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DISCLAIMER EXCEPT AS MAY BE PROVIDED UNDER SECTION 6(a), THE LICENSOR EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. The standard put-call ratio is simply the volume of all put options that traded on a given day divided by the volume of call options that traded on that day.
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