Volatility mixed as tech stocks rally amid US economic optimism and US-Iran talks.

Last week, implied volatilities showed mixed trends while risk assets rallied, driven by positive US economic data and hopes for a US-Iran resolution. The S&P 500 index rose over 9% in the past month, largely led by a 20% surge in tech stocks. This tech outperformance increased demand for options, especially call options on tech shares. Meanwhile, volatility in oil, interest rates, foreign exchange, and credit markets declined week-over-week, led by a drop in oil volatility.