The Kobeissi Letter(@KobeissiLetter):BREAKING: The CBOE total put-to-call ratio is down to 0.78 on a 10-day moving average basis, the lowest since May 2025. This is also the 3rd-lowest level since November 2021. The ratio is down -0.23 points from the early-April high of 1.01 as the market has experienced a historic run. Furthermore, the equity put-to-call ratio is down to 0.60 on a 10-day moving average basis, the lowest since November 2021. This is down -0.30 points since the first week of April. Puts are under serious pressure.

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The Kobeissi Letter@KobeissiLetter

2026.05.15 17:08

BREAKING: The CBOE total put-to-call ratio is down to 0.78 on a 10-day moving average basis, the lowest since May 2025. This is also the 3rd-lowest level since November 2021. The ratio is down -0.23 points from the early-April high of 1.01 as the market has experienced a historic run. Furthermore, the equity put-to-call ratio is down to 0.60 on a 10-day moving average basis, the lowest since November 2021. This is down -0.30 points since the first week of April. Puts are under serious pressure.