Stocks are headed for another daily and weekly drop on Friday, as Fed fatigue and recession fears continue to dampen investor sentiment. The Dow Jones Industrial Average (DJI) was last seen down more than 350 points, while the Nasdaq Composite (IXIC) and S&P 500 (SPX) are headed for more steep losses of their own, ahead of quadruple witching at the close this evening.

In fact, the $2.6 trillion in index options marks the largest amount in nearly two years, per Goldman Sachs. Meanwhile, Wall Street's "fear gauge" -- the Cboe Volatility Index (VIX) -- is back on the rise and headed for its second-straight weekly pop. 

TAL Education Group (NYSE: TAL) is seeing a surge in options activity today. So far, 13,000 calls and 2,053 puts have exchanged hands, which is seven times the intraday average. The most popular position is the January 2023 7.50-strike call. TAL was last seen up 16.6% at $7.54, though no catalyst for the price action is readily apparent. The stock earlier hit an annual high of $7.67, and now sports a 90% year-to-date lead. 

Trean Insurance Group Inc (Nasdaq: TIG) is one of the top performers on the Nasdaq today, last seen up 92.2% at $6.00, following news that the company agreed to be bought by Altraris Capital Partners in a deal worth $6.15 per share, or approximately $316 million. The equity toppled recent pressure at the 80-day moving average, though still suffers a 32.7% year-to-date deficit.

Meanwhile, Cosmos Holdings Inc (Nasdaq: COSM) is one of the worst Nasdaq performers. The stock was last seen down 55.8% at $3.65 after the company announced it would change its name to Cosmos Health Inc. and announced a 1-for-25 reverse stock split. The stock sank back below recent support at its 100-day moving average as it heads back toward its Nov. 8, record low of $1.69.

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