The Kobeissi Letter(@KobeissiLetter):Risk appetite is reaching historic levels: The 10-day moving average of S&P 500 options volume is up to a record ~5.5 million contracts. Since 2022, this figure has more than TRIPLED. Over the same period, Euro Stoxx 50 options volume has remained roughly unchanged, near ~1 million contracts. As a result, US options volumes are now more than 5 times larger than that of Europe. By comparison, options activity in these two markets moved in tandem before 2022. The US options market boom is unprecedented.

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The Kobeissi Letter@KobeissiLetter

2026.07.13 23:17

Risk appetite is reaching historic levels: The 10-day moving average of S&P 500 options volume is up to a record ~5.5 million contracts. Since 2022, this figure has more than TRIPLED. Over the same period, Euro Stoxx 50 options volume has remained roughly unchanged, near ~1 million contracts. As a result, US options volumes are now more than 5 times larger than that of Europe. By comparison, options activity in these two markets moved in tandem before 2022. The US options market boom is unprecedented.