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< BACK TO ALL REPORTS

NOT the lowest put call ratio ever

Jason Goepfert
2020-12-17

There has been quite a bit of chatter that we're seeing the lowest put/call ratios ever. Well, no. Based on the most accurate data we have, which looks at who is actually doing what, then yes it is. The problem is that the data ends in 2000, and it's definitely troubling.

But if we take a broader view and look at the total put/call ratio as calculated by the CBOE, then we're seeing a 15-year low, but not an all-time low.

If we zoom in on that prior time period, we can see that it wasn't a big worry for stocks.

What is a big worry is that Gamma Exposure has skyrocketed again and just hit a record high. This is an estimate of how much dealers will have to sell of S&P 500 stocks for every 1% rise. When it's been above $7.5 billion, the S&P has struggled to hold its gains.

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