Call/Put Ratio S&P 100 (OEX)

This indicator is calculated by dividing the weekly volume of S&P 100 call options by the weekly volume of S&P 100 put options. Big call volume appears at market tops and big put volume at bottoms. Call/put ratios of the indices like OEX and SPX are distorted and clouded by arbitrage and hedging and do therefore not always reflect true investor sentiment. The chart below shows you the weekly call/put ratio on a 4-week moving average to smooth out the swings.