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 U.S. coronavirus outbreak.
The logos of Netflix, Tesla and Amazon are seen in this combination photo. REUTERS/Lucy Nicholson/Thilo Schmuelgen
Fears of further economic fallout from the coronavirus mounted on Monday as California reinstituted restrictions on businesses and the state’s two largest public school districts announced instruction would be online-only when school resumes. The tech-heavy Nasdaq toggled between gains and losses Tuesday, a day after falling 2.1%, its biggest percentage loss in more than two weeks.
“You have almost a perfect storm,” said Matt Amberson, principal at options analytics firm ORATS. “There’s a little bit of institutional worry, but retail ... are bullish.”
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