$Goldman Sachs(GS.US) dipped slightly, with put volume on the options surface being more than double that of calls, pushing the put/call ratio to 2.06, making it the one with the heaviest short pressure among the three.
$Costco Wholesale(COST.US) rose slightly, put/call 1.46; $Unitedhealth(UNH.US) didn't move much today, put/call 1.07, with bulls and bears basically in equilibrium.
None of the three are growth stocks, yet they all simultaneously saw increased put positioning. As the broader market wavers along the AI valuation line, capital's move to buy protection for defensive assets has become even more pronounced. The ratio of over 2 times for $Goldman Sachs(GS.US) is worth watching, as the counterparty dynamics in investment banks' trading floors usually signal direction earlier than retail sentiment.
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