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Strategies & Market Trends : Investor sentiment surveys - a technical indicator

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To: Q. who wrote (48)4/14/1997 1:07:00 PM
From: Q.   of 167
 
Does anybody else think that last weeks AAII sentiment numbers look
like 12/4/87 and 7/26/96? Those turned out to be close to market
bottoms.

Friday's equity (excluding index) put/call volume ratio worked
out to 0.72. I computed this from the numbers at the CBOE web page
cboe.com. Here's an excerpt.

CBOE Market Stats for April 11, 1997

Put/Call Ratio: .92

CBOE CALL PREMIUM: 14.02

CBOE PUT PREMIUM : 12.05

VIX OPENING VALUE: 22.99
VIX HIGH VALUE : 23.24
VIX LOW VALUE : 21.44
VIX CLOSING VALUE: 22.21

Equity Option

TOTAL EQUITY CALL VOLUME: 221,452
TOTAL EQUITY PUT VOLUME: 158,917
TOTAL VOLUME: 380,369

Index Option

TOTAL INDEX CALL VOLUME: 252,896
TOTAL INDEX PUT VOLUME: 277,341
TOTAL VOLUME: 530,237
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