CBOE Still Showing High Levels of Call Buying

This reminds me of April 2010, when I was continually beating my drum about extremely exuberant investor sentiment. No one cared until the market crash on May 6.

The CBOE equity put/call ratio today was 0.53 (which is 1.87 calls for every put). This extended call buying streak is pushing the 20 day moving average close to 2 standard deviations below the mean.