CNBC
02 Jul 2026, 18:28 UTC · 2h ago
Tech bulls lose conviction as key trading metric blows out to the widest since 2008
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
CNBC
02 Jul 2026, 18:28 UTC · 2h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
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4 claims · each scored for market impact
Demand for Nasdaq-100 puts has surged, with the implied volatility spread between Nasdaq and S&P 500 puts reaching levels not seen since the 2008 financial crisis. — Extreme demand for downside protection in Big Tech suggests a significant shift in sentiment toward potential crashes or sharp corrections.
-0.80The spread between Nasdaq-100 1-month implied volatility (28) and S&P 500 implied volatility (below 16) is currently near record highs. — Higher relative volatility for the Nasdaq indicates market participants expect significantly more instability in tech stocks than in the broader market.
-0.50Momentum in AI stocks is slowing, evidenced by the semiconductor ETF (SMH) falling 4.5% in a single session to levels not seen since late May. — A decline in the primary engine of recent market gains (AI/Semis) suggests a cooling of the speculative bull run.
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Demand for out-of-the-money Nasdaq calls has dropped from the 99th percentile in May to the 58th percentile. — While still positive, the sharp decline in aggressive upside betting indicates a loss of conviction among bulls.
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