ADM to announce Q3 earnings on November 3
Traders hold more calls than puts, but no new large positions have opened recently—the market is waiting for the earnings event rather than front-running it.
Business Wire · 10/06
Undercurrent · Money-flow snapshot
ADM Max Pain, Dark Pool & Options Flow
ADM max pain for the Oct 16, 2026 expiry is $82.50. The last price, $82.47, sits at max pain. Call wall $90 · put floor $80.
What the institutional money is doing on ADM right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
28.5% (market avg 49%)
Dark pool volume vs its norm
1.2×
Short share of that
52.9% (norm 49%)
Price
$82.47
Max pain
$82.50
Oct 16 exp
Call wall
$90
Oct 16 exp
Put floor
$80
Oct 16 exp
Put/Call ratio
0.75
Squeeze pressure
13
Dark pool share: 29% off-exchange — 20pp below the market
Off-exchange prints never touch the public book, so they move size without moving the quote. That is the point of using them. Most of the day cleared on the lit market — either there was nothing to hide, or the large players sat out. Short share of the off-exchange piece: 53% vs a 49% norm.
Source: FINRA · Mon 10/5 close
What it means: ADM shows a call-heavy lean across both standing positions and recent trading flow, with modest off-exchange activity running slightly short-biased relative to the name's own norm—a mixed signal that leans cautiously bullish but lacks conviction. The stock sits just below max pain ($82.50), with minimal squeeze pressure, suggesting option traders are not pricing in sharp moves.
News vs the money
ADM stock up 2.51% in latest session, outpacing broader market
Call-heavy positioning aligns with the price gain, but off-exchange volume is running at a modest premium to the name's norm with a slight short bias—consistent with routine institutional rebalancing rather than aggressive accumulation.
Zacks Investment Research · 10/05
China's soybean purchases could boost ADM's agriculture services
Option traders maintain a call-heavy stance, but no new bullish positions have been opened in size—the market is pricing in the opportunity without rushing to bet on it.
Zacks Investment Research · 10/05
ADM and CJ CheilJedang form joint venture in amino acid production
Call-heavy positioning persists, but no new material option positions have opened—traders are not yet pricing in a significant earnings or valuation lift from the deal.
GuruFocus · 10/02
ADM and CJ CheilJedang form joint venture in amino acid production
Call-heavy positioning persists, but no new material option positions have opened—traders are not yet pricing in a significant earnings or valuation lift from the deal.
Business Wire · 10/02
See it live, free
Get Undercurrent — the news behind the money →Add ADM to My Watchlist in the free SIGNUM HQ app (iPhone · Android) →New to this? Why'd It Move? turns today's move into a 60-second lesson →What is a “divergence”?
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.
How to read these numbers
Dark-pool volume — The share of trading executed off-exchange, at wholesalers and dark pools. About half of all US share volume prints there on an ordinary day, so the level by itself says almost nothing. What carries information is the distance from this name’s own recent norm, and whether the off-exchange size ran above its usual.
Off-exchange short share — How much of that off-exchange volume was sold short. The median across all listed names is about 49%, because wholesalers filling retail buy orders sell short and cover later. A reading near half is plumbing, not a bearish vote — compare it to the same name’s own 20-day norm.
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).
Nearby tickers
Today’s off-exchange leaders → · See all tickers →Today’s rankings — what broke from normal
Learn the numbers