Massive SPY put wall builds at 665. A trader drops $2M on deep OTM Nasdaq crash bets. VIX ended the day -10.27%, there is now an 85% probability of a down day on SPY within the next 2 trading sessions.

For tomorrow market – I see premiums are really bullish.

When I check option by option I see this

First image: FULL BEAR MODE, $SPY PUTS AT 675
Second: FULL BEAR MODE, shorting $SPY calls at 684

But the third: some puts are being shorted (third image).

But this 665 friday… pic.twitter.com/R41OBvDSj8

— Data Driven Stocks (@stockdatamarket) March 4, 2026

NOTE: Heavy SPY put volume does not automatically predict market direction

Into Close, someone added nearly $1M of $SQQQ 90c for 3/20 (30% OTM)

Followed by another order of nearly 10,000 $SQQQ 105c 3/27 originating from the floor for another $1M
(50% OTM)

Good lord… pic.twitter.com/sFjMPOLpdz

— Options King Of The Sea (@SeaKingOptions) March 4, 2026

VIX ended the day -10.27%, there is now an 85% probability of a down day on SPY within the next 2 trading sessions. pic.twitter.com/zNHWiXNQBX

— Michael Bento (@MichaelPBento) March 4, 2026

There you have it. Oil $100 pic.twitter.com/CQO87nPGaQ

— Oil Bandit 🛢️ (@OilCfd) March 4, 2026

Holy shit, this is going to get ugly pic.twitter.com/sGfHIPQPLE

— Michael Bento (@MichaelPBento) March 4, 2026