There was some talk below about the high SPX P/C. The nominal is now at 3.54. The $-weighted, however, is at 1.05. So, somone is buying puts, perhaps, but they aren't paying up for them.
More ominous is the SPY. They do as much volume there as in the SPX. The nominal there is just 1.09. The $-weighted, however, is at 0.30. That's Bearish, folks. The context, too, hints at smart money buying puts, dumb money paying up for Calls.
If that wasn't enough, the QQQQ's have a $-weighted P/C of 0.53. The OEX nominal, which is not a fade, is rising, however.
None of this is screaming "SELL!" but it's enough to warrant some caution.
Mark
Heads Up on P/C's
Started by
OEXCHAOS
, Jun 19 2007 05:05 PM
2 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 19 June 2007 - 05:05 PM
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#2
arbman
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Posted 19 June 2007 - 05:21 PM
Does anyone think this means anything? The trins on nyse and nasdaq closed above 1 but, yet it is around 0.26 (heavy buying) on amex.
It looks like a lot of fund buying while the exchanges are being distributed to me...
#3
ogm
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Posted 19 June 2007 - 06:09 PM
Nasdaq down volume was much higher then up volume too. 1.1 bil down vs 760 mil up. And Equity P/C held steady at the lows all day since the open.
