Shorts Shock, page-21

"A cash settlement would suggest the shorter purchasing the shares "

I don't think that is the case.
The cash settlement is just the net difference. The shares were 'sold' when shorted. Neither the loaner or shorter owns shares at that point.

The cash settlement just means the shares do not have to be repurchased to close the position. Really need to know the terms of the loan agreement to be definitive.

I am not reading to much into this at the moment. It will be interesting to see the short positions from here, i.e. whether new positions are opened on a similar scale or just minor background noise.

That may give a better indication of sentiment.