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MarketAxess Holdings Inc. (MKTX) Options Positioning, Max Pain & Unusual Sweeps

$165.48 +0.11% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $165.91

MarketAxess Holdings Inc. (MKTX) earns a Roarable Rating of A- (Buy) with 83/100 RQD Confidence. High-quality cash engine (steady margins, 28% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE A- • BUY Cap $5.82B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on MKTX Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is MKTX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, MarketAxess Holdings Inc. (NASDAQ: MKTX) is rated A- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 83/100 at a spot price of $165.48 (+0.11% 1D, market cap $5.82B). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 15/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 18/20, and Executive Insider Alignment 17/20. Across 1097 tracked Financials issuers, MKTX ranks #4 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does MKTX compare to GLXY and SNEX in the Financials sector?
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Within the Financials sector (Investment Bankers/Brokers/Service), MKTX carries a Roarable A- (83/100 RQD), trailing P/E of 23.5x, gross margin of —, and ROIC of 28.4%. By comparison, GLXY (Galaxy Digital Inc.) holds a E grade (25/100 RQD, P/E N/A, ROIC -5.5%, cap $6.25B) and SNEX (StoneX Group Inc.) posts a D+ grade (53/100 RQD, P/E 21.7x, ROIC 1.5%, cap $6.37B). Among the 5-stock peer group, SNEX leads on earnings multiple (21.7x) while MKTX leads on capital efficiency (28.4% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for MKTX?
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Per MKTX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001278021), MarketAxess Holdings Inc. generated $846.3M in revenue (+3.6% YoY), $246.9M in net income, and $373.9M in free cash flow against $1.93B in total assets and $349.5M in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $165.91 (+0.26%)🧬 Cannibal Buyback (-2.64% YoY Shares)⚙️ Cash Engine: 18/20 (A) • 44.2% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 83/100 (A-) historically ranked in the Top 7% of excess returns over the next 90 days (+8.7% avg 90D alpha vs SPY • 72.2% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERBUY • A-
025507510083
3-of-3 JEV AI Jury Bullish
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw A- · Rk A-
Cash (18)Whales (15)SEC (15)Macro (18)CEO (17)
Each axis scored 0–20
12M PRICE TARGET CONE+11.3% Base Target
$217 Bull$184 Base$136 Bear
📬 FREE MKTX RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for MKTX)Realized 20D OHLCV Swing Band: ±1.8%
Deterministic 5-Pillar Attribution (83/100 Composite)
🔍 WHY MKTX SCORES 83/100 (A-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Cash Engine Quality+18/20 pts (22% of score)

SEC XBRL FY 2025 (10-K): 44.2% FCF Margin ($373.9M FCF) & 52% Gross Margin

▲ #2 Bullish Driver: Macro Regime Fit+18/20 pts (22% of score)

FRED Regime × Technicals: 65% of 52W Range • RSI-14 at 68.5 (BULLISH MOMENTUM)

▼ #1 Drag / Risk Factor: SEC 10-K Forensic Risk15/20 pts (-5 pt drag)

Balance-sheet & 10-K footnote risk deducts 5 pts from forensic ceiling

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
75
Grade B+$164.50-0.1% Next Q
Q2 (-2Q)
78
Grade A-$164.26+0.3% Next Q
Q3 (-1Q)
80
Grade A-$164.82+0.4% Next Q
Current
83
Grade A-$165.48+8.7% Hist 90D α
Trajectory: B+ (75) → A- (83)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the MKTX Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 83/100 (A-) score, MKTX faces multiple-compression risk if 23.5x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.64% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($163.94) or 200D SMA ($155.18) invalidates the momentum regime and cuts Target Base ($184.10) toward Bear Floor ($135.69).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $MKTX• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “MKTX Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 83%NO 17%Trade / Inspect Odds →
CALL VS. PUT WHALE SHARE
— (No Active Options Snapshot)
Put/Call Ratio: — (No Active Options Snapshot)
MAX-PAIN EXPIRATION MAGNET
— (No Active Options Snapshot)
No active options chain max-pain snapshot on file
HISTORICAL 20D VOLATILITY SWING
±1.8%
Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (MKTX)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for MKTX.

