CVNA

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

80.6%

20-day average

68.0%

Off-exchange share (20d)

45%

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

76.58

0.91B

75.24

1.06B

73.89

1.51B

72.55

1.88B

71.21

1.78B

69.86

2.07B

68.52

2.26B

67.18

2.42B

65.83

2.12B

64.49

2.18B

63.14

1.71B

61.80

1.37B

60.46

1.31B

59.11

1.39B

57.77

1.11B

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.