Interesting Options read

This is op-ex week, but Friday wasn't. Maybe that doesn't matter, though. There was a lot of paying up for puts, however. Here are the major $-weighted P/C's. Over 2.0 means that they are paying up 2X (in quantity and price combined) for puts vs. calls, and it's the normal threshold for a ST buy. ILF 2.64 IWM 5.64 NDX 2.25 QQQQ 2.25 SPY 2.38 SPX 2.37 OEX 3.52 DJX 4.79 I'd be more inclined to dismiss this data, were it not so widespread. The only major to not be flashing a buy is the DIA. Maybe everyone was short puts, everywhere and decided to cover. I dunno. Today, the options data goes toward useless until next Tuesday or so. Still, technically, it's a Buy, plain and simple. Mark

This is op-ex week, but Friday wasn't. Maybe that doesn't matter, though.

There was a lot of paying up for puts, however.

Here are the major $-weighted P/C's. Over 2.0 means that they are paying up 2X (in quantity and price combined) for puts vs. calls, and it's the normal threshold for a ST buy.

ILF 2.64
IWM 5.64
NDX 2.25
QQQQ 2.25
SPY 2.38
SPX 2.37
OEX 3.52
DJX 4.79

I'd be more inclined to dismiss this data, were it not so widespread. The only major to not be flashing a buy is the DIA.

Maybe everyone was short puts, everywhere and decided to cover.

I dunno. Today, the options data goes toward useless until next Tuesday or so. Still, technically, it's a Buy, plain and simple.

Mark

Great data, where can one follow it easily?
Where does the number tend to sit?
If 2X is a buy, what tends to be a good sell?
Is the multiple on any particular ETF a better "tell" than another? Better early warning signal of a change in mood?

Thanks!
Scott

This is op-ex week, but Friday wasn't. Maybe that doesn't matter, though.

There was a lot of paying up for puts, however.

Here are the major $-weighted P/C's. Over 2.0 means that they are paying up 2X (in quantity and price combined) for puts vs. calls, and it's the normal threshold for a ST buy.

ILF 2.64
IWM 5.64
NDX 2.25
QQQQ 2.25
SPY 2.38
SPX 2.37
OEX 3.52
DJX 4.79

I'd be more inclined to dismiss this data, were it not so widespread. The only major to not be flashing a buy is the DIA.

Maybe everyone was short puts, everywhere and decided to cover.

I dunno. Today, the options data goes toward useless until next Tuesday or so. Still, technically, it's a Buy, plain and simple.

Mark

Great data, where can one follow it easily?
Where does the number tend to sit?
If 2X is a buy, what tends to be a good sell?
Is the multiple on any particular ETF a better "tell" than another? Better early warning signal of a change in mood?

Thanks!
Scott

HamzeiAnalytics.com streams the data all day long. Fari had a deal for TT users. I'll check to see if he still does. His site is voluminous.

The range is all over the map but normal is around 80-150.

.5 is a sell, 2.0 is a buy. I look at the major ETF's and Indices, mainly the OEX and Q's but others as well. Most of the time, I only view the options data as a short-term tell. One day. In fact, I'll typically wait for a counter indicated move and then trade off that.