According to The Kobeissi Letter, put option volumes on Magnificent 7 stocks spiked dramatically starting at 2 PM ET today, with $33 million in puts purchased before market close. This marks the first time this week that put activity has surpassed call activity in these major tech stocks, signaling heightened bearish sentiment. For crypto traders, this sharp increase in downside hedging on leading tech equities could translate into increased volatility across correlated digital asset markets, especially as tech-led risk sentiment often impacts cryptocurrencies like Bitcoin and Ethereum (source: The Kobeissi Letter, Twitter, May 15, 2025).