ECL

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

32.3%

20-day average

41.6%

Off-exchange share (20d)

38%

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

293.19

0.28B

288.04

0.63B

282.90

1.67B

277.75

3.42B

272.61

5.35B

267.47

6.48B

262.32

8.96B

257.18

5.69B

252.04

5.13B

246.89

5.23B

241.75

3.81B

236.61

3.39B

231.46

2.54B

226.32

2.24B

221.17

2.85B

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.