Nasdaq 100 Put-to-Call Ratio Hits 1.2, Highest Since 2022 Bear Market
The options indicator surpasses its April 2025 level and marks a 12-year high outside of 2022, suggesting heightened caution among equity investors.
Fact Check
The statement asserts that the Nasdaq-100 options put-to-call ratio reached 1.2, the highest level since the 2022 bear market. The only sources with direct and authoritative data for verifying such a claim are those from CME Group, which provide the official metrics for Nasdaq-100 futures and options. These pages list real-time market data, volume, and open interest, and offer downloadable daily options reports that would reveal put and call volumes used to calculate the ratio. However, none of the described sources explicitly confirm a recent reading of 1.2 or contextualize it as the highest since 2022. While the sources are highly credible and relevant, the summary information reviewed does not include an explicit record confirming the ratio's numerical value or historical comparison. Therefore, although the claim could plausibly be true given recent market volatility, there is insufficient verifiable evidence from the primary sources provided to confirm it with high confidence.
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Summary
The Nasdaq 100's put-to-call ratio has climbed to 1.2, the highest reading since the 2022 bear market low when the ratio peaked at 2.3. This level surpasses the April 2025 spike and all other readings in the past 12 years, excluding 2022, indicating an increase in bearish options positioning by investors. The data reflects growing market caution toward major U.S. tech stocks, which dominate the Nasdaq 100, often seen as a proxy for risk appetite in equities. The S&P 500’s total put-to-call ratio was also referenced but not specified in detail.
Terms & Concepts
- Put-to-Call Ratio: A measure comparing the volume of put options (bets on price declines) to call options (bets on price increases), often used to gauge market sentiment.
- Nasdaq 100: An index comprising 100 of the largest non-financial companies listed on the Nasdaq stock exchange, heavily weighted toward technology stocks.
- Bear Market: A market condition marked by a sustained decline of 20% or more from recent highs, typically reflecting negative investor sentiment.