Why it matters
The largest print on any dark pool feed is often not a trade in the way a trader means it. A broker who worked a client's order all day may report the whole thing at the end as one average-price print: millions of shares, one price, one timestamp after the close. It looks like the biggest block of the day. It is a summary of hundreds of smaller fills that already happened.
That is why the Robinflow Dark Pool feed has a Report column. A row marked Live is a live block execution and counts toward the rankings, the levels and the alerts. A row with any other chip was reported for bookkeeping: it stays in the feed so nothing is hidden, but it is left out of rankings, levels and alerts so that a paper entry cannot masquerade as institutional conviction. Hover any chip in the app for its meaning.
| Chip | Full name | What it means |
|---|---|---|
| Live | Live block | Executed as a live block on the tape. Counts toward rankings, levels and alerts. |
| Avg price | Average price | The volume-weighted average of many fills, printed as one trade. |
| Late report | Late report | Reported after the fact, outside the normal reporting window. |
| Contingent | Contingent trade | Priced off another leg, usually an option or a hedge. |
| Deriv priced | Derivatively priced | The price came from a reference such as a VWAP or closing print, not the market at that moment. |
| Next day | Next-day settlement | Settles a day later than the regular cycle. |
| Cash sale | Cash sale | Settles the same day. |
| Seller | Seller's option | The seller chose the settlement date. |
| Off-market | Off-market report | Flagged as a bookkeeping report with no more specific reason code. |
What it does not tell you
- A flagged print is not fake. The shares did trade. The flag says the print is a report of trading, not a single decision at that time and price.
- The timestamp is the report time, not the trade time. Average-price and late reports often land after the close, hours after the underlying fills.
- The price may be synthetic. An average price or a derivatively priced fill is not a level anyone traded at in one go. That is why these prints do not build levels.
- Codes describe reporting, not intent. None of them says buy or sell, and none of them says who.
What it looks like in the data
On September 10, 2026, NVDA's largest print of the day was an average-price report of 1.7 million shares filed at 5:53 pm, after the close. The largest live block that morning was 41,100 shares.
All four rows appear in the feed. Only the live block counts toward rankings, levels and alerts. The average-price report printed at $218.36, the session's closing price, forty times the size of the largest live block. Not a recommendation.
| Time (ET) | Size | Price | Premium | Report | Counts toward levels |
|---|---|---|---|---|---|
| 9:49:23 am | 41,100 | $218.45 | $8.98M | Live | Yes |
| 3:43:21 pm | 300,000 | $218.24 | $65.5M | Contingent | No |
| 5:23:38 pm | 411,899 | $218.36 | $89.9M | Late report | No |
| 5:53:04 pm | 1,717,347 | $218.36 | $375.0M | Avg price | No |
Read together: a feed that ranked by raw size would put a $375 million paper summary at the top of the day. The Report column keeps it visible and keeps it out of the way.
