Buzz and Banter
There is aggressive call buying today in technology names across the board. Should we view this as negative or positive? One could say that since call buying limits the downside while providing upside, buyers are being overly conservative. Another would say that it signals a last gasp to be invested.
It looks to me that these are hedge funds that have been underinvested and are finally throwing in the towel on waiting to buy them lower. But at the same time they are not overpaying for the calls. So I don't think there is a lot of information in this that we can hang our hat on.
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