Shocking stat of the day:
Total quarterly options volume exceeded 3.5 billion contracts for the first time in Q3 2025.
Total options contracts traded have DOUBLED over the last 5 years.
This comes as retail investor participation hit a record 55% last quarter, meaning retail now reflects the majority of market volume.
This percentage has risen +10 points since 2023.
By comparison, the 5-year average has been ~49%.
Meanwhile, retail flows showed one of the largest buy-the-dip events on record during the market pullback last week, according to Citadel.
Retail investors are taking over the options market.
The next phase depends on what businesses do next.
Consumers and government spending have carried the economy, but they can’t drive forever.
If companies invest again, growth can become durable.
If they stay cautious, the economy will settle near 2% growth, steady but uneasy.
The U.S. economy looks strong in the headlines, but the details tell a different story.
Growth is solid, inflation is easing, and rates are lower, yet the foundation of that strength is starting to thin.
Here’s what the numbers actually show. 👇
Treasury yields show the forward-looking story.
The 10-year sits near 4.10%, down from 4.8% in January and around 4% in late October.
Falling yields suggest markets expect slower growth, not easy money.
Mortgage and credit costs remain high compared to the 2010s.
Proud to have been part of this from the beginning. Watching it grow from an idea into a firm grounded in quantitative research, precision, and data-driven innovation has been something special. Excited for what’s next.
🚀 Big news from the Hash Capital Research Team:
We’ve officially evolved — Hash Capital Partners is now Hash Capital Research.
A rebrand that reflects our transition from an credit underwriting partnership into a quantitative research firm dedicated to advanced, data-driven market systems.
🧠 Over the past quarter, we’ve made a massive overhaul across the board:
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🚀 Big news from the Hash Capital Research Team:
We’ve officially evolved — Hash Capital Partners is now Hash Capital Research.
A rebrand that reflects our transition from an credit underwriting partnership into a quantitative research firm dedicated to advanced, data-driven market systems.
🧠 Over the past quarter, we’ve made a massive overhaul across the board:
1. A redesigned website and documentation hub
2. Expanded research access for clients and partners
3. A roadmap for a highly profitable proprietary swing strategy, now in active development
4. Long-term plans for crypto vaults, enabling investors to allocate directly into our strategies
🌐 Explore the new site: https://t.co/ckfnP3YeFk
The mission hasn’t changed, only the scale.
#QuantResearch #CryptoTrading #SwingStrategy #CryptoTrading #AlgoTrading
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Introducing HCR Supply & Demand (S&D)
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In gold terms, the S&P 500 is down nearly 30% so far this year.
The decline is about to surpass 2008 as the worst year for the index in gold terms in over two decades.
Yes, most people are pleased with their investments this year, but in real inflation-adjusted terms, the S&P 500 is acting as if the economy were in a deep recession.