The equity put-to-call ratio has declined sharply, reaching its lowest level since December 2010, with the total ratio falling to 0.55. This decline represents a halving over the past month amid one of the sharpest market recoveries in history. The S&P 500 has risen approximately 22% since its April 7 low and was up 0.2% as of mid-May 2025. The CBOE Equity Put/Call ratio dropped to 0.41 after previously climbing above 1.01, a movement that historically signals heightened market optimism. Last week, the equity put/call ratio fell to one of the lowest points in the past four years, indicating a bullish sentiment among investors. Specific put/call ratios for several stocks were highlighted, including MBOT at 40/5,423, APLD at 20,000/38,000, LYFT at 16,000/31,000, and CMG at 6,694/22,000, reflecting a dominance of call options over puts.