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The same equity ratio, computed with and without ETF options

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-22, from Equity vs Index Put/Call Ratio: What's High?.

as of series 23×4read in context →
The same equity ratio, computed with and without ETF options — 23 rows by 4 columns, computed from US exchange, SIP and OPRA data.
session_datesession_labelequity_ratio_etfs_excludedequity_ratio_etfs_included
2026-07-20Jul 200.571.08
2026-07-21Jul 210.540.98
2026-07-22Jul 220.50.95
2026-07-23Jul 230.631.02
2026-07-24Jul 240.681.09
2026-07-27Jul 270.621.07
2026-07-28Jul 280.690.97
2026-07-29Jul 290.661.22
2026-07-30Jul 300.580.92
2026-07-31Jul 310.541.14
2026-08-03Aug 30.531.01
2026-08-04Aug 40.450.78
2026-08-05Aug 50.540.92
2026-08-06Aug 60.520.81
2026-08-07Aug 70.560.85
2026-08-10Aug 100.510.9
2026-08-11Aug 110.60.86
2026-08-12Aug 120.550.94
2026-08-13Aug 130.510.84
2026-08-14Aug 140.590.92
2026-08-17Aug 170.530.97
2026-08-18Aug 180.581.02
2026-08-19Aug 190.440.81
Rows × columns
23 × 4
Period covered
to
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for The same equity ratio, computed with and without ETF options, derived from the stored result.
ColumnTypeRangeNotes
session_date date 2026-07-20 to 2026-08-19
session_label text 23 distinct values (Aug 10, Aug 11, Aug 12…)
equity_ratio_etfs_excluded number 0.44 to 0.69 ratio or rate
equity_ratio_etfs_included number 0.78 to 1.22 ratio or rate

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number 
SELECT
    toString(date)                 AS session_date,
    formatDateTime(date, '%b %e')  AS session_label,
    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS equity_ratio_etfs_excluded,
    round(sumIf(volume, startsWith(lower(option_type), 'p'))
          / sumIf(volume, startsWith(lower(option_type), 'c')), 2)                                                           AS equity_ratio_etfs_included
FROM global_markets.options_greeks
WHERE date >= (SELECT toDate(max(date))
               FROM global_markets.options_greeks
               WHERE volume > 0) - 30
  AND volume > 0
  AND underlying_symbol IN ('AAPL', 'MSFT', 'NVDA', 'AMZN', 'TSLA', 'JPM', 'KO', 'JNJ',
                            'SPY', 'QQQ', 'IWM', 'DIA')
GROUP BY date
HAVING sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0
ORDER BY date

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