According to The Kobeissi Letter, an $8 million spike in puts on the Nasdaq 100 ETF occurred at 2:20 PM, coinciding with a US ban on Nvidia's H20 chip sales to China. This event has led to a significant downturn in the Nasdaq, dropping nearly 300 points. Traders may view this as a strategic move to hedge against anticipated market volatility following the ban.

According to The Kobeissi Letter, an $8 million spike in put options on the Nasdaq 100 ETF occurred at 2:20 PM, which preceded a US government ban on Nvidia's H20 chip sales to China four hours later. This sequence of events has correlated with a nearly 300-point drop in the Nasdaq index, suggesting potential insider trading or foresight by investors. Traders should monitor the options market for unusual activity, especially in light of significant geopolitical and economic announcements.