Options Terminal is also integrated with the Datalab system, allowing users to view data visually and interact with AI to analyze market trends directly within the system. Today, put block options accounted for nearly 40% of total trading volume, with concentrated trading centered on bear spreads for the 75K/71K puts expiring at the end of May, totaling nearly $200 million in notional value. Traders are using the recent rebound to establish defensive positions for the final ten days of the month. Overall, the market is positioning itself to defend against price pullbacks but does not anticipate a market collapse. May and June have long been viewed as unfavorable trading months, and this month, major investors have been steadily increasing their defensive positions: buying effective protection, selling margin calls at the tail end, and controlling costs.(Greeks.live)