This is stunning.
At the peak of speculative fervor in February, small traders bought to open 7.5 million call contracts.
This week, they bought 12.1 million.
Watch what people do, not what they say. They're full-bore bullish, on steroids. pic.twitter.com/T1v74xq1Of
— SentimenTrader (@sentimentrader) June 6, 2020
Before Covid hit, option call volumes by retail traders hit an astounding 7+ million contracts. It just blew up to 12.1 million contracts. With nearly every valuation metric on the S&P 500 at near record level highs, I’m really worried. I’m 46 y.o., and this is starting to really remind me of the heady tech bubble days.