Tech Bubble Fear Lures Investors to Hedge With Exotic Options

The tech-fueled stock rally is looking bubble-like to some investors, and they’re turning to exotic options that better protect against an eventual slump.

The fear-versus-AI FOMO narrative outlined by strategists at the end of 2025 is still in place, with intraday gyrations hinging on President Trump’s next move. Where tariffs were the biggest concern last year, inflation is the bogeyman, with Friday’s slide in the S&P 500 Index spurred by a jump in Treasury yields.

Read more: The Global Bond Rout Catches Up With Wall Street’s Risk Rally

The key difference now is the degree of concentration. A rally driven ...