[hehaheha]

It’s not resurgence of active trading. It’s a new brand of highly levered trading. We’ve never seen anything like it before. This was highlighted at institution level with Softbank last year and recently with Bill Hwang and Archegos debacle. And you see retail trading weekly options in high volume. Is it gambling? When was investment not gambling? It was always “informed” gambling with positive expected avg return.

What’s the economic impact of this behavior though? I want to say it’s generally negative since it’s bound to grossly disrupt proper price discovery but was that even the case before this period of excess leverage? I doubt it.