UVIX as the election approaches: an options-based trading tool
Seeking Alpha · 10/05
Undercurrent · Money-flow snapshot
UVIX Max Pain, Dark Pool & Options Flow
UVIX max pain was $40 as of 10/12.
What the institutional money is doing on UVIX right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
52.9% (market avg 51%)
Dark pool volume vs its norm
2.0×
Short share of that
45.8% (norm 51%)
Max pain
$40
as of 10/12
Call wall
$36
as of 10/12
Put floor
$32
as of 10/12
Put/Call ratio
0.79
as of 10/12
Squeeze pressure
15
as of 10/12
Dark pool share: Off-exchange volume ran 2.0× its norm — and only 46% vs a 51% norm of it was short
Off-exchange prints never touch the public book, so they move size without moving the quote. That is the point of using them. Volume rose while the short share stayed low, meaning most of that extra size was not sell-side. This is what quiet accumulation looks like on the tape.
Source: FINRA · Wed 10/14 close
News vs the money
See it live, free
Get Undercurrent — the news behind the money →Add UVIX to My Watchlist in the free SIGNUM HQ app (iPhone · Android) →New to this? Why'd It Move? turns today's move into a 60-second lesson →What is a “divergence”?
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.
How to read these numbers
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).
Nearby tickers
Today’s off-exchange leaders → · See all tickers →Today’s rankings — what broke from normal
Learn the numbers