option guru on cnbc just said market going 10-20% higher next 3-6 months because of high volume of put buyers.
Say what??! Put/Call Ratio is 0.45.... that's twice as many calls as puts. Market is as extended as it's been in 25 years based on # of stocks trading at least 2 standard deviations above their 200-day moving average. While the market may head higher, shorter term it's screaming overbought.
Wait, you lost me at CNBC..... I MUST be looking at my chart of the put call ratio wrong http://www.indexindicators.com/charts/sp500-vs-put-call-ratio-equity-20d-sma-params-3y-x-x/