Put Call Ratio

Put/Call ratio is a derivative indicator, it looks at option build-up, helping trader gauge whether a recent rise or fall in the markets is excessive and if the time is correct to make a contrarian call. It’s an indicator that’s best made use of during market extremes, traders try to identify periods where a reversal could occur in the markets.

https://www.indiainfoline.com/markets/derivatives/put-call-ratio