The story heading into this week was about whether a loaded event calendar, midterms, Apple, AMD, and payrolls, would crystallise the bearish positioning that had built through October. With those catalysts now largely through, the data shows bears continuing to retreat but options traders still more cautious than their recent baseline. Short interest has extended its decline. Borrowed shares…
SPY cost to borrow surges 127% in one week to 0.35%, marking a sharp reversal from the ultra-loose borrow market that dominated late July.
Key data as of 10 Nov 2026
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Read on ORTEX →Sign up for premiumOptions traders turned sharply defensive on Tuesday. SPY put-call ratio jumped to 1.99 — a z-score of 2.14, the highest in weeks. That's happening even as the short sellers who drove the prior cycle have nearly…
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