Scott Rubner, head of stock and stock derivatives strategy at Castle Securities, said that after a sharp cooling in September, retail investors are expected to once again pour into the US stock market this month. Rubner wrote in a report to clients that although there may still be fluctuations in October, as earnings season arrives and corporate stock buybacks are about to resume, this month provides a better entry point for investors to “re-increase their positions.” He said that after positions were cleared and valuations declined, “the market entered the fourth quarter from a cleaner starting point, and the room for re-establishing exposure expanded markedly.” Rubner wrote that the volume of spot stock trading in September fell to 0.94 times the average of the past year, the lowest in 2026. Retail option premiums have also been reduced to the same multiple. Currently, stock trading activity is 26% lower than the June high, and option premiums have shrunk by about one-third from the 1.41 times level reached at the time.
智通财经·10/01/2026 16:33:08
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Scott Rubner, head of stock and stock derivatives strategy at Castle Securities, said that after a sharp cooling in September, retail investors are expected to once again pour into the US stock market this month. Rubner wrote in a report to clients that although there may still be fluctuations in October, as earnings season arrives and corporate stock buybacks are about to resume, this month provides a better entry point for investors to “re-increase their positions.” He said that after positions were cleared and valuations declined, “the market entered the fourth quarter from a cleaner starting point, and the room for re-establishing exposure expanded markedly.” Rubner wrote that the volume of spot stock trading in September fell to 0.94 times the average of the past year, the lowest in 2026. Retail option premiums have also been reduced to the same multiple. Currently, stock trading activity is 26% lower than the June high, and option premiums have shrunk by about one-third from the 1.41 times level reached at the time.