JOBY max pain for the Oct 9, 2026 expiry is $6.50. The last price, $5.78, is 11.1% below it. Call wall $6.50 · put floor $5.50.
What the institutional money is doing on JOBY right now — dark pool, options positioning, and where the news and the money disagree. Free.
News highlights upside potential and operational progress, but money signals show institutions quietly selling off-exchange (distribution regime, short share 5 points above norm) without pushing the stock higher—a sign of skepticism beneath the headlines.
The legal loss is neutral to slightly negative news, and money positioning remains balanced with no new hedging activity—market has already priced in competitive pressure.
News is operationally bullish with near-term catalysts, yet options show balanced call-to-put flow and institutions are in distribution mode off-exchange—money is not rushing to front-run the certification wins.
Positive operational news, but money shows no new bullish positioning and remains in distribution—institutions are not accumulating ahead of revenue announcements.
Narrative is bullish on long-term disruption, but money signals show balanced options flow, low squeeze pressure, and quiet institutional selling off-exchange—smart money is not betting on a near-term re-rating.
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).
