Zero-Day Options Boom Is Coming for Big Tech as Hedging Picks Up

With Big Tech no longer leading stocks higher, traders are eyeing newly listed contracts to trade short-term opportunities in some of the biggest names.

The broadening of the equity rally has resulted in huge sector rotations that have flattened gains, keeping the S&P 500 Index almost unchanged for the year. With the earnings season coming to an end, traders have been buying more protection against a selloff, driving up the skew of puts over calls. Now the conflict sparked by US-Israeli strikes on Iran means they’ll have to factor in the consequences.