FILE PHOTO: A man walks near Nasdaq MarketSite in an empty Times Square as the coronavirus disease outbreak continues in New York City, U.S., March 29, 2020. REUTERS/Eduardo Munoz
Despite last week’s market dip, the tech-heavy Nasdaq remains around 3% away from its record high. Traders - many of them retail investors - have plowed back into call options, used to position for gains in shares. “There hasn’t been that catalyst to really move the market down,” said Matt Amberson, principal at options analytics firm ORATS. “Starting from late September, we’ve seen call buying come back.”
Since its recent trough on Sept. 23, the Nasdaq has climbed nearly 10%. The index includes many growth-oriented companies, whose shares remain in favor in the wake of the novel coronavirus pandemic as their businesses have remained largely intact.Speculators in the futures market have had a dramatic change of heart. Funds have pulled back from one of the biggest short positions in U.S. tech stocks in over a decade, in a near-record buying spree of Nasdaq futures, CFTC data from last week showed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: THR - 🏆 411. / 53 Read more »