⚠️Investors are hedging against an S&P 500 DROP at a record pace: Estimated S&P 500 put delta positioning is down to -$55 billion, the most negative reading since at least the GREAT FINANCIAL CRISIS. This means investors are currently holding the largest dollar amount of S&P 500 put options (protection) EVER. This even exceeds the 2020 CRASH, the 2022 bear market, and the April 2025 tariff selloff.