SATS

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

71.8%

20-day average

55.1%

Off-exchange share (20d)

44%

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

130.19

1.74B

127.90

2.77B

125.62

3.50B

123.34

4.02B

121.05

3.24B

118.77

2.78B

116.48

2.61B

114.20

2.70B

111.92

2.44B

109.63

2.66B

107.35

2.21B

105.06

1.39B

102.78

0.58B

100.50

0.25B

98.21

0.23B

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.