PACCAR Flips to 92% Puts as Allison Transmission Draws 98% Calls: GTA Terminal Data for Truck Buyers and Fleets (November 12, 2026)

Two days ago the options money in PACCAR leaned heavily toward calls. In the November 12 session it swung the other way. According to GTA Terminal data from Global Traders Academy, 92% of the premium in the latest PACCAR scan went into puts, while Allison Transmission, the company behind many of the automatic transmissions in vocational trucks, drew 98% calls. Here is what each stock showed, and how fleet owners and truck buyers can read the split.

PACCAR: puts take over, dark pools below normal

The PACCAR dark pool check for November 12 on the GTA Wire shows 921,055 PCAR shares traded away from the public exchanges that day. That was 0.7 times the stock's own 20-session average and 39.0% of all its volume.

The trend in off-exchange shares has been falling all week: 1,559,800 on November 6, 1,472,895 on November 9, 1,189,852 on November 10, 1,076,010 on November 11 and then 921,055 on November 12. The share of volume rose on the last day only because overall trading was lighter.

In the latest options scan, 8% of PACCAR's premium went into calls and 92% into puts. That is a sharp turn from the 86% and 94% call readings we covered on November 10 and 11. The GTA Proprietary Pattern Model had no live setup on PACCAR's daily chart. The stock was in a downtrend, below both its 50-day and 200-day averages, 24% below its 52-week high, with an RSI of 49. You can follow the stock on the PACCAR quote and institutional flow page.

Allison Transmission: call-heavy and near overbought

The Allison Transmission off-exchange report counted 247,738 ALSN shares traded in dark pools and broker internalizers on November 12. That was 0.8 times normal and 41.0% of volume, up from 32.3% on November 11.

The options money pointed the opposite way from PACCAR: 98% of ALSN premium went into calls and 2% into puts. The chart was also stronger. Allison was in an uptrend, above both its 50-day and 200-day averages, 9% below its 52-week high, with an RSI of 74, which counts as overbought. There was no live pattern setup. The ALSN stock page shows the latest readings.

What the split means for truck buyers and fleets

Both companies sell into the same customers: fleets, vocational operators and the dealers who serve them. The data does not forecast truck orders, but it shows big money separating the two names.

• Class 8 buyers. A put-heavy lean in a truck builder that is already in a downtrend suggests large investors are protecting against softer new-truck demand. If that shows up at dealers, it can mean more inventory and more room on price and terms for buyers who are ready.

• Vocational fleets. Steady call money in Allison, whose transmissions go into dump trucks, refuse trucks and other work trucks, points to more confidence in that corner of the market. Vocational spec trucks may not see the same discounting as highway tractors.

• Two days is not a trend. PACCAR flipped from calls to puts in 48 hours. Watch whether the lean holds over a few sessions before you read much into it, and remember the dark-pool volume was below normal in both names.

A word of caution

Options flow and dark pool volume are a signal, not a guarantee. A large put position can be a hedge against shares someone already owns, and an overbought chart can stay overbought or reverse quickly. This is market data for context, not investment advice. Pair it with your own quotes, delivery times and maintenance costs.

Keep reading

For the earlier side of this story, see our look at PACCAR's 86% call reading next to an oversold Cummins and our report on Allison's double bottom and vocational truck demand. To dig into the numbers yourself, start with GTA's options flow data.

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