Goldman Sachs liquidity strategist Lee Coppersmith noted that after the large-scale deleveraging and tech stock sell-off ended in July, market sentiment quickly reversed in early August, and investors are rapidly rebuilding risk exposure. Data shows that S&P 500 call option volume surpassed 4 million contracts on Tuesday, setting a new all-time high for a single day, and the put/call skew recorded its largest drop in nearly a decade, reflecting a sharp increase in investor demand for upside risk exposure. Goldman Sachs believes that this round of position rebuilding is a result of improving earnings, economic, and liquidity environments, and expects a "faster with every rise" momentum-chasing effect to be forming. It continues to favor the Korean market as the most cost-effective direction for positioning in the AI hardware recovery.