CDW

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

52.8%

20-day average

50.5%

Off-exchange share (20d)

40%

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

148.34

1.30B

145.73

1.40B

143.13

1.56B

140.53

1.67B

137.93

1.43B

135.32

1.08B

132.72

1.16B

130.12

1.05B

127.52

1.28B

124.92

2.59B

122.31

2.37B

119.71

1.35B

117.11

0.77B

114.51

0.66B

111.90

1.16B

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.