Equity Call Buying at Extremes Again

The equity only ISE sentiment index hit 276 today. This implies that retail traders are buying calls vs. puts at an almost 3:1 ratio!

To say that this is rare is an understatement. While we’ve only had this metric for a little over 4 years, out of 1070 data points, only 2 other days showed a bigger daily call binge: June 15th 2007 (280) and October 8th 2007 (279).