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

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To: Q. who wrote (54)4/27/1997 11:03:00 PM
From: Andy H   of 167
 
This is such an extreme reading for the equity number that I thought it must be a misprint.

I have kept the combined CBOE put-call ratio for over 10 years, but have not specifically recorded the equity only numbers. I have looked at them casually over the years, particularly on extreme days. I don't ever recall seeing a number of over 1.00. Since I save the newspapers from these days, I checked the some numbers-for example:

Dec 8, 1994 (one of the highest put-call ratio I have ever recorded-1.34)- equity ratio was only .72 and about 75% of option volume was OEX and SPX-compare with the low index option activity of late.

Unfortunately, I don't have the numbers for the next day, Dec 9, 1994, which had the highest put-call ratio I have ever recorded.
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