TMO

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

42.7%

20-day average

35.5%

Off-exchange share (20d)

37%

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

550.54

26.3B

540.88

28.8B

531.22

27.4B

521.56

25.2B

511.91

24.6B

502.25

16.6B

492.59

17.0B

482.93

20.2B

473.27

17.6B

463.61

17.4B

453.95

13.9B

444.30

11.9B

434.64

8.64B

424.98

11.5B

415.32

10.1B

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.