BREAKING: Call option volume in the S&P 500 spiked to a record $2.6 trillion in notional value on Wednesday. The total dollar value of call options traded has more than QUADRUPLED since the beginning of 2023. Call options also accounted for ~58% of all S&P 500 options traded on Wednesday, an all-time high. This surpasses the previous record of ~52% set in 2018. To put this into perspective, the average over the last 15 months was ~46%. Risk appetite is through the roof.(The Kobeissi Letter)