What the institutional money is doing on TMO right now — dark pool, options positioning, and where the news and the money disagree. Free.
Institutional buying in equity form does not show up in options positioning, and dark-pool activity suggests institutions are actually trimming or hedging rather than accumulating—a mismatch worth noting.
Equity purchases by advisors do not align with the off-exchange distribution pattern and slight defensive lean in options, suggesting public narrative of accumulation masks underlying caution.
Multiple equity purchases by institutions conflict with dark-pool distribution regime and balanced-to-defensive options positioning, indicating insiders may be rotating rather than adding conviction.
Product news carries no immediate signal in options or dark-pool data; positioning remains flat and defensive, suggesting the market has not yet priced in material upside from this innovation.
Broadcast mention does not correlate with options activity or dark-pool accumulation; money flow remains subdued and distribution-leaning, indicating professional traders are not responding to media chatter.
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).
