Options trading has become increasingly popular in recent years. Given options are different to stocks, we thought it was time to do an intern’s guide for U.S. options to help you understand options and options markets work.

Equity price action in July can be summed up as a rotational shift from the crowded mega-tech / AI trade that had moved the Nasdaq-100 and S&P 500 indices to record highs earlier in the month to investor enthusiasm for small-cap stocks.