The $300 Billion FAANG Surge Lives Another Week
- Cost of puts versus calls on Nasdaq 100 ETF near 2018 high
- Market cap of the Nasdaq Composite is 49% of that of the S&P
Photographer: Meg Roussos/Bloomberg
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The world’s favorite stocks fought through to their seventh rally in nine weeks, though not without landing a few blows on traders.
For about 24 hours on Thursday and Friday, losses in the FAANG block looked liable to snowball, bringing back memories of a similarly out-of-the-blue lurch almost exactly a year ago today. But the nervousness abated, possibly aided by precautions traders have taken to lock in gains that are again approaching historic dimensions.