TJX max pain for the Oct 9, 2026 expiry is $132. The last price, $134.41, is 1.8% above it. Call wall $135 · put floor $132.
What the institutional money is doing on TJX right now — dark pool, options positioning, and where the news and the money disagree. Free.
Price is up, but off-exchange volume shows distribution (13.4 points above normal short-selling levels) and volume below the stock's own 20-day norm, indicating institutions are quietly exiting rather than buying into the rally.
Analysts project 28% upside to ~$172, yet the call-to-put ratio is balanced and max pain sits at $132, suggesting options positioning expects the stock to stay range-bound or drift lower, not rally sharply.
Bullish analyst sentiment clashes with dark-pool distribution regime and elevated short-selling off-exchange, signaling that informed traders are reducing exposure despite positive ratings.
No new options positioning data available; cannot assess whether the market is favoring one off-price retailer over the other based on money signals.
This story does not involve TJX and provides no relevant money signal for the ticker.
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).
