I want you to understand how unusual the moves were today. Before Trump announced a pause, there was HUGE $QQQ volume on a 460C expiring 04/17. They were bought for $0.85 and ran to as high as $31 per contract!!! This was before any news. Later in the day, it rallied 2000% in ten minutes. The trader made millions. Why was this unusual? For a few reasons: - Firstly new opening volume on chain, minutes after market open - IVR of +80 on $QQQ, with iv percentile of medium. So vol wasn’t anticipating a move this big - all execution happened at once, at ask - this was wildly out of the money at the time - market was bearish, across the board Unusual.

Alright, I think people knew of the tariff pause and traded it beforehand. You can see before Trump posted "buy" on Truth Social, traders opened $QQQ $TQQQ and $SPY calls RIGHT BEFORE THE NEWS, someone opened $SPY 509 calls, expiring TODAY!!!!!!!!!!!!!!!!!!!! Those calls are up 2100% in one hour. You can see all volume was literally opened TODAY!!!!!!!!!! (That little green arrow). You can see all volume is new opening volume (not only on the Zero days, but also on the weekly $QQQ and $TQQQ calls). This is especially odd given IVR on these was around 82 this morning, with IV through the roof. The traders really wanted to trade directionally... In fact, using Unusual Whales' net premium, you can see people have been loading calls trading for a reversal, following these opening calls. Very clear example here. Insane, someone knew.