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Days to cover, recomputed: FINRA's denominator vs this page's 20-session regular-hours ADV (settlement June 30, 2026)

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-07-26, from What Is Average Daily Volume (ADV)?.

as of table 2×6read in context →
Days to cover, recomputed: FINRA's denominator vs this page's 20-session regular-hours ADV (settlement June 30, 2026) — 2 rows by 6 columns, computed from US exchange, SIP and OPRA data.
tickershares_short_mfinra_adv_mfinra_days_to_coverrth_adv_20_session_mdays_to_cover_recomputed
KO49.624.12.0612.44
MU31.760.31420.75
Rows × columns
2 × 6
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Days to cover, recomputed: FINRA's denominator vs this page's 20-session regular-hours ADV (settlement June 30, 2026), derived from the stored result.
ColumnTypeRangeNotes
ticker text 2 distinct values (KO, MU)
shares_short_m number 31.7 to 49.6 count
finra_adv_m number 24.1 to 60.3
finra_days_to_cover number 1 to 2.06
rth_adv_20_session_m number 12.4 to 42
days_to_cover_recomputed number 0.75 to 4

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number
WITH our_adv AS (
    SELECT ticker, avg(day_shares) AS adv
    FROM (
        SELECT ticker,
               toDate(toTimeZone(window_start, 'America/New_York')) AS et_date,
               sumIf(toFloat64(volume), formatDateTime(toTimeZone(window_start, 'America/New_York'), '%H:%i') >= '09:30'
                                    AND formatDateTime(toTimeZone(window_start, 'America/New_York'), '%H:%i') < '16:00') AS day_shares
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker IN ('MU', 'KO')
          AND window_start >= toDateTime('2026-06-11 00:00:00', 'America/New_York')
          AND window_start < toDateTime('2026-07-11 00:00:00', 'America/New_York')
        GROUP BY ticker, et_date
    )
    GROUP BY ticker
),
si AS (
    SELECT ticker,
           max(short_interest) AS short_interest,
           max(avg_daily_volume) AS finra_adv,
           max(days_to_cover) AS finra_dtc
    FROM global_markets.stocks_short_interest
    WHERE settlement_date = '2026-06-30' AND ticker IN ('MU', 'KO')
    GROUP BY ticker
)
SELECT si.ticker AS ticker,
       round(si.short_interest / 1e6, 1) AS shares_short_m,
       round(si.finra_adv / 1e6, 1) AS finra_adv_m,
       round(si.finra_dtc, 2) AS finra_days_to_cover,
       round(our_adv.adv / 1e6, 1) AS rth_adv_20_session_m,
       round(si.short_interest / our_adv.adv, 2) AS days_to_cover_recomputed
FROM si
INNER JOIN our_adv ON si.ticker = our_adv.ticker
ORDER BY ticker

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More from this analysisWhat Is Average Daily Volume (ADV)?
20-session regular-hours ADV: shares, dollars, and the extended-hours share (June 11 – July 10, 2026) table 5×5 MU: rolling 20-session vs 90-session ADV, December 2025 through July 10, 2026 (sampled every third session) series 49×3 ADV by hand: KO's five daily volumes, their sum, and the average (July 6–10, 2026) series 5×5 Options ADV: average daily contracts and share-equivalent exposure (June 11 – July 10, 2026) ranking 4×4 MU's sharpest 2026 volume shock: the event day vs the trailing ADV before and after scalar 1×6 Dollar ADV across the whole US tape: percentiles and threshold counts (June 11 – July 10, 2026) scalar 1×10 See all 2,170 queries →