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The index put-to-call ratio has dropped to 0.76, the second-lowest level since March 2020.

Furthermore, the ratio’s 10-day moving average fell to 0.96, the lowest since August 2019.

Them overall total put-to-call ratio is also down to 0.72, the third-lowest since November 2021.

As a result, its 10-day moving average hit 0.78, a 39-month low.

Even as the market has seen an increase in volatility, demand for puts is historically low.

Bullish sentiment is through the roof.
(@TheKobeissiLetter)



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The index put-to-call ratio has dropped to 0.76, the second-lowest level since March 2020.

Furthermore, the ratio’s 10-day moving average fell to 0.96, the lowest since August 2019.

Them overall total put-to-call ratio is also down to 0.72, the third-lowest since November 2021.

As a result, its 10-day moving average hit 0.78, a 39-month low.

Even as the market has seen an increase in volatility, demand for puts is historically low.

Bullish sentiment is through the roof.
(@TheKobeissiLetter)

BY The Kobeissi Letter




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The channel appears to be part of the broader information war that has developed following Russia's invasion of Ukraine. The Kremlin has paid Russian TikTok influencers to push propaganda, according to a Vice News investigation, while ProPublica found that fake Russian fact check videos had been viewed over a million times on Telegram. Telegram, which does little policing of its content, has also became a hub for Russian propaganda and misinformation. Many pro-Kremlin channels have become popular, alongside accounts of journalists and other independent observers. Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. Russians and Ukrainians are both prolific users of Telegram. They rely on the app for channels that act as newsfeeds, group chats (both public and private), and one-to-one communication. Since the Russian invasion of Ukraine, Telegram has remained an important lifeline for both Russians and Ukrainians, as a way of staying aware of the latest news and keeping in touch with loved ones.
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