Knight-Swift Dark Pool Volume Climbs All Week, J.B. Hunt Splits, Cummins Turns Oversold With 81% Puts: GTA Terminal Data for Truck Fleets (November 3-10, 2026)

Truckload carriers and the companies that build their engines often move together: when freight is strong, fleets buy trucks, and engine and parts makers sell more. GTA Terminal data from Global Traders Academy for November 3 to 10, 2026 showed that link under strain. Knight-Swift, the largest truckload carrier, saw off-exchange trading climb steadily all week with puts leading its options. J.B. Hunt traded below its key averages with balanced options. And Cummins, which builds the diesel engines in a large share of Class 8 trucks, turned deeply oversold with 81% of its options money in puts. Here is what that means for fleet owners and owner-operators.

Knight-Swift: dark-pool volume climbs for a week

According to GTA's November 10 report on Knight-Swift's off-exchange trading, 1,992,919 shares traded in dark pools on November 9, 1.3 times the 20-session average and 46.5% of all volume. The build was steady: 1,127,398 shares (30.2% of volume) on November 3, then 1,890,110 on November 4, 1,699,910 on November 5 and 1,924,549 on November 6. In the latest options scan, premium split 40% calls and 60% puts. The chart was in a downtrend, below the 50-day and 200-day averages and 26% below the 52-week high, with an RSI of 45.

J.B. Hunt: below its averages, options balanced

J.B. Hunt was trading at $224.34 during the November 10 session, just under its 20-day average of $225.73 and well below its 50-day average of $236.10, near the middle of its 20-day range of $215.53 to $235.97. Options premium was split 52% calls and 48% puts, and 389,218 shares traded off the exchanges on November 9, about 1.0 times normal. GTA's read had the chart leaning bearish and the other two signals mixed. The J.B. Hunt quote and data page tracks those levels.

Cummins: oversold, with puts in charge

In the November 10 dark pool check on Cummins, 559,921 shares traded off the exchanges on November 9, 1.0 times normal and 40.6% of volume, far below the 1,377,395 shares of November 5. The latest options scan showed 19% calls and 81% puts. The chart was in a downtrend, 39% below its 52-week high, with an RSI of 21, deep in oversold territory.

What it means for fleets and owner-operators

• A soft freight read. Put-leaning options at Knight-Swift and Cummins, plus weak charts at both carriers, point to a market that still sees freight demand as sluggish. That usually keeps spot rates under pressure.

• Possible buyer's market for trucks. When engine makers and big carriers are out of favor, used-truck values and new-truck pricing tend to soften. Fleets with steady contracts may find better deals on tractors and trailers.

• Heavy off-exchange interest at Knight-Swift. A week-long climb in dark-pool volume shows big investors were active, but dark-pool data does not reveal whether they were buying or selling. Treat it as a sign something is being repositioned.

• Oversold can bounce. An RSI of 21 at Cummins is extreme. If freight news improves, sentiment can turn fast, and the window for discounted equipment can close with it.

For earlier freight data, see our posts on truckload and intermodal carriers on November 9 and on PACCAR's chart against its options flow.

A word of caution

Options flow and dark-pool volume are a signal, not a guarantee. Puts can be hedges, balanced readings carry little direction, and oversold stocks often rebound. These are last-session and intraday figures from November 3 to 10. This is market context, not investment advice. The GTA Terminal updates these freight reads every session.

The bottom line

From November 3 to 10, Knight-Swift's dark-pool volume climbed to 1.3 times normal with puts leading, J.B. Hunt sat below its key averages with balanced options, and Cummins turned deeply oversold with 81% puts. For fleets, that adds up to a soft freight backdrop and a market where truck buyers may hold the stronger hand.

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