diff --git a/strategies/put-call-ratio-highs-and-lows/README.md b/strategies/put-call-ratio-highs-and-lows/README.md
index 95a40f0..c695b64 100644
--- a/strategies/put-call-ratio-highs-and-lows/README.md
+++ b/strategies/put-call-ratio-highs-and-lows/README.md
@@ -6,4 +6,18 @@ As with most of the strategies from this book, they are meant to illustrate cert
 
 The strategies are based on the [Put / Call Ratio indicator](https://moshferatu.dev/moshferatu/ninjatrader/src/branch/main/indicators/put-call-ratio) which calculates the total put options volume divided by the total call options volume.
 
+## Rules
+
+### Put / Call Ratio Highs
+
+1. The asset (e.g., SPY) is above its 200-day moving average.
+2. If the Put / Call ratio closes at a 5-day high, enter a long trade.
+3. Exit the trade after 5 trading days (~1 week).
+
+### Put / Call Ratio Lows
+
+1. The asset (e.g., SPY) is above its 200-day moving average.
+2. If the Put / Call ratio closes at a 5-day low, enter a long trade.
+3. Exit the trade after 5 trading days (~1 week).
+
 ---
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