ICE

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

30.3%

20-day average

24.9%

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

159.87

7.20B

157.07

12.7B

154.26

9.82B

151.46

6.19B

148.65

4.68B

145.85

4.72B

143.04

1.77B

140.24

1.30B

137.44

0.94B

134.63

3.73B

131.83

3.21B

129.02

3.51B

126.22

3.17B

123.41

3.97B

120.61

2.88B

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.