Traders are loving this cheap way to make big bets against chip stocks

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 18, 2026. Jeenah Moon | Reuters Just a day after making new all-time records, the semiconductor sector is down almost 7% and traders are finding a cheap way to bet on a bigger pivot. Options volume in Direxion's triple-levered inverse semiconductor ETF (SOXS) is more than three times the daily average the past month and calls are outpacing puts by more than six-to-one, according to data from ThinkOrSwim. Betting on upside for the fund means betting on downside for chips, as the fund targets 300% of the inverse daily move in the NYSE Semiconductor Index. Levered ETFs have exploded in popularity amid the massive run in chip-stocks the past year, with daily rebalancing flows across regularly in excess of $20 billion, according to an analysis from Barclays equities tactical strategies. Stock Chart Icon Stock chart icon Direxion Daily Semiconductor Bear 3X Shares, YTD At just over $4 per share, the ETF offers a cheap way for traders to speculate on the direction of the most important sector in the market. About 260,000 options traded, compared to 172,000 in the VanEck semiconductor ETF SMH. More than 84,000 calls were bought in early trading Tuesday, compared to just under 15,000 puts bought. …