I have two newby questions about Shorts:
1. Can anyone point me to a fairly short (not really a pun, is it?) but extremely articulate explanation of how they work in general?
2. If one has a short position on a stock that goes higher, is that person responsible for covering the full value of the stock or just the split? (eg. short at 20 goes to 25 does the investor owe 5 or 25?)
Thanks so much!