PANW

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

39.1%

20-day average

46.1%

Off-exchange share (20d)

42%

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

299.69

0.92B

294.43

1.39B

289.17

1.50B

283.92

1.21B

278.66

1.81B

273.40

1.32B

268.14

1.07B

262.89

1.00B

257.63

1.71B

252.37

1.53B

247.11

2.11B

241.85

2.03B

236.60

1.26B

231.34

0.66B

226.08

0.50B

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.