Opinions The Weekly Buzzing Stocks by Billy Kawasaki
SPDR S&P 500 ETFSPYTOP PICKJul 10, 2025
Stock price when the opinion was issued
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Major concern about this one is that it's really a technology ETF, given that 8 or 9 of the top 10 names are tech names. 40% of the S&P 500 is tech or tech-oriented, and we've never before seen this concentration. That's quite a bit of risk with so much exposure to one sector. Index is not as safe as it was 10 years ago.
Technology in this new world is exciting, but it's not cheap. Though earnings growth is very strong, how far will we let PE's go before we say they're too expensive?
He did a put spread on May 2, the 500-520 end of July put spread. He wasn't concerned about NVDA or tech, but to the market's reaction broadly to Nividia's earnings. Rally broadening in the S&P had not happened. You're limiting your downside with a spread. He bought back the 500 put, which leads him long only the 599 outs.
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