Goldman Sachs stock outpaces the broader market
Calls and puts are balanced on standing positions, so the money is not clearly leaning toward the upside this story describes.
Zacks Investment Research · 10/09
Undercurrent · Money-flow snapshot
GS Max Pain, Dark Pool & Options Flow
GS max pain for the Oct 16, 2026 expiry is $940. The last price, $895.32, is 4.8% below it. Call wall $1,000 · put floor $800.
What the institutional money is doing on GS right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
39.3% (market avg 52%)
Dark pool volume vs its norm
1.0×
Short share of that
39.2% (norm 41%)
Price
$895.32
Max pain
$940
Oct 16 exp
Call wall
$1,000
Oct 16 exp
Put floor
$800
Oct 16 exp
Put/Call ratio
0.89
Squeeze pressure
5
Dark pool share: 39% off-exchange — 13pp 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: 39% vs a 41% norm.
Source: FINRA · Fri 10/9 close
What it means: Goldman Sachs options positioning is balanced on open interest, but recent trading volume leaned toward puts, so the money signals are mixed. Dark pool activity is near its normal level, with no clear accumulation or distribution signal.
News vs the money
Should you buy Goldman before its Q3 earnings or wait?
Standing options positions are balanced, while recent trading volume leaned toward puts, which does not clearly match the cautiously optimistic tone of the story.
Zacks Investment Research · 10/09
Another group of stocks is falling as bond yields climb
Options positioning is balanced and recent volume leaned toward puts, which is consistent with the concern about rising yields.
Fool - Investing News · 10/09
Earning $500 a month from Goldman stock before earnings
Options positioning is balanced and recent volume leaned toward puts, so the money does not show a strong bullish bet behind this income framing.
Benzinga · 10/09
Goldman's top executives set to receive $500 million in stock awards
Standing options positions are balanced and dark pool activity is near normal, so the money shows no clear reaction to this pay story.
24/7 Wall Street · 10/09
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Get Undercurrent — the news behind the money →Add GS 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