Tech stocks are under pressure today, with the Nasdaq Composite (IXIC) sharply lower as surging Treasury yields and a steep Oracle (ORCL) selloff weigh on the sector. Against this backdrop, Fastly Inc (NASDAQ:FSLY), GoDaddy Inc (NYSE:GDDY), and STMicroelectronics N.V. (NYSE:STM) are seeing unusually high options volume, with calls accounting for more than 90% of the activity for all three names.
Fastly stock was last seen down 8.2% at $27.23, pulling back after yesterday’s 13.7% surge. The shares are cooling after the company’s Investor Day, during which management outlined long-term financial targets through 2029. So far today, roughly 33,000 options have crossed the tape, double the intraday average, with calls making up 91.4% of the total.
GoDaddy stock is bucking the broader tech-sector selloff, up 3.2% at $99.43 at last glance. The shares earlier surged as high as $110.35 after reports that Gen Digital, the maker of Norton antivirus software, made a takeover offer for the web domain provider. Talks are reportedly still in the early stages, with no guarantee of a transaction. More than 15,000 options have changed hands so far, or more than seven times the intraday average, with calls accounting for 94.6% of the activity.
STMicroelectronics stock is down 2.8% at $50.99 at last check, moving in line with the broader tech-sector weakness. Options traders are targeting the semiconductor name amid the pullback, with roughly 34,000 contracts exchanged so far -- more than double the intraday average. Calls are particularly popular, accounting for 97.7% of today’s options volume.