[totalZero]

There's a concept in the options trading world called "correlation skew," which describes how tail risk for baskets like SPY/QQQ/XLK can trade richer than tail risk for the basket components, based on how much correlation there is expected to be in the components. When correlation is expensive, you can buy option contracts on the basket components and sell contracts on the basket itself, to set up a position that profits when the basket components exhibit dispersion rather than correlation.

Sure, we could see sector rotation into tech tomorrow. This may be somewhat muted because tech is already a very crowded trade, and tech names are already trading far higher than where they closed.