Today's Options Flow: Potential Fireworks Ahead with Powell's Testimony and Inflation Data

After a seasonally low volume period last week, option bulls continued to layer into long positions while neglecting downside hedges. Today, some small put buying emerged with Powell’s testimony and inflationary data on the calendar this week. The market is targeting 5,600 for the S&P 500, and with a break of that level, further melt-up may ensue. Stay tuned for potential market shifts and volatility as key events unfold!
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