PCR (Put/Call Ratio) is the ratio of put to call open interest. It’s a sentiment gauge: it shows where the balance currently leans — toward protective (put) or bullish (call) positioning.
How to read it. Watch the day-to-day change more than the absolute value. A rising PCR means participants are building protection; a falling one means the balance is shifting toward calls. OLIMP shows the current value and its trend in the panel.
PCR is background context, not a command to act. It complements Max Pain and walls well, helping you sense the overall tilt of sentiment.