Put option volume is skyrocketing:
Notional trading volume in S&P 500 put options surged to a record $3.3 trillion on Friday.
Additionally, the US Dollar value of S&P 500 put options traded during Friday's session was +330% above the 2024 average.
By comparison, before the 2020 pandemic, daily volumes ranged between $100 billion and $500 billion.
Meanwhile, total CBOE put option volume rose to 9.6 million contracts on Friday, the 4th-highest since 2015.
Investors aggressively bought puts into Friday's close.