Scott Rubner, head of equity and equity derivatives strategy at Citadel Securities, said retail investors could return to U.S. equities in size this month after a sharp cooldown in September. In a note to clients, Rubner said October may still be volatile, but the start of earnings season and the expected resumption of corporate share buybacks could create a better entry point for investors looking to add exposure again. He wrote that after positioning was cleared out and valuations moved lower, the market is entering the fourth quarter from a cleaner starting point, leaving more room to rebuild exposure. Rubner also pointed to weaker retail activity in September: cash equity trading volume fell to 0.94 times the average level of the past year, the lowest reading of 2026, while retail options premium dropped to the same multiple. Current stock trading activity is 26% below the June peak, and options premium has fallen by about one-third from the 1.41-times level reached then.
BlockBeats reported on Oct. 2 that Scott Rubner, Citadel Securities' head of equity and equity derivatives strategy, said retail investors may return to U.S. stocks in size this month after a sharp cooldown in September.
October seen as a window to add exposure
In a note to clients, Rubner wrote that October could still bring volatility. Even so, the arrival of earnings season and the expected restart of corporate share buybacks give investors a better point to "add exposure" again.
He said that after positioning was cleared out and valuations declined, "the market enters the fourth quarter from a cleaner starting point, with materially more room to rebuild exposure."
Retail activity cooled in September
Rubner wrote that September cash equity trading volume fell to 0.94 times the average level of the past year, the lowest point in 2026. Retail options premium also dropped to the same multiple.
Current stock trading activity is 26% below its June peak, while options premium has shrunk by about one-third from the 1.41-times level reached at that time.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
