Software stocks stage 'mini' bull market. Some traders see more gains
Software stocks are experiencing a mini bull market as traders become more optimistic. Significant options trades, including a $32 million investment in Microsoft calls, indicate a bullish sentiment. Despite concerns over a potential 'SaaSpocalypse,' certain sectors like cybersecurity are thriving, with notable gains in ETFs and individual stocks.
- ▪Traders are making bullish plays in software stocks, highlighted by a $32 million options trade in Microsoft calls.
- ▪Bank of America analyst reinstated coverage of ServiceNow with a buy rating, leading to a 9% increase in shares.
- ▪Cybersecurity stocks are performing well, with Amplify's ETF 'HACK' up 16% since April 20.
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| Canonical URL | https://www.cnbc.com/2026/05/19/software-stocks-stage-mini-bull-market-some-traders-see-more-gains.html |
| Publication time | Tue, 19 May 2026 12:12:45 GMT |
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But traders are making more outright bullish plays.In one of the biggest options trades of the day, a trader spent $32 million buying 7,000 of the in-the-money 390-strike Microsoft calls expiring Aug. 21. Eight of the top 10 options trades in that stock were call-buyers.Helping invigorate optimism Monday was a report from Bank of America analyst Tal Liani who reinstated coverage of ServiceNow with a buy rating and $130 price target. Shares popped 9% and options traders pounced, scooping up more than 85,000 calls in the stock and trading five times more calls than puts.Even beleaguered Salesforce, which the BofA team labeled "underperformed" managed a 3.5% bounce and saw calls outpace puts three-to-one.While much of the category is still trading well off last year's highs, there's at least…
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