The rapid fluctuations in the market drove the activity of the options market to the highest level in the past year, with more than 15,000 block trades on that day and a nominal value of more than 1 billion US dollars.

Among them, the largest order was 275 sets of Iron Eagle options, with a single nominal value of US$73.34 million. Observing the composition of the options is likely to be a position adjustment by the option market maker, which can be considered as a short position and exit.

Recently, large investors have liquidated option positions on a large scale, whether they are long to take profits or short to admit losses, which has suppressed the rise of IV.