DOW

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

44.4%

20-day average

45.2%

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

39.03

3.00B

38.34

4.03B

37.66

4.21B

36.97

4.26B

36.29

3.59B

35.60

4.23B

34.92

4.05B

34.24

3.14B

33.55

3.07B

32.87

2.26B

32.18

1.55B

31.50

1.26B

30.81

1.47B

30.13

1.59B

29.44

1.49B

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.