The SPDR S&P 500 (ARCA:SPY) put-call ratio collapsed to 1.29 today, just a little above its bottom Bollinger Band.
SPY put volume fell by 15% on a modest increase in open interest. SPY call volume increased by 44%.
This kind of drop in the ratio would tend to be bearish for prices, although outside of opex week the effect isn’t always immediate.