I have viewed the OEX P/C as a "smart money" indicator for many years now, though recently it hasn't been as good. Still, I look at it.
I view the VIX P/C as a measure of smart money and that's not hard to figure. Amateurs don't know what the VIX is, let alone how to or if they should trade it, with options.
Both these measures are suggesting that those in the know don't want to be short premium or long the market.
This has little meaning beyond today.