For Trade Date 09.02.2021:

The total traded value in call warrants was: CHF 13’193’786
The number of call warrants active: 597
The total traded value in put warrants was: CHF 1’609’515
The number of put warrants active: 122
The put call ratio PCR was: 0.122

Date	Put Turnover	Call Turnover	Put Active	Call Active	Put Call Ratio
2021-01-12	1’549’189	17’385’891	107	573	8.91%
2021-01-13	970’693	12’758’368	110	558	7.61%
2021-01-14	1’051’230	13’993’214	128	583	7.51%
2021-01-18	2’243’010	9’840’312	88	495	22.79%
2021-01-19	2’328’039	14’405’166	111	581	16.16%
2021-01-20	2’289’368	16’777’795	145	639	13.65%
2021-01-21	1’339’771	13’483’849	134	597	9.94%
2021-01-22	2’103’525	12’434’476	144	571	16.92%
2021-01-25	2’292’426	17’271’200	191	852	13.27%
2021-01-26	1’281’287	17’399’476	130	754	7.36%
2021-01-27	3’886’506	20’385’358	204	845	19.07%
2021-01-28	7’394’886	20’510’861	289	876	36.05%
2021-01-29	4’246’672	19’759’002	183	789	21.49%
2021-02-01	1’990’816	14’384’043	164	641	13.84%
2021-02-02	1’954’346	17’312’990	183	721	11.29%
2021-02-03	2’336’153	14’890’760	172	699	15.69%
2021-02-04	2’261’201	14’912’259	157	679	15.16%
2021-02-05	1’864’369	11’161’810	156	692	16.70%
2021-02-08	1’316’203	14’363’418	132	679	9.16%
2021-02-09	1’609’516	13’193’786	122	597	12.20%
2021-02-10	1’836’672	13’027’832	151	672	14.10%

Background from the Corporate Finance website:

A PCR below one (<1) suggests that investors are purchasing more call options than put options and signals that investors are speculating a bullish trend going forward.

A PCR above one (>1) suggests that investors are purchasing more put options than call options and signals that investors are speculating a bearish trend going forward.

A PCR at one (=1) suggests that investors are purchasing the same amount of put options as call options and signals a neutral trend going forward.

No PCR is considered ideal, but a PCR  below 0.7 is typically viewed as a strong bullish sentiment while a PCR above 1 is typically viewed as a strong bearish sentiment.

It is important to note that the PCR is interpreted differently depending on the investor’s investment style. For example, consider two investment styles:

A contrarian investor may consider a PCR as a bullish signal while a low PCR as a bearish signal.

A momentum investor may consider a high PCR as a bearish signal while a low PCR as a bullish signal.

Therefore, the PCR depends on the investor’s investment style, and, as such, there is no one correct way to interpret the ratio.

Questions or feedback?

Feel free to write me at contact@zuberbuehler-associates.ch or add a comment.