Justa, I don't have yet a "quantitative way" of including th DJX options in the model, I have not followed them enough, and even at bottoms (like Jan 2 or March 22) the DJX options are lopsided to the puts, I wish someone would graph these, but I don't have the time right now. 10:1 however, is very lopsided and more recently numbers in excess of 5:1 were associated with tops, if memory serves (check the April 19th, and the recent peak last week).
By the way, I just looked at the DJX P/C ratio, it is not lopsided at all, I see 17000 puts vs about 13,000 calls, where is the 10:1 from?
Zeev
Zeev |
