LUV

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

52.6%

20-day average

57.4%

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

46.92

4.05B

46.10

3.51B

45.28

3.78B

44.45

4.00B

43.63

4.44B

42.81

5.69B

41.98

6.27B

41.16

5.59B

40.34

3.60B

39.51

3.63B

38.69

3.07B

37.87

3.28B

37.04

4.68B

36.22

5.06B

35.40

5.33B

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.