How are overnight borrow fees charged on a Thursday?

If you hold a short position after the 8:00 PM ET cutoff on Thursday, your account may be charged multiple days of overnight borrow fees.

How it works:

• Overnight borrow fees are based on the settlement timing (T+1)
• The cover for a short position held overnight on Thursday cannot settle until Monday at the earliest

Important:

• This may result in up to 3 days of overnight borrow fees
• Fees are charged daily while the short position remains open
• The exact amount depends on the borrow rate and market conditions