Retail Stays Bullish On Hyperscalers Ahead Of Earnings

Implied volatilities were mixed across asset classes last week as oil prices spiked on renewed geopolitical tensions. While overall levels of the VIX Index remain fairly muted at 18, we’re seeing increasing signs of risk aversion underneath the index surface. With the bulk of mega-cap Tech earnings coming this week, what stands out is how bullish retail investors have gotten on the hyperscalers in recent months even as those names have largely struggled.

Implied volatilities were mixed across asset classes last week as oil prices spiked on renewed geopolitical tensions. Oil volatility jumped another 8 pts, with the OVX Index now at a 2-month high of 68% and