|Simple Trading Ideas||
The CBOE Options Total Put/Call Ratio confirms the recent advance of the overall market. Investors are buying less puts as they believe that the market could move even higher. The daily chart below shows $CPC with a couple of moving averages. The 10-day SMA sharply turned down and is moving lower. The correlation coefficient between $CPC and $SPX the S&P 500 index is back to normal which is negative.