TMV max pain for the Oct 16, 2026 expiry is $42. The last price, $50.84, is 21.0% above it. Call wall $54 · put floor $47.
What the institutional money is doing on TMV right now — dark pool, options positioning, and where the news and the money disagree. Free.
News forecasts TMV gains from rising yields; the options market holds more calls than puts, but no new positions opened recently, suggesting existing holders are waiting rather than accumulating.
News frames TMV as a structural hedge with positive long-term bias; options positioning is call-heavy but static, with no fresh buying or selling pressure evident.
News is constructive on TMV's near-term backdrop; options show call-heavy positioning but no new accumulation, indicating sentiment is set but not intensifying.
News highlights a technical milestone; options remain call-heavy but show no new position openings, so the breakout is not yet backed by fresh derivative hedging or speculation.
News ties TMV upside to a specific risk driver (Middle East); options positioning is call-heavy but static, with no evidence of new hedging or speculative positioning around this event.
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).
