The Real DTCC Discussion

[BigBake1]

No way to know retail vs intra day MM action. Just as no way to know if it is long or short position taken. That is why it is worthless raw data, it is just a piece of the picture, you see the rest in the FTD report as to settlement and of course actual short positions taken in the Bi Monthly Short Interest reports.

Days to cover is the number of days in which the trade transaction must be settled. The settlement process is currently trade day plus 3 additional trade days to cover either the shares to deliver or the cash to deliver. Here in a couple of months it will be adjusted to trade day plus 2, since typically 99.9% of trade transactions are settled just on Trade Date alone.