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TECH

Dark pool — off-exchange short volume

Short ratio (latest)
59.8%
20-day average
52.7%
Off-exchange share (20d)
43%

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

59.68
1.04B
58.63
1.15B
57.58
0.92B
56.54
0.68B
55.49
0.55B
54.44
0.93B
53.40
1.30B
52.35
1.42B
51.30
1.40B
50.26
1.14B
49.21
0.93B
48.16
0.81B
47.11
0.51B
46.07
0.32B
45.02
0.22B

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.