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Put to Call Ratio
A simple sentiment gauge comparing how much put volume is trading against call volume, and why extremes in either direction get watched closely.
What is the put to call ratio?
The put to call ratio is puts divided by calls for one ticker. On EZPZ, Intraday Put/Call Ratio is the session chart of that ratio in three clocks: Traded PCR or Volume PCR, Open Interest OI PCR, and Sentiment PCR. Search e.g. SPY, then Go. It is not a buy or sell.
On EZPZ, the live page title is Tri-Metric Put to Call Ratio. The eyebrow is Put / Call Ratio. The ticker line starts on SPY plus last price. The screenshot uses SPY at $761.69. The subline is Intraday put/call ratio across traded, open interest and sentiment. Placeholder is e.g. SPY. Go loads the name. Enter in that box also loads it. Tabs are Traded Put/Call Ratio, Intraday Put/Call Ratio, and Historical Put/Call Ratio. This page keeps Intraday Put/Call Ratio selected. The first card is Traded PCR. Traded PCR starts selected. Volume PCR is the other button. The legend is Traded PCR and Calculated SMA 5. When Volume PCR is on, that legend becomes Volume PCR and Calculated SMA 5. Open Interest OI PCR is the second card. Sentiment PCR is the third. Each of those lines also has Calculated SMA 5. A reading above 1 means more puts than calls on that clock. A reading below 1 means the opposite. None of those charts is a buy or sell.
On EZPZ, this page is the three session PCR charts for any ticker you search. Ticker Explorer keeps Volume PCR, OI PCR, and Sentiment PCR as gauges on a one-symbol dashboard, not these time series. Index Trader puts Volume Put/Call Ratio and OI Put/Call Ratio on index tables, not this SPY search. Money Sentiment is Bought Ratio, Net Sentiment, and Netflow Graph. Gamma Exposure is the searchable strike table with Call Wall and Put Wall. Market Maker Exposure is the SPX Flip Level chart with Call Wall, Put Wall, and Expected Move(VEM) and DEM. Market Cross Flow is the SPY, SPXW, and QQQ GEX grid next to candles. Greeks Heatmap is the strike-by-expiration grid with Gravity Magnet Score. Option Depth Flow is the searchable strike-by-time Bubble or Gradient chart. Largest Premium By Tickers is the Bullish Flow / Bearish Flow premium leaderboard when you do not have a ticker yet. Top 20 Optionable ranks listed-option names by Vol. * Price. Market Wave is the Current Day chart of Net Call Premium versus Net Put Premium. Net Flow Graph is one ticker you search with Filter ticker, plus Cumulative Volume Delta. Historical Net Premium is the 15D Cumulative lookback with a daily table. 0DTE Graph is the same-day premium chart with Filter ticker. The 0DTE dropdown is the lock. Weekly-DTE Graph is the WTE chart of premium that expires by Friday. 7-DTE Graph is the 7DTE chart of premium in the next 7 days. Supply and Demand X-ray is the ITM Call and Put chart of Price, Supply, and Demand. Net Premium Heatmap is the strike-by-expiration grid of Net Premium for one ticker. Movers and Shakers Tide is that same chart job for about 18 mega-cap names. Option Chain is the listed book for one ticker. Live Flow is the tape of prints. Unusual Activity keeps only large, sweep, and block prints. Unusual Activity Intraday is the session scan with a date range. $1M Plus Flow keeps only million-dollar premium. 0DTE Flow keeps only prints that expire today. SPX and SPY Flow locks the tape to SPX, SPXW, and SPY. GEX Heatmap is the strike-by-expiration GEX grid with a GEX Details table. GEX and DEX is the Intraday GEX and DEX chart pair with Gamma Flip. Spot Gamma and Delta is the ($) Open Interest versus ($) Volume bar pair with a Spot line. Expected Move is the DEM and VEM band chart by expiration. Max Pain is Intraday Max Pain with O-Max Pain, P-Max Pain, and V-Max Pain. Open Interest Scan is the OI per Strike and OI per Expiration chart pair. Volume Scan is the Volume by Strike and Volume by Expiration chart pair. Volatility Analysis is Volatility By Open Interest, Open Interest, and Implied Volatility Smile for one ticker. IV Rank Explorer is Current IV (30D), IV Rank (1Y), period IV Rank, and IV Percentile (1Y) plus the IV Rank chart. Historical Volatility is 10D through 90D Volatility versus Price. Volatility Surface 3D is Raw Contracts and Smoothed Mesh for one ticker.
