GDX· VanEck Gold Miners ETF

Dark pool · off-exchange short volume

as of 2026-11-05

GDX's off-exchange short-volume ratio was 40.6% on 5 Nov 2026, above its 20-day average of 39.3%. Off-exchange trading was 29% of volume over the last 20 sessions. 8 sessions in the last six months had unusually large off-exchange dollar volume, the latest on 4 Nov 2026.

Short ratio (latest)

40.6%

20-day average

39.3%

Off-exchange share (20d)

29%

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

96.43

3.12B

94.74

3.35B

93.05

1.76B

91.36

2.10B

89.67

3.74B

87.97

5.08B

86.28

3.89B

84.59

2.82B

82.90

3.28B

81.21

2.10B

79.51

2.15B

77.82

3.45B

76.13

3.74B

74.44

4.06B

72.75

1.50B

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.