UNG· United States Natural Gas Fund

Dark pool · off-exchange short volume

Dark pool as of 2026-11-04 · latest session 2026-11-05

UNG's off-exchange short-volume ratio was 45.8% on 4 Nov 2026, below its 20-day average of 61.3%. Off-exchange trading was 58% of volume over the last 20 sessions. 26 sessions in the last six months had unusually large off-exchange dollar volume, the latest on 25 Sep 2026.

Short ratio (latest)

45.8%

20-day average

61.3%

Off-exchange share (20d)

58%

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

10.41

1.88B

10.23

0.91B

10.04

0.64B

9.86

0.32B

9.68

0.31B

9.50

0.30B

9.31

0.16B

9.13

0.25B

8.95

0.12B

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.