Put Call Ratio Calculator
put-call ratio calculator. Get instant, accurate results. Enter values for instant results with step-by-step formulas.
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer
Put Call Ratio Calculator
Calculator
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Formula: PCR (Volume) = Put Volume / Call Volume | PCR (OI) = Put OI / Call OI
Worked example — PCR 1.25 — Bearish sentiment
Formula
PCR (Volume) = Put Volume / Call Volume | PCR (OI) = Put OI / Call OI
Put-Call Ratio measures market sentiment. PCR > 1 = bearish sentiment (more puts), PCR < 1 = bullish sentiment (more calls). Contrarian view: extremely high PCR (>1.2) may signal a bottom; extremely low PCR (<0.7) may signal a top.
Worked Examples
Example 1: Market analysis
Problem:Put Vol: 500K, Call Vol: 400K, Put OI: 2M, Call OI: 1.8M
Solution:PCR Vol = 500K/400K = 1.25. PCR OI = 2M/1.8M = 1.11
Result:PCR 1.25 — Bearish sentiment
Frequently Asked Questions
What is a good put-call ratio?
Typically, PCR between 0.7-1.0 is considered normal. Above 1.0 indicates bearish sentiment. Below 0.7 is bullish. As a contrarian indicator, extreme readings often precede reversals.
How do traders use put-call ratio as a contrarian indicator?
Contrarian traders treat extreme PCR readings as signals of market over-extension. When PCR rises above 1.2–1.5, fear is dominating and the majority are buying puts — historically a buying opportunity, not a time to sell. Conversely, a PCR below 0.5 suggests excessive complacency and heavy call buying, which often precedes corrections. Contrarian signals work best when confirmed by price action or other technical indicators.
Does put-call ratio work the same way for individual stocks and broad market indices?
No — index options (like SPX or VIX-linked products) are heavily used for portfolio hedging by institutional investors, so their PCR tends to run higher (often 1.0–2.0) than individual stock PCRs (typically 0.5–1.0). Comparing an individual stock's PCR to index benchmarks can give misleading signals. Always compare a symbol's PCR against its own historical range rather than a fixed universal threshold for accurate sentiment analysis.
What is margin and how is a margin call triggered?
Margin is the deposit required to open and maintain a leveraged position. A margin call occurs when your account equity drops below the required maintenance margin, usually 50-100% of used margin. Brokers may automatically close positions to prevent further losses.
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer · Editorial policy
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