Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/nayboyer2](https://www.reddit.com/user/nayboyer2/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mx4j9p/dark_pool_dd_summary_and_a_quick_update_on_all/) | 

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[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)

Hey guys.

I just wanted to do a quick update on my [Missing Bananas post](https://www.reddit.com/r/Superstonk/comments/mvfs0c/over_30_of_gme_bananas_are_missing_from_bloomberg/) and relate it to some of the Dark Pool DDs that others have submitted this week to kind of drive the point home.

[u/broccaaa](https://www.reddit.com/u/broccaaa/) had a DD post about [FTDs and Massive Dark Pool Activity](https://www.reddit.com/r/Superstonk/comments/mvdgf5/the_naked_shorting_scam_in_numbers_ai_detection/) . His brain is wayyy wrinklier than mine and the detail of this research is truly amazing.

One of the big takeaways relating to OTC / dark pool trading can be summarized in this graph from his [post](https://www.reddit.com/r/Superstonk/comments/mvdgf5/the_naked_shorting_scam_in_numbers_ai_detection/):

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/pzrznz27ayu61.png?width=3076&format=png&auto=webp&s=8ddb45e3bd53673db4061e134a5c62969c16dda8)](https://preview.redd.it/pzrznz27ayu61.png?width=3076&format=png&auto=webp&s=8ddb45e3bd53673db4061e134a5c62969c16dda8)

Dark Pool trade data for OTC and ATS trade pool.

[u/broccaaa](https://www.reddit.com/u/broccaaa/) concludes that "Dark Pool activity ramped up massively at the start of January," the "total number of trades more than quadrupled," and "the average trade size dropped to around 50 shares per trade, remaining there ever since."

This table (also from his [post](https://www.reddit.com/r/Superstonk/comments/mvdgf5/the_naked_shorting_scam_in_numbers_ai_detection/)), shows the main Dark Pool participants (Shitadel being #1):

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/sxua5labbyu61.png?width=3600&format=png&auto=webp&s=842f17ef4ea5c15d559ddf4a61d803d198b8cfe1)](https://preview.redd.it/sxua5labbyu61.png?width=3600&format=png&auto=webp&s=842f17ef4ea5c15d559ddf4a61d803d198b8cfe1)

Total shares traded by firm for OTC and ATS pools since Jan.

Definitely take another look at his DD if you have a chance!

________________

[u/Doom_Douche](https://www.reddit.com/u/Doom_Douche/) had a great DD post, [A Deep Dive into Dark Pool Trading](https://www.reddit.com/r/Superstonk/comments/mv5kbm/deep_dive_into_dark_pool_trading_how_they_might/), where he shows how much more dark pool trading is happening with GME compared to other stocks. Again, super wrinkley stuff...

One big takeaway from this post was that these conclusions were made using an estimated GME float of 54.1 million rather than the 26.7 million that we can now deduce from the GME Proxy...

Using this table from his [post](https://www.reddit.com/r/Superstonk/comments/mv5kbm/deep_dive_into_dark_pool_trading_how_they_might/),

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/1hnlg27hhyu61.png?width=1440&format=png&auto=webp&s=9eb0a00bf02b090d9d0adc161675d07285c64ab3)](https://preview.redd.it/1hnlg27hhyu61.png?width=1440&format=png&auto=webp&s=9eb0a00bf02b090d9d0adc161675d07285c64ab3)

And making that little adjustment to the updated GME float...

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/xqht0ymwjyu61.png?width=956&format=png&auto=webp&s=6fc7e76eb7bb76b585a12f533605bb26e19f2f88)](https://preview.redd.it/xqht0ymwjyu61.png?width=956&format=png&auto=webp&s=6fc7e76eb7bb76b585a12f533605bb26e19f2f88)

Updated GME Float to 26.7 million - 49% of GME float traded OTC

Here's an approximation of what the updated graph would look like (Ape doesn't know how to make a new one)

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/yzd78ydb41v61.png?width=702&format=png&auto=webp&s=7b9972345434869f6bed154027bef492400bb285)](https://preview.redd.it/yzd78ydb41v61.png?width=702&format=png&auto=webp&s=7b9972345434869f6bed154027bef492400bb285)

Percent of Float Traded OTC - GME vs. Others

Yeah... I felt that too!

________________

Now for my updated post

Thanks [u/WSBdickhead](https://www.reddit.com/u/WSBdickhead/) for the updated Bloomberg Terminal screenshots. These are all streamlined to include the entire premarket and afterhours (4:00 - 20:00 EST). He was also able to change a few settings on the Default search criteria to include "Odd-lots" and potentially some other black magic that my brain was too smooth to understand.

