QQQ short interest hits 11%, the highest level since 2023
As seen on the 24/7 Wall St. homepage on November 15, 2026.
Bets against the Nasdaq 100 have doubled in less than a year, putting short interest within three points of its 2022 bear market peak and setting up violent moves in either direction for anyone holding big tech.
BREAKING: Short interest in the Nasdaq 100 ETF, $QQQ, is up to 11% of its outstanding shares, the highest since 2023. This figure has surged +5 percentage points since January. By comparison, during the 2022 bear market, this metric peaked at ~14%. Meanwhile, the US technology https://t.co/M6GOGPuekC
- Replies27
- Reposts18
- Likes189
Continue ReadingShow less
Short interest in the Nasdaq 100 ETF has climbed to 11% of outstanding shares, a level not seen since 2023, according to The Kobeissi Letter on November 15, 2026. That figure has surged 5 percentage points since January alone.
The 2022 bear market saw this metric peak at roughly 14%, so today's bearish positioning is approaching territory that previously coincided with a full-blown downturn.
Sponsored
A heavily shorted market is a coiled spring in both directions. A continued selloff can accelerate as leveraged positions unwind, while any sustained rally forces short sellers to cover and amplifies upside moves.
Anyone with exposure to big tech needs to account for this dynamic, because the narrow gap to the 2022 peak means the next major catalyst in either direction is likely to produce outsized price swings.
Mentioned: QQQ