ABD hisseleri sert dalgaland\u0131; g\u00fcn i\u00e7indeki keskin teknoloji sat\u0131\u015flar\u0131, kapan\u0131\u015fa do\u011fru b\u00fcy\u00fck \u00f6l\u00e7\u00fcde telafi edildi. S&P 500, g\u00fcn i\u00e7i en d\u00fc\u015f\u00fck seviyesinde %2,27 gerilemi\u015fken g\u00fcn\u00fc %0,26 d\u00fc\u015f\u00fc\u015fle tamamlarken, NASDAQ %0,97 kay\u0131p verdi. Mega-kap teknoloji geride kald\u0131: \u201cMag-7\u201d %1,29 d\u00fc\u015ferken, Philadelphia yar\u0131 iletken endeksi g\u00fcn i\u00e7inde %8,62\u2019ye varan kayb\u0131n ard\u0131ndan %1,93 ekside kapand\u0131.<\/p>\n
Teknoloji d\u0131\u015f\u0131 tarafta ise piyasa geni\u015fli\u011fi daha g\u00fc\u00e7l\u00fcyd\u00fc: S&P 500 bile\u015fenlerinin yakla\u015f\u0131k d\u00f6rtte \u00fc\u00e7\u00fc g\u00fcn\u00fc art\u0131da bitirdi ve e\u015fit a\u011f\u0131rl\u0131kl\u0131 endeks %0,76 y\u00fckseldi; bu da daha defansif sekt\u00f6rlere do\u011fru bir rotasyona i\u015faret ediyor. Erken i\u015flemlerde S&P 500 vadeli i\u015flemleri %0,28 d\u00fc\u015ferken, NASDAQ 100 vadeli i\u015flemleri %0,45 geriledi. Avrupa\u2019da piyasalar ABD\u2019deki ge\u00e7 saatlerdeki toparlanma \u00f6ncesinde kapand\u0131; ancak \u00e7ipler ve geni\u015f teknoloji sekt\u00f6r\u00fcne daha s\u0131n\u0131rl\u0131 maruziyet, CAC 40\u2019\u0131n %0,05 art\u0131da ve FTSE MIB\u2019in %0,11 y\u00fckseli\u015fle kapanmas\u0131n\u0131 sa\u011flad\u0131.<\/p>\n
Piyasan\u0131n liderli\u011finde belirgin bir \u00e7atlak g\u00f6r\u00fcyoruz: sert teknoloji sat\u0131\u015f\u0131, di\u011fer alanlarda al\u0131mlarla kar\u015f\u0131land\u0131. Daha k\u00f6p\u00fckl\u00fc hisselerden uzakla\u015fan bu rotasyon, \u00f6zellikle Nasdaq 100\u2019\u00fcn Ocak 2026\u2019dan bu yana %25\u2019in \u00fczerinde y\u00fckselmi\u015f olmas\u0131 ve k\u00e2r realizasyonuna a\u00e7\u0131k hale gelmesi nedeniyle, \u00e7\u0131kar\u0131lacak temel sonu\u00e7. Bunun tek g\u00fcnl\u00fck bir olay de\u011fil, t\u00fcrev \u00fcr\u00fcnlerle y\u00f6netilebilecek \u00e7ok haftal\u0131k bir kayman\u0131n ba\u015flang\u0131c\u0131 oldu\u011funa inan\u0131yoruz.<\/p>\n
Yar\u0131 iletkenlerde ve mega-kap teknolojideki belirgin zay\u0131fl\u0131k g\u00f6z \u00f6n\u00fcne al\u0131nd\u0131\u011f\u0131nda, teknoloji a\u011f\u0131rl\u0131\u011f\u0131 y\u00fcksek endekslerde koruyucu \u201cput spread\u201d stratejilerini de\u011ferlendiriyoruz. Bu yakla\u015f\u0131m, daha fazla a\u015fa\u011f\u0131 y\u00f6n riskine kar\u015f\u0131 korunma sa\u011flarken, y\u00fcksek ima edilen volatilite sayesinde maliyeti dengelemek \u00fczere prim sat\u0131\u015f\u0131n\u0131 cazip k\u0131l\u0131yor. \u00d6rne\u011fin, yar\u0131 iletkenleri takip eden SOXX ETF \u00fczerinde put almak, sekt\u00f6r\u00fcn \u00e7o\u011fu zaman daha geni\u015f teknoloji d\u00fc\u015f\u00fc\u015flerine \u00f6nc\u00fcl\u00fck etmesi nedeniyle ihtiyatl\u0131 olabilir.<\/p>\n
D\u00fcnk\u00fc sert g\u00fcn i\u00e7i hareket, piyasan\u0131n korku g\u00f6stergesi VIX\u2019in k\u0131sa s\u00fcreli\u011fine 22\u2019ye s\u0131\u00e7ray\u0131p ard\u0131ndan 18 civar\u0131na geri \u00e7ekilmesine yol a\u00e7t\u0131. Bu, altta yatan oynakl\u0131kta art\u0131\u015fa i\u015faret ediyor ve \u00f6n\u00fcm\u00fczdeki sakin g\u00fcnlerde korunma sat\u0131n almak i\u00e7in uygun bir zemin olu\u015fturuyor. Yaz boyunca volatilitede olas\u0131 bir art\u0131\u015fa pozisyon almak i\u00e7in VIX call opsiyonlar\u0131nda veya S&P 500 \u00fczerinde daha uzun vadeli straddle stratejilerinde de\u011fer g\u00f6r\u00fcyoruz.<\/p>\n
E\u015fit a\u011f\u0131rl\u0131kl\u0131 endeksteki g\u00fc\u00e7lenmenin teyit etti\u011fi defansif sekt\u00f6rlere y\u00f6nelim, bize g\u00f6re y\u00fckseli\u015f f\u0131rsatlar\u0131n\u0131n bulundu\u011fu alan. Bu model, de\u011fer ve defansif hisselerin b\u00fcy\u00fcme hisselerine k\u0131yasla \u00f6ne ge\u00e7meye ba\u015flad\u0131\u011f\u0131 2021 sonu d\u00f6nemini hat\u0131rlat\u0131yor. Son bir aya ait fon ak\u0131\u015f\u0131 verileri, kamu hizmetleri (utilities) ve temel t\u00fcketim (consumer staples) ETF\u2019lerine giri\u015flerde %15 art\u0131\u015f g\u00f6steriyor; bu nedenle bu hareketten faydalanmak i\u00e7in XLU ve XLP gibi ara\u00e7larda call opsiyonu al\u0131m\u0131n\u0131 de\u011ferlendiriyoruz.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wall Street\u2019te alarm: teknoloji sat\u0131\u015f\u0131 sertle\u015fti, kapan\u0131\u015fta kay\u0131plar t\u00f6rp\u00fclendi. Liderlik Mag-7\u2019den defansife kay\u0131yor. VIX s\u0131\u00e7ray\u0131p geri \u00e7ekildi; put spread, VIX call ve XLU\/XLP \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":47755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=49645"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47755"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=49645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=49645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=49645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}