Nasdaq 100: Stronger near-term put additions suggest increased demand for downside protection, although this does not necessarily indicate bearish sentiment.

WTI crude: Rising call and put open interest reflects positioning on both sides, with uncertainty surrounding future oil prices.

Gold: Longer-dated call additions suggest growing interest in potential upside, although the direction of these trades remains unconfirmed.

I would prioritise implied volatility, futures prices and sustained changes in open interest before drawing conclusions.

Importantly, rising open interest does not reveal whether traders are buying or writing options.

Ultimately, options positioning provides useful clues about market expectations, but price movements and macroeconomic fundamentals are needed to validate them.