What are Total Puts? Total Puts are the sum of all put options in the underlying stock. Why do Total Puts matter? By monitoring the change in total put options you can estimate investor behavior. A larger put position infers more bearish activity. How to use Total Puts If you notice traders building a larger put position over time, you may seek to gain short exposure to that stock. Related articles What is Call Gamma? What is Put Gamma? What are Total Calls? What is Call Delta? What is Variance?