The trader spent $20.9 million in the form of a premium on call options, betting on the growth of the index above 9,000 by December 2026. Such an increase would dwarf the 17% increase achieved this year.

The cost of a position will increase significantly if American stocks continue to rise, even if the index does not reach 9,000, which significantly exceeds all targets for next year among analysts.

"It seems that the investor is setting a limited level of risk due to significant growth over the next year and/or increased volatility in this direction," said Christopher Jacobson, co—head of derivatives strategy at Susquehanna International Group.

A trader can also make a profit if the market becomes more volatile. The volatility of options has been moderate this year, as the market has mostly been growing with small fluctuations, interrupted by short-term unrest such as in April.

In general, the options market in the United States is booming: in September, the trading volume of options reached an average of 67 million contracts per day, which is 40% more than in the same month last year.