Jun. 2 at 11:22 AM
Software stocks just passed a big milestone
$IGV $PANW $CRWD $ORCL
Bulls have a fresh set of challenges ahead of them: a string of major software earnings in the coming weeks that includes Palo Alto Networks on Tuesday and CrowdStrike on Wednesday, and Oracle later this month.
Big flows into Oracle, the biggest weighting in the IGV ETF, look encouraging. Options premium reached
$1.3 billion in the stock Monday, with
$1 billion tied to call contracts. More than three times as many calls traded as puts by volume, and more calls were bought than sold, with more than 114,000 calls likely bought. By comparison, just over 25,000 puts were purchased.
More imminently, traders expect a big move around CrowdStrike earnings on Wednesday. Options prices are implying an almost 9% move for the stock heading into the print, but the options market has overpriced the actual move in the last seven quarters, according to Cboe’s LiveVol data. https://www.cnbc.com/2026/06/02/software-stocks-just-passed-a-big-milestone.html?__source=iosappshare%7Ccom.stocktwits.StockTwits.STShareExtension
