Total Options Put/Call: The Whole Market's Daily Volume
The put/call ratio most sites quote covers one exchange group. This one covers everything — every listed US option on every exchange, straight from the clearing house that settles them all. Daily put and call contract totals, the market-wide ratio, and the customer-only ratio that strips out mechanical market-maker hedging. Compare it with the CBOE ratios and the SPY-only view.
Latest session
On August 5, 2026, 32.5M puts and 42.5M calls cleared across all US options exchanges — a total put/call volume ratio of 0.76 (prior session 0.63), the 61th percentile of our record. Customer accounts alone ran 0.74. Figures are cleared contract totals from the Options Clearing Corporation, which clears every US options exchange.
Sources, methodology & freshnessLast updated 2026-08-06 · Open ↓Close ↑
Balanced flow — 61th percentile of our record. Puts traded ÷ calls traded, every US options exchange, cleared by OCC.
Market-wide, calls usually outnumber puts (ratio below 1.0) — single-stock call speculation dominates. Judge readings against this page's own history, not SPY's put-heavy scale.
Total call volume
Every call contract cleared across all US options exchanges, in millions per session, with SPY above. Call volume expands with speculative appetite — the record sessions cluster in rallies and squeezes.
Total put volume
Every put contract cleared, in millions per session. Put volume spikes are hedging scrambles — they cluster in selloffs, and the biggest ones have marked capitulation days.
Total market put/call ratio
Every session's puts ÷ calls across the whole market, with the 10-session average as the readable line and SPY above for context. Spikes mark market-wide hedging scrambles; the low readings mark call-chasing speculation.
Customer-only put/call ratio
The same ratio computed from customer accounts only — no firm, no market-maker volume. Dealers trade mechanically as hedges; this line is the closest thing cleared data offers to genuine directional opinion.
The last 10 sessions
| Session | Puts | Calls | Total P/C | Customer P/C |
|---|---|---|---|---|
| 2026-08-05 | 32.5M | 42.5M | 0.76 | 0.74 |
| 2026-08-04 | 32.4M | 51.5M | 0.63 | 0.61 |
| 2026-08-03 | 32.3M | 45.6M | 0.71 | 0.68 |
| 2026-07-31 | 37.8M | 46.0M | 0.82 | 0.79 |
| 2026-07-30 | 32.3M | 38.9M | 0.83 | 0.79 |
| 2026-07-29 | 34.2M | 38.2M | 0.90 | 0.85 |
| 2026-07-28 | 29.1M | 34.7M | 0.84 | 0.81 |
| 2026-07-27 | 31.2M | 37.8M | 0.83 | 0.78 |
| 2026-07-24 | 35.6M | 40.5M | 0.88 | 0.83 |
| 2026-07-23 | 32.9M | 37.6M | 0.87 | 0.82 |
Contracts, all US exchanges, cleared by OCC (published T+1). Full dataset: total_putcall.json.
thetrading.tools PRO
Talk to this data with your AI
PRO is an MCP server that plugs Claude, ChatGPT, Cursor or any AI agent straight into everything on this site — the live market scores, ~90 economic indicators with full histories, and every signal study. Ask a market question; your AI answers from our data, dated and sourced.
Cancel anytime
How Total Options Put/Call Works
- 1Pull the whole market from the OCC after every closeThe Options Clearing Corporation clears every US options exchange, so its figures are the consolidated, authoritative count — not a single-exchange sample like the widely-quoted CBOE ratios. Each evening we fetch the day's cleared volume for every option symbol, split by puts vs calls and by account type (customer, firm, market maker).
- 2Convert sides to contractsOCC's account-type report counts both sides of every cleared contract — the buyer's and the seller's account each contribute. We halve the sums so our totals match OCC's published headline contract volume; ratios are unaffected either way, since both sides double equally.
- 3Compute the put/call ratio — total and customer-onlyTotal put volume ÷ call volume across all symbols is the broadest sentiment read the options market offers. We also compute the ratio from customer accounts alone, stripping out mechanical market-maker hedging — a cleaner view of what traders are actually choosing to do.
- 4Publish a dated, plain-English readingEvery update is stamped to the session it was cleared for (published T+1 by OCC). Ratio spikes mark market-wide fear; depressed readings mark complacency — both context, not timing signals.