Market Pulse — Daily Market Risk Score

Last Updated: Jul 17, 2026 2:18 PM ET

Overview Components Breadth History Setups 🔒 Valuation 🔒 Options Income 🔒
Today's Read
Fear is loud: P/C 2.05 with VIX at 18.47 confirming stress against a sideways tape on normal volume. Similar readings resolved below the base rate — stay selective, favor dip-entries over chasing.
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Current Market Risk Level

🟡 ELEVATED RISK
48 / 100
🟢 LOW (0-40) 🟡 ELEVATED (40-60) 🟠 HIGH (60-75) 🔴 EXTREME (75-100)

Last Updated: Jul 17, 2026 2:18 PM ET

Component Breakdown

Put Activity (P/C Ratio) 20/30 🔴
20
Score based on 0-30 DTE (matches VIX timeframe)
└─ 0-30 DTE: 2.05 - Extreme fear - danger zone! SCORING
└─ 0-7 DTE: 1.85 - High fear - caution advised
└─ 0-45 DTE: 2.09 - Extreme fear - danger zone!
└─ ALL: 1.67 - High fear - caution advised
What happened last time: P/C at or above 2.05 occurred on 77 days in the past 14 months — SPY was higher 30 days later 47% of the time (avg +0.6%), vs a 57% base rate (avg +1.2%) for all days. Elevated hedging at this level has NOT been a contrarian buy signal — forward returns ran below the everyday base rate.
VIX Stress 5/15 🟢
5
└─ VIX Level: 18.47 - Normal volatility
Key Insight: VIX in the 18-25 range indicates moderate anxiety. Watch for directional resolution — if P/C ratio is also elevated, institutions may be hedging ahead of a move.
Market Breadth (20-Day Trendlines) 4/15 🟡
4
└─ Net Breadth: -4.8% — Neutral
└─ ↑ 6,499 (47.6%) ↓ 7,147 (52.4%)
Key Insight: Neutral breadth — stocks evenly split. Indecisive tape, often precedes a directional move.

Market Breadth Trend

SPY Price & Volume Context

Market Regime: Sideways

Interpretation: Choppy market with elevated hedging

  • SPY 5D Change: -1.49%
  • SPY 20D Change: -0.42%
  • 30D Drawdown: -1.50%
Volume Confirmation: NORMAL
  • Volume Ratio: 0.74x avg
  • Today's Volume: 39,328,272
  • 20D Avg Volume: 53,432,280
📊 Normal volume = typical market activity
✅ No Active Alerts

Market risk levels are within normal ranges. Continue monitoring for changes in put activity and VIX stress levels.

Live Trendline Breadth (Intraday)

Mildly Bearish
-7.6% Net Breadth
Uptrend: 6,309 (46.2%) Downtrend: 7,338 (53.8%)
46.2%
53.8%
13,647 stocks analyzed

Historical Risk Score (Last 90 Days)

Detailed Metrics

Timeframe P/C Ratio Put OI Call OI Signal
0-7 DTE 1.85 1,579,375 1,099,967 High fear - caution advised
0-30 DTE 2.05 2,267,895 1,572,564 Extreme fear - danger zone! (SCORING)
0-45 DTE 2.09 3,012,719 2,125,991 Extreme fear - danger zone!
ALL (incl. LEAPS) 1.67 7,084,082 5,411,351 High fear - caution advised

Note: 0-30 DTE is used for scoring because it matches the VIX's 30-day implied volatility timeframe. Different timeframes show different market positioning strategies (short-term vs long-term hedging).

Current VIX: 18.47 Normal volatility
Score: 5/15 points
Why This Matters: VIX measures 30-day implied volatility. When VIX is low but P/C ratio is high, it suggests smart money is buying protection before the market recognizes the risk. This divergence is often an early warning signal of impending volatility.

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