Illumina to report third-quarter 2026 earnings on October 29
Standing options positions lean toward puts, while recent trading volume leaned toward calls, so the money has no clear view on this date.
PRNewsWire · 10/08
Undercurrent · Money-flow snapshot
ILMN Max Pain, Dark Pool & Options Flow
ILMN max pain for the Oct 16, 2026 expiry is $260, from the Fri Oct 9 options chain. The last price, $278.17, is 7.0% above it. Call wall $300 · put floor $230.
What the institutional money is doing on ILMN right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
44.6% (market avg 52%)
Dark pool volume vs its norm
0.7×
Short share of that
40.3% (norm 56%)
Price
$278.17
Max pain
$260
Oct 16 exp
Call wall
$300
Oct 16 exp
Put floor
$230
Oct 16 exp
Put/Call ratio
1.29
Squeeze pressure
10
Dark pool share: Only 40% vs a 56% norm of the off-exchange volume was short
Off-exchange prints never touch the public book, so they move size without moving the quote. That is the point of using them. Size was ordinary, but the sell side was light within it — not aggressive accumulation, yet no real selling pressure either.
Source: FINRA · Fri 10/9 close
What it means: Options positioning leans toward more puts than calls on open interest, but recent session volume leans call-heavy, so the signals are mixed. Dark pool activity looks ordinary, with off-exchange volume near its norm and short share below its own average.
News vs the money
Illumina releases SpliceAI2 to help find rare disease causes
This product news is neutral for the stock, and the mixed options and dark pool signals do not clearly point against it.
PRNewsWire · 10/08
Analysts' consensus rating on Illumina is Hold
A neutral analyst rating lines up with the mixed money signals, so there is no clear divergence.
Defense World · 10/07
Argent Capital Management buys a new Illumina stake
One fund's new stake is small compared with the options and dark pool data, which show no strong buying or selling pressure.
Defense World · 10/05
⚡ DIVERGENCEIllumina shares hit a new 52-week high
The price is near the top of its recent range, but options show more puts than calls on open interest, a cautious lean that does not match the rally.
Defense World · 10/01
See it live, free
Get Undercurrent — the news behind the money →Add ILMN 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