Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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From: Patchie	4/27/2007 10:46:45 AM
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The oversold ratio averages about 19 percent for both types of offerings, so the typical deal in our sample involves a naked short position of about 5.0 percent.6 The naked short position must eventually be covered with market purchases, so on average the underwriters plan some price support for these issues. The naked short position found here is similar to that reported by Aggarwal (2000), who examines short covering data for IPOs. She reports an average naked short of 5.3 percent for IPOs in which underwriters used short covering transactions. papers.ssrn.com

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