put open interest divided by call open interest.
Put/Call Ratio is put open interest divided by call open interest.
puts are downside bets, calls are upside bets, over 1.0 means the options crowd is hedging or bearish.
options flow is smart money's footprint: they hedge before they run.
The desk watches this alongside the nine Pulse Score signals when reading a coin. See Methodology for how the score fuses its inputs.
a 0-100 momentum gauge
Next explainera momentum-direction indicator built from two moving averages
Explainer generated Sep 24, 2026 from the desk glossary. Not financial advice.