The odd mood right now is that prices are moving, traders are reacting, and the options market still looks like it forgot to set an alarm. That gap between what markets are doing and what they're pricing is the thread running through almost everything this week.

• Volatility disconnect
• Nvidia and the semiconductor paradox
• Mag 7 leadership and narrow breadth
• Rates, bonds, metals, and crypto
• Oil and energy pressures
• The options playbook
• Boxes, management rules, and small accounts
• Retail flows, skew, and near-term catalysts
• Odds and ends on the tape

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