I just reviewed today's data and the sell options are dominating quite strongly. We're talking about a nominal value of $336 million in transactions, representing almost 30% of the total volume. The interesting part is that most of these transactions are out-of-the-money puts close to expiration and end-of-month options below 60k.

Honestly, this reflects that market sentiment remains quite fragile. When you see this kind of movement in put options, it generally indicates that traders are hedging or betting on a decline. If the market corrects, we're likely to see the downward pressure intensify significantly.