{"id":"vol-skew","category":"volatility","title":"Options Skew Signal","summary":"Put vs call skew reveals directional sentiment and hedging pressure.","trigger":{"always":false,"sectors":[],"tickers":[],"regimes":[]},"ttl_hours":168,"content":{"put_skew":{"definition":"OTM puts more expensive than OTM calls (normal state) — reflects hedging demand","strategy":"Sell put spreads (more premium in puts). Bullish bias."},"flat_skew":{"definition":"Balanced put and call pricing — neutral sentiment","strategy":"Iron condors work well. No strong directional edge from skew."},"call_skew":{"definition":"OTM calls more expensive than puts — unusual; often precedes short squeeze","strategy":"Bullish directional debit spreads. Sell OTM call spreads at extreme call skew."},"practical_use":"Compare 25-delta put IV vs 25-delta call IV. If puts cost significantly more, sentiment is bearish — use as contrarian indicator when extreme.","verdict":"Extreme put skew (OTM puts >10 vol points above calls) is a contrarian buy signal — too many people hedging usually means the move has already happened. Flat or call skew in a bull market = complacency warning."}}