<p>In the past year we’ve seen the implosions of:</p><ul><li>NFTs</li><li>Meme stocks</li><li>Crypto</li><li>Tech stocks</li></ul><p>With that, you would think retail traders would sober up. Instead, they’ve switched from hard liquor to crack cocaine in the of ultra-short-dated equity options. Here’s a chart from Goldman Sachs showing that 44% of SPX volume in the third and fourth quarter (so far) has been in options with less than 24 hours to expiration.</p><p>Today is quad witching so it makes me skeptical of price action but there’s also a bigger picture story here and it ends badly.</p><p>Whatever happened to investing?</p>

This article was written by Adam Button at www.forexlive.com.