Put/Call Ratios
Sentiment through put vs call activity
Track put/call ratios to gauge market sentiment.
| Metric |
Description |
| Open Interest Put/Call Ratio |
Put OI / Call OI |
| Volume Put/Call Ratio |
Put volume / Call volume |
| Premium Put/Call Ratio |
Put premium / Call premium |
| GEX Put/Call Ratio |
Put gamma exposure / Call gamma exposure |
Charts
Market Sentiment
- Open Interest Put/Call Ratio
- Volume Put/Call Ratio
- Premium Put/Call Ratio
- GEX Put/Call Ratio
Interpreting Ratios
| Ratio |
< 0.7 |
0.7 - 1.0 |
1.0 - 1.3 |
> 1.3 |
| Sentiment |
Very bullish |
Bullish |
Bearish |
Very bearish |
Different Ratio Types
| Ratio Type |
Best For |
| Volume |
Short-term sentiment (daily activity) |
| OI |
Longer-term positioning |
| Premium |
Institutional sentiment (dollar-weighted) |
| GEX |
Hedging pressure sentiment |
Contrarian Signals
| Extreme |
Signal |
| Ratio > 1.5 |
Extreme bearishness—potential bottom |
| Ratio < 0.5 |
Extreme bullishness—potential top |
Trend Confirmation
| Observation |
Meaning |
| Rising ratio in downtrend |
Confirms bearish momentum |
| Falling ratio in uptrend |
Confirms bullish momentum |
| Divergence |
Potential reversal signal |
Note: Put/call ratios are sentiment indicators. Extreme readings can persist.
