.04 = 0.917014787793
<0> or the exchange will say when settlement comes "where the hell are the shares you sold, ***hole??"
<0> the other guy will want them!
<0> he paid for them
<1> usually the shares are borrowed from your broker, who buys it on your behalf (or they may already have it their possession), and treats it as a loan to you, charging you interest
<1> he gets them
<3> i understand psilo's point
<3> look
<3> when u buy a stock on margin
<3> they're not registered in ur name
<1> he doesn't have a point. he has a question
<3> if u buy it in cash, u cannot loan it to short
<1> I just answered it
<0> yes, i have a question
<4> man, i've spent $128.64 on commissions this year so far....what a ****ing ripoff
<0> panini i don't get it
<3> u dont understand how shorts work
<1> which part?
<4> investopedia.com
<4> read there
<4> they explain everythiner
<4> everything
<4> *
<3> when you trade on margin, you dont have anything registered to you
<0> if you sell a share short, the guy who buys it from you
<3> it is just an accounting number
<0> will take delivery, correct?
<1> yup
<0> ok
<3> no
<0> now the person that the shares were borrowed from
<0> he doesn't own them anymore
<3> not always
<0> cause you can't have 2 people owning the same share on the registry
<1> the "person" is your broker
<3> he doesnt take physical delivery
<0> huh?
<0> why not?
<3> because thats the difference
<0> he's just a guy in the market who wanted to buy MSFT shares
<3> of margin and cash
<0> you sold them
<0> and he bought them
<0> why wouldn't he take delivery?
<0> he doesn't know or care if you'r shorting
<1> don't listen to hotw1ngs, he's completely clueless about this
<3> because MARGIn means BORROWED
<0> panini i think you're right
<0> so i'm gonna talk to you
<3> lol ok panini
<0> do you see what i'm asking though?
<3> u go back to trading your penny stocks
<4> margined securities belong to your lender
<4> unless you're naked-shorting
<1> yes
<0> no, hotwings knows what he's talking about
<0> i don't mean to slight him
<4> in that case no-one owns the securities because they don't exist
<3> lol
<4> and that's illegal
<1> we are not talking about naked shorts though
<4> i know
<4> i am though :P
<0> panini if you sell a stock short, the guy who buys it from you doens't know or care that you're shorting, he wants the physical shares you sold him
<0> and he wants to have them registered in his name
<0> so he can vote at AGMs and so on
<3> panini u dont even know how naked shorting works stfu
<0> correct?
<1> he gets them
<0> the guy who lent the shares
<1> hotw1ngs, I short stocks daily, dip****
<6> tiesto war sehr gut :)
<4> whoever is on the receieving end of a short-sale is not concerned with how they get the shares
<0> he can't have the stocks registered to him anymore!
<4> because they are going long
<3> you think you're naked shorting?
<0> you can't have 2 people showing up at the AGM and voting on the same stock
<0> do you see what i mean?
<1> whereas you never traded stocks in your life
<6> i watched the master spin all night
<3> panini how many days do i have to deliver a cash settlement?
<0> so the lender must give up the registrated ownership of the stock
<3> on a nyse stock?
<0> as far as the share registry and the exchange are concerned
<3> do u even have a clue?
<0> the share registry and the clearinghouse will see him as having given up the stocks
<0> and not owning them
<0> panini?
<1> yes
<0> do you see my question then?
<6> tiesto is a lot taller than you think
<1> there is no conflict
<0> the lender gives up ownership, yes?
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