Put/call has shifted from calls (.30 reading) all the way to puts (1.2 reading).
Meanwhile VIX, which was UP earlier, is now DOWN to 35.
This action implies there are players "SELLING PUTS" to capture volatility premium. This, of course, is BEARISH. In fact it is extremely bearish.
There could be an issue whereby options expiration last Friday may have had an impact on this week's action, so I wont go out on a limb and declare a massive decline is coming... but I will alert you to this extremely negative situation that is setting up.
I attempted to sell 1198 in ESZ8, but it backed away to 1195 right away.
The DIA is now 108.85, so it has backed off a little after being 109.11 bid as I began typing.
Short DIA, 1 pt stop. 108.94 bid now.
Target, cover at end of the day or 1 pt profit, whichever comes first.
1:34PM
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