Five international ETFs are up at least 20% in 2026 and beating the S&P 500
Zacks Investment Research · 09/30
Undercurrent · Money-flow snapshot
AIA Max Pain, Dark Pool & Options Flow
AIA max pain was $144 as of 10/11.
What the institutional money is doing on AIA right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
57.3% (market avg 51%)
Dark pool volume vs its norm
2.4×
Short share of that
81.7% (norm 54%)
Max pain
$144
as of 10/11
Call wall
$145
as of 10/11
Put floor
$120
as of 10/11
Put/Call ratio
0.24
as of 10/11
Squeeze pressure
35
as of 10/11
Dark pool share: Off-exchange volume ran 2.4× its norm — but 82% vs a 54% norm of it was short
Off-exchange prints never touch the public book, so they move size without moving the quote. That is the point of using them. The size showed up, but most of it printed short — closer to hedging or trimming than to fresh buying. Same volume surge, opposite meaning.
Source: FINRA · Wed 10/14 close
News vs the money
iShares Asia 50 ETF short interest more than doubled in September
Defense World · 09/28
AIA: Asia's AI and semiconductor concentration
Seeking Alpha · 09/16
Ameritas Advisory adds 4,619 shares of iShares Asia 50 ETF
Defense World · 09/12
South Korea ETFs are pulling back, but the long-term outlook looks promising
Zacks Investment Research · 09/02
See it live, free
Get Undercurrent — the news behind the money →Add AIA 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