Rocket Companies and Solar ETFs See Surge in Bullish Options Activity
Following midterm election results, market volatility has decreased as investors rotate away from big-tech trades. The S&P 500 saw a significant midday rally, accompanied by a sharp drop in the Cboe Volatility Index (VIX). This shift in sentiment is driving specific sector rotations, particularly moving away from energy and semiconductors toward consumer discretionary and solar sectors. Rocket Companies (RKT) experienced heavy bullish options activity, with call volume accounting for 90% of its 110,000 traded contracts. Similarly, the Invesco Solar ETF (TAN) saw a massive spike in call buying, reaching its highest trading level since July. Conversely, energy and semiconductor sectors faced bearish pressure, marked by heavy put buying in the XLE and SMH ETFs.
Tickers: $RDFN $RKT $SMH $SPY $TAN $XLE $XLY
Topics: energy sector decline options volume sector rotation stock market rally volatility index
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