GFL max pain for the Oct 16, 2026 expiry is $40, from the Mon Oct 5 options chain. The last price, $42.52, is 6.3% above it. Call wall $45 · put floor $37.50.
What the institutional money is doing on GFL right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
27.8% (market avg 51%)
Dark pool volume vs its norm
0.9×
Short share of that
70.0% (norm 56%)
Put floor
$37.50
Oct 16 exp
Dark pool share: 28% off-exchange — 23pp 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: 70% vs a 56% norm.
Source: FINRA · Tue 10/6 close
What it means: GFL shows a bullish lean in standing option positions (more calls than puts) and traded flow, with modest squeeze pressure and no recent new positioning data to assess. Off-exchange activity on October 6 was neutral in regime, with short-sellers slightly elevated but within normal variance for the name.
News vs the money
GFL Environmental vs. Deluxe: Which Industrial Stock Wins?
Money signals show a call-heavy lean and balanced off-exchange positioning, but no new option bets are visible—suggesting existing holders are comfortable, not that fresh conviction is arriving.
Defense World · 10/06
GFL Environmental vs. Black Diamond Group: Head-to-Head Stock Matchup
Call-heavy option positioning and neutral off-exchange regime align with a steady, non-defensive posture, but the absence of new position data means no fresh conviction signal.
Defense World · 10/05
GFL Environmental Names Allen Gransch as Chief Operating Officer
The news is neutral-to-constructive, but money signals show no new option positioning around the announcement—existing call-heavy lean persists without fresh buying.
PRNewsWire · 10/01
Analysts Give GFL Environmental a 'Moderate Buy' Consensus Rating
Analyst bullishness aligns with the call-heavy option lean, but no new large option positions are opening—the money is not rushing to act on the rating.
Defense World · 09/30
GFL Environmental Declares Quarterly Dividend of $0.0169 per Share
Dividend news is constructive for income investors, and the call-heavy option lean is consistent with that posture, but no new hedging or defensive positioning has appeared.
PRNewsWire · 09/29
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).