Analysis-US stock options watchers warn Wall Street's rally 'ripe for volatility spasms'

Wall Street has rattled off a nine‑week rally to fresh highs, led by AI/tech optimism despite higher oil prices and the Middle East conflict.
Options traders are leaning into upside calls and skipping hedges — a sign of exuberance that leaves the market fragile if sentiment shifts.
Stock correlations are near record lows and several catalysts (Fed meeting, SpaceX IPO, Iran tensions) could spark a sudden, violent bout of volatility.