MCK max pain for the Oct 16, 2026 expiry is $890. The last price, $915.45, is 2.9% above it. Call wall $970 · put floor $850.
What the institutional money is doing on MCK right now — dark pool, options positioning, and where the news and the money disagree. Free.
The insider sale contrasts with options traders' sustained call-heavy positioning and balanced off-exchange activity, suggesting retail or technical buyers may be offsetting institutional trimming.
The positive news aligns with options traders' call-heavy lean and low squeeze pressure, indicating confidence in upside without panic hedging.
Despite macro headwinds from surging yields, MCK options remain call-heavy with no defensive put buildup, suggesting traders are pricing in company-specific resilience over macro sensitivity.
Options positioning remains call-heavy and squeeze-free, consistent with a constructive sector narrative, though no fresh large position data confirms new institutional conviction.
The contract win reinforces the call-heavy options lean and low squeeze score, with price sitting comfortably above max pain, reflecting trader confidence in sustained upside.
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).