How Put to Call Ratio works on EZPZ
Search a ticker, leave Intraday Put/Call Ratio selected, then read Traded PCR against Calculated SMA 5. It is not a score. Most people start with Traded PCR. If that line looks loud, switch to Volume PCR on the same card. Then scroll to Open Interest OI PCR and Sentiment PCR. If those three clocks disagree, stay with the session charts. Do not treat SPY as a default thesis.
How this differs from Ticker Explorer
Ticker Explorer is a one-symbol dashboard. Volume PCR, OI PCR, and Sentiment PCR sit there as gauges under Put/Call Ratio, next to quote, GEX charts, and unusual activity. This page is the dedicated session chart. There is no Stock Data card and no unusual activity table. Use Ticker Explorer when you want those gauges beside everything else for the same ticker. Use this page when you want Traded PCR or Volume PCR through the session, then OI PCR and Sentiment PCR. Use Index Trader when you want Volume Put/Call Ratio on SPX, QQQ, and SPY tables. Use Money Sentiment when you want Bought Ratio and Net Sentiment. Use Gamma Exposure when you want Call Wall and Put Wall. Use Market Maker Exposure when you want SPX Flip Level. Use Market Cross Flow when you want SPY, SPXW, and QQQ side by side. Use Greeks Heatmap when you want Gravity Magnet Score. Use Option Depth Flow when you want strike by time. Use GEX Heatmap when you want pinning versus volatility cells. Use GEX and DEX when you want Gamma Flip. Use Spot Gamma and Delta when you want ($) Open Interest versus ($) Volume. Use Expected Move when you want DEM versus VEM by expiration. Use Largest Premium By Tickers when you still need a name from Bullish Flow or Bearish Flow. Use Top 20 Optionable when you want Vol. * Price rank. Use Market Wave when you want Current Day Net Call Premium versus Net Put Premium. Use Net Flow Graph when you want Filter ticker plus Cumulative Volume Delta. Use Historical Net Premium when you want the 15D table. Use 0DTE Graph when you want same-day premium. Use Weekly-DTE Graph when you want Friday. Use 7-DTE Graph when you want the next 7 days. Use Supply and Demand X-ray when you want Price, Supply, and Demand. Use Net Premium Heatmap when you want the strike-by-expiration grid. Use Movers and Shakers Tide when you want the 18-name basket. Use Live Flow when you want the prints.
Anatomy of the three PCR charts
You do not need every clock on every session. Use the tabs if you want a map of the fields.
The first card label is Traded PCR. The toggle sits on the right of that bar.
| On the page | What you are looking at |
|---|---|
| Traded PCR | The default series on the first chart. Puts versus calls from traded prints through the session. |
| Volume PCR | The other button on that same card. Puts versus calls from session volume instead of traded prints. |
| Calculated SMA 5 | The overlay on the first chart. It sits next to Traded PCR or Volume PCR in the legend. |
The second card label is Open Interest OI PCR.
| On the chart | What you are looking at |
|---|---|
| OI PCR | Puts versus calls from open interest through the session. |
| Calculated SMA 5 | The overlay on this card. Same label as the first chart. |
The third card label is Sentiment PCR.
| On the chart | What you are looking at |
|---|---|
| Sentiment PCR | The Sentiment PCR series through the session. |
| Calculated SMA 5 | The overlay on this card. Same label as Traded PCR and OI PCR. |
Header and tabs
- Search / Go: Type a ticker. Placeholder is e.g. SPY. Go loads the name. Enter also loads it.
- Traded Put/Call Ratio: The first tab. Leaves this Intraday page.
- Intraday Put/Call Ratio: The selected tab on this page.
- Historical Put/Call Ratio: The third tab. Leaves this Intraday page.
Controls on this page
The header has search and Go. The row under that has the three product tabs. Traded PCR and Volume PCR sit on the first chart. Use those controls to change the clock. Do not treat them as a score.
- Search / Go: Load another name. Placeholder is e.g. SPY.
- Intraday Put/Call Ratio: Stays selected on this page.
- Traded PCR / Volume PCR: Switches the first chart series.
How people actually use it
Read Traded PCR, then SMA 5
Check the ticker line. Leave Traded PCR selected. Then compare that line with Calculated SMA 5 on the first card.
Switch to Volume PCR if you want volume
Volume PCR is the other button on the same card. OI PCR and Sentiment PCR stay below either way.
Compare the three clocks
If Traded PCR sits near 1 while OI PCR sits far above 1, you are looking at two clocks. Session trades are not the same as open interest.
Use it next to gauges and the tape
This page is the session chart. Open Ticker Explorer if you want the gauges. Open Live Flow if a spike makes you want the prints.