I’m confused on the below.
Everywhere I read higher PCR is bearish and low is bullish.
As per my logic the call strike prices with more OI are resistance and vise versa.
So, higher PCR is bullish right?
If there are 1000 OI for PUT and 700 OI for call means the PCR is 1.4. ( more put is there and sellers money at stake, so it’s bullish and less likely to go down right?)
Please clarify. Thanks