one big reason why i think were due for a bounce (put/call)

its not that i think we cant see more puts, but every time weve seen a put/call ratio over 1.2 in the recent past it has been short lived.
my theory is essentially that a lot of assets have seen class specific or weight targeted pullbacks from mostly unexpected spikes that have brought down broader markets with increased levels of puts to calls. as outflows are detected, stocks bleed into a cash hungry marketplace that synergizes losses. this has driven puts into an overbought condition that simply cant last forever. this isnt an indication that were at a bottom in indices, but its likely that shorts will cover soon, and this will squeeze that cash back into portfolios as inflows start to pick up.

Trade closed: target reached:

i think the spread is about at a local minimum for broader matket puts
if your trade counts on calls increasing, i would take profit while you can