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Chasing Stocks Back in Vogue From Big Managers to Options Geeks

  • Surveys show fund positioning is rising from depressed levels
  • Cboe put-call ratio’s 10-day average falls to four-month low
A Bed Bath & Beyond store in Clarksville, Indiana.

A Bed Bath & Beyond store in Clarksville, Indiana.

Photographer: Luke Sharrett/Bloomberg

What began as a tentative testing of the equity-market waters is giving evidence of morphing into something bigger.

While a long way from the fervid pitch of the post-pandemic years, there are signs speculative zest is spreading beyond just meme traders, who have pushed AMC Entertainment up 78% in two weeks and caused Bed Bath & Beyond to quintuple. Comparatively stodgy active fund managers just jacked up stock buying at one of the fastest rates in years, and measures of bullish options exposure are surging.