Why can’t I short all the shares I located?

The number of shares you can locate and the number of shares you can short may differ because locate availability and short-selling eligibility are calculated at different times.

How it works:

• The TradeZero Short Locator estimates how many shares you can short at the time you request a locate.
• When you place a short order, the system re-checks your buying power and eligibility in real time.

What factors can impact your ability to short?

• Price changes in the security
• Margin requirements
• Available buying power in your account
• Stocks priced below $3.00 are non-marginable
• Stocks priced below $0.25 cannot be shorted

Important information about locates at TradeZero America:

• Locate fees are non-refundable, even if you cannot use all the located shares
• You may be able to sell back unused locates (not currently in use) to recover a portion of the cost
• Unused locates can typically be offered for credit until 8:00 PM ET