The unexpected never happens when you're looking for it, which may explain why tech stocks have remained so strong in the face of surging rates and questions about the AI complex. In the options pits, traders are the most prepared for a pullback since early Summer. The Nasdaq-100 Index declined as much as 1.8% Thursday following a report from the Financial Times that ChatGPT owner OpenAI's revenues are coming up short. As the index slid, the number of open put contracts tied to the Invesco QQQ Trust relative to calls reached 1.49, the highest since the last week of June, according to Barchart data.
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