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> High TIKI readings as often the signature of program trading, as are
> low readings-- e.g. > 20 or < 20.
>
> what does it mean, if anything, on days like today when there are many
> such readings. This seems to occur even if premium is not at an
> extreme.
>
> Does this have any predictive value or does it signal anything about
> institutional sentiment? Or is it just opportunistic arbitrage ?
I'm of the opinion that it signals institutional accumulation and
distribution -- especially during periods of congestion. This morning was a
good example of that. This afternoon's rally was likely a result of all of
that positive tiki action this morning.
Sean
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