Last chart before bed. This is the kind of chart that keeps me up at night.....I know it's overkill on the indicators, but look at the top and bottom Windows (SKEW & CPCE). These two combined have signaled some of the most epic crashes in modern history. SKEW measures extreme S&P tail risk, put another way, it's the level of extreme OTM downside, cheap,put protection. CPCE is the Put Call Ratio, and this level suggests that that the overall ratio of calls bought far out way puts. Added together.....wuff. Doesn't have to play out bad....but it is Q OPEX.....like I said, I don't sleep much.
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