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"In the week ending Sept. 4 alone...small traders shelled out $11.5 billion this way—an all-time high and nine times last year’s average. To put that week’s bets in perspective, in all of fiscal 2019 Americans spent $91 billion on lottery tickets." https://www.wsj.com/articles/are-you-an-investor-or-a-gambler-thestock-market-knows-11599836443?mod=lead_feature_below_a_pos1
“The data doesn’t have a mark of a whale. It has the mark of lots of little, tiny whales that add up to one big one.” https://www.ft.com/content/b330e091-2a59-4527-b958-9213731a526c
“These are not calls or puts people are buying and selling for the premium; they’re not doing it to hedge a position. These are naked, purely speculative plays that we’re seeing.” https://www.barrons.com/articles/how-retail-investors-are-fueling-the-nasdaqs-wild-ride-51599866516
“There is definitely demand from small investors who began to see this as a money machine.” https://www.bloomberg.com/news/articles/2020-09-06/the-bro-trader-options-enhanced-stock-money-machine-goes-global?sref=BLJs6Twt
"My take is that it's less SoftBank [driving options markets] and more this collective activity of retail, momentum-oriented crowd." https://markets.businessinsider.com/news/stocks/nasdaq-whale-softbank-retail-trading-options-2020-9-1029576747#
