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I do not understand your comment that " can't short it [ZIXI] but you can buy puts." I shorted it with no problem (except that it has gone up since I shorted it!).

Hmmmmm, doing some checking around and came across this.

What is a Rule 11830 (UPC 71) "restricted" security?
When a NASDAQ security has a clearing short position greater than one-half of one percent of its outstanding shares, it is subject to the provisions of Rule 11830 (formerly Section 71) of the Uniform Practice Code. Customer or proprietary short sales must be delivered within 10 business days of the normal settlement date or be closed-out by the seller for cash or guaranteed delivery.

So I went to see the list for Rule 11830 "restricted securities and came up with this:*&upc11830=1&marketcat=any&IndexParticipation=any&x=40&y=8

There at the bottom of the list is ZIXI. I'm not sure how often stock go on and off the list.

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