Investor Sentiment Check

There is a differing picture in the options market today.

The CBOE put/call ratio has been elevated all day, and is currently 1.02.

The ISEE has been flashing very bullish readings, and has been above 200 all day.

I am not sure what to make of the disparity. It is likely that the CBOE ratio is being skewed by index put buying, as funds reload on puts that expired last week.
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