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ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher + Options & Swing Structure Desk

Whale Flow & Momentum Playbook: Evaluating MKTX & AI Leaders Without Chasing Tops

  • ✓Institutional whale strikes & implied earnings move audit on MKTX
  • ✓How disciplined traders manage risk using pre-published trigger & invalidation levels
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on tracked leaders
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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MKTX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +6.84%▲ RESISTANCE BREAKOUT
2026-11-03O $164.9H $165.5L $164.9C $165.5VOL 931.1K
RES: $163.1SUP: $164.8SMA50: $163.9SMA200: $155.2
$181.5$161.8$142.1$122.4$102.6RES $163.1SUP $164.8$165.52026-05-042026-06-182026-08-052026-09-212026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

MKTX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 MKTX Butterfly Map → + Track MKTX →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
17.3%/yr Implied 5Y Growth

vs. +3.6% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on MKTX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for MKTX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for MKTX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (MKTX)

Financials Rank #4 of 1097 ⚔️ GLXY vs MKTX Full Matrix →

1. Head-to-Head Financials Peer Comparison (MKTX vs. GLXY, SNEX, BGC, MRX)

Industry: Investment Bankers/Brokers/Service (64 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, MarketAxess Holdings Inc. (MKTX) ranks #4 by composite RQD confidence (83/100, grade A-) and #250 by equity capitalization ($5.82B). Within this direct 5-issuer industry benchmark cohort, SNEX leads on earnings valuation at 21.7x trailing P/E, while MKTX leads on capital efficiency and profitability with 28.4% ROIC and — gross margin. MKTX currently leads its immediate peer cohort in composite quantitative strength at 83/100 (A-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
MKTX ACTIVE
MarketAxess Holdings Inc.
A- 83/100 23.5x — 28.4% +0.11% $5.82B Benchmark Subject
GLXY
Galaxy Digital Inc.
E 25/100 — — -5.5% -8.81% $6.25B /glxy-vs-mktx →
SNEX
StoneX Group Inc.
D+ 53/100 21.7x — 1.5% +2.04% $6.37B /snex-vs-mktx →
BGC
BGC Group Inc. (Class A)
C 65/100 36.3x — 15.1% +1.60% $5.24B /bgc-vs-mktx →
MRX
Marex Group Limited
C- 59/100 32.8x — 9.9% +0.76% $4.77B /mrx-vs-mktx →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001278021 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), MarketAxess Holdings Inc. (MKTX) reported GAAP revenue of $846.3M (+3.6% vs. FY2024 revenue of $817.1M , and +12.5% cumulative change since FY2023) , GAAP net income of $246.9M, operating cash flow of $382.1M, and free cash flow of $373.9M (-0.4% YoY). On the balance sheet, MKTX closed FY2025 with $1.93B in total assets against $349.5M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 7/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $846.3M $246.9M $382.1M $373.9M $1.93B $349.5M
FY2024 (FY) 2024-12-31 $817.1M $274.2M $385.2M $375.3M $1.79B $180.3M
FY2023 (FY) 2023-12-31 $752.5M $258.1M $333.8M $299.9M $3.19B $747.0M

3. MKTX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is MKTX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, MarketAxess Holdings Inc. (NASDAQ: MKTX) is rated A- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 83/100 at a spot price of $165.48 (+0.11% 1D, market cap $5.82B). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 15/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 18/20, and Executive Insider Alignment 17/20. Across 1097 tracked Financials issuers, MKTX ranks #4 in composite RQD confidence.

How does MKTX compare to GLXY and SNEX in the Financials sector?

Within the Financials sector (Investment Bankers/Brokers/Service), MKTX carries a Roarable A- (83/100 RQD), trailing P/E of 23.5x, gross margin of —, and ROIC of 28.4%. By comparison, GLXY (Galaxy Digital Inc.) holds a E grade (25/100 RQD, P/E N/A, ROIC -5.5%, cap $6.25B) and SNEX (StoneX Group Inc.) posts a D+ grade (53/100 RQD, P/E 21.7x, ROIC 1.5%, cap $6.37B). Among the 5-stock peer group, SNEX leads on earnings multiple (21.7x) while MKTX leads on capital efficiency (28.4% ROIC).

What are the biggest fundamental strengths and SEC risk factors for MKTX?

Per MKTX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001278021), MarketAxess Holdings Inc. generated $846.3M in revenue (+3.6% YoY), $246.9M in net income, and $373.9M in free cash flow against $1.93B in total assets and $349.5M in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

Where is MKTX trading relative to its 50-day, 200-day, and 52-week technical levels?

