JEF max pain for the Oct 16, 2026 expiry is $47.50. The last price, $44.38, is 6.6% below it. Call wall $50 · put floor $42.50.
What the institutional money is doing on JEF right now — dark pool, options positioning, and where the news and the money disagree. Free.
This story is about a different company, Pennon, but JEF's own options show more puts than calls, which is a cautious lean that does not clearly match the news on the stock itself.
This is an analyst bullish call on Argenx, not JEF, and JEF's money signals lean defensive, so the two do not directly line up.
The story is bullish on AI infrastructure, while JEF's options lean toward more puts than calls, so the news and money signals point in different directions, though the story is not directly about JEF.
The partnership story is mildly positive for JEF, but its money signals are defensive with more puts than calls, and off-exchange volume is near its normal level, so there is no strong sign of big investors buying.
This story is about soft drinks rather than JEF's own business, and JEF's money signals are defensive, so there is no clear link between the news and the positioning.
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).
