Comment on Open Interest, MaxPain & Put Call Ratio(PCR)

Hii nitin
i have some doubt regarding PCR..plz clarify .I have gone through some sites but they have diff view about PCR. some say if PCR r more than 1 means bullish sentiment in market becoz more puts r traded than calls in option thats mean more traders writing puts instead of calls and some says that if PCR more than 1 that means more puts r traded than calls and this means more traders are betting against the underlying and hence the general outlooks is bearish.

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