**Call Option Volume Hits Four-Year High**

Call option volume now makes up **70%** of total options activity, the highest in at least four years. Since early April, this share rose by **25 points**, the largest two-month jump on record.

This exceeds last year’s peak near **68%**. The two-year average was about **55%**.

The total notional value of **S&P 500** call options versus the index’s market cap hit a record **4.1x**, doubling in two months. Bullish demand is surging.

**[@futures](https://t.me/futures)