{"slug":"what-is-days-to-cover","qid":"adv_tiers","label":"Days to cover by trading-volume tier: every name in the June 30, 2026 settlement","post_title":"What Is Days to Cover? Short Interest Ratio","post_url":"/blog/what-is-days-to-cover#q-adv_tiers","columns":["adv_tier","names","names_fmt","lowest_reported","median_days_to_cover","pct_above_5_days","pct_at_floor"],"rows":[{"adv_tier":"under 1M shares/day","names":16020,"names_fmt":"16,020","lowest_reported":1,"median_days_to_cover":1.21,"pct_above_5_days":23.9,"pct_at_floor":46.5},{"adv_tier":"1M to 5M","names":2255,"names_fmt":"2,255","lowest_reported":1,"median_days_to_cover":2.77,"pct_above_5_days":19.1,"pct_at_floor":26},{"adv_tier":"5M to 20M","names":727,"names_fmt":"727","lowest_reported":1,"median_days_to_cover":2.02,"pct_above_5_days":12.1,"pct_at_floor":31.5},{"adv_tier":"20M+ shares/day","names":220,"names_fmt":"220","lowest_reported":1,"median_days_to_cover":1.28,"pct_above_5_days":3.6,"pct_at_floor":42.7}],"shape":"table","sql":"SELECT multiIf(avg_daily_volume < 1000000, 'under 1M shares/day',\n               avg_daily_volume < 5000000, '1M to 5M',\n               avg_daily_volume < 20000000, '5M to 20M',\n               '20M+ shares/day') AS adv_tier,\n       count() AS names,\n       if(count() < 1000,\n          toString(count()),\n          concat(toString(intDiv(count(), 1000)), ',', leftPad(toString(count() % 1000), 3, '0'))) AS names_fmt,\n       round(min(days_to_cover), 2) AS lowest_reported,\n       round(quantileDeterministic(0.5)(days_to_cover, cityHash64(ticker)), 2) AS median_days_to_cover,\n       round(countIf(days_to_cover >= 5) / count() * 100, 1) AS pct_above_5_days,\n       round(countIf(days_to_cover = 1) / count() * 100, 1) AS pct_at_floor\nFROM global_markets.stocks_short_interest\nWHERE settlement_date = '2026-06-30'\n  AND days_to_cover IS NOT NULL\n  AND avg_daily_volume > 0\nGROUP BY adv_tier\nORDER BY min(avg_daily_volume)","computed_at":"2026-07-26T06:23:10.225150+00:00","elapsed":0.031687118}