VRSK

Dark pool — off-exchange short volume

GEX Back to dark pool

Short ratio (latest)

72.5%

20-day average

67.1%

Off-exchange share (20d)

41%

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

210.11

2.09B

206.43

1.49B

202.74

1.76B

199.05

1.67B

195.37

1.96B

191.68

2.00B

188.00

2.81B

184.31

3.93B

180.62

5.88B

176.94

5.11B

173.25

4.08B

169.57

4.27B

165.88

3.04B

162.19

1.90B

158.51

1.36B

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.