CBOE Stocks Put / Call Ratio

The CBOE all equities put / call ratio is a measure of market sentiment which
represents real money on the table from market players. CBOE Equities Put / Call

Note that when the weekly P/C drops below .55 it signals relatively heavy net
call buying and that it tends to foreshadow topping action. Note as well that when
the 13 week P/C ratio gets down to the .60 range, it tends to coincide with market
tops reflecting overly bullish bets. Fast corrective action last week and back in
mid- April has kept this indicator from flashing a strong and tradeable market
overbought (13 wk. reading of .60). Traders with skin in the game are bullish no
doubt, but are fast to alter bets when the tape gets wobbly. Something to keep in
mind.