SIGNUM HQ · Off-exchange tape

Dark Pool Volume Today

Every US stock, ranked by how far its off-exchange trading moved from its own normal — not by the raw percentage, which says almost nothing. Free, from FINRA.

Session of 2026-08-28. FINRA reported off-exchange volume for 11,663 symbols; the average across all of them was 51% of consolidated volume. 500 names cleared the $200M liquidity floor and are ranked below.

Biggest off-exchange volume multiples

Today’s off-exchange volume divided by the name’s own 20-day average. This is a stronger signal than the raw percentage.

Ticker	Day	Vol vs norm	Off-exch	Short	Norm	Dev
FNGR	+129.5%	18.7×	54.9%	56.0%	56.7%	-0.7%p
AFRM	+0.3%	6.5×	39.3%	50.4%	48.1%	+2.3%p
SOLS	+12.8%	6.2×	48.0%	30.9%	40.5%	-9.6%p
ESI	-4.3%	5.8×	44.0%	30.3%	25.3%	+5.0%p
SUNB	-0.6%	4.9×	37.0%	74.1%	70.3%	+3.8%p
PYPL	-12.7%	4.7×	41.9%	48.3%	42.8%	+5.5%p
PCG	-7.5%	4.0×	43.9%	28.8%	36.4%	-7.6%p
ESTC	+19.3%	3.9×	49.5%	45.2%	57.8%	-12.6%p
GAP	+12.9%	3.9×	44.2%	70.7%	61.3%	+9.5%p
TENB	+0.1%	3.8×	19.3%	67.3%	63.5%	+3.8%p

Price fell, size went through off-exchange

Down at least 2%, off-exchange volume at least 1.6x its own norm, and a lighter short share than usual. Someone took the other side of the decline away from the public book.

Ticker	Day	Vol vs norm	Off-exch	Short	Norm	Dev
PCG	-7.5%	4.0×	43.9%	28.8%	36.4%	-7.6%p
PURR	-9.5%	2.2×	44.8%	22.9%	39.6%	-16.7%p
GNRC	-6.8%	2.2×	40.7%	52.5%	59.3%	-6.8%p
IREN	-12.5%	2.0×	40.7%	40.2%	46.8%	-6.6%p
ASST	-6.0%	1.9×	48.9%	34.2%	43.1%	-8.9%p
BTG	-2.9%	1.9×	69.6%	27.2%	38.2%	-11.0%p
GFI	-4.3%	1.7×	29.4%	41.7%	50.2%	-8.5%p
DY	-4.4%	1.7×	46.1%	37.9%	49.2%	-11.3%p

Price rose, the short side got heavier

Up at least 1.5% while the short share of off-exchange prints ran at least 8 points above the name’s own norm. Strength met supply off-book.

Ticker	Day	Vol vs norm	Off-exch	Short	Norm	Dev
SLB	+4.2%	1.9×	35.5%	72.5%	48.0%	+24.5%p
ACM	+4.4%	3.5×	48.8%	75.2%	56.8%	+18.4%p
HQY	+3.2%	3.0×	45.3%	71.3%	58.2%	+13.1%p
UMC	+3.8%	1.7×	22.5%	71.2%	60.0%	+11.2%p
GAP	+12.9%	3.9×	44.2%	70.7%	61.3%	+9.5%p
NOW	+4.5%	1.8×	47.5%	51.5%	43.0%	+8.5%p

Short share furthest above its baseline

The short share of off-exchange prints, minus the name’s own 20-day norm. Positive means more short-side flow off-book than usual for this name.

Ticker	Day	Vol vs norm	Off-exch	Short	Norm	Dev
SN	-0.8%	0.7×	38.5%	70.9%	42.3%	+28.6%p
SLB	+4.2%	1.9×	35.5%	72.5%	48.0%	+24.5%p
B	-3.5%	1.7×	45.1%	77.2%	53.0%	+24.2%p
FNV	-1.9%	1.1×	28.1%	79.2%	55.9%	+23.3%p
APO	+1.2%	0.7×	43.1%	79.7%	56.5%	+23.2%p
JAZZ	-2.6%	1.5×	69.7%	88.1%	65.7%	+22.4%p
WELL	-0.6%	1.0×	45.3%	80.9%	59.3%	+21.6%p
BUD	+1.3%	2.0×	33.8%	81.7%	60.4%	+21.3%p
PM	+0.7%	0.4×	20.1%	65.1%	44.4%	+20.7%p
RVTY	-0.7%	0.7×	26.2%	67.5%	46.8%	+20.7%p

Short share furthest below its baseline

The same measure, inverted. A large negative reading means unusually little of the off-exchange size was sold short.

Ticker	Day	Vol vs norm	Off-exch	Short	Norm	Dev
AFL	-0.1%	2.0×	46.1%	13.5%	55.2%	-41.7%p
MDLN	+1.8%	1.0×	63.1%	17.0%	48.1%	-31.1%p
IR	-0.5%	1.1×	50.7%	15.8%	46.1%	-30.3%p
XOM	+0.2%	0.9×	37.6%	17.0%	46.3%	-29.3%p
CARR	-0.1%	1.4×	45.4%	17.6%	46.3%	-28.7%p
LVS	+1.8%	1.7×	35.5%	26.5%	55.2%	-28.7%p
ACGL	+0.1%	2.9×	45.0%	20.7%	47.8%	-27.1%p
NDAQ	-0.0%	0.8×	25.8%	16.8%	42.8%	-26.0%p
EOG	-0.8%	1.1×	40.6%	36.2%	60.9%	-24.7%p
ILMN	-5.3%	1.0×	51.1%	39.4%	63.5%	-24.1%p

How to read these numbers

The raw percentage is not a signal. Roughly half of all US share volume prints away from the public order book on an ordinary day. A name at 45% off-exchange is not "heavily dark-pooled" — it is normal. Only the distance from its own baseline carries information.

The short share is not a bearish vote. Across 11,663 symbols the median off-exchange short share is about 49%. Wholesalers filling retail buy orders sell short and cover later, so half of that column is plumbing, not positioning. Compare it to the same name’s own norm, never to 50%.

Volume multiple beats percentage. A name printing 2x its usual off-exchange size is saying something. A name printing 55% instead of 50% is not.

This is T+1, not live. FINRA publishes the prior session. Nothing here is an intraday feed, and nothing here is a prediction.

Method and source

Source: FINRA Reg SHO Daily Short Sale Volume, the regulatory record every US off-exchange trade is reported to. All three Trade Reporting Facilities are summed per symbol.

Off-exchange share = off-exchange volume divided by consolidated volume for the same session.

Baselines are each symbol’s own trailing 20 sessions. A name needs at least 10 sessions of history before any multiple or deviation is shown.

Only names above $200M in consolidated dollar volume are ranked — multiples get large easily in thin names.

ETFs are excluded. Authorized participants short the fund while creating and redeeming shares, which swings the off-exchange short share mechanically. Left in, they fill every deviation list and mean nothing.

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Data source: FINRA. Provided free and without additional charge. Educational and informational only — not investment advice, and no guarantee of accuracy or results.