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The following is a list of highly shorted stocks that saw unusual trading volume on Wednesday, October 13. Many of these names have had major news releases over the past 24hrs, creating the possibility of a short squeeze.

For each stock, we'll list the short float and the relative volume, which expresses yesterday's volume as a multiple of the 3-month average. We won't be going into detailed analysis for each company - the goal here is to give you a starting point for your own analysis.

Short float and relative volume data sourced from Finviz. Full analysis below.

The list has been sorted by yesterday's relative volume.

1. MGM Resorts International (MGM): Resorts & Casinos Industry. Market cap of $5.34B. Relative volume at 6.88. Short float at 38.08%, which implies a short ratio of 4.24 days. The stock has gained 3.60% over the last year.

2. Western Refining Inc. (WNR): Oil & Gas Refining & Marketing Industry. Market cap of $579.26M. Relative volume at 5.7. Short float at 25.58%, which implies a short ratio of 9.76 days. The stock has gained 5.00% over the last year.

3. Diamond Foods, Inc. (DMND): Processed & Packaged Goods Industry. Market cap of $910.23M. Relative volume at 3.26. Short float at 25.60%, which implies a short ratio of 22.89 days. The stock has gained 28.58% over the last year.

4. Gymboree Corp. (GYMB): Apparel Stores Industry. Market cap of $1.78B. Relative volume at 2.96. Short float at 24.20%, which implies a short ratio of 5.34 days. The stock has gained 40.86% over the last year.

5. CIENA Corp. (CIEN): Communication Equipment Industry. Market cap of $1.41B. Relative volume at 2.89. Short float at 25.00%, which implies a short ratio of 5.27 days. The stock has gained 12.48% over the last year.

6. Duoyuan Global Water Inc. (DGW): Pollution & Treatment Controls Industry. Market cap of $336.91M. Relative volume at 2.88. Short float at 20.92%, which implies a short ratio of 7.32 days. The stock has lost 62.17% over the last year.

7. Harbin Electric, Inc. (HRBN): Industrial Electrical Equipment Industry. Market cap of $727.35M. Relative volume at 2.66. Short float at 20.10%, which implies a short ratio of 10.88 days. The stock has gained 21.67% over the last year.

8. ATP Oil & Gas Corp. (ATPG): Independent Oil & Gas Industry. Market cap of $812.12M. Relative volume at 2.48. Short float at 42.40%, which implies a short ratio of 5.83 days. The stock has lost 19.88% over the last year.

9. Allegiant Travel Company (ALGT): Regional Airlines Industry. Market cap of $797.45M. Relative volume at 2.42. Short float at 26.27%, which implies a short ratio of 16.38 days. The stock has gained 3.69% over the last year.

10. hhgregg, Inc. (HGG): Electronics Stores Industry. Market cap of $934.41M. Relative volume at 2.18. Short float at 23.96%, which implies a short ratio of 14.41 days. The stock has gained 31.72% over the last year.

11. MAKO Surgical Corp. (MAKO): Medical Appliances & Equipment Industry. Market cap of $330.90M. Relative volume at 2.17. Short float at 20.05%, which implies a short ratio of 31.15 days. The stock has gained 7.94% over the last year.

12. Saks Incorporated (SKS): Department Stores Industry. Market cap of $1.60B. Relative volume at 2.14. Short float at 28.29%, which implies a short ratio of 7.32 days. The stock has gained 57.01% over the last year.

13. Houston American Energy Corp. (HUSA): Independent Oil & Gas Industry. Market cap of $408.70M. Relative volume at 2.03. Short float at 22.10%, which implies a short ratio of 20.65 days. The stock has gained 263.26% over the last year.

14. World Acceptance Corp. (WRLD): Credit Services Industry. Market cap of $604.48M. Relative volume at 1.95. Short float at 26.13%, which implies a short ratio of 20.39 days. The stock has gained 46.43% over the last year.

15. Veeco Instruments Inc. (VECO): Semiconductor Equipment & Materials Industry. Market cap of $1.68B. Relative volume at 1.9. Short float at 31.96%, which implies a short ratio of 5.08 days. The stock has gained 69.13% over the last year.

Disclosure: No positions

Source: 15 Shorted Stocks Seeing Unusual Trading Volume