Retail Investor Activity in US Options Market Reaches New Heights

The Kobeissi Letter posted on X. Retail investor activity in the U.S. options market has surged significantly, with the average daily options volume in precious metals being 6.6 times larger year-to-date in 2026 compared to the entire year of 2023. This increase in retail options activity in gold and silver has surpassed every year since 2020 by at least 300%. Consequently, total options activity among individual investors reached an all-time high last month. This surge comes as retail traders conducted 22% more daily options transactions than in January 2025, marking a 50% increase compared to the January average from 2020 to 2025. The current retail appetite for risk is at unprecedented levels.