# Put/call ratio by ticker > Put contract volume divided by call contract volume for each ticker CaymanBot publishes, computed from the option trades in CaymanBot's feed for one completed session. Data is delayed at least 48 hours and describes that session only. - Canonical page: [https://caymanbot.com/put-call-ratio](https://caymanbot.com/put-call-ratio) - Content type: tool - Last reviewed: 2026-10-07 - Publisher: CaymanBot, LLC ## Quick answer Put contract volume divided by call contract volume for each ticker CaymanBot publishes, computed from the option trades in CaymanBot's feed for one completed session. Data is delayed at least 48 hours and describes that session only. ## Key points - **Every published ticker:** Put volume, call volume and the ratio for SPY, QQQ, NVDA, AAPL, TSLA, AMD, AMZN, META, MSFT and PLTR in one table. - **The formula, shown:** Ratio = put contract volume ÷ call contract volume, rounded to two decimals. A session with no call volume shows n/a. - **Context, not a forecast:** The ratio describes what traded in one session. It does not show who bought or sold, or what happens next. ## What the put/call ratio measures The put/call volume ratio divides the number of put contracts traded by the number of call contracts traded in one session. For example, 1,200 put contracts and 800 call contracts give 1,200 ÷ 800 = 1.50. A value above 1.00 means more puts than calls traded, and a value below 1.00 means more calls than puts traded. The table above is computed from the option trades in CaymanBot's feed for each ticker, across all strikes and expirations, for one completed session delayed at least 48 hours. It is not an official exchange or OCC volume total, so it can differ from ratios that exchanges or other data providers publish. - Above 1.00: more put contracts than call contracts traded. - Below 1.00: more call contracts than put contracts traded. - 1.00: equal put and call volume. - n/a: no call volume was recorded for the session, so the ratio is undefined. ## How to read high and low readings A high reading means put volume was large relative to call volume in that session. Traders use puts to hedge stock and portfolio exposure, to sell premium and to close earlier positions, so a high reading does not show that anyone expected a decline. A low reading means call volume outweighed put volume, which can come from call buying, call selling, covered call writing or closing trades. Read the ratio as context, not as a forecast. Compare a ticker with its own recent readings and with other tickers, then look at which strikes and expirations traded before drawing any conclusion. Index ETFs such as SPY and QQQ are widely used for portfolio hedging, so their usual range can differ from a single stock's. ## Volume ratio versus open-interest ratio A volume ratio counts contracts traded during one session. An open-interest ratio divides put open interest by call open interest, which counts contracts still open after the prior clearing cycle. The volume ratio reflects one session of trading, while the open-interest ratio changes only as positions are opened or closed, so the two can move in different directions. Each ticker page, such as [SPY](/spy) or [QQQ](/qqq), shows both the put/call volume ratio and the put/call open-interest ratio. For the difference between the two measures, see [options volume vs open interest](/options-volume-vs-open-interest). For strikes, premium and gamma exposure by ticker, see [options volume by ticker](/options-volume). ## Primary sources - [Options Price Reporting Authority: consolidated options market data](https://www.opraplan.com/) - [Options Industry Council: open interest and how it differs from volume](https://www.optionseducation.org/news/open-interest-why-it-matters) - [OCC: Characteristics and Risks of Standardized Options](https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document) ## Frequently asked questions ### What is the put/call ratio? It is put contract volume divided by call contract volume for one session. With 1,200 puts and 800 calls traded, the ratio is 1,200 ÷ 800 = 1.50. Above 1.00 means more puts than calls traded. ### What is the SPY put/call ratio? The table on this page shows SPY put volume, call volume and their ratio for the session shown, computed from the option trades in CaymanBot's feed and delayed at least 48 hours. The SPY page shows the same ratio next to active strikes and gamma exposure. ### Is a high put/call ratio bearish? Not by itself. Puts are bought as hedges, sold for premium and traded to close positions, so a high ratio shows that put volume outweighed call volume, not that traders expected a decline. Treat it as context for one session and not as a forecast. ### How current is this put/call ratio? Each figure covers one completed session and is delayed at least 48 hours. The snapshot is published once a day, and the session date is shown above the table. ### Why does a ticker show n/a? The ratio is n/a when no call volume was recorded for the ticker in the session shown, because dividing by zero is undefined. Every figure in a row is n/a when the snapshot has no published session for that ticker. ### What trades does this put/call ratio cover? The option trades in CaymanBot's feed for each ticker, across all strikes and expirations, for the session shown. It is not an official exchange or OCC volume total, so ratios that exchanges or other data providers publish can differ. ### How is a put/call volume ratio different from an open-interest ratio? A volume ratio counts contracts traded in one session. An open-interest ratio counts contracts still open after the prior clearing cycle. They answer different questions and can move in different directions. ## Related CaymanBot resources - [Options volume by ticker](https://caymanbot.com/options-volume) - [Options volume vs open interest](https://caymanbot.com/options-volume-vs-open-interest) - [SPY options volume, flow and gamma exposure](https://caymanbot.com/spy) - [QQQ options volume, flow and gamma exposure](https://caymanbot.com/qqq) - [Options glossary: the tape, translated](https://caymanbot.com/glossary) Market data, modeled analytics, calculators and public-filing summaries are informational. Verify time-sensitive data and original filings before making decisions.