Retail investors are betting big on big tech again. Cboe Global Markets reports retail call option volume on the so-called "Mag 10" stocks has surged to its highest 10-day stretch since 2021. A full 52% of new positions are call buys, compared to just 17% sells. That's roughly three bullish bets for every bearish one.
The Mag 10 expands on the Magnificent 7, adding AMD, Broadcom, and Palantir-all deeply embedded in the AI supply chain. Cboe tracks these names through its Magnificent 10 Index, ticker MGTN. The index is up 22% since March 2025.
The call-buying wave comes ahead of major tech earnings, according to Cboe. The skew isn't just optimism-it signals retail traders chasing momentum, not hedging positions.
Cboe is also building infrastructure around the trend, planning to list options and futures on the MGTN index for nearly 24/5 trading.