Re: "the interpretation gets confusing when the options are both undervalued or one is undervalued and the other is overvalued"
Yes it does.
Let's take line 16. Calls are underpriced (red), Puts are overpriced (green).
If calls are underpriced, they are selling calls which is bearish. If puts are overpriced, they are buying puts which is bearish.
When you think of it in those terms, it is pretty clear. In this case I would guess it doesn't matter what columns O an P say since they confirm each other.
When both columns L and M (calls and puts) are the same color, that means both are overpriced or both are underpriced. Then you look to columns O and P to see which one is the most strongly oversold or overpriced.
Calls most strongly overpriced: bullish Calls most strongly underpriced: bearish Puts most strongly overpriced: bearish Puts most srtongly underpriced: bullish
I would like to make a suggestion as well. Would it be worth adding a column that describes the next days actual (bearish vs bullish)? Given commentary on decision support tools, perhaps some sort of comparision between prediction vs actual might help establish some credibilty IMHO...
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