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Chip rebound sparks hedging flurry from traders
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- When it comes to chipmakers, traders are ordering à la carte and shorting the buffet.
- Put volume more than doubled that of calls Monday morning in the Van Eck Semiconductor ETF (SMH), with more than half of total premiums tied to puts.
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When it comes to chipmakers, traders are ordering à la carte and shorting the buffet.
Put volume more than doubled that of calls Monday morning in the Van Eck Semiconductor ETF (SMH), with more than half of total premiums tied to puts. Of that, more than 10% of the $217 million in premium exchanging hands did so in the 550-puts expiring Aug. 21. That level represents a 7% drop from current levels, showing traders are skeptical of the chip ETF's Monday bounce of more than 5%.
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