The Big Take
One of the Most Infamous Trades on Wall Street Is Roaring Back
Billions pour into ETFs selling options in huge bet on stock calm
Illustration: Deena So'Oteh
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Forget the artificial-intelligence frenzy — the most-exciting trade on Wall Street right now might just be betting on boring.
As winners of the AI boom like Nvidia Corp. power benchmark stock gauges to record after record, a less remarked-upon phenomenon has been unfolding at the heart of the US market: Investors are sinking vast sums into strategies whose performance hinges on enduring equity calm.