BofA Has Options Play to Bet on Tech Rally as Hedge Funds Sell

The Bank of America Corp. logo. Photographer: Scott Eells/Bloomberg Signs of caution are emerging around high-flying tech shares. But that’s just making it cheaper to use options to bet on further gains in the stocks, Bank of America’s derivatives strategists say. After scooping up tech shares for months, hedge funds dumped the group last week at the fastest pace since early August while piling into value sectors like banks, according to Goldman Sachs Group Inc.’s trading desk. In options, traders aren’t ...