Maybe it's a case of great minds thinking alike or perhaps it's mass hysteria, but it looks as though Jason Goepfert and I have tackled the same topic today: the very high put-call ratios. My recent post focused on equity-only ratios; Jason goes well beyond those data to look at who is buying and selling options and how that compares with historical norms. His special report on the topic is absolutely first rate. If you're not a subscriber, consider a free trial.
I'm not commercially affiliated with SentimenTrader; nor does Jason even know I'm posting this. But, hey, when I see a solid, original, and thoughtful piece of research on a topic relevant to traders *and* investors, it's worth a shout out.