SBAC

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

37.3%

20-day average

36.8%

Off-exchange share (20d)

40%

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

235.43

3.05B

231.30

3.30B

227.17

3.79B

223.04

4.12B

218.91

5.24B

214.78

6.51B

210.65

5.66B

206.52

4.75B

202.39

3.12B

198.26

3.06B

194.13

4.83B

190.00

5.06B

185.87

4.51B

181.74

2.16B

177.61

0.95B

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.