NDX Options Volatility vs SPX: Why Bullish Options Dominate Now

Bullish Gator

Kevin Davitt (Nasdaq) uses straddle-linked index data to show bullish options activity outpacing downside risk; warns it could flip if inflation or jobs data weaken, and examines NDX–SPX volatility links.

Editorial companion

What stands out

Kevin Davitt of Nasdaq turned to index straddles and option-implied volatility to argue that bullish activity in options is currently dwarfing downside hedges, and he singled out the tight relationship between Nasdaq-100 (NDX) and S&P 500 (SPX) options volatility while watching the CBOE Volatility Index (VIX). That observation is a practical thermometer of market confidence right now: it helps explain elevated options flows and why exchange volumes matter, and it also sets a clear reversal trigger if inflation or jobs data stop behaving.