Record Call Buying Signals Bounce Bets in Global IT Stocks

Shares of IT companies worldwide have come under strong selling pressure over the past several days, reflecting a sharp deterioration in risk sentiment across global equity markets.

Against this backdrop, the options market is sending a notable contrarian signal.

Call option volume on the IGV software ETF surged to a record level this week, with total contracts traded reaching roughly 220,000. The spike marks the highest call activity on record for the fund.

The positioning suggests that traders are actively betting on a rebound in software and broader technology stocks after the recent drawdown, rather than extending bearish exposure.

Historically, extreme call activity following sharp sell-offs has often reflected expectations of short-term stabilisation or tactical bounces, although it does not guarantee a sustained trend reversal.

For now, the options flow highlights a clear divergence: spot markets remain under pressure, while derivatives traders are increasingly positioning for an upside reaction.