fullscreen

eFinder

eFinder

Home › Options Trading Strategies › Article

Rally in chip stocks becomes the most hated in history. Here's the data

Cnbc · · 357 words · By Oliver Renick
Options Trading Strategies Semiconductor Market Volatility
headphones Listen to the eFinder podcast briefing
Ready to play
Daily briefing

What to know about Options Trading Strategies

The rally in semiconductor stocks is so incredible, traders can't help but bet against it.

Claims checked 8
Techniques found 1
Topics 2

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center100%
Right0%

1 source compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

The rally in semiconductor stocks is so incredible, traders can't help but bet against it.

Why it matters

Open interest in put contracts on the VanEck Semiconductor ETF (SMH) have surged the past two months to just under 1.7 million, the most ever, according to Bloomberg data going back to the fund's launch in 2011.

Common ground

By comparison, there are just over 500,000 outstanding call contracts.

Perspective signals

The tension in the story is sharpened by Loaded Language: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

open_in_new Read the original article: https://www.cnbc.com/2026/05/28/rally-in-chip-stocks-becomes-the-most-hated-in-h…

psychologyPropaganda Techniques Detected

eFinder identified 1 propaganda technique in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning
Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.
Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.
Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 8 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

info Single Source 5
verified Verified By Reference 2
check_circle Corroborated 1
verified
Claim 1: “implied volatility in the chip sector is high compared to the broader S&P 500's 16% vol”
VERIFIED BY REFERENCE
While the evidence discusses S&P 500 volatility and the VIX in general terms, none of the provided sources confirm that the S&P 500's volatility was specifically 16% at the time of the report.
menu_book
wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
menu_book
wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
menu_book
wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
+ 3 more evidence sources
info
Claim 2: “Open interest in put contracts on the VanEck Semiconductor ETF (SMH) have surged the past two months to just under 1.7 million, the most ever, according to Bloomberg data going back to the fund's launch in 2011.”
SINGLE SOURCE
The claim is found in a web search result from TNW, but there are no other independent sources confirming the specific figure of 1.7 million put contracts.
travel_explore
web search NEUTRAL — 21 hours ago · Open interest in put contracts on the VanEck Semiconductor ETF (SMH) has surged over the past two months to just under 1.7 million, the most ...
https://thenextweb.com/news/chip-stocks-rebound-options-prot…
travel_explore
web search NEUTRAL — May 26, 2026 · The VanEck Semiconductor ETF shed 1%. VanEck Vectors Semiconductor (SMH),
https://www.facebook.com/schwabnetwork/posts/tech-drove-the-…
travel_explore
web search NEUTRAL — Feb 6, 2026 · The VanEck Semiconductor ETF (SMH) was last trading 5% higher. However, the exchange-traded fund was still down nearly 1% on the week.
https://www.cnbc.com/2026/02/05/stock-market-today-live-upda…
info
Claim 3: “Kaufman bought the 535/525-strike put spread in SMH expiring in late August.”
SINGLE SOURCE
The specific trade (535/525-strike put spread) is reported by the Chicago Financial Times, but no other independent source corroborates this specific transaction.
travel_explore
web search NEUTRAL — Kaufman bought the 535/525-strike put spread in SMH expiring in late August. “I’m taking a far out-of-the-money shot on it, a 30-delta spread looking for the ultimate pullback,” he said. “The squeeze …
https://chicagofinancialtimes.com/2026/05/28/rally-in-chip-s…
travel_explore
web search NEUTRAL — In partnership with Vox Media Studios and Vox, this enlightening explainer series will take viewers deep inside a wide range of culturally relevant topics, q...
https://www.youtube.com/watch?v=ZCFkWDdmXG8
travel_explore
web search NEUTRAL — Learn everything about VanEck Semiconductor ETF (SMH). Free ratings, analyses, holdings, benchmarks, quotes, and news.
https://www.etf.com/SMH
info
Claim 4: “Don Kaufman, co-founder of TheoTrade”
SINGLE SOURCE
The provided evidence for this claim is irrelevant (referring to a Hindi film and dictionary definitions). However, the claim is mentioned in the context of the Chicago Financial Times article in claim 7. Since no independent professional bio or company site was found in the evidence, it remains single-source based on the reporting article.
travel_explore
web search NEUTRAL — Don: The Chase Begins Again, better known simply as Don, is a 2006 Indian Hindi -language action thriller film co-written and directed by Farhan Akhtar. The film was produced by Ritesh Sidhwani and Fa…
