Block Trade
A large transaction — typically 10,000+ shares — executed at once. Usually institutional buying or selling. Often signals conviction.
Options Flow
Unusual options activity, especially large call or put purchases. "Smart money" sometimes telegraphs directional bets through options before a move.
Dark Pool
Private exchanges where institutions trade large blocks without moving the public market. Activity often appears in volume data after the fact.
Volume Spike
When volume is significantly above the 20-day average. Suggests institutions are actively entering or exiting. Price direction tells you which.
OI (Open Interest)
The number of outstanding options contracts. Rising OI + rising price = bullish. Rising OI + falling price = bearish.
Put/Call Ratio
Compares put volume to call volume. High put/call = bearish sentiment. Low put/call = bullish sentiment. Contrarians watch extremes.