The bullish signals ahead of this week's Mag-7 earnings

Options traders are positioning bullish ahead of this week’s Mag-7 earnings, a development that could determine how much farther the S&P 500 can run. Calls are trading richer than puts across the five names reporting (Apple, Alphabet, Amazon, Meta, Microsoft), and call volume outpaces put volume in all but Alphabet. Implied moves show traders expect a roughly 5.25% swing in Alphabet (vs. an average 1% move historically) and a 7% implied move in Meta (versus an actual average 9% move over the last four quarters). With the VIX holding in the mid‑teens to mid‑18s, the story is constructive for the Mag‑7 and the broader market — but traders should note volatility typically falls the day after earnings.