Retail investor options trading activity is skyrocketing. Retail options trading activity surged to 61% of total volume on Citadel's platform last week, near its highest on record. This proportion has risen +16 percentage points over the last 12 months. This is also 10 percentage points above the highest level recorded during the 2020 pandemic. Meanwhile, index and ETF options accounted for the majority of retail options activity on Thursday, with 1.7 contracts traded for every single-stock contract. The S&P 500 ETF, SPY, and the Nasdaq 100 ETF, QQQ, together accounted for 47% of all retail options trades. Retail investors are trading more options than ever.