Long story short - the "Custom" search criteria in the Bloomberg screenshots now equals the Nasdaq total daily volume. So no more missing bananas???

Not so fast... Let's analyze that data a little further. The missing volume is still not reporting on any of the Bloomberg exchanges. So these missing bananas are not even going through the "FINRA ADF" dark pool and therefore must be traded through some other OTC dark pool that is deeper and darker than whatever dark pool data is being reported as "FINRA ADF".

What we see by comparing the data is actually really interesting and I'd love some feedback on how we can use it, and what we can do with it.

Do we now have a window into the daily OTC / dark pool trade volume???

Total Volume data (Custom) - Bloomberg reported data = missing bananas (OTC)

FINRA ADF + missing bananas (OTC) = % of daily volume traded off-exchanges

I'll make a few more calculations from this updated data at the bottom of the post (see Excel screenshots).

Thanks again [u/Ravada](https://www.reddit.com/u/Ravada/) for the daily Bloomberg Terminal drops!

Original 4/13 Bloomberg Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/bn6iuqy36ru61.png?width=1918&format=png&auto=webp&s=65936b278cabee1385f2750f2884ac44ee0ca51c)](https://preview.redd.it/bn6iuqy36ru61.png?width=1918&format=png&auto=webp&s=65936b278cabee1385f2750f2884ac44ee0ca51c)

Original 4/13 - 69.6% daily volume traded off-exchanges

New 4/13 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/ty48gujq4ru61.png?width=720&format=png&auto=webp&s=796903c19cadd841cc8a8bb37eed352a6b870f6d)](https://preview.redd.it/ty48gujq4ru61.png?width=720&format=png&auto=webp&s=796903c19cadd841cc8a8bb37eed352a6b870f6d)

New 4/13 - 69.38% daily volume traded off-exchange

What changed?

Now Custom = Total daily volume. So these bananas aren't necessarily "missing", but are most definitely traded OTC / Dark pool.

Adding FINRA ADF volume + OTC (other?) volume means that 69.38% of 4/13 daily volume was traded off-exchange / in dark pools.

Original 4/14 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/8qg4oxmv9ru61.png?width=1918&format=png&auto=webp&s=545143c86da1aaf1b6eecdc10040808cab779e1e)](https://preview.redd.it/8qg4oxmv9ru61.png?width=1918&format=png&auto=webp&s=545143c86da1aaf1b6eecdc10040808cab779e1e)

Original 4/14 - 73.0% daily volume traded off-exchange

New 4/14 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/olkc97l0aru61.png?width=720&format=png&auto=webp&s=ea5ea0d6f7d4defb281dce96d2f21ce364f3673d)](https://preview.redd.it/olkc97l0aru61.png?width=720&format=png&auto=webp&s=ea5ea0d6f7d4defb281dce96d2f21ce364f3673d)

New 4/14 - 72.88% daily volume traded off-exchange

Adding FINRA ADF volume + OTC (other?) volume means that 72.88% of 4/14 daily volume was traded off-exchange / in dark pools.

Original 4/15 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/gcr4opr4aru61.png?width=1917&format=png&auto=webp&s=5684d8e2f1f6b63f782b22948ea40bd941287471)](https://preview.redd.it/gcr4opr4aru61.png?width=1917&format=png&auto=webp&s=5684d8e2f1f6b63f782b22948ea40bd941287471)

Original 4/15 - 70.9% daily volume traded off-exchange

New 4/15 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/r6gn75i8aru61.png?width=720&format=png&auto=webp&s=7e86f3517464077acf9b89c8938279b839f0090d)](https://preview.redd.it/r6gn75i8aru61.png?width=720&format=png&auto=webp&s=7e86f3517464077acf9b89c8938279b839f0090d)

New 4/15 - 70.61% daily volume traded off-exchange

Adding FINRA ADF volume + OTC (other?) volume means that 70.61% of 4/15 daily volume was traded off exchange / in dark pools.

I'm going to take a few shortcuts for the rest and just show you the new terminals and have the % off-exchange in the captions.

