LDOS max pain for the Oct 16, 2026 expiry is $125, from the Mon Oct 5 options chain. The last price, $119.45, is 4.4% below it. Call wall $135 · put floor $115.
What the institutional money is doing on LDOS right now — dark pool, options positioning, and where the news and the money disagree. Free.
The deal closure aligns with a bullish options lean (more calls than puts), but no new large option positions opened around the announcement, and dark-pool volume shows no institutional buying surge.
Options positioning remains call-heavy, consistent with constructive sentiment, but the lack of new option-opening activity suggests institutional traders are waiting for more clarity on execution.
Call-heavy options positioning is consistent with confidence in leadership, but no new option positions were opened to capitalize on the appointment.
Options remain call-heavy and dark-pool short-selling is below the 20-day norm (51.5% vs. 54.5%), suggesting the stake reduction is routine rebalancing rather than a bearish institutional exit.
Despite the stock underperforming, options traders remain call-heavy and short-squeeze pressure is low, indicating no panic hedging and continued structural support near the $115 put floor.
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).
