The options market is showing something fascinating right now. Traders are buying call options (bets on rising prices) with intensity not seen in four years, driven primarily by fear of missing out rather than economic fundamentals.
Key numbers tell the story:

Barclays Euphoria Indicator: 14.3% (nearly 3 standard deviations above normal)
Daily call volume: 40M average (highest on record since 2010)
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