{"slug":"equity-vs-index-put-call-ratio","qid":"etf_bucketing","label":"The same equity ratio, computed with and without ETF options","post_title":"Equity vs Index Put/Call Ratio: What's High?","post_url":"/blog/equity-vs-index-put-call-ratio#q-etf_bucketing","columns":["session_date","session_label","equity_ratio_etfs_excluded","equity_ratio_etfs_included"],"rows":[{"session_date":"2026-07-20","session_label":"Jul 20","equity_ratio_etfs_excluded":0.57,"equity_ratio_etfs_included":1.08},{"session_date":"2026-07-21","session_label":"Jul 21","equity_ratio_etfs_excluded":0.54,"equity_ratio_etfs_included":0.98},{"session_date":"2026-07-22","session_label":"Jul 22","equity_ratio_etfs_excluded":0.5,"equity_ratio_etfs_included":0.95},{"session_date":"2026-07-23","session_label":"Jul 23","equity_ratio_etfs_excluded":0.63,"equity_ratio_etfs_included":1.02},{"session_date":"2026-07-24","session_label":"Jul 24","equity_ratio_etfs_excluded":0.68,"equity_ratio_etfs_included":1.09},{"session_date":"2026-07-27","session_label":"Jul 27","equity_ratio_etfs_excluded":0.62,"equity_ratio_etfs_included":1.07},{"session_date":"2026-07-28","session_label":"Jul 28","equity_ratio_etfs_excluded":0.69,"equity_ratio_etfs_included":0.97},{"session_date":"2026-07-29","session_label":"Jul 29","equity_ratio_etfs_excluded":0.66,"equity_ratio_etfs_included":1.22},{"session_date":"2026-07-30","session_label":"Jul 30","equity_ratio_etfs_excluded":0.58,"equity_ratio_etfs_included":0.92},{"session_date":"2026-07-31","session_label":"Jul 31","equity_ratio_etfs_excluded":0.54,"equity_ratio_etfs_included":1.14},{"session_date":"2026-08-03","session_label":"Aug 3","equity_ratio_etfs_excluded":0.53,"equity_ratio_etfs_included":1.01},{"session_date":"2026-08-04","session_label":"Aug 4","equity_ratio_etfs_excluded":0.45,"equity_ratio_etfs_included":0.78},{"session_date":"2026-08-05","session_label":"Aug 5","equity_ratio_etfs_excluded":0.54,"equity_ratio_etfs_included":0.92},{"session_date":"2026-08-06","session_label":"Aug 6","equity_ratio_etfs_excluded":0.52,"equity_ratio_etfs_included":0.81},{"session_date":"2026-08-07","session_label":"Aug 7","equity_ratio_etfs_excluded":0.56,"equity_ratio_etfs_included":0.85},{"session_date":"2026-08-10","session_label":"Aug 10","equity_ratio_etfs_excluded":0.51,"equity_ratio_etfs_included":0.9},{"session_date":"2026-08-11","session_label":"Aug 11","equity_ratio_etfs_excluded":0.6,"equity_ratio_etfs_included":0.86},{"session_date":"2026-08-12","session_label":"Aug 12","equity_ratio_etfs_excluded":0.55,"equity_ratio_etfs_included":0.94},{"session_date":"2026-08-13","session_label":"Aug 13","equity_ratio_etfs_excluded":0.51,"equity_ratio_etfs_included":0.84},{"session_date":"2026-08-14","session_label":"Aug 14","equity_ratio_etfs_excluded":0.59,"equity_ratio_etfs_included":0.92},{"session_date":"2026-08-17","session_label":"Aug 17","equity_ratio_etfs_excluded":0.53,"equity_ratio_etfs_included":0.97},{"session_date":"2026-08-18","session_label":"Aug 18","equity_ratio_etfs_excluded":0.58,"equity_ratio_etfs_included":1.02},{"session_date":"2026-08-19","session_label":"Aug 19","equity_ratio_etfs_excluded":0.44,"equity_ratio_etfs_included":0.81}],"shape":"series","sql":"SELECT\n    toString(date)                 AS session_date,\n    formatDateTime(date, '%b %e')  AS session_label,\n    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA'))\n          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS equity_ratio_etfs_excluded,\n    round(sumIf(volume, startsWith(lower(option_type), 'p'))\n          / sumIf(volume, startsWith(lower(option_type), 'c')), 2)                                                           AS equity_ratio_etfs_included\nFROM global_markets.options_greeks\nWHERE date >= (SELECT toDate(max(date))\n               FROM global_markets.options_greeks\n               WHERE volume > 0) - 30\n  AND volume > 0\n  AND underlying_symbol IN ('AAPL', 'MSFT', 'NVDA', 'AMZN', 'TSLA', 'JPM', 'KO', 'JNJ',\n                            'SPY', 'QQQ', 'IWM', 'DIA')\nGROUP BY date\nHAVING sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0\nORDER BY date","computed_at":"2026-08-22T04:05:28.801026+00:00","elapsed":10.068178667}