Does this make any sense?
One of the most reliable indicators of future market direction is a contrarian-sentiment measure known as the put/call options volume ratio. By tracking the daily and weekly volume of puts and calls in the U.S. stock market, we can gauge the feelings of traders. While a volume of too many put buyers usually signals that a market bottom is nearby, too many call buyers typically indicates a market top is in the making. http://www.investopedia.com/articles/optioninvestor/02/052102.asp
I read the artical, just like the many other articals i have read from the no it all traders always lead you to the lossing side, think about it, does it make sense to you if traders are buying a lot more puts then they are buying calls that that is a signal that the market sentiment is to the upside. I have been reading and following advice from theses so called no it all traders and i always seem to lose, i have just started using common sense, when traders are buying more puts then calls by such a large amount that is a signal for a down trend.
More likely there a lot of folks like me, hedging gains made from $20 or below. Pretty easy to surrender a buck or two a share to eliminate downside risk, while staying long with unlimited upside potential.