June 1, 2023

A Tech Mania Is Underway. Bullish Bets Are Exploding.

Tech stocks are racing past the broader market today. Traders are rushing to to play the move higher.

The recent rally has been marked by heavy activity in bullish options tied to tech. Nvidia call options hit one of the highest levels on record in recent sessions, as did activity in the Technology Select Sector SPDR Fund, a popular ETF tied to the sector, according to Cboe Global Markets data. Calls trading in Advanced Micro Devices shares hit the highest level of the year this week.

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