MKTX last traded at $165.48 (+0.11% on volume of 904,154 shares), positioning the stock +0.94% above its 50-day simple moving average ($163.94) and +6.64% above its 200-day simple moving average ($155.18). Across its 52-week range of $108.75 to $195.97, MKTX sits at the 65.0% percentile with a 14-day RSI of 68.5 (BULLISH MOMENTUM) and an implied next-earnings move of ±1.8% ($162.50 to $168.46).

Direct Sub-Reports: MKTX RQD Cockpit MKTX 12M Forecast MKTX Earnings & Move MKTX Dividends & DRIP MKTX Insiders & 13F MKTX Whale Options MKTX Profit Sankey MKTX News & Why
ROARABLE RATING BRIEF • RQD 83/100 (A-) ✓ SEC XBRL & RQD VERIFIED

MKTX — MarketAxess Holdings Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

MarketAxess Holdings Inc. (MKTX) earns a live Roarable RQD composite score of 83/100, corresponding to a A- letter grade (Roarable Buy) at a spot price of $165.48 (+0.11% 1D, market capitalization $5.82B).

  • Fundamental Cash Engine (18/20): Anchored by return on invested capital (ROIC) of 28.4%, gross margin of —, operating margin of 40.4%, and free cash flow yield of 6.44%.
  • Whale 13F & Options Flow (15/20) + Insider Conviction (17/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (18/20) + Forensic Balance Sheet (15/20): Incorporates a 1.02x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 7/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

MarketAxess Holdings Inc. Is a NASDAQ-listed issuer in the Financials sector, operating in the Investment Bankers/Brokers/Service industry..8B.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), MarketAxess Holdings Inc. (MKTX) reported $846.3M in annual revenue (up from $817.1M in FY2024, +3.6% YoY) and $246.9M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($752.5M revenue, $258.1M net income) through FY2025, MKTX scaled operating cash flow to $382.1M and free cash flow to $373.9M, backed by $1.93B in total assets against $349.5M in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (A- • RQD 83/100): Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Big institutional funds and options desks are actively positioning on the bullish side. With Fundamental Cash Engine at 18/20 and Institutional Whale Flow at 15/20, sustained execution supports upside toward the upper end of the $108.75 – $195.97 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Broader market pullbacks can still drag down strong stocks in the short run. Investors must weigh 23.5x trailing P/E and 16.1x EV/EBITDA against 40.4% operating margins and a 1.02x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

There are no upstream or downstream links, no proprietary signals, and the supply chain is classified as NONE.

  • Key Question #1: Can MKTX sustain or expand its 40.4% operating margin and 28.4% ROIC against Investment Bankers/Brokers/Service peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $846.3M and free cash flow of $373.9M, how will capital allocation balance growth reinvestment against $349.5M in total debt?
  • Key Question #3: How sensitive is MKTX's 21.9x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 1.02x)?

MKTX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for MarketAxess Holdings Inc. (MKTX) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to MKTX Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

MKTX Bull vs. Bear Conversation Board — What's Your Call at $165.48?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON MKTX 🐻 33% BEARISH CONVICTION
1. Pick Your Side on MKTX:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MI MidwestValue RQD DEBATE OPENER • Fundamental Long-Only 🐂 BULLISH 🎯 Target: $203.32 (+23.0%)
📌 Pinned Debate

Per the Roarable RQD rating, ROIC of 28.4% and an FCF yield of 6.44% support a 18/20 fundamental cash engine score.

The street is overcomplicating MarketAxess Holdings Inc. (MKTX). Per the Roarable RQD rating, ROIC of 28.4% and an FCF yield of 6.44% support a 18/20 fundamental cash engine score.. With an RQD score of 83/100 (A-) and Forensic Balance Sheet at 15/20, any positive earnings surprise or guidance raise forces underweight funds to chase above $178.52.

VolSurface_Trader 🐂 BULL

Both sides have a point here — MKTX's 15/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

SK SkepticalCFA RQD DEBATE OPENER • Fundamental Contrarian 🐻 BEARISH 🎯 Target: $133.89 (-19.0%)
Spot @ $165.30

Per the SEC financials, net income fell from $274.2M (FY 2024) to $246.9M (FY 2025) while debt rose to $349.5M.

I respect the product at MarketAxess Holdings Inc., but the stock at $165.30 is a different story. Per the SEC financials, net income fell from $274.2M (FY 2024) to $246.9M (FY 2025) while debt rose to $349.5M.. FCF yield is 6.44% and RQD sits at 83/100 (A-) — why pay up here when you can wait for next quarter's numbers?

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