The basic difference
Total traded volume measures all shares traded during a session. Delivery volume is the portion reported for delivery. The difference between the two can be presented as calculated intraday quantity, provided that delivery quantity is available.
These values answer different questions. Total volume describes the scale of trading activity. Delivery volume describes how much of that quantity was marked for delivery. Delivery percentage expresses their relationship in a form that is easier to compare across dates.
The four related measures
| Measure | Meaning | Calculation |
|---|---|---|
| Total traded quantity | All shares traded during the session | Exchange-reported field |
| Delivery quantity | Shares reported as marked for delivery | Exchange-reported field |
| Delivery percentage | Delivery as a share of total quantity | Delivery ÷ total × 100 |
| Calculated intraday quantity | The non-delivery remainder | Total − delivery |
Suppose a stock has total traded quantity of 2,500,000 shares and delivery quantity of 1,000,000 shares. Its delivery percentage is 40%, and its calculated intraday quantity is 1,500,000 shares.
The word “calculated” matters. Delivery Volume derives the intraday quantity from the two published quantities. The result is useful for comparison but should not be described as a direct count of intraday traders, strategies or open positions.
Why total volume can be misleading on its own
A spike in total quantity shows that more shares changed hands than usual, but it does not describe how the delivery portion changed. Two sessions with equal total volume can have very different delivery quantities.
Consider two days with 5,000,000 shares traded. On the first day, delivery quantity is 1,000,000 shares, or 20%. On the second day, delivery quantity is 3,500,000 shares, or 70%. Total activity is identical, but the reported composition is different.
That difference can be worth investigating. It is not, by itself, proof of accumulation, distribution or future price direction.
Why delivery percentage can be misleading on its own
Percentages remove scale. A high percentage can occur on a quiet session with low absolute delivery quantity, while a moderate percentage can accompany much larger delivery quantity on an active session.
For example:
- Day A: 80,000 delivered out of 100,000 total shares equals 80%.
- Day B: 2,000,000 delivered out of 4,000,000 total shares equals 50%.
Day A has the higher percentage, but Day B has twenty-five times the delivered quantity. A useful review therefore considers the percentage, both underlying quantities and their recent history.
How price adds context
Price candles show the open, high, low and close for each trading day. Reading price and volume together can help describe what happened during a session, although it cannot reveal the identity or intent of participants.
Questions you can ask include:
- Did total volume expand while the closing price moved outside its recent range?
- Did delivery quantity expand with total volume or remain relatively stable?
- Was the delivery percentage unusual because delivery rose, total volume fell, or both?
- Did similar conditions persist for several sessions?
- Was an exchange filing or company event published around the same date?
The answers create a factual description. They do not remove the need for broader research.
Trade count is another separate field
Exchange trade count measures recorded trades, not individual traders. One person or automated system can participate in many trades, and a single trade does not reveal the ultimate beneficial owners involved.
Do not divide quantity by trade count and interpret the result as an average person’s position. At most, it is an average quantity per recorded exchange trade, which is a different and narrower statistic.
What happens when delivery data is missing
Total volume can be available while delivery quantity is missing. In that case, neither delivery percentage nor calculated intraday quantity should be inferred. Treating the missing delivery value as zero would incorrectly turn the full total quantity into calculated intraday quantity.
Delivery Volume displays unavailable values with a dash and keeps the related derived metric unavailable. The methodology page documents this rule and other import validation checks.
How to compare the chart views
On a stock page, begin with the total-volume view to locate high-activity dates. Switch to delivery volume and compare the height and direction of the bars. Then select calculated intraday quantity to inspect the remainder.
Use the tooltip for exact values rather than estimating solely from bar height. Make comparisons over a suitable time range, because one isolated date may be affected by a temporary event or ordinary variation.
The chart loads recent history first and can load older observations as you move back through time. Every page remains delayed end-of-day; none of the views should be interpreted as a live market feed.
Common interpretation mistakes
Avoid these shortcuts:
- “High delivery percentage always means buying.” The figure does not identify direction, identity or motivation.
- “Low delivery percentage always means speculation.” The figure alone cannot establish a strategy.
- “High volume means high delivery.” Total volume and the delivery portion can move differently.
- “Trade count means trader count.” The public field counts trades, not unique people.
- “One unusual day predicts tomorrow.” Historical description is not a price forecast.
Key takeaway
Total traded volume measures the entire session’s share quantity, while delivery volume measures the reported delivery portion. Delivery percentage connects the two, and calculated intraday quantity represents their difference. Read all four with price and historical context, preserve the distinction between reported and calculated fields, and verify critical information against the official source notes.