Put/call ratio ridiculously low

The p/c ratio is very low right now,
http://www.cboe.com/data/IntraDayVol.aspx

Perhaps its options expiration hangover, but the p/c equities ratio is at 0.465 as of now , that the lowest I have ever seen. This means there is too much bullishness for the "Santa Rally". usually when this is the case, then imo the rally never comes.
Lets see what happens.