The put/call ratio can give investors an idea of where options traders think the markets are headed. Charles Schwab Director of Trader Education Joe Mazzola says that, with the CBOE Put/Call Equity Ratio above 1, there are "still a decent amount of hedgers out there," which tells him that even though there is some call buying "it doesn't look like it's overdone at this point to where it would be kind of screaming everybody's on the same side of the trade." https://finance.yahoo.com/video/put-cal