Software stocks are experiencing a significant surge, with the iShares Expanded Tech-Software Sector ETF (IGV) breaking out of a multi-year cup and handle pattern. The ETF has seen substantial buying activity, with December $97 calls reaching 8,650 contracts at $1.20 each. October is historically a bullish month for IGV, boasting a 71% win rate and an average return of +3.70%. Several software companies, including Palantir, Oracle, and Applovin, are leading the charge with new highs. IGV has also achieved a weekly breakout to new highs.