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Where the tokens are
Trade MSTR perps| Settlement | Shares short | Average daily volume | Days to cover |
|---|---|---|---|
| Sep 15, 2026 | 30.74M | 21.66M | 1.42 |
| Aug 31, 2026 | 32.62M | 32.85M | 1.00 |
| Aug 14, 2026 | 31.88M | 15.53M | 2.05 |
| Jul 31, 2026 | 32.48M | 15.07M | 2.16 |
| Jul 15, 2026 | 40.28M | 20.45M | 1.97 |
| Jun 30, 2026 | 42.78M | 32.52M | 1.32 |
| Jun 15, 2026 | 40.88M | 22.42M | 1.82 |
| May 29, 2026 | 37.68M | 13.36M | 2.82 |
| May 15, 2026 | 39.55M | 16.2M | 2.44 |
| Apr 30, 2026 | 40.78M | 21.03M | 1.94 |
| Apr 15, 2026 | 37.2M | 15.61M | 2.38 |
| Mar 31, 2026 | 35.88M | 20.02M | 1.79 |
The share of each day’s reported trading that was a short sale. This is not short interest: most of it is market makers selling short to fill buy orders and buying back within the day, so a ratio of 30–50% is ordinary for a heavily traded stock and says little about how many shares are held short overnight.
Figures describe MicroStrategy shares, not any token. As of Sep 15, 2026, from exchange short-interest reports and FINRA short-sale volume, via Massive. Short sellers borrow and sell the shares themselves; token holders are not lending theirs.