APA

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

62.3%

20-day average

64.4%

Off-exchange share (20d)

35%

Darkpool density

big day, short ratio above trendbelow trendbubble size = how unusual ($vol z-score)

Last ~6 months. Bubbles mark days of unusually large off-exchange dollar volume (≥1.5σ vs the trailing 60 days). Daily resolution — not print-level data.

Darkpool levels ±15% of spot, since 2018-10-01

43.50

0.60B

42.73

0.74B

41.97

1.09B

41.21

1.49B

40.44

2.03B

39.68

2.21B

38.92

2.62B

38.15

3.10B

37.39

2.56B

36.63

2.55B

35.87

2.94B

35.10

2.75B

34.34

2.62B

33.58

2.33B

32.81

2.33B

Historical off-exchange $ volume at price: each day's volume spread across that day's range, summed over the full FINRA history. Heavy shelves often act as support/resistance magnets. Amber row = spot's bin.

Off-exchange short-volume ratio

short ratio (20d, right) daily off-exchange share (left)

FINRA daily TRF data, last 2 years. A persistently HIGH short ratio is mostly passive market-maker liquidity provision (commonly read as accumulation pressure) — not naively bearish.