Market Makers Allegedly Abusing Exemptions in Short Selling

Published in Stocks and Investing on Monday, August 4th 2025 at 10:15 GMT by WOPRAI
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In the past 20 years (since 2005 with the introduction of RegSho), short selling has come under scrutiny as millions of retail investors have discovered what we have been highlighting since early 2005. Market makers abuse the “market maker’s exemption” and short excessive amounts of shares in your stock without locating, borrowing, paying the rebate or the interest rate to borrow. They are required to cover on the same trading day, and our data proves they do not.

The chart below shows “Daily Short Volume” in First Majestic Silver Corp (AG), and includes both EXEMPT (market makers) and NON-EXEMPT (everyone else) short sales. We consolidate the tape of all 14 US stock exchanges and purchase the “sell short” trade identifier data directly from the exchanges on a daily basis. This complete view of the trading in your stock shows a vastly different picture than “Total Short Interest”, which only includes non-exempt short sales that have not been covered by the twice per month reporting date. Unfortunately, this misses the majority of the short selling.

This indicates that a Short Squeeze may be starting in shares of First Majestic Silver Corp at $8.17, after crossing above the $8.063 Trigger Price. This could signal a buying opportunity, given the right market conditions.

You can find the full report at [ https://www.woprai.com/ ]

Please find the applicable data below, drawn from all major market providers.

Date	Short Volume	Total Volume	Percentage	Squeeze Trigger	$ Value
2025-08-01	5,769,583	16,648,477	34.66	7.88	45,464,314
2025-07-31	4,982,413	12,701,200	39.23	7.94	39,560,359
2025-07-30	6,534,565	16,653,622	39.24	8.19	53,518,087
2025-07-29	4,614,195	11,806,158	39.08	8.31	38,343,960
2025-07-28	5,257,191	13,596,261	38.67	8.27	43,476,970
2025-07-25	6,314,523	15,342,923	41.16	8.49	53,610,300
2025-07-24	2,724,039	10,654,334	25.57	8.69	23,671,899
2025-07-23	5,149,142	16,439,476	31.32	8.85	45,569,907
2025-07-22	4,430,605	14,287,132	31.01	8.78	38,900,712
2025-07-21	5,492,105	15,071,426	36.44	8.67	47,616,550
2025-07-18	6,193,731	16,943,866	36.55	8.37	51,841,528
2025-07-17	5,880,141	14,296,073	41.13	8.46	49,745,993
2025-07-16	6,729,345	16,895,552	39.83	8.68	58,410,715
2025-07-15	5,660,761	17,336,169	32.65	8.93	50,550,596
2025-07-14	8,165,188	24,613,189	33.17	9.29	75,854,597
2025-07-11	14,763,615	36,307,488	40.66	9.05	133,610,716
2025-07-10	5,727,202	20,934,571	27.36	8.48	48,566,673
2025-07-09	13,407,652	34,525,607	38.83	8.42	112,892,430
2025-07-08	12,403,578	27,733,192	44.72	8.11	100,593,018
2025-07-07	9,264,965	24,165,470	38.34	8.51	78,844,852
2025-07-03	6,317,663	15,125,319	41.77	8.51	53,763,312
2025-07-02	10,649,811	25,427,584	41.88	8.39	89,351,914
2025-07-01	8,809,509	20,142,780	43.74	8.4	73,999,876
2025-06-30	10,119,495	29,066,378	34.82	8.1	81,967,910
2025-06-27	10,885,020	26,545,615	41	8.02	87,297,860
2025-06-26	11,280,576	29,330,015	38.46	8.25	93,064,752
2025-06-25	10,620,544	26,471,359	40.12	8.14	86,451,228
2025-06-24	7,220,818	20,646,201	34.97	8.05	58,127,585
2025-06-23	10,068,267	26,441,959	38.08	8.21	82,660,472
2025-06-20	11,969,763	37,834,002	31.64	8.06	96,476,290
2025-06-18	10,081,689	23,066,092	43.71	8.46	85,291,089
2025-06-17	11,721,615	27,174,575	43.13	8.45	99,047,647
2025-06-16	7,995,403	22,692,833	35.23	8.26	66,042,029
2025-06-13	7,211,286	19,956,821	36.13	8.27	59,637,335
2025-06-12	10,126,510	28,042,904	36.11	8.4	85,062,684
2025-06-11	10,395,328	27,642,150	37.61	8.28	86,073,316
2025-06-10	11,833,331	27,055,849	43.74	8.37	99,044,980

Total	3,939,017,776	10,452,242,355	37.69	8.06	31,736,878,641

* Totals include all data records back to 2020-08-05 00:00:00, data set is truncated for viewing.