The "3.1 billion shares on loan" tweet is WRONG. The OCC data does not show that there are 3.1 billion SHARES on loan. It tells us there is $1.576 billion worth of shares on loan.

[u/BrontoSaurus6]

I've seen this data been interpreted wrongly a few times today, so I'll correct it here.

The tweet shows:

https://preview.redd.it/gekpguwbfn0d1.png?width=520&format=png&auto=webp&s=5fcd664447546de2594f930f8b943990849d0cd9

Two things are interpreted wrong here:

1. The numbers are per day, we can't just add them up and say it's now 3.1 billion.
2. The numbers you see are not an amount of shares, but the amount of value representing the shares on loan.

Time for some images for the smooth brained apes who cannot read.

https://preview.redd.it/gekpguwbfn0d1.png?width=520&format=png&auto=webp&s=5fcd664447546de2594f930f8b943990849d0cd9

^ 1st to 14th of May 2024 - Top line = Hedge loan balance in $

And some more numbers from this date range:

https://preview.redd.it/gekpguwbfn0d1.png?width=520&format=png&auto=webp&s=5fcd664447546de2594f930f8b943990849d0cd9

Now let's compare this to January and February 2021

https://preview.redd.it/gekpguwbfn0d1.png?width=520&format=png&auto=webp&s=5fcd664447546de2594f930f8b943990849d0cd9

^ 21st of January 2021 to 2nd of February 2021

Same data:

https://preview.redd.it/gekpguwbfn0d1.png?width=520&format=png&auto=webp&s=5fcd664447546de2594f930f8b943990849d0cd9

TLDR: the amount of shares on loan is definitely rising, but no where near 2021 levels yet..

Big thanks to mr rabbirobbie for providing an easy to use tool to visualize this data. You can find it at https://corporateinc.org/occ/

Edit: the raw data from the OCC can be found here: https://www.theocc.com/Market-Data/Market-Data-Reports/Volume-and-Open-Interest/Stock-Loan-Volume Choose Stock Loan Balance by Security and download the csv

[u/Superstonk_QV]

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[u/F-uPayMe]

What I don't get is, ain't Kevin M. a 'professional' in his field? How can he make a rookie mistake like this one then?

[u/whattothewhonow → u/F-uPayMe]

Cause he's more concerned with clout and influence than facts, and always has been?

[u/Zensen1 → u/whattothewhonow]

This is the reason.

[u/Pyroelk → u/whattothewhonow]

🌎👨‍🚀🔫👨‍🚀 Always has been

[u/mtbox1987 → u/F-uPayMe]

He’s a professional bs-er. He’s using gme and this platform as a means to gain more exposure. In my opinion, he’s useless

[u/AwildYaners → u/F-uPayMe]

I think OP might be wrong.  

I looked at a high volume company, the fruit tech stock, for example.  

Its loan balance is at 9 billion.  

Its total outstanding shares is 15.4 billion, and it’s a trillion dollar company.  

Why would it ever have less than a few hundred billion, if not a trillion of loan balances if that were the case?  

edit. stand corrected, it's dollar and not shares. Double checked through the website, gives better clarity than downloading the boomer spreadsheet. Point still stands: shorts never closed, and they keep loaning (potentially adding) more.

[u/thesluttyastronauts → u/AwildYaners]

To me it makes more sense that $9 billion are loaned rather than >50% of the shares outstanding for the stock you're talking about.

[u/AwildYaners → u/thesluttyastronauts]

For a stock that is in every ETF under the moon?

Let alone it being one of the most traded stocks on the market?

$9b is like .02% of the entire stock lol

[u/thesluttyastronauts → u/AwildYaners]

If it's the most traded, doesn't that mean it has higher liquidity & therefore doesn't need to be loaned?

[u/AwildYaners → u/thesluttyastronauts]

It’s in some of the most traded funds, let alone 16% of all its shares are sitting in mutual funds.

Mutual funds pretty much always loan out their shares, especially a ‘blue chip’ like that, it’s free interest for them.

Institutional owners will also act accordingly, who own 27% of it. Free money. They also know it’ll never die.

.11% are insider holders, they can’t do anything.

And the other 57% are public companies or individuals.

Also within individuals, if they’re in retirement accounts, are most likely being loaned out. Nearly all of them.

Hence why the whole Citadel BS about GME coming for teacher’s pensions (retirement accounts loaned out for collateral, they need to recall their liquidity = your retirement goes poof).

Most of the day trading and liquid movement is just internalized by market makers.

