The sentiment of betting on a rise in the US options market has significantly increased to reach its highest level this year - whether the risk market is rebounding or reversing The trading volume of call options has surged to a new high, while put options, although not low, have clearly weakened. This indicates that the trading focus of the market is now moving upwards, and many funds are using options to seek further upward elasticity. To put it simply, it's not the risk aversion that dominates now, but the pursuit of rising prices. Of course, the high trading volume of call options does not necessarily mean that the market is unilaterally bullish. Because there are those who actually buy up in trading volume, those who sell call options for profit, as well as those who close positions, switch positions, and make combinations. So at most, this chart can only illustrate that trading in the upward direction is very crowded, and the market is concentrating on continuing to rise. There are usually two possibilities behind this. One is that the market is really strengthening, and funds are willing to continue to increase leverage and elasticity to chase after it, especially if there are just positive news landing ahead, or macro, negotiation, policy factors that have made risk appetite return, then it is normal for call options to increase volume. Another possibility is that short-term sentiment has started to overheat. And after a clear rebound, it is likely that many people have started to worry about going short and chasing call options. This is when the price is most likely to continue to rise, but it is also the most fragile time. From a fundamental perspective, although it is now a "safe period" for the United States and Iran, the market's focus should still be on monetary policy. The current rise may be a short-term expectation ceasefire, reducing the probability of interest rate hikes and recession, thereby promoting the increase of option positions. Once the price does not continue to rise or the positive news falls short of expectations, this portion of the position will decay very quickly, and the force that previously pushed up the price may also turn into pressure to give up later. So, in my personal opinion, many people in the market are still holding onto the trend of rising, and short-term sentiment is already very hot, even a bit crowded. Although it is possible to continue pushing prices upwards, the main game has not yet landed, so once emotions turn around, a pullback may also be quick. At present, there is still a high probability of a rebound. Bitget VIP， Lower rates and more generous benefits