Retail options trading enthusiasm continues to rise. Data shows that retail options trading volume has accounted for 21.7% of total market activity, reaching a record high. Since 2021, the 21-day moving average of this trading volume has surged by 10 percentage points, indicating a clear upward trend. Notably, the average daily activity of retail call option contracts has reached 8.2 million, reflecting that retail investors' enthusiasm for using options tools is rapidly increasing. This phenomenon not only indicates a change in risk appetite among retail traders but also reflects the evolution of the overall structure of participants in the crypto market. As more retail investors enter the options market, market volatility may further increase, and investors need to closely monitor how this change impacts the overall market landscape.