SPGI

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

69.6%

20-day average

45.2%

Off-exchange share (20d)

38%

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

486.29

13.2B

477.76

9.19B

469.23

3.89B

460.70

2.87B

452.17

5.13B

443.64

8.88B

435.11

10.6B

426.57

15.4B

418.04

19.3B

409.51

12.9B

400.98

7.79B

392.45

7.51B

383.92

9.06B

375.39

7.81B

366.85

7.67B

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.