Additionally, another 13, 000 contracts are open at the deep out-of-the-money 65 strike in the front three months of options.

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Digging into the open interest configuration, peak call accumulations for the August and September series of options reside at the out-of-the-money 60 strike, representing more than 17, 000 contracts.

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Furthermore, peak call open interest for the front three months of options resides at the deep out-of-the-money 70 strike, totaling more than 10, 000 contracts.

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One way to play it would be to buy insanely out-of-the-money calls on the index, say 15-year options with a strike price of 40, 000.

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