The put/call option ratio of the Nasdaq 100 index has risen to 1.2

On February 26th, the put to call ratio of the Nasdaq 100 index rose to 1.2, the highest level since the bear market low in 2022, reflecting investors' increased hedging against technology stocks. This value exceeds the peak in April 2025 and other readings in the past 12 years (excluding 2022, when the ratio reached 2.3). The total put to call ratio of the S&P 500 index has risen to 0.9, the highest level since April 2025, consistent with the market correction of 3-5% in early 2024. In addition, the current trading volume of put options is denominated in US dollars, which is the second largest increase in nearly two years compared to call options trading volume, second only to the level before April 2025.