July 17, 2026
AI Hardware Is Eating Software Budgets
IBM’s record 25% crash, Micron’s memory boom, and a cool CPI are one story: corporate tech spending is being pulled from software into supply-constrained AI hardware.
Read the note →Plain-English commentary on what's actually moving the market — and what it means for anyone selling options premium. We tie the headlines to the one thing that matters for the wheel: where volatility (and therefore premium, and therefore risk) is showing up.
July 17, 2026
IBM’s record 25% crash, Micron’s memory boom, and a cool CPI are one story: corporate tech spending is being pulled from software into supply-constrained AI hardware.
Read the note →