Wynn Resorts Becomes #162 Most Shorted S&P 500 Component, Replacing Raytheon

The most recent short interest data has been released by the NASDAQ for the 10/31/2013 settlement date, and we here at Dividend Channel like to sift through this fresh data and order the underlying components of the S&P 500 by "days to cover." There are a number of ways to look at short data, for example the total number of shares short; but one metric that we find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares typically traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days it would take to close out all of the open short positions if every share traded represented a short position being closed.

START SLIDESHOW:
The 25 Most Shorted S&P 500 Stocks »

In our new rank based on the most recent short interest data from NASDAQ, Wynn Resorts Ltd ( WYNN) has taken over the position of #162 most shorted S&P 500 component, from Raytheon Co. ( RTN) which is now in the #223 spot. The "days to cover" at 10/31/2013 was 4.01 for WYNN, and 3.21 for RTN; this compares to the average across all S&P 500 components of 3.93 (down from the average back on the 10/15/2013 settlement date of 4.44). The chart below shows the movement over time of the "days to cover" values of both WYNN and RTN, versus the average S&P 500 component.

Loading+chart++2013+TickerTech.com

Below is a chart showing the relative positions of WYNN versus RTN over time within the 500 S&P 500 components, with #1 representing the component with the highest "days to cover" value (most heavily shorted) and #500 representing the component with the lowest "days to cover" value (least heavily shorted):

If you liked this article you might like

Opposition Party Makes Political Gains in Macau, Changes in Governance Possible

When it Drops, it's Time to Shop: Cramer's 'Mad Money' Recap (Tuesday 9/12/17)

RH, Walt Disney, Wynn Resorts, Nvidia: 'Mad Money' Lightning Round

Typhoon Hato Washes Out Macau With 124 mph Winds, Dries Out Casino Stocks

Hong Kong and Macau Count the Cost of Typhoon Hato