The week closed with the tape leaning defensive: $8.04B in puts beat $5.43B in calls by $2.60B, even as $TSLA, GOOGL and GOOG kept megacap demand alive. ↘️ Options flow: $8.04B puts vs $5.43B calls, net -$2.60B ↘️ Tape: repeated negative spikes ran through the week, with sharp midweek and late-week drawdowns ↗️ Megacaps: TSLA $358.8M, GOOGL $260.0M, GOOG $244.6M kept call demand concentrated ↘️ Defense: BA ran 72% put flow and 3.9x momentum on $159.5M ➡️ S&P 500: lower half of 7,525-7,750, centered near 7,550-7,600
