CRL max pain for the Oct 16, 2026 expiry is $280, from the Fri Oct 2 options chain. The last price, $310.77, is 11.0% above it. Call wall $320 · put floor $270.
What the institutional money is doing on CRL right now — dark pool, options positioning, and where the news and the money disagree. Free.
The consensus $290 target sits $20.77 below the current price of $310.77, yet options traders are net long calls and short puts—a bullish lean that contradicts the analysts' cautious stance.
The company's forward guidance is constructive, but options traders show no new positioning to confirm conviction—no fresh call or put buildup—leaving the bullish call lean as stale positioning rather than fresh money betting on the plan.
No new options positions were opened around the event, and off-exchange volume that did occur was dominated by short sales (67.5% short vs. a 50.5% norm), indicating institutions were hedging or reducing exposure rather than accumulating on the strategic message.
Despite the company's emphasis on profitable growth, the off-exchange activity shows institutions were net short sellers (67.5% short), and no new call positions were opened—a mismatch between the bullish narrative and the actual money flow.
This is a relative-value story with no direct bearing on CRL's own money signals; the options market shows no new positioning to suggest a shift in how CRL is valued against peers.
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 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).
