First time that the calls exceed puts post covid. Congratulations! But what does that mean for the stock market?
From my point of view, I do not think it's normal for calls to exceed puts, as even in the most bearish time - March 2020, the puts are always larger than calls. But this time the opposite.
It's unfortunate as TradingView does not have the data from...
Total collapse in downside hedging since April 2020. This is not put to call ratio, just SPX index puts, nothing more.
Chart is 15 week exponential moving average to smooth data.
The Chart included
shows the level of Put Volume PVSPX on the S+P 500
Note that the pattern shows
that despite breaking to new price lows in late 2018 at 2346,
the actual level of put buying did not reach the spike high in Feb.2018,
when the S+P low was at 2532.
That is called a divergence and in this case I believe
it may ultimately resolve itself with a New...
