Woofun AI data shows that the volatility differential between the Nasdaq 100 and S&P 500 has expanded to its widest point since the 2008 financial crisis. This divergence stems from heightened investor demand for Nasdaq put options, reflecting growing apprehension regarding potential corrections in technology equities, particularly within the artificial intelligence segment. The semiconductor ETF (SMH) declined by over 5% on Thursday, underscoring the decelerating momentum of previously favored tech assets. While enthusiasm for call options has moderated, it persists at elevated levels.