What the institutional money is doing on RL right now — dark pool, options positioning, and where the news and the money disagree. Free.
News highlights growth tailwinds, but options positioning leans heavily defensive with 2.26× more puts than calls in standing positions, signaling insiders are hedging upside bets rather than chasing them.
E-commerce strength is bullish news, but the money is accumulating quietly off-exchange (78 stealth score, 51% dark-pool share) with defensive put hedging dominant—positioning suggests caution despite the upbeat sales story.
Industry inclusion is neutral to positive news, but options hedging remains put-heavy (2.26× ratio) with no new large directional bets, suggesting the market is not rushing to chase the narrative.
Value-focused framing is constructive, but options flow remains balanced on calls (0.76× today's volume ratio) while puts dominate standing positions—no conviction shift visible in the money.
Sector tailwinds are positive news, but RL's options positioning remains put-heavy (2.26× puts to calls) with defensive accumulation off-exchange—money is not aggressively buying into the narrative.
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).
