BKNG

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

38.9%

20-day average

34.3%

Off-exchange share (20d)

34%

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

183.75

1.10B

180.52

1.39B

177.30

1.76B

174.07

2.18B

170.85

2.70B

167.63

4.02B

164.40

2.42B

161.18

1.47B

157.96

1.57B

154.73

1.80B

151.51

0.39B

148.29

0.29B

145.06

0.21B

141.84

0.20B

138.61

0.32B

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.