New 4/16 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/g43ghp6caru61.png?width=720&format=png&auto=webp&s=779d32b39fb3669657dfea3fbfd287053ef0fe45)](https://preview.redd.it/g43ghp6caru61.png?width=720&format=png&auto=webp&s=779d32b39fb3669657dfea3fbfd287053ef0fe45)

New 4/16 - 73.15% daily volume traded off-exchange

New 4/19 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/ic5rimefaru61.png?width=720&format=png&auto=webp&s=6c161854a3369f85c6bcdf55e2f4cf7a2ddff22f)](https://preview.redd.it/ic5rimefaru61.png?width=720&format=png&auto=webp&s=6c161854a3369f85c6bcdf55e2f4cf7a2ddff22f)

New 4/19 - 69.64% daily volume traded off-exchange

New 4/20 Terminal

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/mkdgrarharu61.png?width=720&format=png&auto=webp&s=7a2ad9248a1f85e9ea0bc06c15215c6165468d21)](https://preview.redd.it/mkdgrarharu61.png?width=720&format=png&auto=webp&s=7a2ad9248a1f85e9ea0bc06c15215c6165468d21)

New 4/20 - 69.41% of daily volume traded off-exchange

I don't have streamlined (4:00 - 20:00 EST) Bloomberg Terminal screenshots of 4/21 or 4/22, but 4/21 had roughly 66.53% of volume traded off-exchange and 4/22 had 67.06% of volume traded off-exchange.

Below is the raw data that I extracted from the terminals and calculations. The number of bananas traded OTC is highlighted, as is the total number of bananas traded off-exchange (OTC + ADF).

45,453,445 bananas were traded off-exchange over 8 low-volume trading days - that's 170.24% of the GME float!

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/i5vg2t92tzu61.png?width=1128&format=png&auto=webp&s=80937ebed59c4f25b00dece5e40f291ddaae9626)](https://preview.redd.it/i5vg2t92tzu61.png?width=1128&format=png&auto=webp&s=80937ebed59c4f25b00dece5e40f291ddaae9626)

GME Daily Volume

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/qex7h8dx8zu61.png?width=1151&format=png&auto=webp&s=db5831379cdf5c2331d160a2b01238c7d33d3f23)](https://preview.redd.it/qex7h8dx8zu61.png?width=1151&format=png&auto=webp&s=db5831379cdf5c2331d160a2b01238c7d33d3f23)

92.44% to 94.99% of Daily Trades are made Off-Exchange

All of the smallest trades are being made off-exchange. Look at the difference between size of trade (Bloomberg) and size of trade (Custom), which is the average size for the entire day. Now, I understand that most retail trades less than 100 shares are not routed to the exchange, but over 92% of all trades are routed through either "FINRA ADF" (dark pool) or traded OTC (darker pool).

People seem to pay attention when numbers are presented as money ($$$) so maybe someone will pay attention if we put some $$$ figures on what's been going on.

[![r/Superstonk - Dark Pool DD Summary and A Quick Update on all those Missing GME Bananas](https://preview.redd.it/zzwmv9l6azu61.png?width=1002&format=png&auto=webp&s=08c66affe961a132d17dbac6ca8657afb25e05c1)](https://preview.redd.it/zzwmv9l6azu61.png?width=1002&format=png&auto=webp&s=08c66affe961a132d17dbac6ca8657afb25e05c1)

Billions of dollars spent on GME are routed through Dark Pools

Over 6 days of low volume trading, $8.919 billion was spent on GME bananas. Good work apes!

They routed $2.95 billion through OTC dark pools and $3.33 billion through "FINRA ADF". Adding those together, $6.281 billion was routed off-exchange, accounting for 70.43% of the 6-day total ($8.919 billion).

Only $2.638 billion actually went through the exchanges.

This data seems to corroborate the DDs posted by [u/broccaaa](https://www.reddit.com/u/broccaaa/) and [u/Doom_Douche](https://www.reddit.com/u/Doom_Douche/) . And it seems abundantly clear that GME trades are being handled much differently than any of the other stocks that were investigated, both in terms of size of trade (the smallest trades are routed to darkest of dark pools), and percent of float (49% of GME float) that is traded OTC.

If we take the missing bananas for what I believe them to be (traded off-exchange in OTC dark pools), then 170.24% of the GME float was traded in OTC dark pools across 8 low-volume trading days...

TLDR: Over 90% of GME trades from 4/13 - 4/20 were routed through dark pools (FINRA ADF or OTC). Over 70% ($6.28 billion) of the money that was spent on GME bananas over this 6-day trading period was routed through dark pools (FINRA ADF or OTC). We may now how a way of tracking daily OTC / Dark pool numbers rather than waiting 2-4 weeks for FINRA data. They can't keep this up forever, especially if we can bring some attention to their corrupt antics for manipulating GME. And don't forget to VOTE!

Edit 1: Formatting
