Nvidia, Intel call buyers defy the dip in chip stocks

Semiconductor stocks are on the verge of posting their biggest down day since March 30, as a huge early rally in Qualcomm completely reversed after the opening bell. The VanEck Semiconductor ETF (SMH) is now down about 1%, but call buyers in at least two key chip stocks are looking for further gains. One of the biggest trades in the group this morning is a $2.2 million purchase of 2,168 $210-strike calls in Nvidia that expire May 15. …