Individual investors are taking over the market: Retail investors' share of the options market has hit a record 21%. The percentage has risen by ~5 percentage points since April. It also now exceeds the 2021 meme stock frenzy high by 4 percentage points. Meanwhile, retail trading activity now accounts ~20% of total stock market volume, the highest level in 4 years, according to Citadel. Simultaneously, call options now reflect ~68% of total market volume, the highest since 2021. Retail investors are stronger than ever.(The Kobeissi Letter)