IRONCLADResearch
Knowledge BaseGlossaryLearning PathsCalculatorsQuizzesPricingAbout
Sign inGet started
IRONCLADResearch

Clear, structured financial education. Education only — never financial advice.

Learn

  • Knowledge Base
  • Glossary
  • Learning Paths
  • Calculators
  • Fed Funds Rate
  • BoE Base Rate
  • Comparisons
  • Quizzes

Platform

  • Pricing
  • About
  • Contact & Support
  • Sign in

Legal

  • Disclaimer
  • Editorial Policy
  • Terms
  • Privacy

Disclaimer: Ironclad Research provides educational content only. Nothing on this platform is financial advice, a recommendation, or an offer to buy or sell any security. Always do your own research and consider professional advice before making financial decisions.

© 2026 Ironclad Research. All rights reserved.

  1. Home
  2. Glossary
  3. Days to Cover
GlossaryMarket Structure

Days to Cover

Short interest divided by average daily trading volume — roughly how many days of normal volume it would take short sellers to buy back all their positions. Also called the short-interest ratio.

Appears in these guides

  • Reading Short-Selling Data: Short Interest, Short Volume & Cost to BorrowMarket Structure

Related terms

Cede & CoClearing HouseCost to BorrowDark PoolDRSDTCCExchangeFails to DeliverHigh-Frequency TradingLiquidity

Related lessons

advancedMarket Structure

Naked Short Selling

Ordinary short selling borrows shares before selling them. Naked short selling skips that step — selling shares that were never borrowed or arranged for. It is tightly regulated in the US, it is one way 'fails to deliver' can arise, and it sits at the centre of one of the most heated debates in modern markets. Learn what it is, what Regulation SHO actually requires, the market-maker exemption, and how to read the controversy without the myths.

intermediateMarket Structure

Short Selling

How do you profit when a stock falls? You borrow it, sell it, and buy it back cheaper. Short selling is one of the market's most powerful — and most dangerous — mechanics: theoretically unlimited losses, a borrow fee, dividends you owe, and the ever-present risk of a short squeeze. Learn exactly how it works, where the borrowed shares come from, and why the risk is shaped so differently from going long.

Ironclad Research provides educational content only. Nothing on this platform is financial advice, a recommendation, or an offer to buy or sell any security. Always do your own research and consider professional advice before making financial decisions.