NUKZ deserves its own paragraph. Extreme Put-Angst with PCR Z at +3.73, yet only 9% call flow. This is capitulation in its purest form. The crowd is betting nuclear stays under pressure, but the options market is literally pricing in that everyone already knows this. When extreme put buying happens at such lopsided flow levels, it typically means the move down has already occurred and we’re at the point where last buyers panic.
Even in SPY and QQQ, despite the bullish noise, the monthly level PCR Z tells a different story. SPY’s monthly PCR Z at +3.36 isn’t complacency—it’s fear. The crowd is buying puts, not calls, at longer timeframes. The daily bullish signal masks weekly and monthly put accumulation. Which timeframe has the real positioning?
The PCR Z-Score Contrarian Beacon
byu/Mark_deAburg inoptions
Posted by Mark_deAburg