Too many bears

Standard put-call jumped from notable low at the end of July to relative high area, exceeded by only a couple of weeks this year.

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Equity only put-call even more glaring - at highs for 2017, only exceeded in last 12 months by election anxiety. 

AAII weekly survey out - bears at 38.2% 5th highest for the year, and bull-bear spread also at 5th lowest reading of 2017.