Thanks Mickey for the interesting analysis. To take it one step further, back on 9/14/2012 before the plunge, there were about 20.2MM shares shorted. The short position climbed until Jan 15, 2013 when there were 27.576MM shares short and stayed in that area until April 15 when there were 27.3MM. Then the position started declining. By May 15 there were only 24.85MM and May 31 showed 22.152MM shares short.
SO what is the over under for the NASDAQ short interest number to be reported for mid June? Since June 15 is a Saturday, positions will be reported as of tomorrow.
I will start the guessing at under 12MM.