September Technology Calls Expire Worthless for Robinhood Traders

The last few months have been terribly exciting for the technology sector. It is the most loved and the most hated at the same time.

Long-term players want to be long the sector but cannot justify adding to stocks when they are at nosebleed levels and are too scared to average in higher. Short-term players always try to short the sector, trying to call a top, but they risk getting burned as the momentum is just too strong and wipes them out. Because of the massive weighting of these stocks in the large-cap indices, what happens to them has huge bearing on what happens to the rest of the sectors and industries, and vice versa.

Back in August, the S&P 500 moved 8% higher on light volume and no new news about the economy or the recovery. It was a handful of stocks dragging the index higher, among them Amazon

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