{"slug":"can-you-opt-out-of-share-lending","qid":"borrow_demand","label":"How crowded is the short side? Days to cover across the whole reporting universe","post_title":"Can You Opt Out of Share Lending?","post_url":"/blog/can-you-opt-out-of-share-lending#q-borrow_demand","columns":["days_to_cover_bucket","tickers","share_of_names_pct"],"rows":[{"days_to_cover_bucket":"1 to 2 days","tickers":2425,"share_of_names_pct":42.2},{"days_to_cover_bucket":"2 to 3 days","tickers":519,"share_of_names_pct":9},{"days_to_cover_bucket":"3 to 5 days","tickers":1100,"share_of_names_pct":19.1},{"days_to_cover_bucket":"5 to 10 days","tickers":1246,"share_of_names_pct":21.7},{"days_to_cover_bucket":"10 days or more","tickers":461,"share_of_names_pct":8}],"shape":"ranking","sql":"WITH latest AS\n(\n    SELECT\n        ticker,\n        argMax(days_to_cover, settlement_date)    AS dtc,\n        argMax(avg_daily_volume, settlement_date) AS adv\n    FROM global_markets.stocks_short_interest\n    WHERE settlement_date >= today() - 60\n      AND ticker NOT IN ('SPCX')\n    GROUP BY ticker\n    HAVING adv > 200000\n)\nSELECT\n    multiIf(dtc < 1,  'under 1 day',\n            dtc < 2,  '1 to 2 days',\n            dtc < 3,  '2 to 3 days',\n            dtc < 5,  '3 to 5 days',\n            dtc < 10, '5 to 10 days',\n                      '10 days or more')                  AS days_to_cover_bucket,\n    count()                                               AS tickers,\n    round(100 * count() / (SELECT count() FROM latest), 1) AS share_of_names_pct\nFROM latest\nGROUP BY days_to_cover_bucket\nORDER BY min(dtc)","computed_at":"2026-10-05T14:55:52.995039+00:00","elapsed":0.142260323}