Photographer: David Paul Morris/Bloomberg
FANG Lovers Get a New Way to Bet on Stocks With Futures TradingBy
Investors who can’t get enough of FANG stocks just got another tool to bet on the tech giants.
Futures on the NYSE FANG+ index started trading Wednesday, providing access to the group that’s boasted some of the stock market’s best gains this year. In addition to the quartet of Facebook, Amazon, Netflix and Google, the index also includes Apple, Twitter, Alibaba, Baidu, Nvidia and Tesla. Each member is weighted equally.
As of 11:50 a.m. in New York, 68 contracts have changed hands in the debut, with all trading occurring in December futures. While the FANG index fell 0.3 percent to 2,225.64, traders bet the gauge may end the year higher at 2,227.80.