[isatrader]

Attached is the updated S&P 500 / Index and Equity Options Ratio charts which I haven't posted for a while. The Index Options which are more associated with professional traders has been consolidating over the last few months, while the Equity Options which are more associated with retail traders has continued higher.

My observations of the charts is that big moves usually happen when the Index Options are on the same page as the Equity Options, and seem to have more weighting over the market moves than the the Equity Options as you'd expect as professional traders have significantly more money in the market. So although the combined chart ($SPX:$CPC) is still moving higher the professional traders seem to be indicating a neutral stance on direction at this point imo.