jorj,
i would ignore high p/c ratio during expiration week. esp the double witching week. feb being one.
but non expiry week, p/c ratio seems to indicate st bottom and st top. some, like zeev, prefers to use only equity put/call ratio, which i dont think you get charts, as it has to hand calc from cboe data.
in this bear market, it seems whenever epc is lower than 0.5 it put in a st top. but the high epc not necessarily gives us a bottom. saying that, today's epc is quite high
in 0.8+ region. but as late as 06/10 we also got a epc at 0.813 ... however, the total p/c (including index) is quite high today at 1.2. to compare, 6/06 was 1.03, 6/11 was 1.02
therefore, 1.2 is quite high. either there are lots of puts on index got bot as insurance, or lots of puts being closed as they were bot earlier ? the ratio doesn't tell us. one has to compare open interest on indices to figure that out and the open interest wont be updated until monday.
under cboe market data, one can find historical data under market stats. |
