TENB max pain for the Oct 16, 2026 expiry is $36, from the Fri Oct 2 options chain. The last price, $38.51, is 7.0% above it. Call wall $38 · put floor $30.
What the institutional money is doing on TENB right now — dark pool, options positioning, and where the news and the money disagree. Free.
The news frames Tenable as a bargain, and the money shows more calls than puts in both standing and recent flow—but no fresh institutional buying opened in the latest session, so the bullish lean is old, not new.
The news reports broad sector strength, and options flow leans bullish (more calls than puts), but the lack of new position opens suggests traders are not rushing to add fresh bets on Tenable specifically.
The news highlights Tenable's momentum credentials, and options positioning does lean toward calls, but the squeeze score is low (23) and no new institutional positions have opened, so the bullish tone rests on older positioning.
The news promotes Tenable as a growth pick, and options flow is call-heavy, but no fresh institutional buying has opened in the latest session, leaving the bullish case dependent on prior positioning.
The news warns that recent price strength may not last if earnings revisions stall, and while options flow leans bullish (more calls than puts), the low squeeze score (23) and absence of new position opens suggest limited conviction behind the move.
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).