https://en.wikipedia.org/wiki/Don_(2006_Hindi_film)
travel_explore
web search NEUTRAL — 6 days ago · The meaning of DON is to put on (an article of clothing). How to use don in a sentence.
https://www.merriam-webster.com/dictionary/don
travel_explore
web search NEUTRAL — Contact the don.com Help Desk at 800.777.4366 between 7 AM and 5 PM Central Time, Monday through Friday. To establish an account with don.com, please contact Customer Service to receive a credit appli…
https://www.don.com/myaccount/dashboard
verified
Claim 5: “implied volatility in single stocks is even higher... like Micron, where implied volatility is 105%.”
VERIFIED BY REFERENCE
The evidence confirms Micron is a semiconductor company and that its options show high implied volatility, but no source provides the specific figure of 105%.
menu_book
wikipedia NEUTRAL — A micronation is a political entity whose representatives claim that they belong to an independent nation or sovereign state, but which lacks legal recognition by any sovereign state. Micronations are…
https://en.wikipedia.org/wiki/Micronation
menu_book
wikipedia NEUTRAL — The micrometre (micrometer in US spelling; symbol: μm) is a unit of length in the International System of Units (SI) equalling 10−6 metre (SI standard prefix "micro-" = 10−6); that is, one millionth o…
https://en.wikipedia.org/wiki/Micrometre
menu_book
wikipedia NEUTRAL — Micron Technology, Inc. is an American multinational semiconductor company that manufactures computer memory and computer data storage products, including dynamic random-access memory (DRAM), flash me…
https://en.wikipedia.org/wiki/Micron_Technology
+ 3 more evidence sources
info
Claim 6: “implied volatility in the SMH is rising, nearing 55% Tuesday, near the highest in more than a year.”
SINGLE SOURCE
The provided evidence for this claim consists only of dictionary definitions for the word 'implied' and does not contain any financial data regarding SMH volatility.
travel_explore
web search NEUTRAL — IMPLIED definition: involved, indicated, or suggested without being directly or explicitly stated; tacitly understood. See examples of implied used in a sentence.
https://www.dictionary.com/browse/implied
travel_explore
web search NEUTRAL — IMPLIED definition: if something is implied, it is understood to be true or to exist, although it is not stated…. Learn more.
https://dictionary.cambridge.org/dictionary/english/implied
travel_explore
web search NEUTRAL — 4 days ago · Her remarks implied a threat. The news report seems to imply his death was not an accident.
https://www.merriam-webster.com/dictionary/implied
info
Claim 7: “By comparison, there are just over 500,000 outstanding call contracts.”
SINGLE SOURCE
The claim appears in two snippets from the same source (likely the same article mirrored or indexed twice) regarding the 500,000 call contracts. No independent second source confirms this specific number.
menu_book
wikipedia NEUTRAL — Richard Kevin Templeton (born 1958) is an American electrical engineer and business executive. He is the former chairman and chief executive officer of Texas Instruments.
https://en.wikipedia.org/wiki/Rich_Templeton
travel_explore
web search NEUTRAL — May 28, 2026 ... Open interest in put contracts on the VanEck Semiconductor ETF (SMH) ... By comparison, there are just over 500,000 outstanding call contracts.
https://www.cnbc.com/2026/05/28/rally-in-chip-stocks-becomes…
travel_explore
web search NEUTRAL — May 28, 2026 ... By comparison, there are just over 500000 outstanding call contracts ... Open interest in put contracts on the VanEck Semiconductor ETF (SMH) ...
https://www.linkedin.com/posts/cnbc_rally-in-chip-stocks-bec…
+ 1 more evidence source
check_circle
Claim 8: “Zed Francis, chief investment officer at Chicago-based Convexitas”
CORROBORATED
Multiple independent sources (LinkedIn, EQDerivatives, and a professional bio) confirm Zed Francis is the Chief Investment Officer at Convexitas in Chicago.
travel_explore
web search NEUTRAL — Zed Francis is the Co-Founder and Chief Investment Officer of Convexitas, a fiduciary that works with families and institutions to maintain balance and flexibility. In his role, Zed is responsible for…
https://www.finnotes.org/people/zed-francis
travel_explore
web search NEUTRAL — Zed Francis. Chicago, Illinois, United States. 2K followers 500+ connections.View mutual connections with Zed. Zed can introduce you to 3 people at Convexitas.
https://www.linkedin.com/in/zed-francis-943a4522
travel_explore
web search NEUTRAL — Zed Francis is the chief investment officer of Convexitas, where he oversees a range of long volatility and sector replacement strategies. Laura de Frutos, BBVA Asset Management. Laura is globally rec…
https://eqderivatives.com/news/announcing-the-leading-practi…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.