The ASIC shorts report for 11th May still shows 5.466m short sales outstanding for MML (2.63%) with a net reduction of 1.38m shorts over the previous month. At that rate it will take around 4 months to unwind the current level.
This chart shows the short action since last July with the data scaled to fit. It would appear that the majority of the short sales occurred at a lower SP to the current.
CPDLC
