CPAY

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

87.6%

20-day average

78.2%

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

403.20

0.01B

396.12

0.04B

389.05

0.18B

381.97

0.68B

374.90

0.92B

367.83

1.02B

360.75

0.89B

353.68

1.63B

346.61

2.15B

339.53

1.85B

332.46

2.85B

325.39

2.78B

318.31

2.22B

311.24

2.62B

304.16

2.52B

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.