HWM

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

46.3%

20-day average

42.0%

Off-exchange share (20d)

39%

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

280.20

0.13B

275.20

0.67B

270.19

0.96B

265.19

0.51B

260.19

2.14B

255.18

3.89B

250.18

3.60B

245.18

1.92B

240.17

2.19B

235.17

1.42B

230.17

1.05B

225.16

1.33B

220.16

1.32B

215.15

1.84B

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.