While the VIX rebounded from its lowest level since 1993, it was volatility bets for tech stocks that saw the biggest spike last week.
As Bloomberg notes, amid Friday’s Fang-nado, the CBOE NDX Volatility Index soared 40%, the most since the stock rout of January 2016, reaching its highest level relative to the (S&P) VIX since the aftermath of the dot-com bubble burst.
With tech shares including Apple Inc., Nvidia Corp. and Applied Materials Inc. down in early New York trading, and volatility soaring in many individual tech stocks…
The Nasdaq Composite Index may be headed for more losses after posting its worst week of the year.
So much for BTFD… for now.