CNBC
28 May 2026, 10:47 UTC · 3h ago
Rally in chip stocks becomes the most hated in history. Here's the data
Source · https://www.cnbc.com/2026/05/28/rally-in-chip-stocks-becomes-the-most-hated-in-history-heres-the-data.html
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CNBC
28 May 2026, 10:47 UTC · 3h ago
Source · https://www.cnbc.com/2026/05/28/rally-in-chip-stocks-becomes-the-most-hated-in-history-heres-the-data.html
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Story key points
4 claims · impact-rated
Open interest in put contracts on the VanEck Semiconductor ETF (SMH) has reached an all-time high of nearly 1.7 million contracts. — Record-high put interest indicates a significant increase in bearish bets or aggressive hedging against a potential semiconductor sector correction.
-0.40Implied volatility in the SMH is rising toward 55%, suggesting that puts are being actively bought rather than sold. — Rising implied volatility combined with high put volume signals growing investor fear and expectation of price swings to the downside.
-0.30Some market analysts argue that the prevalence of hedging over 'chasing' the rally may make the current semiconductor move more sustainable than a typical boom-and-bust cycle. — If the rally is characterized by hedging rather than speculative frenzy, it reduces the likelihood of a sudden, violent crash.
+0.20Traders are increasingly using the SMH ETF for bearish positions because implied volatility in individual chip stocks, such as Micron (105%), has become prohibitively expensive. — This suggests the put surge is partially a tactical shift in instrument choice rather than a purely fundamental bearish shift.
-0.10Ticker attribution
Model heads
Mentioned as having 'fever pitch' implied volatility and being viewed as expensive by traders.
No ticker relationship head found.
Impact vectors
5 dimensions · 9 clusters
Market reaction
10 bid · 10 offered