Quiet session on Thursday with volume light across the board, institutional sweepers predominately bullish throughout the day as flow lacked quality early on but finished ok. 

The top bet list consisted of names like $Square, INC.(SQ.US)$ which also saw a huge chunk of its buying in short-term weeklies. 

On the sentiment front 

Short-term sentiment remains on the warm side as there haven't any signs of selling or profit taking yet.

Gamma exposure continues to spike which will add to the stickiness in price action and make it difficult to see any sort of downside momentum. 

Dip buyers are in full effect for now, maybe Friday's expiration will help loosen things up a bit but being just weekly expiration, it likely won't make much of a dent. 

To sum up

Elevated gamma readings, the start of earnings season, strong economic numbers daily really set up well for a drift higher in the indices. Outside of some unforeseen news to serve as a catalyst, the most we can likely hope for is a quick rinse over the extremely short-term, at least up until the start of earnings season when the banks get things going there. Quality and big tech continue to be the spot of interest out there, and that doesn't just mean FAANG either. Keep an eye on momentum names and some of the other quality growth names as players look for exposure into earnings. Everything at this point is likely to revolve around earnings, so if we do get some sort of dip, it will be buyable.

With all the factors mentioned, including earnings, they likely won't let things get too far away to the downside over the extremely short-term, at least until some names start reporting numbers.

Notable bettings toward broader market indices ETF on 4/8

Thursday's option volume of 31.1m contracts was 14% below recent average levels, with calls leading puts 7 to 4.Index and Single stock products saw relatively heavy volume, while ETF flow was moderate. 

Individuals breakdown by sectors (4/8 notable bets)

Today's mostactive sectors included Telecommunications, Utilities and Technology, while Consumer Cyclicals and Industrials were relatively light.Of the 3909 stocks with listed options, 2468 (63%) closed higher, and 1342 (34)% lower. Among the 500 most liquid single stocks, 30day implied volatility was higher for 143 and lower for 313. Unusual total option volume was observed in $CLOVER HEALTH INVESTMENTS CORP(CLOV.US)$, $Peloton Interactive Inc(PTON.US)$, $Roku Inc(ROKU.US)$, $Blink Charging Co(BLNK.US)$ and $Star Peak Energy Transition Corp(STPK.US)$.

Tech

Industrial

Consumer Cyclical

Financial

Communication Services

Healthcare

Energy

Real Estate

Basic materials

Consumer Defensive

Utilities