What the institutional money is doing on RIG right now — dark pool, options positioning, and where the news and the money disagree. Free.
News frames a balanced risk-reward, but the money shows no fresh conviction: no new option positions opened, and the call-heavy standing ratio is stale positioning, not a new bet on improvement.
The news is a promotional ranking with no new fundamental catalyst; the money shows zero fresh positioning and no surge in off-exchange accumulation to back a growth narrative.
Positive contract news arrived, but no new option positions opened yesterday and off-exchange volume stayed at its normal 20-day pace—institutions have not rushed to position ahead or after the announcement.
The contract is material and bullish on cash flow, but the money shows no fresh option positioning and quiet off-exchange volume—smart money has not yet repriced the stock on this news.
Earnings beat is positive noise, but the money shows no new conviction: zero fresh option bets, and the call-heavy standing ratio is old; off-exchange volume is normal, not a sign of institutional accumulation on the results.
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).
