A botched government release of jobs data sowed chaos across stock and bond markets.
The exotic options are designed to deal with stretched equity valuations.
The group of disliked companies has fallen 11% so far this year.
All major asset classes fell in the holiday-shortened week.
Investors might see their risk appetite grow after a couple of key moments this week.
The S&P 500 Index posted an average daily move of 0.3% in either direction last week, its tamest swings in half a year.
Macroeconomic uncertainty has instead driven investors toward firms able to pay their interest expenses with earnings.
The Middle East conflict and surging Treasury yields have overshadowed earnings results.
The signal comes amid worries that Israel's war with Hamas will spark a bigger conflict.
Technical traders are concerned that the index will break its 200-day moving average, which sits around 4,204.