According to The Kobeissi Letter, Nasdaq 100 futures experienced a significant 350+ point reversal from red to green, indicating heightened market volatility. The Nasdaq 100 index has declined by 12% over 13 trading days, with US put option volume reaching a record high, signaling increased bearish sentiment. Additionally, many large-cap tech stocks have fallen more than 30% from their all-time highs, suggesting a challenging environment for tech investors.

According to The Kobeissi Letter, total US put option volume has reached its highest level on record, as reported by ZeroHedge. This indicates that short sellers are aggressively positioning themselves, potentially anticipating a market downturn.