Two trades that just happened in 'Magnificent Seven' stocks point to big gains ahead

With the Nasdaq trading less than 1% off all-time highs from last week, options traders are placing some big bets on two big-tech that haven't made new highs since at least May: Alphabet and Microsoft . Options volume was more than 50% above the 30-day average in both names Wednesday as equities firmed following economic data in the morning that came in better than expected, including a softer inflation print. Even as bond prices rolled over in the afternoon, Alphabet held onto a 2.7% advance, and Microsoft added 1.8%. Trading in Alphabet was particularly one-sided and bullish, judging by options flow data compiled across Cboe LiveVol, SpotGamma and Barchart.