TDG max pain for the Oct 16, 2026 expiry is $1,130, from the Tue Oct 6 options chain. Call wall $1,210 · put floor $1,000.
What the institutional money is doing on TDG right now — dark pool, options positioning, and where the news and the money disagree. Free.
The deal announcement drew no measurable new option positions, and standing options remain heavily call-biased (0.29 put-to-call), but off-exchange volume is running below normal, suggesting institutions are not aggressively repositioning around the close.
No new option positions were opened around the deal close, and call-heavy positioning (0.29 put-to-call) persists with subdued off-exchange activity (0.78x normal), indicating muted institutional reaction.
Standing options remain call-heavy (0.29 put-to-call) with no new positions detected, and dark-pool volume is below the stock's recent norm, suggesting the deal completion has not triggered fresh institutional hedging or accumulation.
Call-heavy option positioning (0.29 put-to-call) and low squeeze pressure (10) persist with no new position data, while off-exchange volume trails the stock's 20-day average, indicating a lack of fresh institutional positioning around the close.
Option traders are already call-heavy (0.29 put-to-call) with minimal squeeze risk, but no new large positions have opened, and off-exchange volume is below normal—suggesting the analyst call may be late to existing bullish positioning rather than a fresh catalyst.
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).
