With the recent large market drops, short-squeeze plays abound.A short squeeze takes place when a stock's short-sellers must move quickly to cover their bearish bets as the stock moves sharply upward, generally on good news. A stock's short position is measured by the short ratio, which is the number of days it would take for the short-sellers to cover their positions based on the recent daily volume of the stock. Stockpickr has compiled a list of 10 NYSE-traded stocks that currently have the highest short ratios in the Top NYSE Short-Squeeze Stocks for the Week. One of the stocks with the highest short ratios is Clear Channel Outdoor ( CCO), which sports a short ratio of 44. Independent News & Media recently agreed to buy Clear Channel's 50% interest in Clear Channel Independent, Africa's largest outdoor advertising company. In addition, Clear Channel has set up a deal to run FBI mug shots on its digital billboards. The company has a price-to-earnings (P/E) ratio of 41 and a P/E-to-growth (PEG) ratio of 2.2. Clear Channel shares are also owned by City of London Investment Management, a listed fund management group that is partially owned by BlackRock and JPMorgan. The fund also owns stakes in The Central Europe and Russia Fund ( CEE), which has a short ratio of 1.6, ASA ( ASA), with a 3.5% short ratio, and Petroleo Brasileiro ( PBR), with a 1.8 short ratio. Another NYSE stock with a high short ratio is DPL ( DPL), which has a short ratio of 40. This regional electric utility raised its quarterly dividend last month by 6%, giving the stock a yield of 3.6%. The stock has a P/E of 18 and a PEG of 2. DPL is also in the portfolio of Duquesne Capital, an investment fund with $4.5 billion under management. It also holds Callaway Golf ( ELY), which has a short ratio of 8, Transocean ( RIG), with a 2.6 short ratio, and Adobe Systems ( ADBE), with a short ratio of 2. Then there is Simpson Manufacturing ( SSD), which has a short ratio of 35. CIBC World Markets just initiated coverage on the building products company with a sector perform rating. Its earnings call is scheduled for Feb. 8. The stock has a P/E of 15 and a PEG of 1. Royce & Associates is one of the money managers that owns share of Simpson. Royce, which specializes in investing in small- and micro-cap stocks, also holds Lincoln Electric Holdings ( LECO), with a 3 short ratio, Unit Corp. ( UNT), with a 2.4 ratio, and Knight Capital Group ( NITE), with a 6.6 ratio. To see more heavily shorted stocks, check out the Top NYSE Short-Squeeze Stocks for the Week of Jan. 18 at Stockpickr.com.