"One Retail proxy that stands out to the upside is TSLA +9% and making up 32% of the NDX gains following the Robotaxi launch which was expected... TSLA volumes are elevated (tracking +100% vs. 20d), options (already 1.2mn calls on tape), and levered ETF space (TSLL volumes tracking +111% vs. 20d) ... all pointing to an aggressive Retail beta chase"