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It's not. Short interest was 32,316,654 as of 3/15/2013 settlement: Tesla Motors, Inc. (TSLA) Short Interest - NASDAQ.com
The fee rate at Interactive Brokers was 7.8% on 1/26 and is now 10%. That might indicate it is higher today. Interestingly the fee rate was 5% this morning and went up to 10% during the day today.
TheTalkingMule
Distributed Energy Enthusiast
Anyone with insights into SCTY short interest this week? Shorts must be absolutely piling on with this massive dive, if they hadn't already.
I don't think you can short in the after-hours market, can you? In any case I'm sure the circuit breaker will trigger at 9:30:01 EST tomorrow.
Hi there, just wondering where to get the most up-to-date info on short interest and interest rate charged for short borrowing? Unfortunately, the info on Yahoo and other common sites is often outdated by days or even over a week. This has been such a good indicator of price movement that it helps us all to know almost real time.
I can give you the latest rates Fidelity is paying me for loaning out my shares: TSLA is still at 3% (it's been somewhere between 2% and 3% since the start of February) while SCTY is now a whopping 24.5%.
So if you own SCTY they pay you 24% to loan them out? Is that paid daily?
That's an insane 'dividend'. Even TSLA at 3%....
Monthly (calculated daily).
No kidding! I took February's interest and bought more SCTY. There are simply no shares left for shorting. Can't imagine it's going to last...but I think (and I certainly hope) that when it ends it will be after a massive short squeeze.
There's more info on what's going on in the Solar City thread.
AT IB as of right now you will receive the following rates:
TSLA = 4.8%
SCTY = 32.1%
People can easily transfer their shares to IB if they wanted keeping their cost basis intact
Sweet baby jesus...does this imply that short interest has gotten *even higher* on these issues since last week?
duke_of_ev
Member
Sorry for stupid question, but what do you have to do to get paid for loaning shares?
Not a stupid question. Not 100% sure, but I think you need to have shares in a cash (non-margin) account. If you have a margin account, your brokerage can/will loan out your shares without telling you or paying you anything - it's part of the margin agreement. I think.
I'm getting this interest on my TSLA and SCTY in my Fidelity IRA (non-margin) account. I also have TSLA and SCTY in my Ameritrade and Scottrade margin accounts, but don't see any interest. I told my Scottrade guy about Fidelity's loaning program and he acted like he'd never heard of such a thing.
The only brokerages I have heard of that pay interest are Interactive Brokers and Fidelity, with IB offering higher rates.
So I'm not sure if it's having a cash account or having a Fidelity or IB account or some combination. But it's good free money if you can get it...
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