Options traders bet on disaster amid Iran conflict, Big Tech stocks

Iran conflict intensifies, sparking turmoil in global equity markets. US stock indexes hold up near record highs, while South Korea's Kospi Composite Index falls over 10% since March. Options traders are bracing for disaster, with demand for out-of-the-money put options tied to Big Tech stocks and an ETF that tracks the Nasdaq-100 surging relative to out-of-the-money calls.