Short interest for the median stock within the S&P 500 has climbed to 3.2% of total market capitalization. This figure represents the highest level of bearish positioning recorded since 2009.
Current short interest levels are nearing the 3.8% peak observed during the 2008 Financial Crisis. This 3.2% reading marks a significant increase from the 2022 bear market, when median short interest sat at approximately 1.7%.