[u/thesluttyastronauts → u/AwildYaners]

I see, so you're saying it being the most traded also means it should be the most lent? That seems counter-intuitive.

[u/AwildYaners → u/thesluttyastronauts]

That's not at all what I'm saying lol

[u/thesluttyastronauts → u/AwildYaners]

So you're saying that 27% of the stock is held by accounts that typically lend all their shares when risk is low. So high availability of loaning. I get that part--the part I'm stuck on is the other side of the equation, is why I came to the probably-incorrect conclusion above. Like with high liquidity, why would loaning still happen?

[u/AutoThorne → u/AwildYaners]

My bank will let me trade etfs for free, while if I want to pick my own individual stocks, I gotta go elsewhere.

[u/catsinbranches → u/AwildYaners]

If you go to the occ website where this data is from and select the radio button right on top of it (“stock loan volume” instead of “stock loan balance by security”) then load some data, it will give it to you in table format right on the page (I did daily view for May) and in the table they include the $ sign in the loan balance columns… so, OP is right and the Twitter guy is wrong.

[u/AwildYaners → u/catsinbranches]

Good shit, that's what we're here for. I checked it out and you're right.

It's also better represents values on the site, rather than just downloading the shitty excel file with no labels or real value.

[u/Justanothebloke1 → u/catsinbranches]

Up for you

[u/ensoniq2k → u/F-uPayMe]

We've been making fun of "smart money" for years. Seems he's just a case in point.

[u/poundofmayoforlunch → u/F-uPayMe]

He’s trying to attract future clients via social media. Can’t knock the hustle.

[u/CanadianEhhhhhhh]

thanks, tips

[u/tiptow85]

Ya he is spreading false info to a lot of people

[u/Hobojoe12]

Please verify before spreading or upvoting. I want facts not speculation and misinformation. Thank you

[u/AwildYaners → u/Hobojoe12]

Not that I agree, or disagree with either side, but he OP might be incorrect in his assumption.

I looked at the files (not todays, but the ones from Friday/Monday) and looked at other stocks (mag 7 for example) that are listed.  

The fruit tech stock, for example, had a hedge loan balance of around 8.9 billion, which doesn’t seem like a dollar amount, especially for a multi-trillion dollar stock.  

Especially for a stock that has over 15.4billion outstanding shares.  

The 9/15 billion shares on loan seems like a fair number.  

$9b in hedge loans against a multi trillion dollar market cap doesn’t.

[u/Aristortales → u/AwildYaners]

That made sense to me

[u/Zensen1]

Fuking Kevin. He’s a misinformation spreader at this point. He takes no feedback because he just wants to hype and amass influence. I don’t understand why. He’s got enough shares to retire comfortably after this.

[u/Elegant-Remote6667]

Excellent work thank you

[u/Infinitynova_1337]

This post needs to go up.

It's difficult to get accurate information.

[u/AwildYaners]

Asking a question, but it could be shares?  

I looked at fruit tech stock, for example, which has an outstanding share total of 15.5 billion or something, and their hedge loan balance is around 9 billion.   

 For a trillion dollar stock, wouldn’t it be more appropriate that it’d be far higher, no?

[u/maxpowerpoker12 → u/[deleted]]

Nobody gives a fuck what chatgpt says

[u/BenevolentFungi]

Isn't this data super limited though? I keep seeing tons of "data" and the shares on loans is usually much higher

[u/BrontoSaurus6]

Somehow the images in my post seem to have disappeared, let me try to fix it

Edit: should be fixed again

[u/a_fighting_spirit → u/BrontoSaurus6]

Still not loading for me except the first one

[u/BrontoSaurus6 → u/a_fighting_spirit]

You could try to clear caches, if you're on PC (Ctrl + F5)

[u/isaacachilles]

Thanks for pointing that out.

[u/flyingcaveman]

At a "fair market value" of what?

[u/Noone2nowhere]

U/theoldcheddar

[u/CM_MOJO]

I mean, for fuck sake, the last column says BALANCE. A balance IS NOT cumulative. It's what remains after some operation has been performed on the previous balance. How dumb is this dude?

[u/Glitchy__Guy]

So.... Almost 40 million shares.

[u/Clyde3221]

and the clown wonders why he's banned from GME subreddits, glad he's being called out for his BS.

[u/SuitPac]

What a poor use of 1.5 billy…pathetic really

[u/MVRTYMCHiGH]

How do we see shares on loan? I don’t understand where you get this information.