tech
Software stocks are crashing up. Here are the winners
The rally in software stocks has gone from recovery to raging bull market, and traders are betting there's more to come.
TL;DR
- Software stocks are experiencing a strong bull market rally.
- The iShares Expanded Tech-Software ETF (IGV) is up 35% from its April low.
- Options traders are heavily favoring bullish positions on the IGV, with call volumes significantly exceeding puts.
- Major software companies like ServiceNow, Workday, Salesforce, and Oracle have seen double-digit percentage gains.
- IGV options trading volume surpassed that of the semiconductor ETF SMH.
- Some traders are hedging call-buying with spreads, and large call sales have also occurred.