What the institutional money is doing on HEI right now — dark pool, options positioning, and where the news and the money disagree. Free.
Defensive hedging (puts outweigh calls 1.6-to-1) and flat new positioning suggest institutions are protecting downside rather than betting on a breakout despite the earnings beat.
Put-heavy hedging persists despite bullish fundamentals (record backlog, M&A firepower), indicating options traders are bracing for a pullback rather than riding the strength.
No new option positions opened; existing put-heavy stance unchanged, leaving the market's true conviction on the call's content unresolved.
Defensive put hedging (1.61× puts to calls) contradicts the record-profit narrative, suggesting options traders expect a near-term correction despite the strong fundamentals.
Put-heavy positioning (1.61× puts to calls) and no new bullish option bets suggest the market is hedging downside risk despite the earnings beat and margin expansion.
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).
