PACCAR vs. Cummins: What GTA Terminal Data Shows Big Money Doing in Truck and Engine Stocks (November 2026)

If you run trucks, you know these two names. PACCAR builds Kenworth and Peterbilt trucks, and Cummins builds diesel engines used in many heavy trucks, dump trucks and machines. Their stocks show how Wall Street sees freight and truck demand. In the first week of November 2026, GTA Terminal data from Global Traders Academy showed the two moving in opposite directions: options traders leaned toward calls in PACCAR, while the money in Cummins swung hard around its earnings report.

PACCAR: call-heavy options in a stock that is still in a downtrend

On November 6, 1,559,800 PACCAR shares traded away from the public exchanges, in dark pools and broker internalizers, according to GTA Terminal data. That was 1.2 times the stock's 20-session average and 37.0% of all its volume that day.

The options money leaned positive. In the latest scan reported on November 7, 76% of PCAR's options premium went into calls and 24% into puts. The chart was less upbeat: GTA's read showed PACCAR in a downtrend, below both its 50-day and 200-day averages, about 27% under its 52-week high, with an RSI of 34. The GTA Proprietary Pattern Model had no live setup on the daily chart. The full session is in GTA Wire's look at what big money did in PACCAR off the exchanges.

Cummins: a big expected move, then a swing in sentiment

Cummins reported quarterly results before the open on Thursday, November 5. Two days earlier, on November 3, the options market was already pricing in a large swing. With the shares at $506.86, the at-the-money straddle for the November 20 expiration cost about $45.30, which implied a move of roughly 8.9% in either direction, an expected range of about $461.56 to $552.15. That was about 7.2 times a typical session for the stock, which was down 22.0% over the prior three months. GTA Wire laid this out in its Cummins pre-earnings options preview.

On report morning, Cummins shares fell 2.5% to $460.00 in premarket trading, right around the low end of that priced-in range. Options traders leaned bullish at first: early on November 5, $453K in premium went into CMI, all of it in calls, with a put/call volume ratio of 0.66. The numbers are in GTA Wire's report-day flow on Cummins.

By the next session the picture had flipped. On November 6, 879,733 Cummins shares traded in dark pools, 1.6 times the 20-session average and 40.6% of the day's volume. In the latest scan reported on November 8, 100% of CMI's options premium was in puts. At the same time, the GTA Proprietary Pattern Model flagged a bullish inverted hammer on the daily chart, with the stock breaking out above the pattern's key level at $450.07. Confidence: Level 2 of 5. The chart and the flow disagree, a split covered in GTA Wire's Cummins off-exchange trading report.

What this means for truckers and fleet owners

• Truck makers: hopeful flow, weak chart. Call-heavy options in PACCAR suggest some traders are betting on a turn, but the stock is still well off its highs. A soft truck market usually means dealers are more willing to deal, so this can be a reasonable time to price out new or used units.

• Engines: no clear read yet. Cummins went from all calls on report day to all puts two sessions later, while its chart printed a low-confidence bullish signal. When the money cannot agree, wait for more data.

• Plan purchases on your numbers, not the market's. If your loads justify another truck, the market does not change that math. Treat this as background on pricing, not a reason to buy or wait.

A word of caution

Options flow, dark pool volume and chart patterns are a signal, not a guarantee. Put buying can be a hedge rather than a bet, a Level 2 of 5 pattern is a low-confidence read, and one week of trading does not set a trend. This article is market context for business owners, not investment advice. If the straddle math above is new to you, GTA's guide to how options price an expected move explains it in plain terms.

The bottom line

GTA Terminal data from early November 2026 shows traders hopeful on the truck maker and split on the engine maker. For more on reading this kind of data, see our guide to reading Wall Street's bets on your industry, and our Caterpillar vs. Deere data breakdown for the construction and farm side of the same week.

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