Options investors are ramping up bets on some of this year's biggest winners, including Amazon.com Inc , Netflix Inc and Tesla Inc , even as ...
NEW YORK: Options investors are ramping up bets on some of this year's biggest winners, including Amazon.com Inc, Netflix Inc and Tesla Inc , even as they turn cautious on the wider market amid a resurgent US coronavirus outbreak.
"The flight to safety is in tech," said Amy Wu Silverman, equity derivatives strategist at RBC Capital Markets."These tend to be the names that are insulated from the fact that everyone is quarantined." Skew in Amazon, Netflix, Twitter and other momentum stocks has also been negative in the past week. By contrast, skew on the S&P 500 shows a growing bias toward puts.
Small toy figures are seen in front of diplayed Netflix logo in this illustration taken on Mar 19, 2020.
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