I started my buying back my "tired" short calls for MAR under $0.20 and selling oddly enough new short PUTs for APR on tech and large caps and only selling APR CALLS on the financials since bad debts rarely go away without adding additional cash reserves which doesn't do squat for higher stock prices.
Long PUTs not sold today going to take a beating in this mini pre expiry rally.
Yes, but you can compare the morning P/C ratio and the afternoon (taking for instance half hourly intervals) and see how the call activity (don't call it buying if that disturb you) was taking over put activity. These kind of extreme are associated with topping not bottoming action. In bottoming action put activity often overtakes call activity.