BITO — The money right now

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).