Options Traders Search for Cover With Tech Giants Looking Mortal
- Traders pay the most for Apple protection since August
- Magnificent 7 stocks are down this year after 2023-2024 surge
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After two years of chasing the seeming unstoppable rally in big technology stocks, options traders are showing signs of fatigue.
Investors are lining up more protection as the so-called Magnificent 7 lags the broader stock market on growing concerns over US dominance in artificial intelligence and the broader economy. That’s a striking turnaround from the recent past, when a few tech giants dominated gains in the S&P 500 and Nasdaq 100 indexes.