PM Dark Pool Activity
PAPA JOHNS INTL INC
Data as of Oct 23, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Oct 23, 2026, FINRA reported 1.5M PM shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 762K of those shares (50.1%) were marked short or short-exempt, below PM's 30-day rolling average of 52.0% (z-score -0.16). Over the last 10 FINRA sessions (Oct 12, 2026 – Oct 23, 2026), PM's off-exchange short volume ratio ranged from 25.4% to 55.0% and averaged 42.9%; the latest reading is above that 10-session average.
Off-Exchange Volume
1.5M
Short Volume
762K
Short Volume Ratio
50.1%
30-Day Average
52.0%
z-score -0.16
Daily readings — last 10 FINRA sessions
| Date | Off-exchange shares | Short shares | Short ratio |
|---|---|---|---|
| Oct 12, 2026 | 1.5M | 480K | 31.4% |
| Oct 13, 2026 | 970K | 416K | 43.0% |
| Oct 14, 2026 | 1.5M | 653K | 44.1% |
| Oct 15, 2026 | 2.8M | 716K | 25.4% |
| Oct 16, 2026 | 2.3M | 784K | 34.6% |
| Oct 19, 2026 | 1.3M | 656K | 48.9% |
| Oct 20, 2026 | 1.8M | 754K | 42.9% |
| Oct 21, 2026 | 2.5M | 1.4M | 53.6% |
| Oct 22, 2026 | 1.7M | 917K | 55.0% |
| Oct 23, 2026 Latest | 1.5M | 762K | 50.1% |
Source: FINRA daily short sale volume (off-exchange). Ratio = ShortVolume ÷ TotalVolume for the day.
PM dark pool FAQ
- How much PM off-exchange volume did FINRA report on Oct 23, 2026?
- FINRA's daily short sale volume file reported 1.5M PM shares in publicly disseminated off-exchange trades on Oct 23, 2026; 762K of those shares (50.1%) were marked short or short-exempt.
- Is PM's dark pool short volume ratio unusual right now?
- As of Oct 23, 2026, PM's short volume ratio of 50.1% is below PM's 30-day rolling average of 52.0% (z-score -0.16). Meridian's dark pool model does not flag this reading as an anomaly.
- What does the dark pool short volume ratio measure?
- FINRA publishes daily short sale volume for trades reported off-exchange to its trade reporting facilities, which include dark pools and other off-exchange venues. The ratio divides FINRA's ShortVolume figure, which counts both short and short-exempt sales, by the total off-exchange shares reported for that day. It is not short interest and not a directional signal: market-maker hedging and reporting mechanics can raise it, so it is context for other signals.