Still we keep a bearish bias until strength proves itself to us otherwise. First of all, there is no other seminar anywhere in the world like this one. In all honesty we even had a bit of cockiness about how much we knew versus information there. We humbly admit that false pride got slapped silly from the first day forward as we took prodigious notes and learned things never dreamed existed. That applies to trading in general.
Ratio listed is percentage of calls to puts or puts to calls respectively.
Support is factored from dividing puts by calls at strike levels beneath index closing price. Resistance is factored from dividing calls by puts at strike levels above current closing price. A reading above 10.00 is considered viable resistance or support respectively within that general strike price range. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs are not.