The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Options traders anticipated significant volatility for mega-cap tech firms like Apple, Meta, and Microsoft ahead of their earnings reports. By July 30, market participants expected major price movements for Apple and Amazon, with Apple potentially nearing record highs. Consequently, the S&P 500 surged 6.48% during the week ending August 5, driven by equity options trading. This upward momentum was further accelerated by a gamma squeeze phenomenon as options positions were hedged.