What the institutional money is doing on AA right now — dark pool, options positioning, and where the news and the money disagree. Free.
News is upbeat on long-term sector growth, but money shows heavy defensive hedging (3:1 put-to-call ratio) and no institutional accumulation, signaling skepticism about near-term gains.
News frames deal as strategic opportunity despite the selloff, yet money shows put-heavy defensive positioning (0.7 standing put-call ratio) with no call-side buying to match the optimism.
Positive operational news, but institutional money remains put-heavy (0.7 put-call ratio) with minimal call flow, showing no conviction buying despite the supply certainty.
Broad market rally is negative for aluminum (lower energy costs reduce Alcoa's pricing power), and money confirms this with put-heavy hedging (0.7 ratio) and no bullish call accumulation.
Negative macro backdrop aligns with money signals: defensive put hedging (0.7 put-call ratio), minimal call buying, and low squeeze score (10) all point to caution, not conviction.
A divergence is when the news narrative and the institutional money flow point in opposite directions — a bearish headline while large call premium is bought, or heavy dark-pool selling under a bullish story. It signals the crowd and the desks may disagree.
Dark-pool volume — The share of trading done off-exchange, where institutions move size quietly. Well above ~40% means big players are active.
Max pain — The price where the most options expire worthless — positioning often gravitates toward it near expiry.
Call wall / Put floor — Strikes with the heaviest call/put open interest — they often act as short-term resistance and support.
Put/Call ratio — Below ~0.7 leans bullish (more calls); above ~1 leans defensive (more puts).
