Massive spike of 162.75% in Put/Call Ratio overnight in US. Second highest since January 2007 when data commenced. Only February 2010 was higher. Short squeeze incoming January.
An extremely high put-call ratio means the market is extremely bearish. To a contrarian, that can be a bullish signal that indicates the market is unduly bearish and is due for a turnaround. A high ratio can be a sign of a buying opportunity to a contrarian. An extremely low ratio means the market is extremely bullish.
Betmakers Chart, page-385
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