Replies to post #132210 on ajtj99's Market Pulse

[ajtj99]

cdeeley, it's just an indication that equity option buyers, who typically are not so smart money, are very optimistic early in the day. That's usually a contrarian indicator, which means they are typically wrong.

I usually don't read much into put/call ratios before 11:00AM due to the low volume, but Justa pointed out a few years ago how the early AM put/call can be a prelude to pullbacks. I believe Chainik also uses that for positioning.