Worst FANG Day Ever Finally Shakes Up Tech Hedging Costs: Chart

(Bloomberg) -- Implied volatility for tech shares had remained relatively contained, in comparison with the VIX surge last month. That’s over now: the measure of options prices for an exchange-traded fund tracking the Nasdaq 100 Index has hit its highest level since July relative to that for the SPDR S&P 500 ETF Trust. So-called FANG -- Facebook Inc., Amazon.com Inc., Netflix Inc. and Google’s parent Alphabet Inc. -- tumbled on Tuesday, with the NYSE FANG+ Index experiencing its worst plunge ever.

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