SPY Dark Pool Activity
State Street SPDR S&P 500 ETF T
Data as of Sep 11, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Sep 11, 2026, FINRA reported 15.6M SPY shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 10.1M of those shares (64.7%) were marked short or short-exempt, above SPY's 30-day rolling average of 60.1% (z-score 0.63).
Off-Exchange Volume
15.6M
Short Volume
10.1M
Short Volume Ratio
64.7%
30-Day Average
60.1%
z-score 0.63
SPY dark pool FAQ
- How much SPY off-exchange volume did FINRA report on Sep 11, 2026?
- FINRA's daily short sale volume file reported 15.6M SPY shares in publicly disseminated off-exchange trades on Sep 11, 2026; 10.1M of those shares (64.7%) were marked short or short-exempt.
- Is SPY's dark pool short volume ratio unusual right now?
- As of Sep 11, 2026, SPY's short volume ratio of 64.7% is above SPY's 30-day rolling average of 60.1% (z-score 0.63). 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.