SMH

Dark pool · off-exchange short volume

as of 2026-11-05

SMH's off-exchange short-volume ratio was 50.6% on 5 Nov 2026, below its 20-day average of 61.9%. Off-exchange trading was 40% of volume over the last 20 sessions. 2 sessions in the last six months had unusually large off-exchange dollar volume, the latest on 30 Oct 2026.

Short ratio (latest)

50.6%

20-day average

61.9%

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

574.87

21.8B

564.78

23.9B

554.70

22.7B

544.61

21.8B

534.53

11.6B

524.44

10.1B

514.36

4.93B

504.27

1.85B

494.18

0.19B

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.