SOXS Options Volume Surges 3x as Traders Bet on Further Chip Stock Declines on June 23

According to CNBC, option trading volume for SOXS (Direxion Daily Semiconductor Bear 3X Shares), which tracks a 3x inverse return on the Philadelphia Semiconductor Index, surged on Tuesday (June 23), with daily volume exceeding 3 times the monthly average, signaling increased trader positioning for further semiconductor declines.

The semiconductor sector fell nearly 7% that day as cooling AI enthusiasm and concerns about excessive AI capital expenditures pressured valuations. Call options dominated SOXS activity, with trading volume 6 times higher than put options, indicating strong bearish sentiment on chip stocks.