Well, you may want to see what is the average volume in these contracts (I presume very low), but you are right, the picture of the equity P/C ratio is quite bearish, my cash position at around 72% reflects that opinion. (cash got reduced with a buy of the bu$$ in AH (g).)
Bullishness is actually rampant here, considering that we breach 8250 on the Dow and the Naz is a solid 100 plus points below the last "to the Hills" call, it is quite surprising and indicates to me that more pain is due, but that is as expected.
Good post about the options and your thoughts in reference to it. Needless to say this guy is playing with the big boys. You know, Syl, Zeev and some of the others.
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